It's been four weeks since the last samples of the core were sent to to Activation Labs in Thunder Bay. Result are to be released shortly. Chromite is typically found in high grades (20 - 40%), so we can expect good assay results. The initial drilling costs are covered by recent rising of WTM sp and I confirmed an initial $0.5 million exploration budget was allocated by Noront.

PROBE JOINT VENTURE AGREEMENT (Noront MD&A Document)
On May 19, 2009, the Company entered into a Joint Venture Agreement with Probe Mines Limited (“Probe”) covering 87 claims approximately 8 kilometres northeast of the Eagle One Deposit. Under the terms of the joint venture the Company has been granted a 50% interest in the property and is responsible for its proportionate share of expenditures. Probe is the operator and the exploration program and budget is required to be approved by the Company. An initial $0.5 million exploration budget was approved by the Company with Noront’s share being 50%. The objective of the drilling program is to test a projected chromotite horizon.

Dave must have held Technical Committee meetings with Noront in the past three weeks and I expect the second phase of the summer drilling program will be announced shortly after unveiling the assay results.

WTM indicated a drill program that is targeted for late summer or early fall 2009.

Currently, sp moves side ways (profit taking & consolidation) in the absence of news releases, but ROF will heat it up again very soon.