Good job, Peter Smith. This gives a buzz worth talking about.

http://tmx.quotemedia.com/article.php?newsid=34522460&qm_symbol=FNC

Refer to my earlier post on why I like the last NR.

http://agoracom.com/ir/Fancamp/forums/discussion/topics/443001-for-the-ears-of-peter-smith/messages/1445248#message

I like the title, "To Resume Mcfauld's Drilling"

It indicates that Smith has a plan, and you are welcome to join the ride. We are exploring there will be ores of plenty and of famine along the way.

"...intention of demonstrating that the Eagle One mineralized system is an extension of that to be found at depth on the Company's C-1 target."

Though presumptuous, one can't help ones determination based on reading the evidence. His interpretation of the readings say Eagle one is not the main ore but and extension of Fancamp's ore. This is what both Harvey and Smith have maintained for years. It's also relieving to know that with all the misses, although they like to call it "encouraging indications", on previous drill attempts under C-1 and from Noront's AT-1, Harvey and Smith still interpret the readings indicating main ore body lies at depth under of sharing with Noront's Eagle's Nest ore.

"An initial 3000 metres is planned, beginning with deepening of Hole FN-10-19 on the C-1 target. This near vertical hole, some 120 metres south of the Noront boundary, was drilled to a depth of 729 metres, and due to technical difficulties was tested by downhole geophysics only to a depth of 669 metres."

3000 meters isn't much when dealing with depth. How many holes can that be for ore targets 1200 to 1400 mtrs deep? Does the 3000mtrs begin after the 669 mtrs or include the 669 mtrs?

"Strong evidence of the beginnings of a large off hole conductor at this point and provide the Company with an indication of potential mineralization."

Smith said the gravitational and conductor readings grew stronger and stronger as they got deeper and deeper. Could this the money ore we've been waiting years for?

This statement is the blue sky of dreams.

This drill programme is designed to test the working hypothesis that Eagle One is a faulted offset of C-1 in a left lateral displacement sense along major NW trending faults, and that the fragmentary high grade intersections seen in Holes FN-08-02 and FN-08-10 are, in this context, fault slivers of the Eagle One mineralization itself. (The original drill log of FN-08-02 describes the massive sulphide intersection as occurring "within a fault zone".)"

I should hope this requires less dilution then now as SP should have increased by then.

"...the Company has current funding allowing it to be extended as required."

What is also significant about this statement, is it is a statement designed to prep us for the actual event. A prep NR may also indicate his willingness to give visuals, so if your a bottom feeder, by the time there is a leak, it's too late, you'll have to join the crowd on the uphill SP climb. I would also like Smith to include quotations from Harvey and Mike further detailing what's got them excited. Of course a Harvey statement would be something like, "Go deep. There lies the ore. What the hell are you doing wasting money shallow. Always go deep."

SIDE NOTE:

It's easy and sometimes enjoyable to let off steam at Peter Smith's expense. However, he said something when I was discussing shareholder's feeling upset with his pace and desiring more shareholder friendly CEO's who can get the job done faster then he. His response was, the directors do not matter. Finding the ore matters. Ultimately this statement is correct. However, I pointed out that he's had the ore in Magpie for quite sometime. Again, it's easy to bash a CEO, and he's admitted mistakes he's made, however if he finds many meters of economical McFaulds ore, our SP skyrockets. That puts money in my pocket, and that's what counts in the end -via SP or distribution of a sale or shares.

Thanks for tolerating my ramblings,

StockGreed