Project activity during the quarter included:
Drilling on the Eagle’s nest deposit has confirmed the continuity of the previously reported mineralization encountered below Eagle’s Nest (formerly referred to as Eagle One B and C). The results confirm that Eagle’s Nest is one structure and has continuous mineralization to a depth of 1,100 metres;
The Company completed its NI 43‐101 Technical Report and resource estimate on the Blackbird (chromite) deposits;
Two sections of the planned airborne gradient magnetometer survey over all of the Company’s properties was completed, while the remaining two sections are planned to be completed within the first three months of calendar 2010;
The geological study to determine the age of the host rock in the Ring of Fire was completed during the quarter with the results currently being interpreted; and
Newly obtained assay results and detailed modeling at the Blackbird deposits indicated a new, distinct gold zone which has been drill traced over a 1.0 kilometre strike length.
Planned exploration work on the Company’s claims in the McFaulds Lake area over the third and fourth quarters will include:
Infill drilling on the Eagle’s Nest deposit to a depth of 1,200 metres in order to provide sufficient data to complete an updated NI 43‐101 technical report;
Drilling down to a depth of 2,500 metres on the Eagle’s Nest deposit to confirm the continuity of the deposit at depth;
Completing the remaining two sections of the airborne gradient magnetometer survey over all of the Company’s properties which will provide enhanced drill targeting capabilities;
The Company plans to re‐sample core of all drill holes that went through the Triple J gold zone, while drilling the Blackbird deposits and conduct additional test drilling, if justified;
Reviewing all existing geophysical data over the Ring of Fire area in order to identify additional areas of interest and prioritize future drill targets; and
Conducting further drilling on the AT‐12 anomaly as a result of refining the geological interpretation of the anomaly.
