To all flag followers:
NEWS RELEASE TRANSMITTED BY CANADIAN CORPORATE NEWS
FOR: FLAG RESOURCES (1985) LIMITED
ASE SYMBOL: FGR.A
APRIL 6, 1999
Flag Resources (1985) Limited and Golden Briar Mines
Limited Are Commencing Drilling
CALGARY, ALBERTA--
FLAG RESOURCES (1985) LIMITED AND GOLDEN BRIAR MINES LIMITED ARE
COMMENCING DRILLING TO REACH THE SOURCE OF 1506 FEET OF
DISSEMINATED PLATINUM, PALLADIUM, NICKEL AND COPPER MINERALIZATION
INTERSECTED IN A MATAGAMASI LAKE DRILL HOLE, RATHBUN TOWNSHIP,
SUDBURY, ONTARIO.
"The 2500 foot deep vertical Matagamasi Lake drill hole, into
Gowganda sedimentary rock, intersected the 1506 feet of
disseminated mineralization from 416 to 1530 feet, 1778 to 1857
feet, 1877 to 1991 feet and 2136 to 2335 feet. The drill hole has
the unusual occurrence of small rectangular fragments of massive
sulfides.
It is suggested that the igneous intrusion source of the
mineralization would have to be of considerable magnitude, and in
close proximity, to transport 1506 feet of disseminated
mineralization into the Gowganda sedimentary rock.
After reviewing the results of a recently completed down hole
pulse E.M. survey, in the drill hole, an initial 1000 foot
exploratory drill hole is to be drilled due east into Matagamsi
Lake.
Golden Briar may earn a 50 percent interest, in the project, by
spending $400,000.00 over a four year period.
Flag Resources has deferred development drilling of its Wolf Lake
gold/copper deposit in adjoining Mackelcan Township, further
exploratory drilling on the visible surface gold occurrences on
its Exploratory License of Occupation, west of Wanapitei Lake, and
further exploration of base metal showings in McNish Township, to
concentrate exploration on the platinum, palladium, copper,
nickel, gold and silver occurrences in the large Wanapitei Gabbro
Intrusion in Rathbun Township, including the rich massive sulfide
occurrence at Rathbun Lake, two miles west of Matagamasi Lake.
Flag's flow-through share offering terminates May 2, |
