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Gold/Mining/Energy : Flag Resources (FGR.A A)
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To: Patricia L. Toope who started this subject1/29/2003 12:06:08 PM
From: Scripts  Read Replies (1) of 4269
 
Flag Resources (1985) Limited Winter Exploration Program, Mackelcan Township, Wanapitei Anomaly, Sudbury, Ontario

CALGARY, Jan. 29 /CNW/ - Flag will commence its previously announced
winter exploration program in early February '03, in the area of the Jess Lake
gold deposit.
Flag's first drill hole will be at Cobalt Hill 600 feet east of Jess
Lake. The purpose of this drill hole will be to investigate the potential of
northward extension of the gold - bearing horizons previously discovered in
drill hole A81-1.
A81-1 discovered three significant gold - bearing horizons:

1. 14 feet (4.3 meters) of 0.13oz (4.5 grams) of gold per ton from 83 to
97 feet (25.3 to 29.6 meters)

2. 9.8 feet (3 meters) of 0.185oz (6.3 grams) of gold per ton from 111
to 120.8 feet (34 to 37 meters)

3. 15 feet (4.6 meters) of 0.32oz (11 grams) of gold per ton from 125.4
to 140.4 feet (43 to 47.2 meters)

The new drill hole is being drilled 50 feet (16 meters) north of A81-1.
There has been no previous drilling to explore for the northward extension of
A81-1's gold - bearing horizons.

-30-

For further information: Murdo C. McLeod, President, toll free in North
America, 1-888-531-7798 or by E-mail at info@flagresources.com
FLAG RESOURCES (1985) LIMITED has 36 releases in this database.
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