re re re endlessabsolutely no need to raise money - they have 5 million but must spend about a million on flow -thru no choice but at least it will be spent on a much better property. I will be doing more detail investigation into Calder - this is a good prospect - lots of control with several historical holes containing good intercepts - drilling to start after spring breakup - there will be good hits here (unlike Felix ) - Calder is a proven area with excellent potential BUT - - -
The main attraction remains the deep drilling at Nelligan . Drilling is ongoing and I suspect at least 4+ deep holes done now( 650+m /hole) - probably about two weeks left in the drilling season before breakup. If IMG drills down to 725+m then I expect they will penetrate very thick intersections of gold . Anywhere under the pitshell will encounter the two liam zones , the zone 36, the Renard two and the Renard one mineralized sedimentary packages - all told could accumulate up tp 250 -300m of mineralization - this is clearly the thickest part of the deposit and also contains the highest grades!! If the locations are anywhere near holes NE-20 -147, 162 and 157 then EXPECT some gamechanging results. Everything in this area will be THICK with likely several intervals of excellent highgrade. A few additional exploratory holes to the southwest, south ( deeper still) and northeast under Lac D'Eu will double the size of the pitshell . Remember ,the Renard one is wide open under the Lac D'Eu and all the way ( 1km ) to our eastern boundary . Nothing has been drilled out here since 2018 and where hole 95 -01 encountered 22m @1.75g/t - in fact the hole did not even penetrate the Renard one ( which was completely unknown in 1995 ) and to date no holes have been drilled deep enough to find the Renard one. None the less ,huge potential out in this direction as well.
Eventually this all leads to an updated 43-101 which will take time as there will be some 40-50 new holes to incorporate into the known resource. It will be a question of when IMG will do this . It is difficult to continue to drill new holes with new information and expect to have a totally updated resource.
and for all those selling , remember 1million ounces in the ground is worth a MINIMUM of $50cdn/ ounce or $0.82 cdn / share of VSR by itself!!! ( and this deposit has a long way to grow!! )