VERY interesting news!VERY good for KWG: (from NOT page)
The Company currently holds two large claim blocks in which management believes to be the next large base metal camp in Canada, McFaulds Lake in northeastern Ontario. Since base metal deposits in other Canadian Camps, Noranda for example, appear in clusters, the Company actively staked as much ground as finances allowed around the three recent and significant discoveries of Spider Resources and KWG's joint venture in the McFaulds Lake camp. Significant new diamond drill results recently announced by Spider/KWG returned copper results as follows:
13.8m of 5.5% copper incl. 4.63m of 10.4% copper AND a second hole returned 15.0m of 4.06% copper and 3.31m of 9.98% copper
Noront holds 12 contiguous claims (north block) comprising approximately 180 units as well as 4 claims comprising approximately 64 units in a joint venture with Freewest Resources as previously announced, which claim group is contiguous to the south and west of the original Spider/KWG claim group.
Additionally, the Company has acquired 13 contiguous claims comprised of 208 units located south west of the Company's north block. A third block of 10 claims consisting of approximately 150 units contiguous to the Company's south west block, was purchased from a private company and will, upon regulatory approvals, be recorded in the company's name. The Company will have acquired or joint ventured a total of approximately 602 40-acre units or 24,480 acres or about 9700 hectares.
The southwest block is located at the limit of an airborne magnetometer and Geotem electromagnetic survey completed last summer over a portion of the Company's holdings. On the limit of the survey a number of high priority targets were outlined, see map attached. Numerous other high priority targets are also indicated over the flown claim group.
A ground follow up program of line cutting and magnetometer and horizontal loop surveys at a cost of $270,000 is currently underway in order to prioritize a diamond drill program expected to commence this summer. A further airborne survey will also be conducted over the new claims during this summer.