Re: Drilling at McFaulds

Highly prospective exploration company

Resource projects cover more than 1,713 km2 in three provinces at various stages, including the following: hematite magnetite iron formations, titaniferous magnetite & hematite, nickel/copper/PGM, chromite, Volcanogenic Massive and gold.

Reply New Message

Prev Message Back To Forum Threaded View Next Message

MaCloud

Rank: President [?]

Points: 4183 [?]

Votes: 105 Score: 3.5 [?]

Your Vote:

Please Log In to Vote

Did you know? You can earn activity points by filling your profile with information about yourself (what city you live in, your favorite team, blogs etc.)

Re: Drilling at McFaulds

in response to

Drilling at McFaulds

cappysmart

posted on May 12, 2010 11:13PM

All I know was FNC was pleased with what they saw in the first two drills and planned to go for geomagnetic survey in two drill holes. I didn't get further information on this part. Not sure Peter has received assay results and is holding on them till PP is closed. At least, it takes days to analyze received assay results. At this stage, selling shares to buy into PP is not a valid assumption. As said earlier, it takes two days to get TSX approval to put out a press release to say "Fancamp closes <$2,000,000 private placement".

Do you remember that Noront Resources informed shareholders that effective September 15, 2009, John Harvey was leaving the Company? At that time the rumor said Noront didn't like him to say that there was a significant mineralization on Fancamp boundary.

Many of us are looking at this company from ROF perspective, but Fancamp's exploration activities are quite diversified and holds many other properties other than McFauld's. It seemed to me that the sale of MagPie property is set to a #1 priority for now and many people start realizing that this sale carries a huge implication in the future financial position of the company. IMO, POSCO may be dropped off in the race.