Ah, one for the bottomfeeder take a look at the 11.3 grams Gold and 7.48% Cu for 5 feet in hole WL-97-7, got to love those surface holes. Watch the bouncing ball!
"Flag has completed 5 vertical drill holes in the Campsite Zone, continuing its exploration program on the Wolf Lake gold-copper zones.
Drill hole WL-97-7, drilled to a depth of 1000 feet, near drill hole WL83-28, intersected 44.5 feet of 4 grams (.118 ounces of gold per ton) and 2.12 percent copper per ton, from 142.8 to 187.3 feet. It also intersected 3 feet of 2.3 grams (.066 ounces of gold per ton) from 132.8 to 135.8 feet and 10 feet of 1.79% copper per ton, from 132.8 to 142.8 feet.
Best intersections, in the drill hole, were 5 feet of 11.3 grams (.328 ounces of gold per ton), from 172.8 to 177.8 feet and 5 feet of 7.48 percent copper per ton, from 167.8 to 172.8 feet.
Assay results from the other 4 holes, drilled in the Campsite Zone, will be available shortly.
The Campsite Zone, along with the Number 1 and Number 3 zones, are located in a 1000 foot long stretch, on the west shore of Wolf Lake. In each zone, drill holes have intersected substantial widths of good grade gold and copper, from surface to a depth of 500 feet. There is evidence that the 3 zones may be part of the same gold-copper bearing sulfide structure.
In its next phase of exploration, Flag proposes to drill 25 to 30 vertical drill holes in and between the zones, in order to complete a preliminary calculation of gold and copper reserves.
Flag says the above zones are part of a wide area of gold and gold-copper mineralization in the vicinity of Wolf Lake, which may require some 15,000 to 20,000 feet of exploratory drilling, to be fully evaluated. Gold and copper mineralization extends for a considerable distance into Wolf Lake. There is evidence of a sulfide zone, in the middle of a large hill, directly west of the Wolf Lake gold-copper zones. Bulk sampling has been recommended for Flag's gold deposit at Jess Lake, which adjoins Wolf Lake.
It has been recommended to Flag that a 3500 foot deep drill hole be drilled into Wolf Lake, to intersect the Gowganda formation, projected to underlie the Lorrain formation. It is suggested that the softer rock of the Gowganda formation may have opened up additional channelways for the deposition of gold and copper bearing sulfides.
After only 1500 feet of drilling, the drill was moved to its present location at Wolf Lake, from Flag's ground in McNish Township, 11 miles east of Wolf Lake, at the beginning of March, due to deteriorating ice conditions and prohibitive helicopter costs being incurred in transporting the drill.
It was not in the best interests of shareholders to continue to spend more money in the air than in the ground.
In April, Flag is completing an approved overland route to its holdings, in the northwest corner of McNish Township, resuming its exploration program on designated drill targets.
Flag says a number of things make the McNish Township ground a promising prospect for finding base metal deposits. Flag has discovered a mineralized igneous intrusion, a key requirement for discovering nickel-copper deposits in the Sudbury mining camp. There are numerous surface showings of nickel-copper and copper-zinc lead sulfide mineralization, including an occurrence of massive copper-zinc-lead sulfides. There is a shallow sedimentary rock cover and geophysical anomalies outlined by surveys completed by Flag. |
