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Gold/Mining/Energy : SUDBURY AREA AND THE PGM PLAY -- Ignore unavailable to you. Want to Upgrade?

To: Just G who wrote (228)	4/30/2000 10:14:00 AM
From: Natedog	Read Replies (1) \| Respond to of 349

Flag/Golden Briar Rathbun Lake drilling results Flag Resources (1985) Ltd FGR.A Shares issued 14,067,287 Apr 25 close $0.73 Thu 27 Apr 2000 News Release Mr. M.C. McLeod reports A drill hole into a large nickel copper rock geochemical anomaly, located in the Rathbun Lake Peninsula, Rathbun township, Wanapitei anomaly, Sudbury, Ont., has intersected 105 feet of disseminated chalcopyrite and pyrrhotite mineralization, hosted by an unusual coarse grained gabbroic rock. Consulting geologist P.A.R. Brown says the drill hole, drilled into a newly discovered surface outcrop of mineralized gabbroic rock, traced for 1,000 feet along strike to date, is located in a nickel-copper rock geochemical anomaly over 3,000 feet in length and up to 300 feetwide. The anomaly was outlined by the Ontario Geological Survey in the 1980s. The vertical exploratory drill hole has intersected up to 3 per cent chalcopyrite and pyrrhotite disseminated mineralization, from surface to 105 feet. It is currently drilling below 400 feet. The mineralized drill core is being assayed for nickel, copper, platinum, palladium, gold and silver. Drilling will continue to determine the thickness and attitude of the new mineral discovery. Mr. Brown notes that, at the northernmost part of the nickel-copper rock geochemical anomaly, a sample taken in 1998 assayed 0.58 per cent copper, 0.27 per cent nickel, 0.25 of a gram gold, 0.34 of a gram platinum and 2.2 grams palladium. Mr. Brown recommends than an induced polarization survey should be completed to try and confirm a link between the new discovery and a similarly trending airborne conductor located approximately 1,000 feet to the east. Flag owns a 100-per-cent interest in 98 per cent of Rathbun township, being part of its 70,000-acre holdings in the Wanapitei anomaly, the adjoining magnetic and gravity regional anomaly to the Sudbury anomaly, and its nickel-copper-platinum-palladium ore deposits. The new mineral discovery is in that portion of Rathbun township, in which Flag has granted associated Golden Briar the right to earn a 50-per-cent interest. Flag owns a 100-per-cent interest in the Wolf Lake and Jess Lake gold-copper deposits in adjoining Mackelcan township, its first discoveries in the Sudbury mining camp. (c) Copyright 2000 Canjex Publishing Ltd. canada-stockwatch.com