GREY:LBEFF - Post by User
Comment by
angler21on Jan 07, 2008 6:32pm
479 Views
Post# 14164362
RE: why didn''''t SP go way higher on news?
RE: why didn''''t SP go way higher on news?First TSX is down over 100 pts and venture is down 29. We had a high of 1.56 and low of 1.43. It actually is a good news release. This drilling confirms there is a 2nd lower sulphide pool for over 150 meters on strike between 310 and 420 meters below surface. In Apr it ws announced we had Massive Sulphides at 115 m. In Aug we knew that the deposit was open to the east, west & depth. Now we know it is 150 m wide, 15 m deep and it goes for 110 m at 1.7% Ni. This property will give us at least 3 years mine life and as it becomes drilled out the life may be even longer. We are approaching a seven year mine life.
This is not news that McWatters is now in production, it is not a Ni43-101 but this is still good news and it will be interesting to see our legitimate resource estimate when all is said and done.
The felsic dyke from DH 37 tends to suggest there may still be more to come. The Azimuth changed from 360 to 19 on that hole.