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Gold/Mining/Energy : Platinum Group Metals (PGMs)

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To: Ptaskmaster who started this subject3/11/2002 2:39:23 PM
From: ali  Read Replies (1) of 529
 
Evidence Suggests That The Magmatic Hydrothermal System At Flag
Resources (1985) Limited's Cobalt Hill, Mackelcan Township, (Wanapitei
Anomaly), Is Comparable To The Late-Magmatic Hydrothermal System Of The
Sudbury Igneous Complex.

CALGARY, March 11 /CNW/ -
Cobalt Hill
Dr. Eva Shandl, Geological Consultant, Research Associate, Department of
Geology, University of Toronto, has reported to Flag Resources that:

1. Detailed fluid inclusion study demonstrated that salinity and
temperature of hydrothermal fluids, which crystallized the quartz
veins and pyrite at Cobalt Hill, were comparable to the late-magmatic
hydrothermal fluids of the Sudbury Igneous Complex. Just as in
Sudbury, fluid inclusions in quartz at Cobalt Hill contains halite
daughter minerals and the calculated salinity of fluid in the fluid
inclusions is 32 - 40 eg wt % NaCl.
2. Hypersaline brines that formed the halite crystals in fluid inclusions
in the Cobalt Hill quartz also mobilized Ni (nickel) rich sulfides and
gold from depth, including them in pyrite within the quartz veins. The
Ni-sulfide inclusions in pyrite are small, but ubiquitous, and
represent a wide variety of nickel-bearing sulfides; pentlandite,
bravoite, gersdorfitte as well as pyrrhotite, chalcopyrite,
coloradoite (Hg-telluride) and gold. All of the above Ni-sulfides and
gold are present in the Sudbury ores.

Thus, says Dr. Shandl, fluid inclusion, systematics and detailed
mineralogy at Cobalt Hill suggests there is overwhelming evidence in support
of a magmatic-hydrothermal system at some depth comparable to the
late-magmatic hydrothermal system of the Sudbury Igneous Complex.
On basis of the present fluid inclusion and earlier mineralogical study,
Dr. Schandl considers Cobalt Hill to have an excellent potential for Sudbury
type mineralization.
Cobalt Hills, is 2 miles south of the western magnetic peak of the
Wanapitei anomaly.

Exploratory Licence of Occupation
Flag's Exploratory Licence of Occupation (E.L.O.), an area of 780
hectares (1750 Acres), in Rathbun and Aylmer Township is located on the
northeast flank of the Sudbury Igneous Complex, 20 miles north of Sudbury.
In a report prepared for Flag, Dr. Peter Giblin, Consulting Geologist,
Sudbury, Ontario, noted that the E.L.O. covers two gold occurrences, known
from the 1890's as the Bennett and Aylmer occurrences. The Bennett occurrence
was little explored by modern techniques until drilled by Flag in 1998. The
nearby Aylmer occurrence has yet to be explored by modern techniques.
Recent prospecting has found three sulfide occurrences, a copper
occurrence, a pyrite breccia and a gold-bearing gossan zone in other
unexplored portions of the E.L.O. These occurrences have not received any
exploration.
Dr. Giblin concludes that the Aylmer occurrence, untested portions of the
Bennett occurrence and the interval between them merit further exploration,
and investigations of the copper occurrence, pyrite breccia and gossan zone
should be carried out, at an estimated cost of $114,800.

Rathbun Lake Occurrence
The Occurrence is a mined out surface lens of copper, nickel, gold,
silver, platinum and palladium bearing massive sulfides, located on the
southeast shore of Rathbun Lake, Rathbun Township.
In Ontario Geological Survey Report 213, 1982, Dr Burkhard Dressler,
after studying the Occurrence, suggested that it may have been part of a
bigger sulfide body, separating from it during the intrusion of gabbro into
the Gowganda sedimentary rocks or dislocated from it by faulting after the
intrusion.
To explore the suggested source of the Occurrence, Flag is asking its
Advisory Committee to consider drilling a deep exploratory drill hole between
100 to 200 feet due west of the shaft of the mined out Occurrence, as there
has been no exploratory drilling below 500 feet, up to 300 feet west of the
shaft.
A selected grab sample of the massive sulfides by Dr. Dressler, O.G.S.
Report 213, 1982, yielded.

10.2% copper, 0.14% nickel, 2.22 oz silver, 0.02 oz gold,
0.056 oz platinum and 34.6 oz palladium per ton

Wolf Lake-Gold Copper Deposit
Prior to preparing a report on estimated tonnage and grade on the Wolf
Lake Gold-Copper Deposits, Mackelcan Township, Flag is drilling additional
fill-in drill holes.
Wolf Lake 02-06, located 50 feet east of WL81-8, was drilled to a depth
of 500 feet, at 60 degrees east, with 105 feet of the drill core being assayed
for gold and copper. Depending on assay results, the drill hole may be
deepened to 1000 feet.
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