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Exploring Today's Gold Stocks: Week of March 31, 2008

1Q Ends on a Busy Note for Gold Explorers

By Luke Burgess
Monday, March 31st, 2008

We saw some impressive drill results from companies not yet mentioned in the Gold World Drill Rig last week including 8 meters grading 36.5 grams per tonne of gold recovered by Rubicon Minerals and 61 meters grading a 3.04 g/t gold at Golden Arrow 'sPoncha gold/copper project in San Juan, Argentina.

NEW DRILL PROGRAMS

Freegold Ventures Ltd (TSX: ITF, OTCBB: FGOVF) announced its 2008 work plans for its 100% leased Rob property in the interior of Alaska.The program will include ground geophysics, geologic mapping and additional core drilling to trace and expand the high-grade gold mineralization intersected in all eight of its core holes drilled into the Gray Lead vein last summer, including 29.0 g/t over 13 feet and 20.1 g/t over 13.5 feet, as well as additional mapping, geophysics and drilling on numerous other targets on strike and parallel to the Gray Lead vein. The gold-bearing veins encountered to date on the property share many geological similarities to those currently being mined 20 miles to the west at the 350,000 to 450,000 ounce per year Pogo gold mine, and the numerous untested targets on the property that contain high-grade gold in surface grab sampling similar to those which identified the Gray Lead vein, will also be the subject of the upcoming exploration programs.

Explorator Resources Inc. (TSX-V: EXO) has commenced a 30,000-meter Phase III exploration program at the El Espino-Venus copper-gold project near Illapel, Chile. The program focuses on upgrading and increasing the initial NI 43-101 resource estimate announced February 27, 2008. Upgrading the resource will be accomplished by converting inferred resources to the indicated, and increasing the oxide tonnage to maximize the potential of a start-up, open-pit operation. Increasing the resource will be accomplished by infill drilling to close the gap between the resource area and holes that contained significant intercepts of mineralization but were not included in the resource calculation. As part of the Phase III program, a parallel gold exploration program focused on delineating a potential gold resource has also commenced.

MacDonald Mines Exploration Ltd., (TSX-V: BMK) announced that a 2,500-meter drill program has commenced on its recently optioned Big Mac property in the James Bay Lowlands. Through the option agreement, WSR Gold Inc. (TSX-V: WSR) will be the operator for the exploration of 701 claim units, totaling approximately 11,200 hectares, in the "Ring of Fire", Webequie District of Northern Ontario, near Noront's prolific nickel-copper discovery.

Ontex Resources Ltd (TSX: ONT) announced the imminent start of its 8,000-meter, diamond drill program located on its 100% owned Brookbank Gold Deposit in the Beardmore-Geraldton area of northern Ontario. The diamond drill program will concentrate on infilling portions of the Brookbank Gold Deposit and upgrading mineralization currently in a lower resource category to the indicated and measured categories. Secondly, the program will also focus on increasing the mineral resources between the Broookbank and Cherbourg gold deposits.

Reservoir Capital Corp. (TSX-V: REO) reported that drilling has commenced at the Brestovac Property to test new geophysical anomalies indicative of porphyry and high-sulfidation epithermal gold and copper mineralization. The geophysical anomalies were identified by interpretation of the results from the company's induced polarization survey from December 2007 and ground magnetic surveys. The geophysical anomaly extends over an area of approximately 400 meters by 200 meters and the target is estimated to be at depths of 250 to 450 meters.

First Gold Exploration Inc. (TSX-V: EFG, Pinksheets: FGEXF) announced that it will start another diamond drill program on the Croinor mining lease under option from X-Ore Resources Inc. (TSX-V: XOR). The Croinor deposit located 75 km by road from Val-d'Or is known to contain an estimated 1,429,075 metric tons of 6.31 g/t or 289,000 ounces of gold for combined measured and indicated mineral resources at a cut-off grade of 2.00 g/t in the first 200 meters from surface. In 2007, First Gold completed an additional 8,409 meters of diamond drilling on the project which was successful in extending and better defining the known gold resource. Previously reported infill holes CR-07-332A (15.25 g/t Au over 4 meters) and CR-07-334 (5.19 g/t Au over 10.9 meters) indicate that the quality of the resource has been improved and that the deeper holes CR-07-332A (27.03 g/t Au over 2 meters) and CR-07-334 (4.05 g/t Au over 6 meters) indicate that a mineralized zone not included in the measured mineral resource does exist below 200 meters from surface. This new zone has now been identified over a length of 400 meters. This mineralization as seen above presents a number of high gold grades. First Gold's next drill program will begin in May and will entail a minimum of 5,000 meters which will lead to the preparation of a new NI 43-101 compliant resource.

Seabridge Gold Inc. (TSX-V: SEA, AMEX: SA)
announced that it will undertake a $7.6 million, 15,000 meter core drill program at its 100% owned Kerr-Sulphurets-Mitchell project, located near Stewart, British Columbia, Canada. The program, expected to commence in June, is designed to improve the value of the asset by exploring for higher grade zones, upgrading more of the remaining inferred mineral resources to the indicated category and further expanding the Mitchell zone.

Canaco Resources Inc. (TSX-V: CAN)
announced the initiation of exploration drilling at the company's 100% owned Handeni gold project located in the United Republic of Tanzania. The drilling at Handeni will assess gold mineralization that is currently the object of intensive artisanal mining along a known strike length of 6.25km. Surface geochemical sampling is currently being conducted to test the entire area. The Handeni drilling will comprise three separate programs. Phase I will consist of reverse circulation drilling at Semwaliko North totaling approximately 2,000 meters. The program has started and a drill rig is on site where it will test the gold mineralization, but will also complete water bores to support the Phase II diamond drill program. Diamond drilling at Magambazi and Magambazi North will total approximately 2,700 meters and will also follow up on the drilling at Semwaliko North. A reverse air blast Phase III program has been planned to target soil geochemical anomalies along the trend that could generate additional diamond drill targets.

Buffalo Gold Ltd. (TSX-V: BUF, OTC BB: BYBUF) announced the commencement of a 3,250 meter drill program at the Furtei project, Sardinia. A drill contract has been awarded to the Italian company for up to 1750 meters of diamond core drilling in four holes. In addition the program will include up to 1,500 meters of reverse circulation drilling to be completed by Furtei employees using the company's drill rig.

NEW DRILL RESULTS

West Timmins Mining Inc. (TSX: WTM) and Lake Shore Gold Corp. (TSX: LSG)
Thunder Creek Property, Canada

Drilhole ID Number Intersection
Gold Grade
Comments
TC07-34
6.60 meters 1.62 g/t
n/a
TC07-357.30 meters3.79 g/t n/a
TC07-367.00 meters24.61 g/t n/a
TC07-4329.35 meters4.08 g/t n/a
including
9.00 meters8.57 g/t n/a
TC07-4512.20 meters
1.24 g/t
n/a


Rubicon Minerals Corp. (TSX: RMX, AMEX: RBY)
Phoenix project, Canada

Drilhole ID Number
Intersection
Gold Grade
Comments
F2-07
8.0 meters
36.50 g/t
n/a


Golden Arrow Resource Corp (TSX-V: GRG)
Poncha project, Argentina

Drilhole ID Number
Intersection
Gold Grade
Comments
RCPC13266 meters1.21 g/t included 3.30 g/t Ag
including
34 meters
2.19 g/t
included 4.31 g/t Ag
RCPC1361 meters
3.04 g/t
included 7.16 g/t Ag
RCPC138 meters
10.91 g/t
included 24.00 g/t Ag


Esperanza Silver Corp. (TSX-V: EPZ)
Cerro Jumil project, Mexico

Drilhole ID Number
Intersection
Gold Grade
Comments
RCHE-07-64A
51 meters
1.44 g/t
n/a
RCHE-07-67163.5 meters
0.87 g/t
n/a
RCHE-07-7679.5 meters
1.04 g/t
n/a
RCHE-07-8036 meters 2.53 g/t
n/a
RCHE-07-8054 meters
0.73 g/t
n/a


Oromin Explorations Ltd (TSX-V: OLE, OTC BB: OLEPF)
Sabodala concession, Senegal

Drilhole ID Number
Intersection
Gold Grade
Comments
RC-18930 meters3.33 g/t
n/a
RC-19218 meters
8.41 g/t
n/a
RC-19419 meters8.83 g/tn/a
RC-20123 meters6.47 g/tn/a
DH-19927 meters3.47 g/tn/a
DH-1898 meters14.57 g/tn/a


Did we miss a new exploration program or set of drill results that you think are noteworthy? Tell us by making a comment below.


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Comments:

Comment by Peter Strychowskyj on 2008-04-03
What is your opinion of Stratabound Minerals out of Calgary? They had some promising news a few years ago and were talking about going into production in a few years. The president Stan Stricker.

Comment by Folker Kuster on 2008-04-03
Gold Resources Corp, is showing continously good drilling results.
GORO will go into production possibly end 2008.
RGDS

Comment by kevin on 2008-04-02
Hi your features are good but check out, bmm , latest high grade drill results better than anything you have mentioned so far and still cheap but not for long .

Comment by Marc Caron on 2008-04-02
MDN is going to be debt free soon and tulawaka is starting underground as of now... results of drillings on isambara and vyonza
are in in a month or two check that story...

"No man should be governed by another" - Luke Burgess
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