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Gold/Mining/Energy : Any Good Penny Resources Left? -- Ignore unavailable to you. Want to Upgrade?

To: CLK who wrote (584)	1/5/1998 12:06:00 PM
From: Scripts	Read Replies (2) \| Respond to of 753

Flag Resources starts drilling of Gold and Nickel sites. The defining moment has finally come for Flag Resources as they are drilling their gold and nickel showings starting this week. Flag (Fgr.a) trades on Alberta at about 55 cents. Canada NewsWire Give us your message. We'll give you the world. Attention Business Editors: FLAG RESOURCES (1985) LIMITED AND GOLDEN BRIAR MINES LIMITED ANNOUNCE DRILLING ON SUDBURY, ONTARIO, PROPERTIES CALGARY, Jan. 5 /CNW/ - Flag Resources expects to commence drilling on January 7th, the visible gold occurrences and associated silver mineralization, on the ground deleted from the Wanapitei Provincial Park, on which Flag has been granted an Exploratory Licence of Occupation. Flag first applied for a Licence in 1984, when the ground was still in the Wanapitei Provincial Park. Flag is drilling a series of drill holes into the visible gold occurrences and associated silver, along 1100 feet of the main 2000 foot long quartz vein, at 150 to 200 foot intervals, to a depth of 150 feet. Flag also proposes to drill two other similar quartz vein systems, on the ground. Surface trenching of the visible gold and associated silver, suggests there may be a widening of the mineralization at depth. There is no indication, or evidence, of any previous drilling. The ground was deleted from the Wanapitei Provincial Park, by the Ontario government, on July 4, 1997, to allow its significant mineral potential to be explored by the private sector. Flag's Exploratory Licence of Occupation application was approved, by Order-In-Council, on December 5th, 1997. Due east of the E.L.O. ground, Flag holds 72,000 contiguous acres, in 6 townships in the Wanapitei Anomaly, the regional twin gravity and magnetic anomaly, to the Sudbury Anomaly, the world's largest producer of nickel and associated minerals. Flag has optioned two mineral prospects, in its Wanapitei Anomaly holdings, to associated Golden Briar Mines Limited. In Rathbun Township, Flag has optioned a nickel-copper prospect to Golden Briar, who may earn a 50% interest by completing exploration expenditures of $400,000.00, over a four year period. Recent research work has suggested that widespread disseminated nickel-copper mineralization in two drill holes, two miles apart, may have originated from an underlying igneous intrusion. In McNish and MacBeth Townships, six miles east of Rathbun Township, Flag has optioned to Golden Briar Mines, a multi-base and precious mineral prospect, on which there is 24 surface showings of mineralization. Golden Briar may earn a 50% interest by completing exploration expenditures of $300,000.00 over a four year period. Golden Briar expects to commence drilling on the optioned properties, on January 15, 1998. The Alberta Stock Exchange has neither approved nor disapproved the contents herein. %SEDAR: 00004369E