Cross Lake provides property activities
Cross Lake Minerals Ltd CRN
Shares issued 37,768,493 Nov 13 close $0.13
Wed 13 Nov 2002 News Release
Mr. Brian Kynoch reports
CROSS LAKE MINERALS LTD.: UPDATE ON ACTIVITIES; QR DRILLING C ...
Cross Lake Minerals has provided an update on its activities.
QR gold property, Cariboo mining division, British Columbia
Cross Minerals has disclosed that a program of 1,900 metres of NQ diamond
drilling has commenced on the QR property. The program is being financed by
Gold Giant Ventures Inc. under the terms of an agreement dated July 15,
2002, whereby Gold Giant may earn a 50-per-cent interest in the QR and
Cariboo properties. The company is the operator of the project and has been
compiling and reviewing all available data pertaining to both the defined
gold zones and numerous exploration targets. This geological and
engineering review has enabled the company and Gold Giant to identify
several targets for surface exploration and/or diamond drilling. Surface
geological mapping has been completed over the primary exploration targets.
The initial phase of the drilling program will be completed before the end
of this year. It will focus on defining and expanding known gold
mineralization associated with the partially developed West zone and the
undeveloped Northwest and North zones. The program on the known gold zones
will consist of trenching and diamond drilling. Several exploration
targets, mostly along the contact of the QR intrusive, where the known
zones of gold mineralization occur, will also be evaluated. Exploration
targets have been identified using data from extensive geological,
geochemical and geophysical surveys.
The QR mine, under 100-per-cent option to the company from Kinross Gold
Corporation, was operated by Kinross from 1995 to 1998, when it was shut
down and put on care and maintenance. The property includes an
800-tonne-per-day mill. An evaluation of this facility and compilation of
an updated resource figures are also being undertaken. Upon completion of
these programs, the company and Gold Giant will determine future
exploration and development programs on the property.
LJ property, Revelstoke mining division, British Columbia
A program of prospecting, geological mapping and rock sampling was
completed on the LJ property in September, 2002. The program was successful
with the discovery of over 50 base-metal-bearing pyrite boulders below a
remnant ice lobe at the headwaters of McKinnon Creek. The massive sulphide
boulders consist of brecciated pyrite separated by a random
three-dimensional net of galena and sphalerite. Six boulders, ranging in
size from 30 centimetres to 60 centimetres in diameter, were sampled over a
200-metre area. The analytical results from these six samples are tabulated
below:
Sample No. Zinc Lead Silver
(%) (%) (ppm)
203415 15.21 10.36 15.3
203416 18.00 13.11 8.7
203417 13.95 20.33 15.9
203418 14.67 11.12 9.5
203419 1.17 11.12 5.1
203420 18.00 7.70 5.2
Due to the elevation of the property and the onset of winter, no further
work is planned for this year. Future exploration programs are being
planned for 2003 and will include additional geological mapping,
prospecting, rock sampling and geophysical surveys. The program was
completed by consulting geologist Ted Muraro, PEng, and Cross Lake's
vice-president of exploration, Jim Miller-Tait, PGeo.
Ingenika/Swannell properties, Omineca mining division, British Columbia
A four-hole exploration NQ diamond drilling program, totalling 491.2
metres, was completed on the adjoining Ingenika and Swannell properties in
September, 2002. The Swannell property is held under option from Teck
Cominco Limited. Three holes, two on the Swannell property and one on the
Ingenika property, were drilled to test a large base-metal soil anomaly but
failed to intersect significant base-metal values. The source of the
anomaly is now believed to be the abundance of base-metal fragments
observed in the compact glacial till during a test-trenching program that
was completed in July, 2002. Bedrock was not encountered during the
trenching. One additional hole was drilled on the south side of the
Swannell River to test for the extension of the Swannell base-metal showing
that had only been encountered on the north side of the river. The hole
intersected 1.9 per cent zinc, 0.37 per cent lead and 4.6 grams per tonne
silver over 2.1 metres at a downhole depth of 64.4 metres to 66.5 metres.
Recommended future work on these two properties includes a study to
determine glacial ice direction in order to locate the source area of the
base-metal soil anomaly. No work is planned for the remainder of this year.
Sheraton-Timmins and Night Hawk Lake properties, Timmins, Ont.
Falconbridge Limited has reported on the work currently under way on the
two properties that its holds under option, the Sheraton-Timmins, in which
the company holds a 100-per-cent interest, and the Night Hawk Lake
property, in which a 40-per-cent interest is held. Falconbridge has
completed a detailed geological compilation, line cutting, and ground HLEM
and magnetic surveys, and is planning to carry out diamond drilling during
November, 2002. One hole is planned to be drilled on the Sheraton-Timmins
property and two holes on the Night Hawk Lake property. Further details
will be released as they are provided by Falconbridge.
With the exception of those properties optioned to Falconbridge, all work
is being conducted under the supervision of Mr. Miller-Tait. Analytical
work is being conducted by Acme Analytical Laboratories Ltd. of Vancouver,
B.C., using ICC-MS and ICP-ES analysis with fire assay for gold samples.
WARNING: The company relies upon litigation protection for
"forward-looking" statements.
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