Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Scripts who wrote (602)	1/15/1998 3:56:00 PM
From: Scripts	Read Replies (1) \| Respond to of 753

Flag has the drilling underway and more adjacent land under discusion. assay results still to come and expected next week. From: portfolio@newswire.ca 11:36 Subject: FLAG RESOURCES (1985) LIMITED AND GOLDEN BRIAR MINES LIMITED UPDATE To: "Portfolio Email User" <portfolio@newswire.ca> Attention Business Editors: FLAG RESOURCES (1985) LIMITED AND GOLDEN BRIAR MINES LIMITED UPDATE CALGARY, Jan. 15 /CNW/ - Flag Resources (1985) Limited ASE Trading Symbol: FGR.A Golden Briar Mines Limited Trading Symbol: GLB FLAG RESOURCES (1985) LIMITED HAS COMMENCED DRILLING THE QUARTZ VEIN SYSTEMS, WITH VISIBLE GOLD OCCURRENCES ON ITS EXPLORATORY LICENCE OF OCCUPATION GROUND, SUDBURY, ONTARIO, CANADA ''Flag's Exploratory Licence of Occupation is located northeast of the Sudbury Anomaly, better known as the ''Sudbury Basin,'' on ground deleted from the Wanapitei Provincial Park. The first two shallow drill holes, drilled at a 45-degree angle, near a 19 foot deep shaft on the main 2000 foot long gold-bearing quartz vein system, intersected quartz veining at vertical depths of 170 and 70 feet respectively. The quartz intersections are now being assayed. The third drill hole, on the other side of the small shaft, drilled at 45 degrees, was in a fault zone to completion depth of 200 feet. A fourth drill hole, at 45 degrees, is drilling into quartz veining 1100 feet to the southeast. After completion of a series of shallow drill holes, into the quartz vein systems, Flag proposes to test the large gold-bearing structures at a vertical depth of 450 to 500 feet. Flag Resources and associated Golden Briar Mines Limited have held preliminary discussions with the Wahnapitae First Nation, in regard to a joint venture exploration project on their 4 square mile land reserve. Adjoining Flag's Exploratory Licence of Occupation, to the southwest, the unexplored ground is close to the northeast sector of the Sudbury Basin, Canada's greatest producer of mineral wealth. There is a showing of nickel-copper-platinum-gold and silver, 1200 feet from the boundary of the land reserve. The Whistle Offset Dike, on which the Whistle Mine is located, projects towards the land reserve. Flag and Golden Briar's president says it is probably the only large block of ground that close to the Sudbury Basin that has not been explored. Detailed ground geophysical surveys are commencing on three areas of copper-gold, nickel-copper and zinc-copper-lead and silver mineralization on the group of claims in McNish and MacBeth Townships, optioned by Flag to Golden Briar Mines Limited. Flag has also optioned a nickel-copper prospect, in Rathbun Township, to Golden Briar Mines, who can earn a 50% interest in the two claim blocks by completing expenditures of $400,000.00 and $300,000.00, respectively, over a period of 4 years. The two claim blocks are located within the 72,000 acre contiguous acreage held by Flag in the Wanapitei Anomaly, the twin regional magnetic and gravity anomaly to the Sudbury Anomaly.'' The Alberta Stock Exchange has neither approved nor disapproved the contents herein. %SEDAR: 00004369E -0- 01/15/98 For further information: Flag Resources (1985) Limited (403) 262-8883 Fax: (403) 262-8886 or www.flagresources.com -----------------------------------------------------------------------