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

To: Just G who wrote (1080)	4/22/1999 6:40:00 PM
From: John E.Quinn	Read Replies (2) \| Respond to of 4269

Flag Resources (1985) Ltd - Flag Resources and Golden Briar update drilling program at Matagamasi Lake Flag Resources (1985) Ltd FGR.AShares issued 13,030,1651999-04-21 close $0.26Thursday Apr 22 1999Also Golden Briar Mines Ltd (GLB) Flag Resources (1985) Ltd. and Golden Briar Mines Ltd. have disclosed that their 60 degree angle hole into Matagamasi Lake, Rathbun township, Sudbury, to reach the source of the 1,506 feet of disseminated platinum, palladium, nickel and copper mineralization, discovered in Gowganda sediments, to a vertical depth of 2,335 feet, on the west short of the lake, has extended the disseminated mineralization for 350 feet due east into the lake, and is still in the mineralized zone at current drilling depth of 740 feet. Flag and Golden Briar may continue the drill hole to a depth of 2,000 feet. They say that the extension of the disseminated platinum, palladium, nickel and copper mineralization, is strong physical evidence that the source of this large mineralized zone, transported into the Gowganda sediments, is an igneous intrusion underlying Matgamasi Lake, as previusly projected by them. They also suggest it would have to be a mineralized igneous intrusion of considerable magnitude to create such a large zone of disseminated mineralization, which is still continuing to the east in the lake. Golden Briar may earn a 50 per cent interest, in the discovery, from associated Flag Resources, by spending $400,000 over a four year period.