CefaJust very suprised that he would let something like that...

Cefa

Just very suprised that he would let something like that slip. If you are 100% sure of this, then its great news.

When I spoke to him, he was like a vault. Only thing I got out of him was about a third hole.

"Is the second hole looking positive?". Can't comment.

"If and when you start a third hole, how far from the second hole will it be?". Can't comment.

"Will the rig need to go for repairs once the second hole has been finished given the recent problems?".

He said no it won't and that they have an arrangement with another company that is also looking to diamond drill out that way about cost sharing (ie, mobe and demobe). Given the delays in hole 2, the rig was now due to go to the other company, BUT VMS had been negotiating with the other company to be able to get straight stuck into a third hole. Bingo.

So, no stories from me, just what I heard from the Company.

Seems positive that they are so keen to get into a third hole. They had planned a four hole program, but you would think that if the first two holes were duds they perhaps would have decided to apply funds at other targets to get some positive news flowing before drilling again at Churchill. These deep diamond holes are very expensive ($100,000 or so each just for the metreage) and burn through the funds.