Hopefully people who have read my recent analysis of hole 07-77 at Stockhouse will forgive this repost. Any comments are more than welcome, flames and flowers alike. More than anything I'd like to know what others think of my theory because I believe we are fairly close to defining our very own mineralized "cluster."

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I've conducted a preliminary analysis of today's news release & decided to begin with a closer look at drill hole McF-07-77. That's not to say other holes are not newsworthy (McF-07-75 & McF-07-76 are very interesting at first glance) but I had to start somewhere so I took the one with the longest intercept for now. At any rate I picked drill hole McF-07-77 based not only on the real significance of this hole in isolation, but rather in the context of other holes that have been completed in the past in very close proximity. And that is what makes today's news a rather significant development & a great start in the very first year of the joint UC/SPQ drilling campaign. Good show guys!

Instead of going into a long-winded diatribe, I'll spell out in as few words as possible what I see unfolding around this drill hole based on substantial cumulative evidence. In my view and in a nutshell, the adjacent holes (drilled in recent years), delineated what appears to be a Massive Sulphide lens that sits on top of a *much larger* Disseminated Sulphide ore body which is 45 meters thick & in fact it could be much thicker further down strike.  Bear in mind the assumed Massive Sulphide ore body that was outlined in earlier drill campaigns was found to have several *very* enriched Copper/Zinc drill hole intercepts (see notes on News Releases below.)

So to sum up SPQ finally hit a nice Hole today (McF-07-77) that indicates a large Disseminated Sulphide ore body dominated by Copper & Zinc. This is the first crucial piece of evidence that clearly proves this area of SPQ's McFauld's #3 grid conforms to the characteristics of a VMS deposit model as outlined by James Franklin Phd Geo a few years ago. I've clipped a page from Jim Franklin's report at the bottom of this post for two reasons: to show the graphic of his VMS deposit model & to show the table which outlines the mineral grades we should expect from the Massive & Disseminated Sulphide ore zones. I trust this compilation will inspire others to carefully flesh out the significance of today's NR and understand how we are closer than ever to proving up a Noranda-style deposit that will eventually make McFauld's a household name to investors worldwide. This is the kind of news that pushes McFauld's another step forward towards outlining a sizeable deposit & should grab everyone's attention especially long-term oriented risk takers. I would be surprised if SPQ remained in the single digit by the end of the year based on this news, let alone the great news out of NOT right next door.

ESL




August 30 2007 News Release
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Drill hole McF-07-77 was started on line 8+00 N (same section as hole McF-07-74), the drill collar was moved closer to the intended target, the hole initial dip was steepened to -85 degrees drilling grid south. Once again the hole started flattening, even using two stabilizing rods, however the hole was allowed to continue and it do so, at much less of a flattening rate. The hole intersected the main mineralized zone at 458.9 meters and remained in the altered (mineralized) zone until 504 meters, the hole was drilled for a total length of 543 meters. The mineralization at this depth consisted of a magnetite rich chlorite - semi massive sulphide (chalcopyrite, pyrrhotite and pyrite) zone over 45.1 meters (!!!!!!!!), short (centimeter scale) bands consisted of massive to semi-massive pyrrhotite - chalcopyrite. Samples have been selected and were shipped to laboratory in early August, assays pending.


Note re hole McF-07074: Drill hole McF-07-74 was set up on Line 8+00 E at 2+92 N with an initial dip of 80 degrees, designed to undercut Hole McF-04-57 that had intersected 8% Cu over 18 meters, as well as hole McF-04-29 (4.39% Cu over 2.5m).




November 08 2004 News Release re: Hole McF-04-57
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http://www.spiderresources.com/news/November%2008%202004.htm

Note: hole McF-04-57 intersected continuous massive sulphide mineralization between 238.8m and 257.6m

Spider Resources Inc. ("Spider") and joint venture partner KWG Resources Inc. ("KWG") announce that they have received the results from drill-hole McF-04-57. The previously reported (Nov 2, 2004) 18.8-meter intersection has returned a surprising overall grade of 8.02% Copper, with anomalous amounts of silver and gold. Within this intersection, a shorter 10.5-meter section grades 9.35% Copper. The McFaulds #3 deposit has only been tested for 400 meters of strike at surface and it remains open to the east and down dip....... <snip>

........<snip>  The massive sulphide mineralization observed in Hole McF-04-57 is similar in style and nature to drill holes McF-04-21 which cut 13.8 meters averaging 5.5% Cu (previously reported March 18, 2004) and McF-04-41 8.0 meters averaging 6.5% Cu, 3.3% Zn (previously reported May 11, 2004).

The ‘pierce point’ of drill-hole 57 on the plane of the mineralization is 75 meters down dip from hole McF-04-21 and is 25 meters west of and 50 meters down dip from hole McF-04-41. This thick and rich copper mineralized zone is also 50 meters up dip from hole McF-04-29 which intersected 3.0% Cu over 1.5 meters. These three earlier holes appear to be defining the edge of a thicker pod of massive sulphide mineralization and drill-hole 57 was designed to test an area down dip and down plunge from them.



Link To Graphic re: James Franklin's "preliminary review of a VMS occurence"
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