Time to start up this site again. Drilling will start in a few weeks again.
The voulm is starting to increas in stock, with pricses also climbing.
GOLDEN BRIAR MINES LIMITED PREPARING TO DEEPEN
MATAGAMASI LAKE DRILL HOLE, RATHBUN TOWNSHIP,
WANAPITEI ANOMALY, SUDBURY, ONTARIO, CANADA
CALGARY, March 24 /CNW/ - Golden Briar Mines Limited is preparing to
deepen a drill hole at Matagamasi Lake, Rathbun Township, from 2500 to 4000
feet.
The drill hole intersected large zones of disseminated nickel and copper
mineralization, including an intersection from 419 to 1530 feet, with
occasional sphalerite and galena being present.
Recent research work, in the area, concluded that the mineralization may
have been derived, by leaching of an underlying igneous intrusion.
Golden Briar says the same extensive mineralizaion was found in a deep
drill hole, two miles to the southwest, at Rathbun Lake, suggesting
mineralization in the two drill holes could be associated with the same
projected underlying igneous intrusion, cre ating the potential for the
discovery of a significant base metal deposit.
Golden Briar can earn a 50 percent interest in the ground, optioned from
Flag Resources (1985) Limited (A.S.E.), by the expenditure of $400,000.00.
There has been no further developments on the 9500 acre claim block in
the Rouyn-Noranda mining camp, held under a joint venture agreement with Inmet
Mining Corp. Golden Briar has a 10 percent net carried interest, which
increases to 49 percent, upon re covery of designated costs from any
commercial production.
Golden Briar continues to hold in excess of 1,300,000 shares of Flag
Resources (1985) Limited.
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For further information: Mr. McLeod, President, (403) 262-8883 or fax (403) 262-8886
Good investing to all. |
