Interesting statment in Ontex (ONT-v) latest release:

"due to the global economic decline, drilling costs in 2009 are expected to be about 65 per cent of the costs incurred in 2008. This will allow for significantly more drilling..."

65% of the cost means 54% more drilling with same amount of money. For example, the same number of meters last year that cost you $1M would now only cost you $650k. Leaves you with $350k for extra drilling with same $1M budget. $350k divided by $650k gives you 54% more drilling in 2009 with same budget. Or, alternatively, the same amount of drilling for 65% less. These are significant savings.

red911

Ontex to focus more on Brookbank gold property in 2009

2009-02-24 10:01 ET - News Release

Mr. John Thompson reports

ONTEX 2009 FOCUS TO INCREASE GOLD RESOURCES ON BROOKBANK GOLD PROPERTY

Ontex Resources Ltd. has provided an update on its planned 2009 activities, in anticipation of a second consecutive successful year.

Ontex continues its aggressive approach with an annual exploration budget in excess of $2.3-million for the second year in a row. Diamond drilling is expected to commence in March, and is targeted to continue expansion of resources within the seven-kilometre mineralization corridor centered on the Brookbank gold deposit.

Drill results in 2008 were exceptional. Higher gold values have never been encountered over such impressive widths in the entire history of drilling in the Beardmore-Geraldton area. This strongly emphasizes the potential for the Brookbank deposit to host extensive gold resources both along strike and at depth. The system remains wide open in all directions, demonstrating the enormous potential to locate additional gold with every future drill program.

The company will finalize a drilling contract this month and due to the global economic decline, drilling costs in 2009 are expected to be about 65 per cent of the costs incurred in 2008. This will allow for significantly more drilling and more gold resource delineation for the same expenditure.

The company also welcomes legendary explorationist, Kenneth Reading, to its field team. Mr. Reading has over 60 plus years of expertise in North and South American discoveries, and an impeccable reputation throughout the mining industry. After thoroughly investigating the company's Brookbank property, Mr. Reading said: "I believe that the Brookbank gold deposit holds the greatest known potential to become the next producer in the Beardmore-Geraldton greenstone belt. I am impressed by the evident dedication of these people and look forward to working with them in Ontex."

A research report by another well known mining analyst is now being compiled for release in March, and the company anticipate similarly positive views. The writer was on-site at the company's Brookbank camp last week and conducted due diligence by carefully analyzing drill core and reviewing collar locations. In addition, a 43-101 report by Scott Wilson Roscoe Postle is being finalized and the resource estimation is expected to be announced next month.

Buoyed by increasingly high levels of confidence in its future, the staff of Ontex continues to increase corporate communications efforts to keep the company's existing shareholders well informed, and ensure the company's very positive story is more widely known in the market place. From being the little engine that could, Ontex is rapidly becoming the big engine that will, and increasing investor confidence is fully supported by impressive past results and future possibilities.

The Cambridge Show in Vancouver offered the company's technical staff the opportunity to provide an analysis on the Brookbank gold deposit to significant numbers of junior and senior mining company representatives, sector analysts and individuals. The company looks forward to sharing more of the Ontex Brookbank success story at the PDAC as the company welcomes everyone to booth No. 3214 from March 1 to 4, for a personal overview of the company's continuing plans.

We seek Safe Harbor.