Sunday, February 13, 2011

Glorieux

Hi Glorieux,

Glad to hear about Hoov having success on the BoD of Galahad. I`m glad for him. I`m familiar with him because I notice him one day chatting about a topic I was interested in. I think he was chatting on agoracom. He mentioned he had written a technical report about the geology in the Beauce-Bellechasse area of southern Quebec. I contacted him to get a copy of that detailed report. He was really nice about it. He sent an online copy to me the next day. Tell him I said hello and wish him the very best with his efforts at this company.

I finally got around to take a quick glance at Galahad Metals, in order to reply to your request about whether it would be a good proximity fit for CMM down the road.

I think it would - once it is more advanced down the road. Actually, Galahad may even have some other options to team up with, in other early stage explo juniors within the outer limits of the Val d`Or region, on the east side - to pool resource ounces together and form a larger company (and potentially reach economical, advanced stages quicker, including scoping, prefeas., final feas., development, etc.). But, that is probably a while longer down the road.

For example, if one company has 400K ounces and another company has 600K ounces then why not pool resources together and graduate to a more advanced stage in faster time while the gold price remains high - only if the economics or the ore bodies support satellite feeds of course.

There are a couple of projects on the east side of Val d`Or that can probably be viewed as pooling potential assets (eventually). One is Simkar (owned by Eloro Resources) and the other is Croinor (JV between Blue Note and First Gold Exploration). There are others coming up also (but at earlier stages currently).

Galahad is likely positioned well for custom milling access also. Alexis Minerals offers custom milling, due to severe shortage of ore from their mine. Eloro will likely use the Alexis mill in a year or two. The Croinor ore might go to the Alexis mill also.

Any of these companies can join up with Century if their ore is pure. I think silver might be ok, but the ore can`t have any base metals (per Peggy in the past).

I (myself) will probably stay away from commenting too much on the Galahad property results. I don`t have sufficient knowledge to do them justice. My skillsets work better with more advanced exploration properties. Nevertheless, a couple of holes from their initial drill program were very interesting (very positive). They certainly appear to have a lot of potential.

Also, I tend to like visuals. I like to see maps and diagrams, coupled with exploration data and style of mineralization, along with tendencies on the specific property and the area in general, and then try to extrapolate possible scenarios.

Tell Hoov to get them to put together some visuals once they have more data and a better handle on the mineralized structures.

It sounds like the type of property that will take a bit of extra time, but could be rewarding when they do the work and put the pieces together. They seem to have started very well.

Glorieux, by the way, I viewed the Smartstox.com interview. I found it to be very informative. I would recommend viewing it for anyone interested in learning more about this company. Here is the link:

http://www.smartstox.com/interviews/gax/

Actually, the video has some good diagrams. Galahan should put some of these up on their website. I`m sure they are likely (currently) working on updating their site.

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