Robert is this of any interest to us.I am not sure of the closeness of the property NOTE THE DATE
The Prospector Daily Mining News
Adrian Leonard, Editor
News for December 22, 1995:
Firesteel Acquires Gold Island Property, NWT
Firesteel Resources Inc (FTR:ASE) has entered into an agreement to acquire a 100% interest in a group of 9 claims
comprising over 21,000 acres at Mosher Lake in the Yellowknife District of the Northwest Territories, Canada. The
property is northwest of Yellowknife and north of all the weather road linking Yellowknife and Edmonton. The
purchase price is to be paid through the issuance of 200,000 common shares, and C$12,000 in cash to Kalvik Mining
Services.
The claims cover a 20 km long volcanic belt and Russell Lake areas. Most of the belt is staked by various companies,
and current exploration is focusing on Lupin-type gold in iron formation, Izoc Lake-type massive sulphides,
Yellowknife-type lode gold deposits and Colomac-type disseminated gold.
Previous drilling in 1947 at the Gold Island Zone outlined a gold bearing silicified shear zone. The Main Zone is up to
70 ft thick, averaging 59 ft, was traced by x-ray size drilling for over 800 ft, and is open. Visible gold was logged in 14
of the 27 holes which cut the zone. A three hole drill program in 1974 revealed visible gold in all holes and indicated
significant thickness of mineralization. The associated geophysical anomalies, completed after all the drilling was
complete, extend for at least 1600 ft. |
