You are right there has been a lot of drilling and good hits in a lot of zones. There is even a geologists report recommending a ramp and underground access to better understand the deposits.

However there has never been any indication of the size or grade of deposits (zones). Granted the TSX won't allow that without a 43-101 but still there just isn't enough information for the market to give value to.

Personally I really don't care if they ever put out a 43-101 as long as they mine it and pull out a lot of gold. Every indication is that it's going to be a rich gold mine but indications sure isn't proof nor will the Market reward 'indications' with high valuation.