This is what they think they have......feel confid From Bryan Penny CEV chairman of operation and Forbes & Manhattan employee:
“Starting mid-May, we anticipate going in (Block 103) and drilling between 15,000 to 20,000 metres for 2012,”
We’re also going to put 5,000 metres in our Redmond deposits (DSO) in 2012, and that would be a near-term type of deposit that might generate 1 to 2 million tonnes per year" ;
Based on what we’ve released so far, we’re undervalued. I think we’re going to prove up a deposit that will be comparable to New Millennium’s
From Lawrence Roulson :
The company intends to operate four drills through this year to support a resource estimate anticipated by year end:
A recent meeting with the company's new president provided an improved understanding of the project and great deal of comfort that Cap-Ex will advance the project in a way that investors will realize the upside potential.;
The Cap-Ex geological team believes that the Redmond property has the potential for one or more so-called DSO deposits. Drilling late last year identified 11 hematite zones with thicknesses of 10 meters to 73 meters. Assays and other test work results are pending. Cap-Ex is evaluating the development of its own DSO operation that might produce something in the order of a million tonnes per year of DSO and thereby generate considerable cash flow.
GLTA