Firesteel Resources Inc. (ASE) Message Board

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Gold/Mining/Energy : Firesteel Resources Inc. (ASE)

FTR 0.0590

0.0%

Jun 1 5:00 PM EST

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To: Dave R. Webb who wrote (39)	3/27/1997 4:02:00 PM
From: Ian McCartney	of 97

Hi Dave, We have not yet extended our gold exploration programs north towards the MGR-GMD property area. The winter 1996 geophysical program stopped about 500m south of the Firesteel property boundary, and strong conductors and magnetic anomalies in volcanics, which may indicate sulfide bearing structures, are open to the north. The next step would be a summer geological follow-up right up to the north border of the FTR property, and I anticipate this will be done in 1997 based on favourable drill results at Gold Island. We have strong anomalies on the volcanic belt contacts and within the volcanics. The northern volcanic belt area has not been explored since the 1940's at which time Huhill Yellowknife geologists reported panning gold from crushed alteration zone rocks (unfortunately the location was not recorded). The Mosher Lake volcanic belt is mapped as extending a few km north of the FTR property into a large batholith, after which it breaks up (is assimilated?) by the igneous rock unit. There is a good possibility for "reworked" gold deposits in the igneous rocks and in volcanic remnants to the north of the FTR border. In support of this model, recently there have been indications of gold in the batholiths a few km to the west of the Yellowknife Greenstone Belt, and these targets have attracted serious exploration attention from the local producing companies. We will be considering the diamond potential of the FTR property seriously after the current gold oriented drill program is finished and reported on, and I look forward to discussing this with you. Please phone DGD if you have any suggestions for kimberlite oriented co-operative programs for this winter field season. Ian

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