explorationguy...

" They drilled only 2 wells on the Canalaska option land and that shouldn't add up to $600k or the whole program would be on the order of $4 million."

Latest financials out yeterday... for 3-month period ending March 31, 2010 total exploration costs for WM and McTavish totalled some $1.2 MILLION... and that's only Jan-Mar period...

This program contained 13 ~1,000m holes... Like I said yesterday... the original prorgram announced in January was to drill only 6,000m... they decided to drill another 4,000m (i.e. 10,000m) of expensive deep holes even though this latest NR would clearly indicate they were finding nothing to warrant this expenditure... I agree they should have reviewed their exploration plans here after the first few holes of nothing... Who is running this program? These were big dollars that were spent to find what?

If this release had the same results but said something like 'results encouraging and follow-up program planned immediately'... or ' we know where to drill next as a results of this program'... But it doesn't... Instead we get "Average drill-hole spacing in this target area is still greater than 100 metres, leaving ample room for a significant discovery."... What the heck does that mean?

So I guess Milestone results are the only the left to 'save' us in the short-term? Or dare I suggest Hercules may actually yield results that impress? Are these the only two drill programs ongoing? Or will next release be about channel samples from some brand new property? KXL really is back at square one.

red911