Assay results from hole 17 at Cross Lake Minerals’ (CRN-V) Sheraton-Timmins property, east of Timmins, Ont., are confirming the westward extension of the zinc-lead-silver-copper mineralization seen in hole 16.
Assays show that hole 17 intersected 12.5 metres (from 248 to 260.5 metres) grading 1.77% copper, 0.41% zinc and 18.15 grams silver per tonne, including 4 metres (from 251 to 255 metres) of 3.24% copper, 0.05% zinc and 35.47 grams silver.
Overlapping the intersection were 66 metres (from 258 to 324 metres) grading 0.19% copper, 1.12% zinc and 15.86 grams silver, including 4.5 metres (from 275 to 279.5 metres) of 0.03% copper, 2.51% zinc and 87.31 grams silver and 6.5 metres (from 304.5 to 311.0 metres) of 0.12% copper, 4.18% zinc and 11.52 grams silver.
Hole 17, collared 66 metres southwest of hole 16 (T.N.M., Oct. 20/97), was drilled parallel (but in the opposite direction) to hole 16 — that is, in a northwesterly direction at a 65 dip.
Cross Lake says an induced-polarization anomaly indicates that the mineralized zone may extend along strike for more than 600 metres.
The company recently closed a private placement of 1 million shares priced at $4.15 each. The buyer was Golden Knight Resources) (GKR-T).
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