Oct. 31 - CRN.VSE - Drilling Results
Drilling results from Sheraton-Timmins property
Cross Lake Minerals Ltd CRN
Shares issued 27,988,580 Oct 30 close $3.06
Fri 31 Oct 97 News Release
Mr Henry Ewanchuk reports
The company has received all of the remaining assay results for holes CLS
97-6, 97-8 and 97-11 to 97-17 which were drilled to test a number of
different IP (induced polarization) targets on the northern part of the
company's 100% owned Sheraton-Timmins property. Eight of the eleven holes
completed in the recent program were directed at the footwall alteration
zone to the north side of the semi-massive sulphide zone intersected by
holes CLS 97-16 and 97-17. Assays for the remaining parts of hole CLS 97-16
were received which allowed for the calculation of average grades over the
complete width of the mineralized zones. Zinc mineralization has been noted
over a 1.6km length of the Cross Lake zone. Some of the highlights of the
holes are as follows:
Hole CLS 97-16 contained additional zinc mineralization from 311.0 to 336.5
metres (25.5 metres) in a rhyolite breccia adjacent to and on the south
side of the higher grade massive sulphide zone. Assays from this 25.5 metre
section averaged 1.37% zinc and 12.74 grams per tonne silver and the zinc
intersection now runs from 182.0 to 336.5 metres (154.5 metres) with assays
averaging 2.24% zinc, 61.35 grams per tonne silver and 0.425% lead.
Hole CLS 97-17 contained important copper-silver values (see news in
Stockwatch October 27 1997). No further significant assays were obtained in
the remainder of this hole.
Hole CLS 97-6, 1.2km southwest of hole 97-16, intersected two zones of zinc
mineralization; one from 177.4 to 192.0 metres (14.6 metres) averaged 1.54%
zinc and another from 207.1 to 211.5 metres (4.4 metres) averaged 2.11%
zinc. Chlorite-garnet alteration is present.
Hole CLS 97-8, 1.1km southwest of CLS 97-16, also intersected zinc values
from 101.8 to 108.3 metres (6.5 metres) averaging 0.98% zinc associated
with chert zones.
Hole CLS 97-11 and 97-15 intersected mainly footwall mineralization;
however, strong IP anomalies south of the collars of these two holes is
interpreted to be associated with the semi-massive sulphide zone cut by
hole CLS 97-16, 400 metres away. Hole CLS 97-11 from 144.6 to 161.1 metres
(16.5 metres) averaged 0.268% copper. Anomalous zinc values in the footwall
zone were encountered between 154.9 to 203 metres (48.1 metres).
Hole CLS 97-15 contained two zones with anomalous zinc zones; one from
141.5 to 164.5 (23 metres) and another from 173 to 211 metres (38 metres).
Hole CLS 97-12 intersected a copper chlorite alteration zone (footwall
copper zone) from 166.7 to 178.4 metres (11.7 metres) averaging 0.60%
copper, as well as a stringer copper zone in the porphyry cap rock that
covers the south part of the zone.
Hole CLS 97-13, which was drilled to test the north margin of the Cross
Lake IP trend, intersected anomalous gold values, the highest being 3.0
gm/t from 157.7 to 158.4 metres (0.7 metres).
Hole CLS 97-14 was drilled 450 metres west of CLS 97-6 to test a fault
shear structure and did not return significant values.
A 5,000 metre drill program, employing two diamond drills, is scheduled to
start in early November. |
