Following up on the Jota property news of Friday, and in absence of a formal geological report for the time being, recall what was discussed regarding the Jota property at last year's AGM when the acquisition was being contemplated:
Larry Regis:
1) The first property we're going to look at and pursue is the Jorta (Note: he misspelled Jota and was later corrected) near Chimpana.
2) The property is approximately 13.5 miles long by 2.5 miles wide.
3) There are over 100 drill holes on the property.
4) The average value of drilling indicates a minimum amount of about .45 grams of gold per ton.
5) Company was in negotiations at that time to acquire a position.
Greg Chapin:
1) Drill holes were done in step outs.
JJ Quijano:
"Jota project is a very fantastic and a great project in the north of Chile in the first region about 140 km to the south from the (unintelligible) Iquique. A lot of years ago the State was there and do a lot of exploration with 1 drill each 100 meters in 20 kilometers and you can see the gold in over 70% of samples. We believe that this project for the company, for this company, and maybe for other ones, could be a mineral deposit, reserve deposits of gold over $6 billion dollars. That means that we are talking about billions of dollars. We have the complete exploration of the State that was through different geologists from Chile, from Germany, and we (unintelligible) worked in that place about 2 years and a half."...