to all flag friends:here is the latest release:
<Flag Resources (1985) Limited announces drilling to proceed on
Rathbun Township, Wanapitei Gabbro Intrusion, platinum-palladium
prospect, Sudbury, Ontario, delayed due to severe weather
conditions
CALGARY, Jan. 19 /CNW/ - ''Flag has reported that there is geochemical
evidence indicating the existence of a 3000 foot long mineralized zone on
Flag's Wanapitei Gabbro Intrusion ground, located one mile south of the small
rich massive sulfide surface occurrence, known as the Rathbun Lake Occurrence,
Rathbun Township. The abundance of platinum and palladium, in the Occurrence,
are some of the highest known to be associated with mafic rocks. (Ontario
Geological Survey and Geological Survey of Canada report, 1993). A selected
grab sample, by the O.G.S. (Report 213, 1982) yielded 34.6 ounces of
palladium, 0.056 ounces of platinum, 2.22 ounces of silver, 0.02 ounces of
gold per ton and 10.2% copper, 0.14% nickel per ton.
A 1996 O.G.S. Study 58, by A.J. Naldrett and P.C. Lightfoot, on petrology
and geochemistry of Nipissing Gabbro, in Ontario, states there is well
documented association of mineralization with hypersthene-rich, high magnesium
rock, with lower abundance of titanium and zirconium in Nipissing Gabbro. The
study says the typical exploration target to look for, in geochemical
sampling, include 9% or better magnesium oxide and 0.41 percent or less
titanium.
One mile south of the Rathbun Lake Occurrence, in the Wanapitei Gabbro
Intrusion, 44 geochemical samples, over a length of 3000 feet, assayed from 9%
to over 12% magnesium oxide and from 0.20 to 0.48% titanium. Most of the
higher nickel and copper values, front the geochemical sampling, are in the
3000 foot long zone, evidence supporting the association of mineralization
with high magnesium oxide and low titanium values in Nipissing Gabbro.
There has been no previous exploratory drilling in the area of the
indicated 3000 foot long mineralized zone.
Associated Golden Briar Mines Limited can earn a 50% interest, by
spending $400,000.00 over a four year period, on this portion of Flag's
Wanapitei Gabbro Intrusion holdings.''>
The drilling commenced again today.
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