Argonant Gold Mining is presently mining gold in Mexico, El Costillo Mine, where the grade is 0.38 g/t. The company has 88 million shares out and a market cap of $435 million, todays SP is $4.94. They have reserves of 1.2 mm ounces with another 1.7 mm in measured/indicated. Mining costs is in the $600/oz range and the cut off grade is 0.15 grams/t. A recent story on BNN suggests that the SP could move to the $8 range.

Based on the above it would appears that Borden Lake with reported gold in the 0.5 to 2 gram range over significant widths could be mineable if the tonnage can be proven. I know we are in Ontario and just about everything is different than in Mexico including geology, environmental requirements, labour rates, taxes, etc. Hopefully PRB will have an update on their present drill program as well as news that a third and expanded program will be in the works. The latter to include some deeper holes to test DP's thoughts that grade appears to increases with depth as well as infill holes.

The next few months will be very interesting.

mh