Simon..
Just so everyone can see what you are referring to here's the clip:
Flag Resources (1985) Ltd
FGR.A
Shares issued 13,772,287
1999-06-21 close $0.3
Monday Jun 21 1999
Also Golden Briar Mines Ltd (GLB)
Mr. M.C. McLeod reports
The Matagamsi Lake drill hole, Rathbun Township, Wanapitei anomaly, Sudbury, Ont.,
is being deepened to reach an indicated source of platinum, palladium, nickel and
copper mineralization, and is currently drilling below 2,530 feet.
The Matagamasi Lake vertical drill hole, being deepened from 2,500 to below 3,000
feet, encountered a temporary delay by mechanical difficulties. The drill hole
intersected over 1,500 feet of disseminated platinum, palladium, nickel and copper
mineralization, in altered Gowgunda sediments, between 419 and 2,500 feet. Analysis
of the drill core has indicated the source of the disseminated mineralization is an
underlying igneous intrusive structure. Disseminated mineralization is still present at
current depth of 2,530 feet.
If drilling intersects the indicated underlying source of the platinum, palladium, nickel
and copper mineralization, it would he the first discovery of these minerals within a
mineable distance from the surface in the Wanapitei anomaly. The lightly explored
54-mile long Wanapitei anomaly is the adjoining twin magnetic and gravity anomaly to
the 36-mile long Sudbury anomaly which has held the world's largest reserve of nickel,
copper, platinum and palladium-bearing ore. Two miles west of Matagamsi Lake, at
Rathbun Lake, a rich small-surface lens of platinum, palladium, nickel, copper, gold
and silver minerals, has been assayed by Inco Limited, to ascertain whether the
chemistry of the rock hosting the massive sulphide mineralization is similar to the
chemistry of the rock formations hosting the ore deposits of the adjoining Sudbury
anomaly. Results of the assays have not been received. The amounts of platinum and
palladium, in the Rathbun Lake occurrence, are some of the highest known to be
associated with mafic rock.
Under the terms of a confidentiality agreement, signed between INCO and Flag
Resources, Inco may examine and assess Flag's large holdings in the Wanapitei
anomaly.
Flag Resources, holding nearly all the eastern half of the two township-wide Rathbun
Township, has optioned the Rathbun and Matagamsi Lake portions to Golden Briar
Mines (MSE) which may earn a 50-per-cent interest, by spending $400,000 over a
four-year period.
Perhaps someone else may see some correlation between the two plays but I don't - Other than they are also finding {some ?}Palladium
Any body else want to comment ? PFN Has NEAR SURFACE FINDINGS
These guys seem happy to find the stuff at 3000 meters ???? |
