Thanks Mike 1962 for your PDAC report. (Any core samples that show visible gold at PRB booth? I was hoping for some nice pictures, but may be Dave did not want to show of "the babes" yet)

Dave Palmer was quoted for saying "By Wednesday of this week, we will have 8 drills drilling. Dave is hoping that due to the cold winter we will be able to drill into April. With that said he said we will not be able to drill the entire lake this winter. But if we drill 600m, it will be an addiitional 60% added to the HGZ-which is huge."

My take of this is as follows:

- It was planned as 200m step-out drilling from 2000SE. 4 drills were used initially when the ice was thick enough, but then something happenned (let your imagination run wild...e.g. visible gold from the first few holes confirming the results they had around holes 1950 - 2000SE, bet that they have the visuals before, but additional results just confirmed it). So, fearless Dave huddled with his merry men/women and came up with a grand scheme, taking advantage of the cold weather in Chapleau (in fact everywhere, including down in the USA), to add 4 more drills for a total of 8 drills on the ice surface.

- With 8 drills, it looks like the spacing would be 100m, and the objective would be for a better resource estimate (Dave's favourite: in-fill drilling).

- Can't cover the entire lake with 8 drills and an option to have some 200m step-out? Surely, this can be done unless for some unexplained reason drilling is stopped short deliberately, just like at the other end (around 1500SE) near the wedge claim.

- 600m extra length? A better guess would be 800m if the last drill stops at 2800SE. Note that 600m is used as an example for a 60% increase. If an additional 800m is realized the this would result in 80% increase. If the grade continues to be good at 2800SE then an extrapolation of another 200m would double (+100%) the results of the first 1000m.

- If the grade gets richer and richer from 1000 to 1800SE, then all bets are off. There is no way Dave can stay below the radar if Borden Gold is shown to contain more than 10 Moz Au with high grades. This is much better than Trelawney's Cote Lake and Osisko's Malartic. Comparison with Cote Lake has been done before in previous posts. Comparison with Malartic is a bit more complicated, but should be possible, noting that Gold Corp and Osisko just settled out-of-court for an extension Gold Corp's offer (currently @$2.6B) until April. Better offer expected, or Gold Corp could not afford the asking price and walk away?

Note that Malartic is a high tonnage low grade (less than 1gpt). So the comparison would need to take into account several factors: Operating mine low grade open pit versus possible combination of open pit and underground with much higher grades in the HGZ.

Tea leaf reading says minimum price $10/s.

goldhunter