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

To: wayne cath who wrote (3648)	2/5/2003 6:30:59 PM
From: wayne cath	Read Replies (1) \| Respond to of 3650

Cross Lake releases QR trenching results Cross Lake Minerals Ltd CRN Shares issued 37,768,493 Feb 5 close $0.13 Wed 5 Feb 2003 News Release Also (GGV) Mr. Brian Kynoch of Cross Lake reports TRENCHING RESULTS CONFIRM OPEN PIT POTENTIAL OF QR NORTHWEST ... Cross Lake Minerals has released trenching results from the undeveloped Northwest zone on the QR property, near Quesnel, B.C. The highly encouraging results from the trench completed in January, 2003, confirmed the open pit potential, significantly increased the width and extended previously defined higher-grade sections of the zone. The trench (QR-T-03-1) was completed on a north-south axis across the Northwest zone, which has been partially delineated by earlier diamond drilling. The trench exposed bedrock at an average overburden depth of 3.0 metres across a width of 88 metres before being terminated on the south end due to deepening overburden. The zone had been outlined by drilling over an area approximately 350 metres long and 60 metres wide. The 88 metres of bedrock were sampled with 44 2.0-metre rock chip channel samples. The results from the trench are: 1.63 grams per tonne gold over the entire 88 metres, including 4.77 g/t gold over 26.0 metres. Most importantly, it was discovered during the trenching program that the gold mineralization in the Northwest zone is entirely confined to silt stone, not to the propylitic basalt that is the main host of gold mineralization on the QR property. The identification of this silt stone host creates more exploration targets on the QR and adjoining Cariboo properties. The gold mineralization is found in bedding planes and crosscutting fractures in the silt stone along with pyrite and minor pyrrhotite. As part of the previously announced scoping study, metallurgical testing will be conducted on the silt stone mineralization to confirm that it is amenable to heap leaching. The company has the option to acquire a 100-per-cent interest in the QR property from Kinross Gold Corporation. Gold Giant Ventures Inc. is in the process of earning 50 per cent of the company's rights with the company acting as operator of the project. Both companies are planning more trenching in the Northwest zone and diamond drilling in the West zone within the next month. WARNING: The company relies upon litigation protection for "forward-looking" statements. (c) Copyright 2003 Canjex Publishing Ltd. stockwatch.com