Hopefully below will provide some calrity as to how much money has been spent and how much is needed going forward to get to The FS. Excerpt from RE release :
The Claim Block 4F Property hosts a significant hydrothermal graphite deposit and merits considerable work.
RPA recommends a Phase 1 budget of C$4.21 million (Table 26-1) to advance the Albany graphite deposit and explore elsewhere on the Property. Work should include:
A Preliminary Economic Assessment; • 1,200 m of drilling for geotechnical purposes; • a marketing study; • continued metallurgical testwork; • various social and environmental baseline studies; and • 5,000 m of drilling to define the extents of the deposit.
TABLE 26-1 PROPOSED BUDGET Zenyatta Ventures Ltd. - Albany Graphite Deposit
Item C$ Preliminary Economic Assessment 150,000
Marketing Study 100,000
Metallurgical Testwork 1,150,000
Social Study 50,000
Environmental Studies 250,000
Geotechnical Study Including Drilling 360,000 Drilling (5,000 m at $300/m total cost) 1,500,000
Operating costs/office 250,000
Sub-total 3,810,000
Contingency 400,000
Total 4,210,000
The recommended Phase 2 budget of C$5 million would be contingent on Phase 1 results. Work would include additional drilling, metallurgical testwork, and a Preliminary Feasibility Study.
