CALGARY, Dec. 30 /CNW/ - Flag has found that the ground VLF conductors,
reported at Jess and Jones Lakes, in a December 16 press release, appear to be
either closely related or part of the same conductor.
In a report dated December 28, 2002, Raymond Lashbrook reported that the
follow - up VLF survey was started 25 meters (75 feet) south of the Jess Lake
Gold Deposit and run south for 725 meters (2378 feet) into Jones Lake. VLF
conductors were picked up on all lines of the survey.
The conductor axis goes south from Jess Lake and appears to extend below
the hill between Jess and Jones Lakes and then going into Jones Lake. On the
Jones Lake side of the large hill there are weakly mineralized boulders at the
base of the hill.
Although the magnetometer survey indicates that the area in general is
quite flat in magnetic intensity, Mr. Lashbrook observes that for the area
covered, the magnetic intensity increases the further north one goes.
Cobalt Hill
As previously reported that the VLF conductor, 65 meters (213 feet) west
of Cobalt Hill, has a coinciding weak magnetic anomaly. In the latest survey a
conductor located on a line 75 meters (237) feet north and 50 meter (164 feet)
west, may be a continuation of the Cobalt Hill conductor, giving it a
northwesterly strike.
At Cobalt Hill, there are nickel - bearing sulfides and chalcopyrite in
pyrite - rich quartz veins. There is 28.5 feet of .12 oz gold from 337 to
365.5 feet in Drill Hole A83-1, including 8.5 feet of .32 oz gold.
The report concludes "The geophysical surveys conducted to date on the
Jess Lake and Jones Lake areas have located good conductors that are probably
the southwest extension of the Jess Lake Zone and possibly the Wolf Lake Zone -
1200 meters (3936 feet) north . - - - - This survey now extends that area by
another 725 meters (2378 feet) and is open to the south. A drill hole near the
east shore of Jess Lake, and drilled to the west, intersected up to 30% pyrite
and anomalous gold values (Murdo McLeod, personal communication). This gives
the conductors credence. The strongest portion of the conductor is located in
Jones Lake. There is an excellent possibility that the conductors are caused
by the same alteration / sulfide mineralization encountered in the Jess Lake
Deposit."
Flag plans to drill the conductors in January and also proposes to
further explore the Jess Lake Gold Deposit which extends to a depth of 900
feet, in altered Lorraine quartzite, to a depth of 2000 feet. |
