NEWS RELEASE TRANSMITTED BY CANADIAN CORPORATE NEWS
FOR: CROSS LAKE MINERALS LTD.
12(g) No. 82-2636
VSE SYMBOL: CRN
SEPTEMBER 23, 1998
Cross Lake Minerals: Sheraton-Timmins Property - Update
on Activities
VANCOUVER, BRITISH COLUMBIA--Cross Lake Minerals Ltd. (the
"Company") is pleased to provide the following update on
exploration activity on the 100 percent held Sheraton-Timmins
Property, located near Timmins, Ontario. Results of an extensive
program of geophysics and geochemistry are being used to plan
drill holes on at least four different areas of the Cross Lake
trend where significant correlation between Pulse EM (PEM),
Mise-a-la-Masse, Induced Polarization (IP) and soil geochemical
anomalies occurs.
The geophysical surveys are being conducted in order to provide a
more comprehensive understanding of the geologic structures and to
assist in a detailed evaluation of drill targets. In the Cross
Lake Zone, strong PEM anomalies in Holes CLS 97-28, CLS 98-39, CLS
98-53 and CLS 98-59 suggest that a steep plunging sulphide zone
occurs at depth below the area where previous copper intersections
were made in CLS 97-29, CLS 97-31, and CLS 97-32. (See map
entitled "Exploration Target Areas and Drill Hole Locations",
available by fax upon request.)
One of the strongest drill hole PEM anomalies to date occurs in
Hole CLS 98-58, 1.6 km southwest of Hole CLS 97-31. It appears to
reflect a chalcopyrite (copper)-pyrite zone below Hole CLS 98-58
and plunges steeply to the west from the copper mineralization
intersected near surface in Holes CLS 98-55 and CLS 98-60. Strong
Mise-a-la-Masse and coincident PEM anomalies occur on the surface
over the up plunge of this copper bearing zone. This particular
vent system would appear to be larger than initially thought.
Soil geochemistry shows anomalous copper and zinc extending 1,000
metres and correlating with the PEM and IP anomalies.
IP surveys have also extended the IP trend to over 3.0 km from the
original Cross Lake discovery. Strong zones of chargeability
coincident with earlier PEM conductors and Mise-a-la-Masse
anomalies suggest the presence of more than one massive sulphide
body in this area. A cluster of massive sulphide lenses could
indicate a favorable environment for a discovery of economic
significance.
Geochemical sampling has also yielded anomalies that overlie a
number of other IP chargeability and PEM conductors. This
suggests the presence of copper and zinc mineralization in both
these areas that are 1.5 and 3.0 km southwest of the Cross Lake
discovery as well as other parallel structures. Geochemical soil
sampling northeast of the Cross Lake discovery has yielded several
zinc-lead anomalies, indicating the continuation of the zinc rich
mineralization.
Reconnaissance exploration has also been conducted on other parts
of this extensive 18 km long 100 percent owned property.
Reconnaissance IP surveys are extending coverage south and
southwest in Sheraton Township and a number of new anomaly areas
have been located. The success of the geochemical work has
prompted the expansion of the soil sampling grid to screen these
new anomalies. Further to the south, the Company has also
conducted an airborne geophysical survey over the mining claims in
Timmins Township and is planning to follow up with geological
mapping.
Aside from the Sheraton-Timmins Property on which the Company is
concentrating most of its financial and technical resources, the
Company has 26 other properties aggregating approximately 70,000
hectares located in Ontario, Quebec and British Columbia. The
Company is seeking joint venture participation on the following
properties:
/T/
Name Location Number of Size Mineralization
Claim Units (ha)
Sherring 79km NE of
Timmins, ON 171 2736 Zinc
Mortimer 75km NE of
Timmins, ON 96 1536 Zinc/Lead
Fox, Fox-Stimson and Fox-Stimson
Perimeter 76km NE of
Timmins, ON 261 4176 Zinc/Lead
Pakwash 29km SE of
Red Lake, ON 458 7328 Gold/Copper/Zinc
Lay 210km NNE of
Smithers, BC 14 350 Precious/Base Metal
Tenakihi 205km NNE of
Smithers, BC 14 350 Precious/Base Metal
Lovell 105km NNE of
Smithers, BC 44 1100 Porphyry Copper-Gold
/T/
Interested parties are asked to contact the Company for further
details.
ON BEHALF OF THE BOARD OF DIRECTORS
CROSS LAKE MINERALS LTD.
Henry G. Ewanchuk, Chairman, President and C.E.O.
-30-
FOR FURTHER INFORMATION PLEASE CONTACT:
Cross Lake Minerals Ltd.
Erik Andersen
Vice President, Land
(604) 688-5448
or
Cross Lake Minerals Ltd.
Kristina Kalmet
Corporate Secretary
(604) 688-5448
crosslakeminerals.com
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