Assay Results From Flag Resources (1985) Limited's Exploration Program On The Campsite Gold- Copper zone, Wolf lake, Mackelcan Township, Wanapitei Anomaly, Sudbury Ontario
CALGARY, Nov. 1 /CNW/ - The Campsite Gold-Copper zone was discovered by
drill hole WL83-28. It intersected 74.5 feet averaging .033oz/ton Au (gold)
(1.13 g/tonne Au) and 2.50% Cu (copper). Forty-eight feet, from 148 to 196
feet assayed .043oz/ton Au (1.5 g/tonne Au) and 3.60% Cu per ton.
Flag is currently exploring this 100% owned gold-copper zone. Seven holes
have been drilled to date this year, four of which have been logged and
assayed. The purpose of the exploration program is to confirm previously
drilled targets and to expand the size of the mineralized zone. Holes 01-1,
01-2, 01-3 and 01-4 were drilled near existing drill holes to confirm the
intersections and assays previously received.
Assay Results
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WL01-1
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Drilled to vertical depth of 208 feet, located 14 feet (4 meters)
northeast of WL83-28.
Mineralization
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It intersected 4.7 feet of 0.18oz ton/Au (6.19 g/tonne Au), from 196.8 to
201.5 feet, at the outer eastern edge of the gold-copper zone.
WL01-2
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Drilled to a vertical depth of 205 feet, located 7 feet (2 meters) west
of WL83-28.
Mineralized Zone
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70 feet- 123 to 193 feet.
Significant Assays
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123-129.5 feet-6.5 feet of 0.085 oz ton/Au (2.91g/tonne Au) and 0.46% Cu
134.6-178.2 feet-43.6 feet of 0.048oz ton/Au (1.64g/tonne Au) and
2.25% Cu
183.2-193 feet-9.8 feet of 0.061oz ton/Au (2.10 g/tonne Au) and 1.29% Cu
Best Assay
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163.2-168.2- 5 feet assaying 0.04oz/ton Au (1.40g tonne Au) and 8.77% Cu
WL01-03
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Drilled to a vertical depth of 200 feet, located 19 feet (6 meters) west
and 13 feet (4 meters) south of WL83-28, at the same location as WL90-3, which
intersected 73.5 feet of .519oz ton/Au (17.7 g/ton Au) (uncut) or
0.267oz/ton Au (9.1g/ tonne Au), when cut to 1oz.
Mineralized Zone
----------------
74.1 feet averaging 0.149oz/ ton Au (5.11g/ tonne Au) and 0.38% Cu, from
99.8 to 173.9 feet.
Best Assays
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15 feet averaging 0.296oz/ ton Au (10.15g/ tonne Au) and 0.54% Cu, from
124.8 to 139.8 feet.
WL01-04
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Drilled due north at 70 degrees to a depth of 200 feet, located 52 feet
(16 meters) south, 20 feet (6 meters) west of WL83-28. It is at the same
location as WL90-1, which had a 63 foot intersection averaging 0.236oz/tonne
Au (8.1g/tonne Au) from 101 to 164 feet.
Mineralized Zone
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82 feet averaging 0.248 oz/ton Au (8.50g/tonne Au), and 0.81% Cu, from
99.2 to 181.2 feet.
Best Average
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5 feet of 1.728oz/ton Au (59.25g/tonne Au) and 0.66% Cu, from 112.8 to
117.8 feet. (Au cut to 1 oz in averaging the 82 foot mineralized
intersection.)
WL01-5 and WL01-6
-----------------
WL01-5 and WL01-6 were drilled from the same location, 22 feet north
(6.5 meters) and 8 feet west (2.5 meters) of WL83-28. WL01-5 was drilled
vertically to a depth of 250 feet. WL01-06 was drilled at 80 degrees due west
to a depth of 255 feet. Both drill holes are being logged and assayed.
WL01-7
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Located 396 feet (120 meters) north and 323 feet (98.5 meters) east of
WL83.28. Drilled due west at 45 degrees to cut a surface showing with some
geological features similar to the Campsite Gold-Copper zone. It was drilled
to a depth of 375 feet, and is being logged and assayed.
As part of the current exploration program, Flag is deepening drill hole
WL90-20 located 40 feet north (12.2 meters) and 6.5 feet (2 meters) west of
WL83-28. WL90-20 was drilled vertically to a depth of 250 feet. It intersected
.104oz ton/Au (3.6 g/tonne Au) in the last 4 feet of the drill hole, from 246
to 250 feet. The consulting geologist of that time recommended deepening the
drill hole. Flag is deepening the drill hole to assess the extent and value of
the gold bearing mineralization.
This press release has been read and approved by Flag's advisory
committee of Peter Giblin, consulting geologist, Sudbury Ontario, Gerald
Gereghty, geophysical consultant, Sudbury, Ontario, and Edwin Bauer, project
mining engineer, Calgary, Alberta.
Murdo C. McLeod
President |
