Abitibi Geophysics http://www.ageophysics.com/english/index.html identified an interesting target at C-11.

Here is their description of it:

It is worth mentioning the presence of a large and highly polarizable feature C-11 at the southeast of

the chargeability model. The nature / shape of this feature is questionable and is poorly defined since

its location is close to the edge of the geophysical grid and outside the zone encompassed by the

boreholes RG10-07 and RG10-09. The observed apparent chargeability values collected in the pair

holes RG10-07 & RG10-09 are weak (< 5 mV/V), suggesting that anomaly C-11 is an edge artifact

created by the inversion.

The polarizable body C-11 is between a resistive (>40 000 Ω.m, blue colour) and conductive

(< 15 000 Ω.m, red colour) material which can be interpreted as a mineralized fault.

Now, when you combine that geophysics report with the visual drill results from discussion with the company (feel free to call them to confirm) where they described the drill hole that intercepted C-11 as hitting 2 mineralized section, the first 10m long, the second at 43m long and describ these at 20-30% Quartz tourmaline and semi massive pyrite, there is confirmation that this is a large mineralized body.

Now, we have to wait for assays to confirm that gold is again present with the quartz-tourmaline (so far we have not hit any barren QT) but we know for sure that this is not an edge artifact as mentionned as a possibility in the C-11 description.

The market is clearly in show me mode where GAX is concerned but I believe this is a result of CIBC emptying a large position (884k net shares since July 1st, next biggest seller is BMO at 120k) and that the market probably expects this to be a vein system and from the geophysics and the longer intercepts, this clearly has more to offer than just veins.

Patience still required as the longer intercepts mean more samples to assay but this is good news. There was also another hole with good visuals where they had 73 meters of mineralization. Again, we cannot say that this is gold bearing till assays are back but long intercepts like that within 100m of where we had 79g/t and 19 g/t leaves me very hopeful that the market is seriously undevaluating us at this time.

The other thing that some may forget is we are right on the Cadillac trend line, just slightly east of Val d'or. Have a look at this map from GBB http://goldbulliondevelopmentcorp.com/html-pages/downloads/GBB_Fact_Sheet22.pdf to see all the gold mines along the same trend as we are. When we report our next assays (assuming they are good) and people start putting the pieces of the puzzle together, it will not be hard to promote our company.

Glorieux