Big Daddy Deposit size:

Oct 1st, 2010-10-10

Once the demobilization of Freewest crews has been completed, KWG will mobilize its crews into the camp to begin the previously-announced drilling program on the Big Daddy deposit, which is expected to start by November and be completed before year's end. That drilling program of at least twelve deep drill holes is designed to confirm that the chromite resources continue to depth below those previously reported as an indicated resource of 23.2 million tonnes averaging 40.66% Cr(2)O(3), and an inferred resource of 16.3 million tonnes averaging 39.09% Cr(2)O(3). It is anticipated that the planned drill holes will permit the inferred resources to be largely included into the indicated category to thus enable mine planning and economic modeling.

Known resource 40 million tone.... SPQ had 26% and was paid $125,000,000 cash

2010-07-06 21:06 ET - News Release

Mr. Neil Novak reports

Never in the history of Spider has our market capital reached the level of $125-million. This is $125-million coming into the hands of mostly Canadians for 26.5 per cent of Big Daddy.

PRB growing rapidly:

Core samples from all chromite zones have been sent to Actlabs in Thunder Bay and the assay results, when received, will be used to update the recent NI 43-101-compliant preliminary chromite resource estimate prepared by Micon International (see news in Stockwatch on Aug. 23, 2010). The Black Creek deposit currently contains an estimated 5,714,000 tonnes averaging 40.00 per cent Cr2O3 in the measured and indicated categories and an additional 2,726,000 tonnes averaging 40.99 per cent Cr2O3 in the inferred category. Black Creek is a high-grade chromite deposit strategically located between the Black Thor and Big Daddy chromite deposits and represents a key segment of the chromite horizon

The drilling program was successful in extending the Black Creek chromite zone approximately 115 metres along strike (from 200 metres to 315 metres) and to a vertical depth of approximately 320 metres (from 175 metres), representing increases of 58 per cent in length and 83 per cent in depth from previous drilling. The chromite horizon appears very similar to that observed in previous programs, ranging in width (not true width) from 21 to 44.1 metres, and consisting predominantly of massive chromite with minor interlayers of semi-massive and disseminated chromite. Importantly, the drilling indicates the chromite zone is near vertically dipping at depth, suggesting the majority of the deposit remains within Probe's property. In addition, one drill hole intersected the chromite horizon under less than four metres of overburden, confirming that the horizon does project to the bedrock surface and would be a likely candidate for open-pit extraction.

Thus PRB resource expansion shoul be in the area of 8MM x 1.58 x 1.83 = 20MM tones Double ths SPQ intrest and the high ground preferred location to start production as the deposit is near surface.

With only 34 MM shares $250,000,000 would divide into this nicely @ about $8.00 share

Interesting