mining news. , page-7

In my view the most significant part of the 31 March announcement was that the orientation of the holes used to calculate the Area 3 resource was crappy, meaning that there is a significant possibility that the grade of Area 3 is significantly understated. At the moment Area 3 is approx 200,[email protected] g/t. The Chairman's comment in the miningnews story is:

"What we are hoping to do is to establish a high-grade resource in order of the same sort of grade in Area 1 and Area 2 which is more in line with 18-20 grams. In some of the intersections we drilled before at Area 3 we got over 200 grams in some of the holes. By the time we put the resource around it and kriged the numbers it came back to 8.3gpt so that is the reason why we are doing this drilling."

The diamond drilling on Area 3 has not commenced as yet (some geotech drilling will take priority this month) so we may not here anything at least until the AGM at the end of May. DD works by the Banks is being done this month, so hopefully that will be wrapped up by months end or early May.

All in all, it may be a quite news month for BMO so price may drift a bit. Possibly once the financing is in place and transfer of plant from SMO has gone ahead, we may see some more support coming in.

angus