Flag/Golden Briar provide progress on drilling
Flag Resources (1985) Ltd FGR.A
Shares issued 16,224,180 Oct 17 close $0.25
Wed 18 Oct 2000 News Release
Also Golden Briar Mines Ltd (GLB)
Mr. Murdo McLeod reports
DRILLING PROGRAM
Flag Resources
Mackelcan township
Cobalt Hill
In 1992 Flag drilled a 2,900-foot vertical drill hole on Cobalt Hill,
located between Jess and Jones Lake, CH 92-1, northern Mackelcan township,
Wanapitei anomaly. It was the only drill hole, in over 100 drilled in the
area (Wolf Lake gold-copper deposit, Jess Lake deposit) that intersected
anomalous nickel, copper, platinum, palladium, gold, cobalt and chromium
values, in the first 1,500 feet of core, in a large pyritic albitized
breccia and microbreccia zone in Huronian sediments (Lorrain quartzite)
overlaying the Wanapitei anomaly.
Assaying from a 10-pound sample of muck, from a small surface shaft, on
Cobalt Hill, returned cobalt up to 0.145 per cent and nickel, up to 0.09
per cent, by F.C. Charlton (1979). Similar anomalous metal concentrations
of nickel, cobalt and gold were found on samples collected by Goad and
Rowell (1985).
Flag proposes to complete a downhole pulse electromagnetic survey on CH
92-1, to search for the source of the base and precious metals.
Jess Lake
A drill hole , by Flag, currently drilling, 175 feet west of Jess Lake, has
reached a depth of 535 feet. The drill hole intersected, from the surface,
85 feet of disseminated pyrite. The drill core is being logged before
continuing drilling.
Rathbun township
South Boundary
Flag has submitted its appeal to the Mining and Lands Commissioner,
Toronto, Ont., in regard to the dispute over part of claim 809104, on which
Flag has discovered a significant new zone of nickel, copper, platinum,
palladium and gold mineralization, in a surface occurrence of sulphides
which it staked in 1984. A representative grab sample, from the new
discovery assayed 1.28 per cent nickel and copper (0.425 per cent Ni and
0.864 per cent Cu) and 0.126 ounce or 4.35 grams of platinum group elements
(PGE) (0.49 gram gold, 0.44 gram platinum and 3.43 grams palladium).
Flag Resources and Golden Briar Mines Limited
Rathbun township
Rathbun Lake occurrence
Flag and Golden Briar are proposing, this winter, to complete a 2,000-foot
vertical drill hole, in a 150-foot-wide strong magnetic structure, in
altered Huronian Gowganda sediments, 150 feet due west of the Rathbun Lake
occurrence.
A selected grab sample, of massive sulphides, taken by the Ontario
Geological Survey, 1982, from the dump, of a mined out shallow shaft, on
the east shore of Rathbun Lake, assayed 10.2 per cent copper, 0.14 per cent
nickel, 2.22 ounce silver, 0.02 ounce gold, 0.056 ounce platinum and 34.6
ounces palladium.
Matagamasi Lake
In 1994, Flag drilled an exploratory vertical drill hole, on the west shore
of Matagamasi Lake, ML 94-1. The drill hole intersected disseminated
nickel, copper, platinum and palladium, over substantial widths, from 419
to 2,300 feet, including 1,111 feet from 419 to 1,530 feet. The
mineralization had migrated into the Gowganda sediments from an external
source.
Flag looked for an igneous source, in the area extending to a similar depth
of 2,500 to 2,600 feet. There appears to be a possible source for the
mineralization on the east side of Matagamasi Lake. It is gabbroic rock
intersected by four regional faults, with six surface occurrences of
granite, signifying the existence of a number of channel ways in the
gabbroic rock structure.
Flag and Golden Briar propose to complete a 1,500-foot-deep exploratory
hole, into the altered gabbroic rock structure.
Rathbun Lake Peninsula
Drill hole RL 00-53, drilled at 70 degrees north, from RL 00-15, located
2,600 feet south of Rathbun Lake, in the Rathbun Lake Peninsula,
intersected continued platinum and palladium enrichment 50 feet to the
north of RL 00-15. The drill hole intersected from 135 to 150 feet, 15 feet
of 0.72 gram of PGE, including five feet, from 145 to 150 feet of 1.01
grams of PGE, (0.71 gram gold, 0.15 gram platinum and 0.15 gram palladium).
Flag and Golden Briar propose to complete a geochem soil sampling survey
for chalcopyrite concentrations before further development drilling.
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