FGR.A on the Canadian Venture Exchange
CALGARY, May 28 /CNW/ - Flag's consulting geologist and Flag's prospector
Reg Charron, examined the gabbro outcrop, adjoined on either side by a fault
and mineralized with disseminated pyrite, with specks of chalcopyrite,
recently discovered by Mr. Charron. It is 450 feet west of Flag's current
exploratory drill hole, the first drill hole to be drilled on a peninsula,
located in the north west sector of Matagamasi Lake, Rathbun Township, Wanapi
tei Anomaly, Sudbury, Ontario.
The disseminated sulfide-bearing gabbro outcrop, appears to be composed
of a fine grained, possibly sheared gabbro, in contact with a coarse grained,
possibly cumulus gabbro.
An initial shallow angle drill hole is being drilled to explore the
disseminated mineralization and contact between the indicated fine grained and
coarse grained gabbro. The drill hole should be completed by the end of this
week.
In further prospecting of the area, Flag's consulting geologist and
prospector, discovered a second gabbro outcrop, with disseminated pyrite,
400 feet west, approximately, of the first discovery, also to be drilled.
Subject to results, of these exploratory drill holes, being drilled in an
area not previously explored by Flag, and with no known previous exploratory
drill holes, Flag's top priority exploration targets, in its 70,000 acre
holdings in the Wanapitei Anomaly, Sudbury, Ontario, as set forth in Flag's
May 21, 2002 news release, are Cobalt Hill, in adjoining Mackelcan Township,
recommended exploration to locate the mafic/ultramafic source of chromium,
cobalt and nickel-copper sulfides, identified by previous studies, and
recommended exploration work for its Exploratory Licence of Occupation, on the
west side of Lake Wanapitei, including exploration of a copper occurrence, a
pyrite breccia and a gold-bearing gossan zone, found by prospecting in an
unexplored area of the E.L.O., plus development of the Wolf Lake gold-copper
and Jess Lake gold deposit, Mackelcan Township. |
