2009 will be a busy year for mag. not only will the new resource calculation due out shortly be larger, but we could see most of the resource move from inferred to the m+i categories. the more value the company creates, the worse the fresnillo bid will look.

Current drilling is testing the Valdecanas, Juanicipio and Encino veins. Other targets will be tested later in the year. Drilling on the Valdecanas Vein continues to return high grades across strong widths in areas outside of those included in previously published resource calculations. The closely spaced definition drilling program will contribute results for use in a new resource calculation due early 2009.

The property's original discovery in 2003 on the Juanicipio Vein, one kilometre south of the Valdecanas Vein, has seen limited drilling (seven holes) to date. In 2009 this vein will receive renewed focus with one drill now operating to test for deeper intersections below and west of earlier high grade intercepts. The new Encino Vein, a recently interpreted and separate north-dipping high-grade vein 200 metres above the south-dipping Valdecanas Vein, will be tested with a proposed 8,000 metres of diamond drilling in 2009.

http://biz.yahoo.com/iw/090129/04698...