Highly prospective exploration company

Resource projects cover more than 1,713 km2 in three provinces at various stages, including the following: hematite magnetite iron formations, titaniferous magnetite & hematite, nickel/copper/PGM, chromite, Volcanogenic Massive and gold.

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Message: Coming up

Coming up

posted on Jul 26, 2008 03:38PM

By looking at the volume traded this past week (93,000 shares accompanied by a 4 cent drop in shareprice) it's hard to believe that one of the most anticipated drilling programs at McFaulds Lake is about to begin.One would have thought that investors should get there early to ensure a good seat.Perhaps the combo of summertime and poor market conditions acted to underscore the significance of what is about to take place.Even PRB who are presently drilling near NOT's famous Eagle 1 showed anemia with low volumes and a drop in shareprice (184,000 shares traded down 4 cents)Oh well,when they pull 75 meters of massive sulphides with visible chalcopyrite and pentlandite the few investors that stayed alert will jump in with both feet.Here is a reminder of what is in store next week (barring any more "bugs" involving equipment and/or access)

The initial target is located within the Eagle One peridotite intrusive complex, south of the discovery (Targets 1-3, 1-4, a.k.a C-1, on the attached map). The geophysical description of C-1 is shown on the attached profiles and it will be drilled from the east.

This target expressed in the words of the company's consulting geophysicist (JVX Ltd.) is described as follows; "Response forms suggest a flat lying or flat topped or any irregular conducting mass at depth. The strongest parts of the EM responses suggest a conductor that trends north south, is up to 400 metres long and 100 metres wide. The lack of any HLEM (horizontal loop EM) response means that it probably is at a depth of more than 75m. Modest peak AeroTEM amplitudes suggest a depth of no more than 200 metres, probably less." Figure 4, also attached, shows the results of the ground time domain EM surveys superimposed on the VTEM results. The target has been confirmed by all of the Time Domain EM methods used to date.

GLTA CS.

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