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AGORACOM Wire - Wednesday February 15th, 2012

Breaking News ....

Lomiko (LMR: TSX-V) to Complete 43-101 Report on Previous Drilling at the Quatre Milles Graphite Property *CLIENT* Read More

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Strike Graphite Corp. (TSXV:SRK) Acquires Wagon Graphite Project in Quebec in Vicinity of Timcal's Lac des Iles Graphite Mine *CLIENT* Read More | Profile

Strike Graphite goes "Beyond the Press Release"

McLaren Resources (CNSX:MCL) Drills 7.0 Grams Gold Over 7.4 Metres at the TimGinn Property Located Adjacent to the Hollinger Mine *CLIENT* Read More | Watch Beyond the Press Release

DONNER METALS INTERVIEW: David Patterson Discusses the Bracemac-McLeod Mine Development Beyond the Press Release

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Message: Skinny123 states “Money issues, they were only able to raise $2.3 million,--“

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Skinny123 states “Money issues, they were only able to raise $2.3 million,--“

posted on Apr 05, 09 06:32PM

Ontex has over $ 4 million in the bank, of which $2.3 mm is budgeted for the 2009 drill program.

I understand drill costs are 30% less than last year.

Scott Wilson RPA has recommended 43 strategically designed holes be drilled on the Brookbank Property, to add gold resources to inventory, and to upgrade Inferred resources to the Indicated category.

Therefore if the average hole drilled was 425 meters (m), then 43 holes x 425m = 18,275m.

Proposed drill budget of $ 2.3 million divided by 18,275m = $125.85 per meter, including soft costs.

These projections are subject to comments, which are invited.

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Like Ontex Resources Limited? Then you might also be interested in McLaren Resources

McLaren Resources

Blue Quartz Property surrounded by numerous past and presently productive gold mines
Black Fox mine (Brigus Gold), the Hislop mine ( St Andrews Goldfields)
Recent Drill Results include 63m of 1.21 g\t gold and 2m of 13.95 g/t gold

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