Noront Resources

Okay, actual expenditures 12.5 million, with a 35% rebate (4.375 mill), gives a net expense at 8.125 million.

"Visible gold was observed on joints and fractures running in many different directions and chip sampling was unable to estimate the contribution that this gold is making to the overall grade."

Visible gold in many different directions is a good thing, IMHO.

Underground drill sampling is underway, bulk samples are being taken from visible gold zones for lab testing, and virtually all assays are still pending.

Really, I didn't expect much more, at this point in time. Certainly, I had hoped for more, but the surface drilling had already suggested that the gold distribution was too erratic to predict with any accuracy. They went in, and found that it was indeed the case.

I look forward to the results of the bench-scale processing of bulk-samples.

Lar