There was discussion a while back on why Noront was not drilling to the SW edge of E1 and prove that it goes to depth. When you think of what it means to drill at depth, how difficult it can be and how un-precise it is, this is a wise decision. We already know that E1 gets steeper and thinner at the SW edge. Trying to extend the deposit by following this extention would be like hitting a needle in a hay stack.

I remember someone discussing how drilling is done. That you have these 10ft tubes that are added together to get to depth. Well, all these tubes unfortunatly can cause the hole to be rather imprecise as it bounces off the various types of rocks. The extreme example that was given was some drillers lost water pressure while drilling at depth. They could not figure what was going on until someone pointed out that the drill bit had somehow done a 180 underground and had come back thru the ground!! So imagine trying to hit a steepening, thinning intrusion at close to 300M...The odds are not great plus it is expensive to drill this deep and requires lots of time. The other issue is that minerals found at depth may not be worth quite as much as mining them is more expensive then open pit operations. If E1 is all we had, then that would be what we would be drilling at depth. However, we have over a hundred possibly over a thousand anomalies at shallow depth and it will be far easier, cheaper and much faster to add tonnage by going after these and getting our JV to do the same. The other thing that may happen is that one of these eagles will have a widening, steepening edge that will make it much easier to follow it to the Mother load. When we stumble onto this anomaly, then they will change their tactic if down hole geophysics indicate this.

Again this is a fairly simple thing but it continues to show that Neil Novak is not knew at this game. He will continue to go after the easy cherry picking because he knows there is enough cherries to get our tonnage high enough to maximize Share holder's profit and get a Major to jump in. If we find the mother load then he can leave a few cherries for the Major.

Holding strong,

Glorieux