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Message: Ontex's $7Mil+Cash & Enlarged Geological Team

Ontex's $7Mil+Cash & Enlarged Geological Team

posted on Jul 29, 2009 03:17PM

A significantly enlarged geological team (7) is actively compiling data for high potential exploration targets.

The team has recently discovered a new drill target east of the Brookbank deposit (toward Foxear Deposit) with an impressive 500’ + open strike length; widths range from 60’ to 130’. Samples returned impressive values.

Currently, 2 drills are operating and possibly more will be added to compliment the aggressive 2009 drill campaign. There is good potential to increase the resource base, as most mineralization lenses are open at depth.

Infill drilling should further enhance the Indicated Resources.

New management headed by Patrick J. Sheridan is also upgrading Ontex’s Data Base.

After the 2009 drilling program results have been evaluated and a 43 101 updated,

Ontex should be in a position to commission a scoping study.

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