“The deposit has a significant merit. It’s a large deposit for southern Ontario in terms of gold—as per the old NI 43-101 it has 630,000 ounces. But that’s at $700 gold and before we did a 6,500 metre drill program, which turned up very consistent results, comparable with past drill results if not better.
“We’re ahead of schedule and under budget. We’re well funded—in terms of our G & A we’ve got well over two years of burn in the kitty—and we’ve got flow-through left over from the drill program. So the next step is to redo the NI 43-101 and move on to scoping and baseline studies.
“It’s a pretty linear story. It’s a great little deposit, that’s way off the radar screen. A lot of people are very surprised when they realize there are that many ounces in that part of Ontario. All in, all up, we’ve had no negative surprises with this drilling program and plenty of positive surprises. So we’re pretty happy.”
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