timing of jorc results: pr

They had a problem: release a partial result while still drilling or release nothing till the job on Blue Speck was completed.

I would have continued with producing drilling results only but they had promised quite some time ago that an updated resource estimate be issued in the beginning of Nov.

There is still a massive drilling program to be carried out on Blue Speck and I am referring to the depth below 300 m:

Nov 2, Announcement, page 2:
"Resource drilling in the 320m to 470m resource zone at Blue Spec is continuing with two diamond holes recently completed and three more planned for the year. Northwest expects to announce an upgrade of the JORC categorisation of the deposit in the first quarter of 2007".

"Northwest will target the 470m to 620m zone in early 2007 with diamond drilling and is confident of delineating a total resource well in excess of 300,000 oz Au at Blue Spec".

Comment: The report is already somewhat complicated and to issue news of part of the resource is therefore not good PR.

I do think that the total Blue Spec Resource is much greater than 300,000 ounces and there are more deposits to follow starting with "Green Spec", which according to Carmichael Research could be bigger. Gold grades tend to increase with depth as well.

Gerry
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