Cross Lake cuts high-grade zinc at Ruddock Creek (September 27, 2004)

Vancouver-based junior Cross Lake Minerals (CRN-T) has drilled some impressive zinc grades from the first four holes of an 11-hole, 1,840-metre diamond-drilling campaign at the Ruddock Creek property, situated 100 km north of Revelstoke, B.C.

The four holes were drilled to further define and extend the property’s E zone, the most advanced of nine areas of mineralization identified to date at Ruddock Creek.

Highlights from the multiple intercepts in these holes include: 15.5 metres (from 86 metres) of 10.03% zinc and 2.17% lead in hole 101; 46 metres (from 80 metres) of 10.32% zinc and 2.25% lead in hole 102, including 17.4 metres of 16.28% zinc; and 22.3 metres (from 62 metres) of 7.43% zinc and 1.68% lead.

Drill hole 104 is true width while drill holes 101, 102, and 103 are approximately 78% of true width.

The mineralization is described as “Broken-Hill type” zinc-lead-silver sedimentary exhalative consisting of sphalerite, pyrrhotite, galena, pyrite and chalcopyrite hosted within siliceous calc-silicate and quartzite.

Cross Lake describes the E zone, which has been partially delineated along a length of 200 metres by 34 previous drill holes, as being within a westerly plunging fold.

Drill holes 101 and 103 intersected the limbs of the fold and drill holes 102 and 104 cut the central keel or hinge of the fold, where the mineralization is said to be thicker due to remobilization and deposition during metamorphism.

The E zone is at the eastern end of the fold where massive-sulphide mineralization was originally discovered in outcrop.

So far, the fold and the associated zone of sulphide mineralization have been traced down-plunge for a length of over 3,000 metres, where it remains open.

Falconbridge (FL-T) explored the Ruddock Creek property from 1960 to 1975, when a joint venture was formed with then-Cominco to continue exploration.

Exploration programs to date include 9,317 metres of diamond drilling, aeromagnetic surveys, structural studies and limited surface and borehole geophysical surveys.

Based on 5,781 metres of diamond drilling by Falconbridge and 3,162 metres by Cominco, the companies tallied an inferred resource of 1.5 million tonnes grading 8.4% zinc and 1.6% lead in the E zone and a further 1.2 million tonnes in the E zone fault.

Cross Lake can acquire up to a 70% interest in the 1,850-hectare property from Doublestar Resources (DSR-V). Cross Lake must spend up to $3 million over 4 years and, in addition to the 150,000 shares already issued, issue 250,000 shares within 60 days following the end of the 2004, 2005 and 2006 exploration years, for an aggregate issuance of 750,000 shares, to earn a 60% interest. It can boost its interest to 70% by spending another $1.75 million within two years.

Cross Lake also has the three zinc-lead-silver exploration properties nearby: LJ, Kneb and Ghost.