Here is the NR
Flag Resources (1985) Limited Reports Drilling has Extended the Recently Discovered Pyrrhotite, Chalcopyrite, Magnetite Mineralized Layered Gabbro Structure, Located at Boland's Lake, Rathbun Township, Wanapitei Anomaly, Sudbury Ontario, 275 Feet to the South.
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CALGARY, Aug. 8 /CNW/ - The large, mineralized gabbro was discovered in
vertical drill hole BL99-1, to a depth of 984 feet, intersecting in quartz
(silica) rich gabbro, visible pyrrhotite, chalcopyrite and magnetite blebs for
136 feet, from 154 to 290 feet and for 235 feet, from 630 to 865 feet.
A second hole, BL99-3 was drilled 1000 feet west of BL99-1 and
intersected the mineralized layered gabbro to a depth of 1104 feet.
Presently, BL02-02 is drilling into the mineralized gabbro at 70 degrees
south from BL99-1, to present depth of 805 feet, translating into a horizontal
distance of 275 feet from BL99-1 and vertical depth of 750 feet.
The three drill holes have extended the mineralized gabbro structure
1000 feet to the west and 275 feet south (to current depth). The gabbro
structure is open to the north, south, and west.
It is the first quartz-rich mineralized gabbro structure that has been
found on Flag's 70,000 acre holdings and, apparently, the first quartz-rich
mineralized gabbro to be discovered in the 54 mile long Wanapitei Anomaly.
The first 805 feet of BL02-02 is currently being logged and relevant
mineralized sections will be assayed. Assay results should be received by
August 15th, 2002. Thin sections are also being prepared from selected samples
of drill core to obtain a microscopic (mineralogical study) analysis of the
gabbro rock to identify mineral assemblages (such as magnetite-rich zones with
associated cumulus apatite) that would help to distinguish between a Sudbury
type and Nipissing type gabbro.
At Cobalt Hill, in adjoining Mackelcan Township, in a report by S.N.C.
Lavalin, on behalf of Flag, exploration expenditures of $374,800 have been
recommended to test the concept that the source of the localized Ni-Cu-PGE
mineralization, found at Cobalt Hill, is a relatively shallow (650 - 1000
metres, approximately 2100 - 3300 feet deep) Sudbury type mineralized
mafic/ultramafic intrusion.
A mineralogical and fluid study, by Dr. Eva Schandl, Geological
Consultant, Research Associate, (Dept. of Geology, University of Toronto)
resulted in the discovery of Ni-Cu sulfide inclusions in massive pyrite
(gersdorffite, bravoite, pentlandite - all nickel bearing, together with
pyrrhotite and chalcopyrite) along with mercury tellurides and gold within
quartz veins that crystallized from super saline fluids at Cobalt Hill.
Recent prospecting at Flag's Exploratory License of Occupation, located
on the northern edge of Lake Wanapitei, northeast of Flag's 70,000 acres in
the Wanapitei Anomaly, has found a copper occurrence, a pyrite breccia and a
gold bearing gossan zone, on which recommendations for exploration have been
made, by consulting geologist, Peter Giblin.
Flag is proceeding to explore and develop these promising prospects,
deferring in the interim, further development of the Wolf Lake gold-copper
deposit, and Jess Lake gold deposit, held in mining leases in northern
Mackelcan Township. |
