Cannon Exploration Inc. (fka CNEX)

[Freedomxxxxxxx]

#1. I believe & consider the current CNEX PR report leans to a positive outcome. Why? See an excerpt from the current PR with my brief opinion;

…”Cannon will continue with the exploration of the property in late July 2010, by conducting an Induced Polarization (IP) survey over a much larger area than the previous surveys. The summer program will also include a much larger rock and soil sampling program, as well as some additional line cutting to increase the size of the grid” (PR. 6/10/10)…

If there was no evidence of gold and or other base metals why would a company continue to invest additional capitol with an Induced Polarization survey of the potential land area?

JMO but, it make good business sense. Why? before you execute a full blown mining expedition,(means addition spending capitol),you would want to verify and validate the area where you will be drilling, excavate, develop “get the most bang for your buck” ….. being a penny wise vs a dollar foolish.. one might say!… Does it not make sense to explore and prove the potential area(s) before one implement a full blown mining production ?

Furthermore ,please notice the wording, according from the 5/10/10 PR >>…..”area’s geology is structurally complex & untouched”..,.. moreover mention “Red Lake,” historically develop & very mature gold mining area.(big bucks$$$ in the Red L. location)
…..The area's geology is structurally complex and much of what lies deep down is relatively untouched. In the Kenora area, compared to more established camps like Red Lake, there's only a few diamond drill holes that have penetrated down 1,000 feet. Many companies are referring to historical information (drill logs, prospecting/assessment reports, government surveys and records, production logs) in an effort to take some of the guesswork out of the search for metals in the area.

#2. It is also JMO, that CNEX continue to employ the newly hired consulting geologist company who will submit the report & move CNEX forward in becoming compliant with the NI 43 101 standards…With the added benefit of a “New partner”…… Who is this New minig partner? ...Champion? ????

PR from : 5/10/10….The company has also engaged a new geophysics company to contract for the management of the next phase of exploration on the property. Currently the companies are in the process of reviewing data from the previous exploration programs, and will draw from the information to complete the plan for the spring/summer program. ……The move to a new partner…… for the exploration of the Queen Alexandra is based on the company's desire to become compliant with the NI 43 101 standards on a going forward basis.

Go CNEX

Freedom X