So they are doing work on chance 5. Thats 5-6 km,s away from the biggest anomaly and an area that we have little info from yet. The Cactus zone is the furthest south info that has been released publicly so far, and that is roughly 1-1.5 km from there. We had 2 highlight surface samples of over an ounce per ton there. The trenching from this area will be very interesting to me when we get it.

Intigold has optioned our Chance E, and here is Lori,s words from that release;

Chance E Claim

The Chance E Claim is a strategic claim that adjoins the southern end of the Tesoro Gold Project where St. Elias is currently drilling to delineate gold resources. The Tesoro Gold Project has demonstrated the potential for a “world class” gold discovery. Geological information, together with Titan 24 geophysical data and satellite imagery, confirms that structural lineaments which are coincident with gold mineralization on Tesoro Project extend onto the Chance E Claim.

The initial exploration program on the Chance E Claim will consist of, but is not limited to, the interpretation of satellite imagery acquired to exact specifications and geological mapping and sampling. The program is scheduled to commence immediately.

http://steliasmines.com/newsrelease/st-elias-mines-ltd-%e2%80%93-options-strategic-claim-adjoining-tesoro-to-intigold/

If we are going on to Chance E spending SLI money, it must be able to be done under our 40% retained interest, this could also be a conflict of interest for SLI and IGD shareholders. It is/was my understanding that IGD would spend the money on this property, to prove it up for us, and that it wouldn,t cost SLI shareholders a penny. Maybe one could say, this may be further evidence of IGD becoming merged in the future with SLI. This is only a guess on my part and should not be taken as gosple.

Below is another excerpt from the same NR as above, notice the underlined;

Also take note of “The aggressive drill programs at Tesoro for 2011 . ?????????

“St. Elias continues to negotiate a variety of property deals that we are confident will create additional value for shareholders. The optioning of the Chance E Claim not only allows another company to fund initial exploration but will also provide valuable geological information regarding the Tesoro Gold Project area” states Lori McClenahan, President and Chief Executive Officer. “The aggressive drill programs at Tesoro for 2011 are aimed at revealing the discovery premiums that we feel are hidden in our substantial portfolio of quality gold properties.”

Everybody can think what they want, but I think there is way more that she is not revealing at this time.

Everyone do your on DD by checking things out, and do not be afraid to tell me when I am wrong.