short-medium term producer

Good announcement out last yesterday regarding funding for its acquisition of a near term producer.

From ann:

"The Company now anticipate settling the acquisition in late March 2010. The Company intends implementing an aggressive 15,000 20,000 metre drilling programme at the project shortly thereafter."

Further:

"The resource base at the Cameron Lake Gold Project now comprises 11.3 million tonnes at 2.77 g/t gold for 1,005,833 ounces of gold (1.5 g/t gold cutoff). The Companys medium term target is to delineate 1.5-2.0 million ounces of gold at the Cameron Lake Gold Project as it moves this project through feasibility studies and towards production during 2010."

1M Oz of gold moving towards production within 24 months is not bad for a market cap of $20M!

Should be seeing further drill results from both Ardeen and Cameron Lake.