The joint venture partners have approved a $7.1 million exploration program for 2011 to be equally funded
by the Company and Marathon, with Marathon as the Operator. The program will focus on diamond drilling
in the upper sections of the Leprechaun Deposit to determine the potential for open pit mining, drilling at
Valentine East, and drilling in the vicinity of the Sprite Zone which is situated 800m along strike from the
Leprechaun deposit to the northeast. A total of 7,671 meters were completed prior to a temporary cessation
of drilling due to poor ground conditions in mid March related to spring break up. Six holes totaling 1307
metres were drilled at Valentine East, eight holes (1146 metres) were drilled in the vicinity of the Sprite Zone
and 45 holes totaling 5217 metres were completed at the Leprechaun Deposit. The results of the drilling
campaigns are very encouraging with numerous wide intervals of gold mineralization ranging up to 25 metres of 6.7 gpt Au per tonne and high grades of gold containing up to 38.3 gpt Au over 9 m in 2010, and
from 2011, 9.68 gpt Au over 12.8 metres and 3.75 gpt Au over 37.5 metres (all widths are true thicknesses)..
Gold mineralization has also been identified in multiple zones parallel to the main mineralized lens in both
hangingwall (above) and footwall (below) settings.
Wonder why the MD&A, which a lot of people don't ever bother to read, actually provides better and more detailed news than the on-going drilling NR's do??
There are some pretty serious grade/width numbers here! Also noticed that the budget is stated now to be $7.1MM up from earlier indications that is was going to be $6MM. They must like what they see and no doubt will be in a hurry to get back to finish up the 25,000m 2011 program...then there should continue be drilling news coming every few weeks way into the fall....
C.Gert