One more what the heck, I'm excited! The report is going to be Huugge!!!!!!!!
"Flag Resources (1985) Limited Has Applied, To The Ontario Ministry of Northern Development and Mines, For An Exploratory Licence of Occupation, To Explore Widespread Undrilled Visible and Free Gold Occurrences On 700 Hectares (1700) acres), Deleted From the Wanapitei Provincial Park, Sudbury, Ontario, Canada, In July 1997. The Ministry Has Prepared A Draft of Exploratory Licence Of Occupation, Which Will Be Available, From September 24th to October 8th, 1997, In Sudbury, For Public Review And Comments.
There was no published information on the visible gold occurrences except in a Report of The Royal Commission on Mineral Resources of Ontario, 1890:
"A northeast trending quartz vein, which is 4 feet wide...has been traced for 2000 feet. Arsenopyrite along the hanging wall assayed 42 (forty-two) ounces of gold per ton; the vein itself assayed 1.9 ounces of gold per ton".
In 1982, Flag located the son of the prospector, who worked on the gold occurrences from the 1920's to the 1940's, when he was killed on the property. The son gave Flag private unpublished reports, written in the 1920's and 1930's, which Flag gave, in confidence to the Ministry of Northern Development and Mines, Sudbury, Ontario.
The reports detailed visible gold in trenches and pits along a continuous 2000 foot long quartz vein. A 19 foot deep shaft was sunk on visible gold in the western sector of the quartz vein, designated the number 1 vein. Four hundred feet, to the east, on the other side of an intervening swamp, four successive grab samples, in 1938, along 300 feet of this number 1 vein, including cross faults, assayed .23, .41, .91 and 4.66 ounces of gold per ton, respectively.
Seven hundred feet north of the number 1 vein, a 3 foot wide quartz vein, designated the number 2 vein, assayed .32 ounces of gold per ton.
All the assays are from surface trenches and pits, with no known testing of the gold-bearing structure deeper than the 19 foot deep shaft.
The visible gold occurrences, and associated copper and silver mineralization, are in quartz veins in Huronian sedimentary rock in contact with igneous diabase rock, within a large shear zone.
The Ministry of Northern Development and Mines notes that the abundance of visible gold creates a "nugget effect". Assays, in 1938, ranged from nil gold to 5 ounces of gold per ton. In 1952, a hand selected grab sample assayed 21.58 ounces of gold per ton (assayed by an Ontario government laboratory).
Flag’s president, Murdo C. McLeod, points out that, prior to the 1960's, gold in sedimentary rock formations was not regarded as a very viable exploration target and the presence of arsenopyrite made recovery of the gold costly, no longer a problem under present technology. He also notes that there is no indication that drilling has ever taken place, although recommended in the private reports.
In 1984, Flag applied for an Exploratory Licence of Occupation, to explore the visible gold occurrences, the ground on which they were located having become part of the Wanapitei Provincial Park. It was about to be issued in 1988, when exploration in provincial parks was frozen.
Due to the significant mineral potential of the ground, the Ontario government believed the ground merited exploration and development by the private sector. The Ministry of Northern Development and Mines and the Ministry of Natural Resources were requested to deregulate the ground from the Wanapitei Provincial Park. The ground was officially deregulated in July, of this year, and the Park extended to the northeast, including land surrendered by Flag. Flag applied for a Exploratory Licence of Occupation, 13 years after its first application.
Peter Giblin, consulting geologist, Sudbury, Ontario, has recommended an initial $250,000.00 work program, including upgrading the access road, to explore and develop the visible gold occurrences. The work program is being submitted to a steering committee, appointed to address any environmental concerns. The steering committee includes representatives of the Ministry of Northern Development and Mines, of Natural Resources, of Environment and Energy, of the Sudbury and District Health Unit and the Wahnapitae First Nation.
Wanapitei Anomaly
Due east of the Exploratory Licence of Occupation ground, Flag holds 70,000 acres, in six adjoining townships, in the Wanapitei Anomaly, the adjoining twin regional gravity and magnetic anomaly to the Sudbury Anomaly, which has been the world’s largest producer of nickel. There has been approximately 5 million dollars in exploration expenditures on Flag’s extensive holdings.
It is proposed to resume exploration on three of the significant prospects in Flag’s Wanapitei Anomaly holdings.
1. Wolf Lake Gold-Copper Deposits and Jess Lake Gold Deposit-Mackelcan Township
a. Mackelcan Township
Proposed exploration includes close spaced drilling to test for continuity between the Number 1, Campsite and Number 3 Gold-Copper Zones, along a 1000 foot strike length, at Wolf Lake, Mackelcan Township
b. Jess Lake
Proposed exploration, at the Jess Lake Gold Deposit, one mile south of Wolf Lake, includes fill-in and step-out development drilling.
2. Base Metal Prospect, McNish-MacBeth Townships
Subject to regulatory approval, Flag is optioning its base metal prospect in McNish and adjoining MacBeth Township, to associated Golden Briar Mines Limited (M.S.E.), who would earn a 50% interest by completing $300,000.00 in exploration expenditures over a 4 year period.
The prospect has 24 surface showings of nickel-copper and zinc-lead-silver-copper mineralization. There is an occurrence of high grade zinc-lead-silver and copper bearing massive sulfides.
Results from previous exploration work include the outlining of a large gravity anomaly.
A $275,000.00 exploration program has been recommended.
3. Nickel-Copper Prospect, Rathbun Township
Flag has optioned the prospect to Golden Briar, who may earn a 50% interest by expending $400,000.00 over a four year period.
Two drill holes, by Flag, in northern Rathbun Township, two miles apart, each drilled to 2500 feet, intersected large segments of disseminated nickel-copper mineralization. The authors of recent research, in the area, have suggested the mineralization migrated from an underlying igneous intrusion.
It is proposed to deepen the drill hole, at Matagamasi Lake to 4000 feet and complete a down hole geophysical survey.
As at August 1st, 1997, Golden Briar held over 1,400,000 Flag Resources shares. It is Flag’s largest shareholder." |
