CALGARY, Oct. 15 /CNW/ - Between 1981 and 1983, Flag made four gold
discoveries in Mackelcan Township. Two of the gold discoveries were developed
into the Jess lake and Wolf Lake gold deposits. There was limited exploration
on the two other gold discoveries, at depth in drill hole A83-20, east of Jess
Lake and in drill hole A81-1, at Cobalt Hill, 600 feet east of Jess Lake.
Flag is currently drilling a hole parallel to A81-1, to confirm the gold
values reported in 1981, of 14 feet of .13oz. gold per ton, from 83 to 97
feet, 9.8 feet of .18oz. gold per ton, from 111.5 to 121 feet and 15 feet of
.32oz. gold per ton, from 125.9 to 140.9 feet. Minor gold values, in reported
assays, included 14 feet of .03oz gold per ton from 8 feet to 22 feet and 13
feet of .05oz. gold per ton, from 41 to 54 feet.
Upon the current drill hole confirming these gold assays, Flag proposes
step-out drilling to the north of A81-1.
Assays in A83-20, a vertical hole, located east of Jess Lake, included 59
feet of .022oz. gold per ton, from 728 to 787 feet, 10 feet of .09oz. gold per
ton, from 836 to 846 feet and 19.5 feet of .147oz. gold per ton, from 865 to
884.5 feet, with 10.5 feet assaying .22oz. gold per ton.
Flag proposes to deepen A83-19, a vertical drill hole, located 190 feet
southwest of A83-20, from its present depth of 677 feet to a depth of 2000
feet, to explore for an extension of the gold values intersected in A83-20 and
to explore for a suggested underlying nickel - copper deposit. |
