Underground Exploration Program Sample Clauses

Underground Exploration Program. The Proponent shall undertake an underground exploration program which it estimates will cost $95 million and employ approximately 85 people. This program is intended to identify Sufficient Reserves at depth under the Leased Lands and, if there are such Sufficient Reserves, the Proponent shall develop a mining plan for the economic extraction of such Reserves. The initial phase of this underground exploration program will be an advanced surface program which the Proponent estimates will cost $20 million, to commence in 2002 with completion targeted for 2006. Subsequent underground exploration will be scheduled to ensure that Sufficient Reserves under the Leased Lands are available to sustain full operation of the Concentrator Plant during the transition from open-pit operations to full underground mining operations, if applicable.