The revised resource estimate has been released and the market has awarded no share value increase. I agree that with other comments that the PEA is not going to have much affect on the share price either. The best opportunity to add near term value is to establish the likelihood of significant strike extension to the deposit. I went through the assay tables in the 2009 Magino resource estimate done by GGR. The 2002 program appeared to be targetting strike extension to the SW up to a kilometer away or about double the strike length of the existing deposit. About half the assay results had "no significant result" and the others don't look impressive at first glance. But they do establish that gold mineralization extends to the SW as much as a kilometer away. The 2800 m of re-sampling and assaying carried out on the 2006 cores proved that the data presented in the 2009 report is of very limited value in defining an open pit resource. For example, hole 06-15 went from 14.24 g/t over 5 m in the 2009 report to 1.84 g/t over 114 m in the revised report. What I'd like to see released soon are some results from the current drill program that prove this deposit has room to grow along strike. Adding deep wells is not as important for establishing an open pittable resource. We'll see next week if the market likes what they hear at the PDAC.
