$EXS...IMHO... In 1978, I bought my first mining stocks. One of them was a ‘Primary’ or IPO named Corona Resources, which went on, eventually, to establish the Hemlo gold deposit in Northern Ontario. I was in and out of that stock fairly quickly with a good profit, working under the direction of an experienced stock broker. Subsequently, however, they grinded out some 75 exploratory holes, before they actually hit their ‘Glory’ hole. In an area the size of our Ogden collection, with very little history of any deeper drilling, based on my experience, I think its very promising that we found GOLD values in two holes, spaced 2kilometers apart. Importantly as well, the geology encountered in all 6 holes drilled proved we are in a potential GOLD bearing region. Obviously, many felt, by rumour, or neighbouring results, that what CD and the team at EXS/EXSFF created, was a far cry from expectations. I, on the other hand, feel we have established an area worth focussing on for further exploration, moving forward. I also feel that the ‘value’ of the Ogden properties has been considerably enhanced, and strengthens my belief that Tahoe will be even more resolved to acquire the TPW/Ogden, or in fact, the whole company in the near future.
The second hole north of the Kidd Mine has reached 1,000meters in depth. Before drilling deeper, the geologist on site will carefully study the core, especially at depth, to evaluate the Exhalite content, and nature of the Mafic Volcanics encountered. This evaluation will include down hole IP (INDUCED POLARISATION. A geophysical prospecting method of passing an electrical current through the ground and measuring the effect of rocks and minerals in its path.) At that point decisions can be made on ‘wedging’, drilling a number of holes in different directions, at depth, stemming off the original drill hole. This process will provide a greater probability for success, accessing the VMS deposit ‘rumoured’ to be below us. Its also a lot cheaper than moving to a third target, although that possibility has not been ruled out.
