So now we have something to really sink our teeth into, assays for a new discovery hole. At first glance these numbers are average as compared to what Eagle 1 has spoiled us with. However, I did post a few days ago to manage expectations when it comes to assays as these are very long intercepts and grades over these long intercepts are impossible to keep high ie 5% or more. Anyone expecting this should sell right away as they have no clue how to assess a minable deposit. Having said this, we did have over 6M grading over 5% in section B and 23M in section C grading over 5% as well. What we gave up in grade though, we made up in tonnage!

The genuity report which raised it's target price of NOT to $2 said they expected both zone to have 5m of 5% nickel. They also stated that any section of 25m of 5% would be very bullish. So I believe genuity will be happy here and will raise their target again.

So now we have depth, down to 945 for sure but our new deep drill which is on site now will find out if we go any deeper. rumblings of hits to 1100 meters are great, but I am looking forward to seeing it in a NR!

Now the big question is: Do we have width? Well here is a quote from a Dundee report that I found very interesting:

A second vertical test hole some 350 to 400m from hole 049 was completed to test a geophysical anomaly at the similar depths to the new sulphide zones. While the proof is pending by way of analytical results, these two holes confirm the company's bullish view of the potential for additional resources and could lead to an immediate re-ranking of the stock.

Now, I have no idea how Dundee knew that hole 50 was drilled 350 to 400 meters from hole 49 but apparently this has been verified or else they would not have posted this. If the target at depth as identified by geophysics turns out to be rich in nickel/copper sulfides over similar intervals as hole 49, then we have our motherload!! That kind of step out will send this stock so high so fast, most of us will not have time to say the word "retirement"!!

However, at this point, we have no information from hole 50 from Noront. We are left to guess and speculate!!

The other interesting point is that hole 49 was meant as a BHEM hole and was drilled along the foot wall/granodiorite. We apparently went into and out of the footwall about 5 times during this hole. That tells me that they did a great job following that wall. It also tells me that we have one edge of this deposit only. We are not at the center of this deposit with this hole. When we drilled Eagle 1's hole 5, we drilled it right thru the center of the anomaly and this returned pretty much the best assays we received from Eagle 1. So my guess is as they move away from the wall and towards the centers of Eagle 1b and Eagle 1c, our grades will improve.

One thing is for sure, we are not done drilling. The size of this is anyone's guess. We are much closer to 10M tons but at this point, we do not have enough information to confirm this. Once we get results from deep step out holes, this find will reveal herself like a beautiful woman. We just hope she a few rolls of fat!!

Respectfully,

Glorieux