Tuesday's news for Borden Lake followed somewhat disappointing news from Black Creek Chromate and my first pass didn't sink in. I have since had another read and my take is as follows.

Although there are no analytical results for the 7 holes reported there is IMO some great news contained in the body of this news. First we have about 33% of the planned 5000 m drilled to date and the report notes a True Width of 180 to 200 m which is very substantial. Based on the gold grades provided in the Phase 1 program the field geo would probably not be able to see any visable gold. However, the news says "and contains similar sulphide concentrations and assemblages as observed in the Phase 1 drilling program". Phase 1 news notes the gold appears to be "associated with disseminated sulphides" and the geophysical program, VTEM survey, traced the conductive zone for some 1200m. Based on this info the projected gold zone could extend some 1200 m on strike and 180 m in true width. The depth from phase 2 is unknown except 2 different depths were evaluated.

The second point that is very importance is the Timiskaming sedimentary rock that hosts the gold. As previously noted the Timiskaming formation is the host rock for many world class gold mines from Timmins Ontario to Val d'Or Quebec. I believe this formation was unknown west of Timmons until 2008 when geo's from the Ontario Minister of Mines identified the rock and gold potential north and northeast of Borden Lake during routine mapping. In my opinion the best place to look for gold deposits is in rock that is know to host many, many gold mines and in this case it is the Timiskaming Formation.

Interesting times ahead for PRB, especially Borden Lake, lab results are expected mid January so stay tuned.

Merry Christmas all,

MH