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Message: Re: 43-101 Technical Report Released
3
M
May 29, 2010 07:33AM

Most of the points are observations from the resource estimate and information that has been released, but there's more that hasn't been communicated such as the addtional drilling results at Brenbar and Golden Pond. There is a group who have a mandate and authority to get answers, which is the Board of Directors , unless they are just figureheads. In my opinion they need to sit down with Brian and have a"fire side chat" about the Hercules project. What does he expect to gain by exposing another $ 4 million and what strategy does he intend to use to achieve it. H_rattle is correct when he states the WGM comment about uncertain economic potential is damning. The scoping study really should have been initiated now instead of waiting for the next phase of drilling but clearly there's no point with the poor results to date. The go forward decision should not be based upon the sunk costs as they exist regardless of what you decide. This is crunch time for Hercules so the strategy must be right. I'd like to see them target all of the veins already exposed in the vicinity of the GM that have little or no drilling on them. Then carry out trenching, channel drilling and shallow drilling( max 30 m vertical) to generate as many intercepts as possible with the $4 mil. Forget the deep drilling for now, it's too risky given the erratic nature of the gold mineralization. This approach was hinted at by WGM in the resource estimate so I hope Kodiak knows how to read between the lines. I'm waiting for the projects area of the website to be updated as promised by Brian to decide if we are really back to rank exploration stage or not.

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