Sorry but I don't buy that as it is just not the kind of thing Nemis would do. Frankly I'm amazed he drilled holes of any kind that close to FNC's property and only reason would be they suspected something good.

Drilling is expensive and it likely made sense to stop short of mineralization and take down hole geophysics to try and get a handle on what might lie deeper. Then poke one deep hole to intersect.

Nothing found detracts from FNC's potential but they obviously didn't get a free ride here and why should they. I've said before that in exploration a good target doesn't guarantee a valuable find so Fancamp hedges their bets if they do a jv with Noront to drill for them and guess what? FNC's share price would likely go up considerably.