Drilling work continues on the Borden Lake property. Things seem to be moving rather quickly. I have spoken to a few people who are quite skeptical about the whole affair. While I do tend to be overly optimistic, it seems quite clear that there is great potential for the site. This is good news for all of us. Hopefully, in the near future, after the second-phase drilling is complete, some more concrete announcements will be made. Then we can really see what the future holds for Chapleau.
Here is the latest update from Probe Mines:
http://www.probemines.com/s/News_Releases.asp?ReportID=430266&_Type=News-Releases&_Title=Probe-Mines-Announces-Second-Phase-Drilling-Program-on-the-Borden-Lake-Gold...
Any exploration work is promising. What people must remember that just because there is a find, doesn't mean that there will be an operational mine next year. The time frame from initial exploration to functioning mine is between 6 and 10 years.
ReplyDeleteThe results from the core samples are promising. It's also encouraging that the hanging wall and the foot wall have not yet been defined. This means that they do not yet know how large the deposit is.