RE: RE: RE: RE: RE: RE: RE: E. SouthI e-mailed Dr. Robinson yesterday with some questions and received the following reply regarding the revised 43-101, very interesting in light of the recent discussions on this board.....
Drilling is now complete at Eau Claire until Feb. 2009. Our business plan is to continue with the definition drill program from the ice in Feb/March. Any future resource update will occur after the winter 2009 program is completed. From discussions with our largest shareholder and observations from previous acquisitions by the senior sector, a resource estimate was not a contributing factor, in fact just the opposite. Both Gold Eagle and Virginia were acquired by Goldcorp and neither company produced a resource estimate. Often the market puts a limit on the upside of a project once a resource estimate is released. We plan to continue to add value through drilling. Assay data from the past 12 months of drilling is excellent and there are clearly new veins and hence resources that are not part of the existing resource. The average grade from the past 12 months is also very good.