Although there is much, much more to come, this news release makes it very clear where Spider Resources (project operator) is going with this drilling program - and it is very good, and very exciting.

"The Joint venture partners are encouraged by the apparent thickening of the massive Chromitite beds to the northeast, with the potential for grade and tonnage development in addition to the significant presence of Gold and Platinum (FW-08-07 2.183 g/t (Pt + Pd + Au) over 9.0 metres)."

This statement confirms information I gleaned from from previous discussions with Neil Novak. He believes that the incredible chromitite beds will also lead to precious metal discoveries - as in previous drilling programs. The challenge is to find these metals with more drilling.

"The partners are now considering additional drilling as required for resource definition drilling."

So this statement confirms also Neil Novak's statement back in the late winter. If drilling program brings up drill cores that are really good, more drilling will take place. And this is going to happen. Which also means that this is specifically "resource definition drilling". And this will translate into a 43-101!!!

Therefore, it is most likely that Spider Resources and its JV partners will have two 43-101s out in 2008 (the other is for McFaulds #3). This speaks very well for SPQ.

So will we see a spike in the share price? I doubt it. Worldwide, commodities have gone for a "crap". And Spider Resources is a junior explorer and commodity play. That's reality and the LONGs know it. Patience required.

Finally, all of you will know about Noront's recent 43-101. Eagle One has center stage in that document. But clearly, the Blackbird chromitite discoveries are also very, very important. Some posters have talked in terms of chromitite tonnages, billions of $$$ of chrome, and equivalences in nickel and copper. Moreover, the widths of the NOT beds of chromitite are 40+ meters. Look closely at the SPQ widths plus this comment:

"The current program has demonstrated that the massive chromitite beds or lenses intersected in these earlier drill-holes are increasing in their apparent thickness with successive step-out holes to the North East (down the apparent dip of the Peridotite Sill complex)"

The evidence for Spider Resources, its JV partners, and Noront Resources is getting close to a "tipping point". Stay tuned. It is going to get more and more exciting.

All IMHO.

Snug