"OK, so where am I going with all this? Webb is working to add resource ounces nearby existing deposits so that the extraction cost per ounce in an eventual feasibility study will be markedly lower. Just what the doctor - er, I mean bank, ordered. He's not looking for bonanza grades - they don't exist here. But he is looking to increase bankable resource ounces at surface to make the project more profitable, and hence more financeable."

I agree with you and I agree with the program. The only thing I would add is that a few of the holes were drilled near the "penciled in" boundaries of the individual zones so that I believe they are checking for continuity to try to define the pit or pits program. I think that is encouraging because they are trying to do more than just find ounces; they are establishing how they will approach the resource when they begin to mine it.

Without being overconfident about it, they are IMO planning their mining operation. They will start at Ormsby as originally planned, but Clan Lake could have several small pits, one larger pit, or with much more drilling and higher gold prices the possibility exists for the superpit I discussed some time back on Hubert's site http://tyheeinvestors.blogspot.com/2011/01/one-big-hole-in-ground.html .

They have to go through the process of building a mine and it takes time but I believe they are thinking far beyond that as well.

P.