Nevada 2005 workWith the news release out today on Nevada, I had to go over my notes from the Jan. 2005 AGM just to see how far we have come this year. Since no drills have turned in Nevada, what work has been done? As it turns out, a lot of fieldwork and analysis on the various properties has been put together in anticipation of a JV to fund the drilling.
My notes tell me that as of last January Cantex had 4 targets defined to the drill stage. Although it was not stated at the time I believe they were located at Weepah South and Baxter Springs. Now the end of December, Cantex has 17 targets defined ;
Weepah South – 1,
Baxter Springs – 3,
Bruner – 1,
Carico Lake – 3,
Gold Basin – 1,
Leonard Creek – 8.
That's a 425% increase in targets and a 8300 meter drill program planned for these targets.
Despite all my frustrations with not having a drill program start this year , I must admit we are making progress! I am sure Chuck would have liked to have quicker progress as well as he had said he would have wanted to drill between 5 and 7 targets this year. The delay just may work to our advantage as the price of gold is up significantly from last January and with every dollar increase in gold, Cantex’s negotiating postion when it comes to a JV is enhanced.
The icing on the cake in any negotation just my be the Carico Lake targets - smack in the middle of the Cortez Trend.
P10