Nov. 6 - CRN.VSE - Night Hawk drilling results; drilling to resume
Night Hawk drilling results; drilling to resume
Cross Lake Minerals Ltd CRN
Shares issued 27988580
1997-11-05 close $3.2
Thursday Nov 6 1997
See Canadian Golden Dragon Resources Ltd (CGG) News Release
Mr Kenneth Crosby reports
Canadian Golden Dragon has been informed by Golden Knight Resources that assays have been received from four holes on the Sheraton Lake zone SKG97-12 to 15, as well as one new hole (SK97-16) on the Cross Lake zone and three hole extensions SK97-10A, CLS97-7E and CLS97-8E. All holes intersected base metal and silver values of geological importance.
Holes SKG97-12 through 97-15 tested the Sheraton Lake zone along 600m of strike. The best values were obtained in SKG97-12 which intersected three narrow copper zones that assayed 1.4% Cu over 0.5m, 2.27% Cu over 1.2m and 2.45% Cu over 1.0m. SKG97-13 intersected 0.48 g/t Au and 17.2 g/t Ag and 0.36% Cu over 1.0m, as well as 0.35 g/t Au and 9.8 g/t Ag and 0.48% Cu over 1.0m. SKG97-14 intersected 0.50% Zn over 6.95m. Since drilling commenced on the Sheraton Lake zone, copper and zinc mineralization has been identified in every hole of widely-spaced drilling over a strike length of 1.1km. The Sheraton Lake zone is open along strike and at depth. The copper values appear to be flanking a zone of high silica rhyolite in a setting similar to the Kamiskotia deposits and Kidd Creek mine. Chlorite alteration has also been noted in hole SKG97-13, associated with copper mineralization.
Hole SK97-16 on the Cross Lake zone tested the updip extension of the Gold zone encountered in hole SK97-10 which intersected 4.0 g/t Au over 14m and 1.51% Zn over 5m. Hole 97-16 intersected 0.97 g/t and 169.0 g/t Ag over 1.3m, and 2.12% Zn over 1.5m. Two zones of copper mineralization of 8.8m averaging .31% Cu and 18.7m averaging .6% Cu with values ranging up to 1.7% Cu also occur.
Hole CLS97-7 which extends into the Night Hawk Lake joint venture property, intersected gold values up to 1 gram within an 11m wide (300-311m) section containing anomalous gold values associated with anomalous molybdenum. This intersection is interpreted to be the westward extension of the gold zone in hole SK97-10, 200m to the northeast of hole CLS97-7. Wide zones of anomalous zinc values occur in both holes CLS97-7 and 97-8.
In other developments, the Night Hawk Lake joint venture has approved a $465,000 program consisting of geophysics and up to 2,500m of diamond drilling on the Cross Lake and Sheraton Lake zones. The program will commence in early November and will be completed before Christmas. The joint venture consists of Golden Knight (60%), Cross Lake Minerals (16%), East West Resource (16%) and Canadian Golden Dragon (8%). Golden Knight is the operator. |
