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Message: Last NR re assays was March 20
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May 16, 2012 08:37PM
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May 17, 2012 08:15AM
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May 17, 2012 09:43AM
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May 17, 2012 10:18AM

That's 57 days ago--8 full weeks ago. Last hole reported was BL12-159. Then in the NR re updated NI43-101 on Apr 2, it was announced that drilling had been completed up to hole BL12-182.

It seems logical that holes now completed may be up to BL12-210 or more. Some holes on the Borden Lake South (REC property) should have been completed and probably part of the 210 holes. Also, sooner or later holes will be drilled on the Nose Fold.

The next NI43-101 Resource Report (September??) could show between 8 Million oz to 10 Million oz AU

The sleeper is the silver. With silver running at about 1:1 ratio with gold and with silver predicted to be over $100/oz, sometime in the not too distant future, there could be as much as $1 Billion more value. At even half that, ($50/oz) there is enough value when added to the Gold Value to build a full blown recovery plant on the Borden Lake property.

With proven gold an silver reserves substianted by independent evaluation, financing to build such a recovery plant could be readily available. Furthermore, if the Nose Fold proves out greaterr than the original discovewry holes as is hoped for, it would make good economic sense to build a recovey plant on the property.

None of the above takes into account the Black Creek chromite reserves of some 10 Billion tonnes of very good pecentage of chromite.

Two to three year share price prospect will allow me to change my zip code. Maybe even have a summer home there in Chapleau, including a mosquito barrier (if one exists).

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May 17, 2012 01:38PM
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