The Company is committed to a significant exploration program at Plutonic that seeks to identify additional Mineral Reserves and Mineral Resources, which can be processed using existing mill capacity and aims to extend the mine's life. In particular, the Company is committed to converting a greater portion of the current Measured and Indicated Mineral Resources and Inferred Mineral Resources into Mineral Reserves with additional drilling.
The exploration program targets areas from both underground and from the surface.
An annual exploration budget of approximately US$3.5-$6.5 million is planned for 2021. Exploration expenditures could increase with positive results.