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Gold/Mining/Energy : Flag Resources (FGR.A A) -- Ignore unavailable to you. Want to Upgrade?

To: RJ2 who wrote (3877)	12/3/2002 10:05:49 AM
From: ali	Read Replies (2) \| Respond to of 4269

Flag Resources (1985) Limited Reports Two Airborne Conductors In Vicinity Of The Jess Lake Gold Deposit and Cobalt Hill Mineralization, Mackelcan Township, Sudbury, Ontario FGR.A on the Canadian Venture Exchange CALGARY, Dec. 3 /CNW/ - The airborne conductors were discovered by a recent review of geophysical records by Flag. The conductors occur on the west sides of Jones and Jess Lakes and on the west side of Silvester Lake, trending in a north - south direction. Jess Lake, Jones Lake, Cobalt Hill and Silvester Lake are in a one kilometer (3280 feet) wide zone of altered Lorrain quartzite, extending east - west, and undelineated to the north and south (Ontario Geological Survey, Open File Report 5771, 1991). The airborne conductors are of particular significance, because of extensive occurrences of sulfides in the area. There has been no drilling on the ground covered by the airborne conductors. Flag recently reported continuity of gold values, to a depth of 900 feet, in the Jess Lake gold deposit, stating it proposed a drill hole to explore the deposit to a depth of 2000 feet. The drill hole would also explore for the source of the nickel - bearing sulfides and chalcopyrite inclusions in pyrite - rich quartz veins, crystallized from hydrothermal saline fluids, at nearby Cobalt Hill. With the recognition of airborne conductors in an alteration zone with extensive sulfide occurrences, Flag is deterring drilling of a deep hole to first run ground geophysical surveys in the area. Flag will do ground VLF and magnetic surveys to confirm the locations and extent of the conductors and to further evaluate them with a view to possible drilling. P.S. If you are interested in getting a detail map of this place , inbox me your email address and I send it to you. Sorry I'm not smart enough to post it here :-(