I just posted this on the GNH board:

I am happy to hear/read of someone disclosing of their actions in the Beauce. That being said, I feel clarifications are needed here.

There are at least 3 different geological environments in the region. There Quartz hosted gold deposits (Timmins Type deposits); classic VMS deposits (like FSG); placer gold deposits (like what FNC is running after. N.B. The interesting part of the placer deposits which were panned in the 1800s is that nobody has really looked for the source. The source is Serpentine Ultrabasic rock formations.

GNH has a lot of these Serpentine Ultrabasics staked... roughly 100km of contact zones. Please refer to http://www.goldenhopemines.com/userfiles/SerpentiniteGeology.pdf As we all know at this point, these geological formations are not the priority but are part of what GNH has in the inventory.

The bottom line is that Smith is a follower, not a dooer... see McFaulds debacle. All he does is follow a trend, be it NOT or GNH. GNH is the trail blazer here as Spider or Noront were in McFaulds. Obviously if the properties in the Beauce were not any good GNH would have not spent the time or money they have nor would there be a staking rush. This is not a real estate game.

Whatever FNC does has nothing to do with what GNH is doing. Beauceville is about 50km+ away from the Timmins project, and, as mentionned above, what FNC is looking at is an entirely different environment from what GNH is doing.

....But i'm not simply going to bash FNC, there is some definitely good news if you read in between the lines.

That being said, FNC did report the following on "Timrod": The degree of alteration and evidence of multiple quartz veining episodes however indicate this area remains highly prospective and numerous geophysical and geochemical anomalies remain to be tested. The huge gold geochemical signature that the placers themselves represent merely confirms the above conclusion.

FNC also said the following on "Riviere du Duiable": These three intersections suggest the existence of a northeast-trending corridor at least 250 metres long and open along strike and to depth. Higher-grade intervals over narrow widths (0.5 metre to 3.5 metres) on the order of two grams per tonne to three grams per tonne are present in these intersections in the three holes, suggesting the possibility of higher grades elsewhere in the system. As can be seen from the attached map, the Rapides target area forms a kind of choke point or buttress which interferes with the course of the Chaudiere River itself and suggests the possible existence of a major unique regional structure. Exploration of the, to date, untested extensions of this zone is certainly warranted.

As I have been follwoing GNH and JRs for a long time, I say that this simply implies that they missed and have to drill more holes on better defined targets. I do not think that the FNC release is entirely negative. I do however believe that this represents the first of many steps in the exploration project.