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Gold/Mining/Energy : Cross Lake Minerals CRN -- Ignore unavailable to you. Want to Upgrade?

To: Flea who wrote (3626)	1/16/2001 8:45:38 PM
From: wayne cath	Read Replies (1) \| Respond to of 3650

Cross Lake Minerals releases drilling results Cross Lake Minerals Ltd CRN Shares issued 32,782,665 Jan 15 close $0.09 Tue 16 Jan 2001 News Release Ms. Kristina Jackson reports Cross Lake Minerals has released results from drill hole CLS 00-76, completed on the 100 per cent held Sheraton-Timmins property in Ontario. The hole was drilled to a depth of 739-metres to test the area 200-metres below and downplunge to the east of the Cross Lake zone zinc-copper-lead-silver mineralization. The hole intersected the expected hanging wall sequence of crystal tuff, felsic tuff, feldspar porphyry dykes and 13 metres of the projected mineralized horizon of sericitic and carbonate altered felsic volcanics with disseminated and semi-massive pyrite, some of which was anomalous in copper. The 13 metre Cross Lake zone felsic volcanic unit was cut off by a fault and the hole entered unaltered crystal tuff which was drilled for 107.3-metres to the final depth of 739-metres. In Hole CLS 99-69, located 200-metres above CLS 00-76, a 15-metre interval of unaltered crystal tuff was intersected in the Cross Lake zone of altered felsic volcanics. This indicates that a thick, wedge-shaped, block of crystal tuff has been thrust upwards into the altered felsic volcanics splitting the favourable host rock. This wedge appears to be thickening with depth. The hole was stopped in the crystal tuff in order to complete a borehole pulse EM survey. As no significant conductors were observed, the drilling was halted. Although no significant mineralization was intersected, this hole did confirm that the mineralized horizon is plunging to the west. The Cross Lake zone is still open to the west at depth and future work would be designed to test this area. The drilling program was supervised by the company's vice-president, exploration, Jim Miller-Tait, P.Geo. All the samples were analyzed at the laboratory of ALS Chemex in North Vancouver, B.C., utilizing the 32 element ICP analytical package. The Mobile Metal Ion ("MMI") soil sampling program carried out in November and December, 2000, was successful in delineating the known Cross Lake zone base metal mineralization. This method was also used to test seven airborne EM conductors outside of the Cross Lake zone that were outlined by the OGS operation treasure hunt geophysical survey. The results have yielded three coincident high priority anomalies on which further work is recommended. The MMI soil sampling exploration program is expected to continue on these three, as well as other areas of interest on the property when weather conditions permit in order to determine the extent of the anomalous soil and confirm strike direction for drill planning. In British Columbia, the company has recently staked three claims, totalling 32 units, located 35-km north of Revelstoke. The LJ property covers the Locojo prospect, a base metal discovery which was found below a receding glacier by government geologists during a regional mapping program in 1996 and remains untested by any detailed exploration work. The company intends to carry out an exploration program during the 2001 field season. (c) Copyright 2001 Canjex Publishing Ltd. stockwatch.com