Calgary, Alberta - Tuesday, August 14, 2001, 12:00 PM EDT
"FLAG has received a report, dated August 7, 2001, from Dr. Eva
Schandl, M.Sc, Ph.D (GEO-CONSULT), Geological Consultant and
Research Associate (Dept. Geology, University of Toronto),
Evaluating Mineral Potential On FLAG's Mackelcan And Rathbun
Township Properties.
The following letter, enclosed with the report, is Eva Schandl's
comments on the report:
Dear Mr. McLeod:
I am enclosing 3 copies of my Report you requested, evaluating
mineralization potential on Flag Resources property, Mackelcan and
Rathbun Townships.
The report is based on the information you have provided me with
(drill logs from DDH CH92-1 (Mackelcan Twnp.), DDH ML 94-1 (Rathbun
Township) and various company reports by Mr. Goad and Dr.
Naldrett), as well as information I obtained by literature search
and from my own research in the area - particularly relevant are
the Scadding and MacLennan Townships.
I am quite certain that the high concentrations of base and
precious metals locally observed on Flag Resources' property
resulted from the interaction of hydrothermal fluids with
mineralized rocks at some depth. While the elusive massive sulfide
orebodies and mafic/ultramafic source rocks are presently unknown
in the area, careful re-evaluation of existing data - both
geological and geophysical - will help to find the "real McCoy".
Mapping of sulfide-rich (and fuchsite-rich) veins, their
orientation with respect to local and regional shear zones, faults
and stratigraphy would provide important information with respect
to the path and the ultimate source of mineralizing fluids. I would
also like to suggest "spot checks" on geochemistry and mineralogy
of rocks during drilling or sample collecting. A representative set
of samples should be always analyzed (for major and trace
elements), and the mineral assemblages should be identified by
petrography (microscope).
Best wishes, sincerely,
(signed) Eva S. Schandl Ph.D
Geological Consultant
A copy of Dr. Schandl's report is available upon written request.
The Canadian Venture Exchange has approved the issue of 400,000
FLAG shares, valued at 13 cents per share, to FLAG's president,
Murdo C. McLeod, for consulting fees of $52,000.00, accruing from
1995 to December 31, 2000.
For further information contact M.C. McLeod, President, Toll free
in North America 1-888-531-7798, e-mail info@flagresources.com" |
