Guess who the "major mining corporation" is.
Attention Business Editors:
Flag Resources (1985) Limited and Golden Briar Mines Limited
update
CALGARY, May 25 /CNW/ - ''Confidentiality Agreement Signed With Major
Mining Corporation On Flag Resources Wanapitei Anomaly Holdings. Flag
Resources (1985) Limited And Golden Briar Mines Limited Drilling For Indicated
Mineralized Igneous Intrusive Body, Matagamasi Lake, Wanapitei Anomaly,
Sudbury, Ontario.
Flag Resources has signed a Confidentiality Agreement, with a major
mining corporation, pertaining to its large Wanapitei Anomaly holdings,
Sudbury, Ontario. Samples have been taken of the rock hosting the rich
platinum, palladium, nickel, copper, gold and silver surface lens of massive
sulfides, in gabbroic rock, at Rathbun Lake, Rathbun Township, Wanapitei
Anomaly, to ascertain whether the rock chemistry is similar to the host rocks
of the ore deposits of the adjoining Sudbury Anomaly. Assay results should be
available shortly.
Two miles east, at Matagamasi Lake, Flag and Golden Briar have discovered
widespread disseminated platinum, palladium, nickel and copper mineralization,
in Gowganda sediments, confirmed by three drill holes.
Analysis of the drill core indicates the mineralization did not originate
in the sediments, but migrated from an underlying mineralized igneous
intrusive body. It is the first evidence of a near surface igneous intrusion,
in the western sector of the Wanapitei Anomaly, which has been the target of
exploration in the 54 mile long anomaly, the twin adjoining magnetic and
gravity anomaly to the 36 mile long Sudbury Anomaly.
Flag and Golden Briar are drilling for the indicated igneous intrusive
body, by deepening the original vertical discovery hole, from 2500 feet to
below 3000 feet.
Golden Briar may earn a 50% interest, in this portion of Flag's Wanapitei
Anomaly holdings, and on claims in McNish Township, by spending $400,000.00
and $300,000.00, respectively, over a four year period. By the end of 1988,
$317,500.00 had been spent on the two options.''
The Alberta and Montreal Stock Exchanges have neither approved nor
disapproved the contents herein.
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For further information: M.C. McLeod, President, Flag Resources/Golden
Briar Mines Limited, Suite 1970-540-Fifth Avenue S.W., Calgary, Alberta,
Canada, T2P OM2, (403) 262-8883, Fax (403) 262-8886, e-mail
info@flagresources.com |
