Any thoughts on the latest NR from Flag... ??
Flag Resources (1985) Ltd FGR.A
Shares issued 14,067,287 1999-10-18 close $0.34
Tuesday Oct 19 1999
Also Golden Briar Mines Ltd (GLB)
Mr. M.C. McLeod reports
Flag Resources and Golden Briar are proceeding to drill one mile west of the newly discovered layered mafic igneous intrusive at Boland Lake and 869 feet south of the Rathbun Lake massive sulphide occurrence, Rathbun township.
In 1986, drill hole R.L. 86-8, drilled at 45 degrees, to a depth of 537 feet, intersected 154 feet of disseminated nickel, copper, platinum, palladium, gold and silver mineralization, including 118 feet between 209 and 317 feet. Twenty-two assays all returned significant anomalous values, from 107 to 375 parts per million in copper and anomalous values in nickel, palladium, and gold. It has the same ratio of higher copper values to nickel as the Rathbun Lake occurrence. It is the largest intersection of disseminated sulphides, in gabbro rock, discovered in the Wanapitei anomaly, and may be associated with the newly discovered layered igneous intrusive.
In 1996, study 58, Ontario Geological Survey, reported that the rich Rathbun Lake massive sulphide occurrence of nickel, copper, platinum, palladium, gold and silver, was a basal concentration, sulphides settling at the base of the gabbro sill, through gravitational force.
The disseminated sulphides, intersected in the upper portion of the gabbro sill, in R.L. 86-8, 869 feet south of the Rathbun Lake occurrence, are the largest known quantity of disseminated sulphides, in gabbro, in the Wanapitei anomaly. The base of the gabbro, below the disseminated sulphides, is being tested for a similar basal concentration of massive sulphides, as the nearby Rathbun Lake occurrence.
Flag and Golden Briar expect to receive, shortly, a report from the Ontario Geological Survey on an analysis of the thin sections from the layered mafic igneous intrusive discovered at Boland Lake, Rathbun township, to ascertain what similarities there may be to the layered igneous intrusive, the Sudbury igneous complex, in the adjoining twin magnetic and gravity anomaly to the Wanapitei anomaly, the Sudbury anomaly, and the geological structure in which the Sudbury nickel, copper, platinum group, gold and silver ore deposits are located.
Golden Briar may earn a 50-per-cent interest, from Flag, in this portion of its Rathbun township holdings, by spending $400,000.
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