Well all the fun and games at Tesoro began this May with the receipt of the EIS. By mid May we had learned that logistical provisioning of the Tesoro camp was well under way and that trenching had also begun. By mid August we knew that the drills had started turning. With certainty, we know that the drills were still turning mid October. The foregoing is documented by company NRs.

Anecdotally we have heard that both trenching and drilling is still ongoing with the deep holes to be shot very soon. While there is no reason to doubt this as it has come to us by a couple of separate avenues, it is still not as official as what we know coming to us in writing.

Access to Tesoro is best achieved from the months of May to December when the Acari River is crossable at Otapara. During high water times a more circumvent route via Coracora. From the technical report:

At Otapara, the Acari River must be crossed to reach a poorly maintained gravel

road on the north side that leads to the property. A vehicle can only cross the Acari

River when water levels are low; any time between May and December and

intermittently during the rest of the year. (This effectively limits field work to the dry

season, although the property can be reached by a long circuitous route via Puquio

and Coracora during the brief rainy season.) The gravel road on the north side of

the river climbs steeply up a series of switchbacks to the plateau at 2100 m ASL.

Road distance from Otapara to the Canchete Zone at the north end of the Tesoro

property is approximately 38 km. Four-wheel-drive vehicles can reach almost all

parts of the Tesoro property because the terrain is generally flat.

So while it is still possible to get to Tesoro in Jan to April, and sometimes at the Otapara crossing if water levels permit, it is not as reliable.

So based on this, I would guess that a push is on to complete as much of the on site exploration program as is possible in the next 6 to 8 week time frame. And of course bring down from the Tesoro plateau much of the samples as possible.

I believe that in the new year, more emphasis will be placed doing work at the Lima offices than on site. This is where a goodly portion of the compilation work will be done as the assays are received. And again, a Lima assay lab has been used in the past.

So in terms of real results from Tesoro, I'm circling the back half of the Q1 2012.

And just a note, Vilcoro is easily accessible year round.