I have been anticipating seeing the next drill results also! Really hoping that the merger plan will hold Cliffs off long enough for KWG & SPQ to hit big!

Hoping that they can trace that rare earth nickel back to some kind of strike length! Any kind of length would be a game changer, even three meters of 60%, & I feel the best chance to increase the SP, calling for a much, much high bid for the Big Daddy recourse.

SPQ having only drilled to an approx. depth of 450m, 43-101 report of 22.5 million metric tones of 40% chromite & finding such a rich pocket of nickel… Leaves huge potential considering they have said the anomaly on the magnetic imaging continues down to a depth of around 1700m. That’s another 1.3 km of uncharted territory & the deeper they go the richer it gets!!!

Just my thoughts....

CH

Thursday, January 07, 2010

Holes FW-09-33 and FW-09-36, situated on Section 15+00E, both intersected chromite mineralization. Hole 33 intersected 34.1 metres of which 11.0 metres (between 210.0 and 221.0 metres) average 40.29% Cr2O3. Hole 36 overcut hole 33 and encountered a much wider zone (86.2 metres) between 9.8 metres downhole to 96.0 metres downhole. The initial 11.2 metres of chromite mineralization averages 40.14% Cr2O3; the last 48.35 metres averages 41.35% Cr2O3. Of special note, after passing through the chromite mineralization, hole 33 entered a narrow fault zone that was observed to be partially filled with an unidentified but high grade nickel sulphide mineral (based upon in-house hand held XRF Niton Analyzer measurements). Upon receipt of laboratory analysis, the sulphide zone over 1.0 metre averages 2.74% nickel, 0.12% cobalt and 1.04 g/t Pt+Pd. A sample of the sulphide mineral selected for petrographic analysis was determined to contain an alteration assemblage of minerals including godlevskite (Ni9S8) along with veining of mackinawite ((Fe,Ni)9S8). Dr. James Franklin (director of Spider Resources Inc.) states: "This is a very low-temperature assemblage, and probably represents hydrothermal transport up a shear system from a more substantial Ni accumulation", Dr. Franklin continues "this explains the very high Ni contents, as it contains nearly 60% Ni."