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First Quarter 2008
At the Caballo Blanco project, drilling will continue to complete the 2,500-metre planned drill program on the Central Grid gold-rich porphyry copper target. A two to three month drilling break is planned during the rainy season starting in mid-August 2008 to compile data, plan additional work and obtain further permits for access. Drilling will commence again in early November 2008 on both Cerro la Paila and other targets in the Northern Zone and on the Central Grid.
At the GJ/Kinaskan project, an updated resource estimate will be completed in August, 2008. An economic evaluation of the project will then be undertaken.
At the Zymo project, the summer program will include extensive geochemical sampling, geological mapping, IP geophysical surveying and diamond drilling.
The Company is continuing to investigate additional resource properties for possible acquisition.
Since the Company does not expect to generate any revenue in the near future, funding requirements are expected to be satisfied through the sale of equity, debt securities or investment to meet ongoing needs.
The mineral industry has remained very strong throughout 2007 and 2008 driven by strong demand from China, India, Eastern Europe and Brazil. Overall, metal prices are expected to be at or above historic averages for the next several years, such that the Company's exploration and development activities should continue to receive strong investor support and wide industry recognition in the year ahead.
2007 Annual Report
At the Caballo Blanco project, drilling will continue to complete the 7,000-metre planned drill program on the Cerro la Paila high-sulphidation gold target. On the Central Grid gold-rich porphyry copper target, a 3,000-metre program is planned to follow up on encouraging results obtained by a previous operator. A two to three month drilling break is planned during the rainy season which starts in August to compile data, plan additional work and obtain further permits for access.
At the GJ/Kinaskan project, an updated resource estimate will be completed in June, 2008. An economic evaluation of the project will also be undertaken.
At the Zymo project, the summer program will include extensive geochemical sampling, geological mapping, IP geophysical surveying and diamond drilling.
The Company is continuing to investigate additional resource properties for possible acquisition.
Since the Company does not expect to generate any revenue in the near future, funding requirements are expected to be satisfied through the sale of equity, debt securities or investment to meet ongoing needs.
The mineral industry has remained very strong throughout 2007 driven by strong demand from China, India, Eastern Europe and Brazil. Overall, metal prices are expected to be at or above historic averages for the next several years, such that the Company's exploration and development activities should continue to receive strong investor support and wide industry recognition in the year ahead.
Third Quarter 2007
At Caballo Blanco, drilling recommenced in mid January 2008. A second rig will be added to the project in early February. In addition to the drilling, ongoing work will include soil sampling, geological mapping, geophysical surveying, road construction and permitting. The initial drill program will consist of 5,000 metres and will be focused on Cerro la Cruz in the Northern Zone where encouraging drill intercepts have been intersected in the past.
At GJ/ Kinaskan, the 2007 drilling program was completed in late September, 2007. The results of the first 52 holes have been released. The Company is awaiting results from an additional 28 holes and these results will be released as they become available. An updated resource estimate will be completed in 2008.
The Company is continuing to investigate additional resource properties for possible acquisition.
Since the Company does not expect to generate any revenue in the near future, funding requirements are expected to be satisfied through the sale of equity to meet on-going needs.
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