Ms.Andrews,
Flag will have their first assay(from the300-400 feet level) from the hole presently drilling by next week and this may draw more interest for this area play.The following is an exerpt for a NR from last week where the drilling takes place right now.:
Flag and Golden Briar identify palladium at Rathbun Lake
Flag Resources (1985) Ltd
FGR.A
Shares issued 14,067,287
1999-12-03 close $0.21
Monday Dec 6 1999
Also Golden Briar Mines Ltd (GLB)
Mr. M.C. McLeod reports The previously unidentified mineral, occurring as blebs
throughout 1986 drill hole,RL86-8, in the Rathbun Lake peninsula, Rathbun township,
Wanapitei anomaly,Sudbury, Ont., has been discovered by assaying to be palladium.
The 500-foot, 45-degree angle hole, in addition to the independent occurrences of
palladium, intersected 317 feet of disseminated nickel, copper, palladium, gold and
silver ineralization. It is the widest intersection of mineralization discovered in 60
exploratory drill holes drilled in the Rathbun Lake peninsula, from the 1950's onward.
A 1996 Ontario Geological Survey report, Study 58, on Nipissing gabbro, stated that
such disseminated mineralization accumulation, accumulates in the upper portion of the
Nipissing gabbro, with massive sulphides accumulating in the base of the gabbro.
Accordingly, Flag and Golden Briar are drilling an exploratory hole underneath RL86-8,
exploring the base of the gabbro rock for massive sulphides. RL86-8 is located 869 feet
south of the Rathbun Lake occurrence, a rich massive sulphide occurrence of nickel,
copper, platinum, palladium, gold and silver located at the base of the gabbroic rock at
its contact with sediments. It has been the
cause for all the exploratory drilling. The abundance of platinum and palladium in the
occurrence is some of the highest known to be associated with gabbroic rock (Ontario
Geological Survey of Canada 1993). A selected sample by the Ontario Geological
Survey, Report 213,
assayed 10.2 per cent copper, 0.14 per cent nickel, 0.056 of an ounce platinum,34.6
ounces palladium, 2.22 ounces silver and 0.02 of an ounce of gold per ton. The drill
hole being drilled to explore the base of the gabbro below RL86-8 is one of three areas
selected for drilling after a review of...
An exploratory drill hole is currently drilling
P.S.Please notice the #given for palladium! |
