Central Mac drilling to wait for seismic data

International Frontier Resources has postponed until 2008 plans to drill in the Central Mackenzie Valley of the Northwest Territories while it participates in a 145-mile 2-D seismic program on three exploration licenses.

The seismic work will cost about C$13 million and cover Haywood EL-423, North Stewart EL-397 and South Tate EL-441. Data acquisition is scheduled for completion in September and a prospect map will be developed before the end of 2006.

International Frontier said its partners agreed to defer 2007 drilling plans until 2008 to allow sufficient time to interpret the newly acquired seismic data and integrate the information into existing geological models. The consortium believes the delay will translate into more cost-efficient drilling and logistical operations.

—Gary Park