CALGARY, Nov. 6 /CNW/ - Flag is drilling a 2000 foot deep exploratory
drill hole at Cobalt Hill in Mackelcan Township, Wanapitei Anomaly, to
intersect a projected nickel, copper and gold mineralized mafic/ultramafic
intrusion suggested to be between 1200 and 2200 feet from the surface.
Prior to drilling, Flag waited for the results of a down-hole geophysical
probe into the deepest drill hole at Cobalt Hill, 2400 foot deep CH92-1, to
better pinpoint the location of the projected mineralized intrusion.
The report on the probe noted that the data showed Channel 1 Anomalies
and the possible presence of a magnetic high in the vicinity of CH92-1. To
check on the results from the down-hole probe, Flag is having an independent
geophysicist assess the results before releasing the details. This report is
expected shortly.
The projected mineralized mafic/ultramafic intrusion was a result of a 14
month fluid inclusion and mineralogical study by Dr. Eva Schandl, Geological
Consultant, Research Associate (Department of Geology, University of Toronto).
Dr. Schandl pointed out that the presence of fuchsite (chromium-rich
muscovite) in the same pyrite-rich quartz veins, implies that the source of
the nickel and copper is a mineralized mafic/ultramafic intrusion, between
1200 and 2200 feet, the depth of the fuchsite bearing quartz veins, which
increase from 1200 to 2200 feet, then abruptly disappear. The projected
mineralized source should be nearby, as chromium is quite inert and does not
move very far.
The mineralization at Cobalt Hill is part of a large system of
mineralization. Seven drill holes, located 700 feet north-west of Cobalt Hill,
intersected the same pyrite-rich quartz veins as Cobalt Hill. The deepest
drill-hole was drilled to a depth of 1100 feet, with none of the drill holes
reaching the depth of the projected mineralized intrusion.
The mineralization system appears to be open to the west, north and
south. It is the largest area of mineralization that Flag has found on it's
70,000 acre holding in the Wanapitei Anomaly. |
