After the deposit expansion drilling, the orebody remains open to the north and northeast, while the northwest has not yet been drilled. All these areas will be targeted in the 2010 drill program.
Pending the forthcoming drill results, the company hopes to be in a position to deliver an upgraded resource/reserve and grade calculation later in October 2009. Final mining design, pit optimization and mine schedule will be incorporated into an updated financial model that the company believes will increase the overall value of Valencia. This is a vital step in advancing the project and will be instrumental in finalizing strategic options.
