The 39 hole drill program at Bear Lake started in January, I imagine the first results should be arriving shortly. NFX has made a nice up move the last few days, MXV normally follows.
From the Jan. 10th PR.
"The 2008 drilling program will systematically test the Bear Lake high-grade gold zones
intersected in hole #11: 10.4 g/t Au over 5.2 m, including 20.8 g/t Au over 1.5 m and 8.0 g/t Au
over 10.2 m, including 18.6 g/t over 4.2 m as reported on August 16, 2007. The program will
investigate the zone along strike and down-plunge to a vertical depth of 1000 m. Results from the
five holes completed to date on the Bear Lake Gold Zone confirmed the presence of an extensive
very continuous gold mineralization system encompassing both high-grade and low-grade lenses.
Furthermore, the style ("carbonate"-type and "flow"-type) and grade (ranging from 9 to 11 g/t
Au) of the mineralization are typical of the world class Kerr-Addison deposits located only 5km
to the east, along the same geological structure. An aggressive drilling program consisting of a
minimum of 39 holes totalling 34,000 m, spaced 125 to 150 m apart, is underway at Bear Lake in
order to delineate the higher-grade lenses occurring within the gold zone. Since part of the
drilling has to be completed from the ice surface on Bear Lake, two to three drill rigs will be used
to complete the drilling before break-up.
