I checked our December 2008 Ni43-101 and the strike length for the C1 and CC veins is at least 450 meters. The report says mineralization begins at level 12 and continues 230 meters to level 18 at least. Yesterday's news release was for samples at level 19. The NI43-101 says the minerized corrodor continues at least 250 meters below level 18. It seems the deeper we go the higher the gold grades get so who knows where the bottom of this stuff is.

The C1 average was 0.27 meters of 18.16 g/t gold and 966 g/t silver. The C1 vein above level 19 was previously drilled and found to have 3.7 g/t gold and 173 g/t silver over 1.27 meters. The CC average was 1.25 meters of 12.94 g/t gold and 807 g/t silver. The CC vein above level 19 was previously drilled and found to have 1.94 g/t gold and 127 g/t silver over 1.51 meters.

If we use this data for the 450 meter strike length and 230 meters above level 18 and 250 meters from level 19 down, and use 3 tonnes/m3 these 2 veins contain 304,902 ounces of gold and 17,885,672 ounces of silver. Total diluted tonnage is 1,622,565 tonnes. This is enough to supply a 1500 tpd mill for 3 years. Metal value at $1200 gold and $19 silver is $705.71 million dollars. At a 60% revovery rate that is $260.96/tonne of precious metal plus whatever the lead and zinc is. Profit at $75/tonne total cost and a 1500 tpd operation is $8.48 million per month or $101.8 million per year.

While these numbers are impressive, these 2 veins are only 2 of something like 46 veins ECU has identified to date, and they were not previously considered the most valuable veins. What impresses me most is that the grades continue to improve greatly with increased depth, and we are far from reaching the bottom of mineralization. I remember years back when us investors were hoping for 200 or 300 million ounces of silver equivalent. At this point given Micons report and our continued great explotation success, I think 10 to 15 million ounces of gold plus 1 billion ounces of silver will be achieved. This approaches 2 billion ounces silver equivalent.