Timmins & Beardmore - Northern Ontario

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Message: Paint Lake speculation

Paint Lake speculation

posted on Sep 08, 2009 11:06PM

What a difference a day makes, the glass is now half full instead of half empty. I scanned through the Ontex (ONT) website to get a heads up on what we may expect from the Paint Lake drill program.Their Foxear zone is no more than a kilometer away from the Sage property and lies on the same splay from the major Paint Lake fault. They estimated about 52000 oz AU indicated and inferred resource from this zone using a 2 g/T grade cutoff. But most of this drilling was no more recent than the year 2000. Their Dec18/08 press release indicated that they were using a 3D model to pick locations for the 2009 drilling at Foxear but I couldn't find any results for that zone so far. We've established a combined srtike length of 1.3 kilometers with multiple vein systems and decent grab and channel assays. The odds are on our side that we will establish a continuation of the Brookbank gold deposit. Another point to consider is the potential value of having Kinross as a shareholder. We will need to raise money at some point next year so who better than from a gold company and shareholder. Now Sage's projects would have to compete with other programs that Kinross may want to fund so we need some good drill results. We've found some sizzle at Solomon's Pillars and Paint Lake, now we need to produce the steak.

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