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November 19, 2007
Reported that due to disappointing results of the 11 holes drilled on Hot Springs North, Valmy Hills, determined that no further exploration is warranted on Vasquir and Montezuma. In 2006, no exploration activity was conducted on the Montezuma area in 2006 and the total costs allocated to Montezuma were overhead allocations of $42,000 and claim maintenance payments of $73,000. Management believes there has been no further impairment of value
April 28, 2006
Contracted a mud rotary drilling rig for the entire program, which was contemplated to consist of nine holes. Four sites had been permitted and three to four holes were expected in the Vasquir area as follow ups to the previously drilled 1,777-foot hole which contained and bottomed in 774 feet of silicified upper plate rocks with multiple stage brecciation.
September 30, 2005
9 holes were completed in the first 3 quarters of 2005 for a total depth of 17,934 feet, of which 4,429 feet was cored. No significant ore-grade assays were found in those nine holes. Significant pathfinder elements including arsenic, antimony and mercury associated with strong alteration were encountered in all holes. In the mud rotary portions of the holes, gold assays have been found in all holes above bedrock including in one case a gold assay of 60 ft of 168 ppb.