Cross Lake Sheraton-Timmins EM results; Ladybug drilling to begin
Cross Lake Minerals Ltd CRN
Shares issued 32,782,665 Oct 7 close $0.22
Thu 7 Oct 99 News Release
Ms. Kristina Kalmet reports
Sheraton-Timmins property
Very encouraging results have been received from the surface deep pulse
electromagnetic survey conducted on the company's 100-per-cent-owned
Sheraton-Timmins property near Timmins, Ont. The survey, which was
completed over a one-kilometre-square area covering a strong broad induced
polarization anomaly on strike with and immediately northeast of the Cross
Lake zone, was successful in outlining several anomalies. Of particular
significance is the fact that one of the anomalies, which has the same
strike as the Cross Lake zone and is 500 metres in length, has a pulse EM
signature virtually identical to that of the known Cross Lake zone. This
will be a priority target in the next program of diamond drilling which is
currently being planned.
Ladybug property
As a followup to the work conducted during the summer, a 300-metre diamond
drill program is scheduled to commence tomorrow on the company's
100-per-cent-optioned zinc-silver-copper-lead Ladybug property 44
kilometres north of Salmon Arm, B.C.
The three-hole program is designed to test the original discovery, referred
to as the Blackjack showing, and two recently discovered IP and soil
geochemical anomalies, which appear to be even stronger and larger than the
Blackjack showing. This showing, from which the weighted average of rock
chip channel samples assayed 1.90 per cent zinc, 78.2 grams per tonne
silver, 0.19 per cent copper and 1.12 per cent lead over a width of nine
metres, consists of a calc-silicate skarn with sphalerite, galena,
chalcopyrite and magnetite mineralization.
The first of the two anomalies to be tested is 300 metres northwest of the
Blackjack showing and has a strike length of 600 metres, open to the
northwest. The second anomaly is 400 metres northeast of the Blackjack
showing and has a strike length of 350 metres, open to the northeast. Both
anomalies have strong IP, magnetometer and coincident zinc, silver, copper,
manganese soil anomalies. The program is expected to last two weeks.
(c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com
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