I calculate from previous NR’s assays are due on visuals released for 16 holes still not accounted for: AT12 – 2, E2/B1/B2 – 14
As for Windfall we to have assays pending. Of the $15 mil raised 6.875 mil is still on the books, see below. Care and Maintenance? Yes, Over the winter months to fully access all assays from drilling, bulk samples and assessment of economics to plan the future program. Windfall is not finished
- The total cost of the underground exploration program to date has cost approximately
$12.5 mil. which is well within budget.
- The program was financed in advance by a $15.0 mil. flow through private placement in December, 2006
- Quebec’s exploration rebate program, approximately 35 percent of the total underground costs is being returned to the Company for more exploration and future benefits to our shareholders. $4.375 M
The underground program:
- 55 meters of exploration drifts in mineralization and waste on the F-11 zone,
- 102 meters of exploration drifts in the F-17 zone and
- 55 meters of exploration drifts on the W-3 (formerly 100) zone.
- F-11 zone, at a vertical depth of 50 meters, the gold zone was exposed for a total
horizontal length of 32.5 meters before it wandered into the drift walls. Average grades
from the muck samples was 3.95 g/t gold over the exposed zone’s length.
- F-17 zone, at a vertical depth of 55 meters, the zone was exposed along the total 102
meter length of the horizontal drift. A 20 meter length along this zone averaged 2.34 g/t
- W-3 zone, on the Noront wholly owned claims, drifting for 55 meters along the zone
at 100 meter below surface encountered sulphides over a total exposed length of 30
meters. Assays pending.
- the geological team on site is completing test hole sampling employing jumbo or
jackleg percussion drills to more fully evaluate the three zones and other mineralized
structures encountered during the underground exploration work.
- Bulk samples of several zones in which visible gold was encountered are being recovered with a view to carrying out laboratory-scale testing to assess grade and continuity of the mineralization.
- In addition a program of underground and possibly surface diamond drilling is being considered to establish the extent of mineralization over potentially mineable volumes.
- Management proposes to pause the exploration program during the forthcoming winter months to allow for completion of all assaying, metallurgical testing and a review of progress to date.
- An economic evaluation of the property’s merits and potential for the shareholders is the primary consideration to be addressed.
- Recommendations for future exploration at Windfall Lake, after all work currently underway is completed, will be submitted for Board approval if the latter is positive.
Cheers, Mark
