Exploration 
In July 1998, Tagalder entered into a joint venture with Regal Goldfields Limited to carry out its 1998 drilling program. WGM (Watts, Griffis and McOuat, Consulting Geologists and Engineers of Toronto), was contracted to manage the exploration program. A diamond drillhole in length of 509 meters was completed to test the basal part of the intrusion in the area of one of the magnetic anomalies.

In WGM's October 1998 report, it states that the drilling was successful in confirming there were significant quantities of sulfides in the basal portion of the intrusion. A large area of magnetic anomalies, similar to the one drilled, occurs about 7 kilometers to the southeast. These anomalies occur within the basal part of the intrusion, at its intersection with a southeast trending magnetic anomaly, which is interpreted by WGM was possibly representing a feeder dyke to the intrusion. WGM has recommended that exploration be focused in this area, as the greater degree of mixing which could be expected in this environment favorable for the formation of more nickel-copper rich sulfides.

All of the data from the project was reviewed and analyzed by Dr. Tony Naldrett, a noted international nickel specialist and Professor at University of Toronto. Both WGM and Dr. Naldrett recommended further exploration work at the southern end of the Labrador properties. This could include side scan and vertical sonar, an underwater EM survey, dredging and further drilling.

Current Status
It is widely expected that the mineral price may soon start to recover from its low and Inco will finally reach a favorable settlement with the Newfoundland government to go ahead with its Voisey's Bay project. Tagalder decided to hold on to its valuable claims and wait for the mineral upturn to negotiate further joint venture drilling program. Tagalder, with its completion of the 1998 program, can hold onto the claims without further spending until year 2001.

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