More mineralization for Cross Lake at Sheraton

Drilling by Cross Lake Minerals (CRN-V) at the Sheraton Twp. property, 40 km east of Timmins, Ont., has intersected more base metal mineralization along an exhalative horizon south of the Destor-Porcupine fault zone.

Cross Lake has been testing the zone since early 1997, following up on geochemical and induced-polarization surveys that indicated anomalies in volcanic rocks east of Night Hawk Lake.

The best result from the last three holes was a 40.5-metre interval starting at 393.5 metres down hole 63. The intersection graded 1.9% zinc and 0.43% lead, with 36 grams silver and 0.2 gram gold per tonne. This includes 9 metres of 4.34% zinc, 0.75% lead, 81 grams silver and 0.7 gram gold.

At 408.5 metres, a 4.5-metre intersection showed grades of 1.63% zinc, 0.33% lead and 23 grams silver, and starting at 423.5 metres, a 10.5-metre stretch graded 1.58% zinc, 0.21% lead and 19 grams silver. Hole 64, collared 325 metres southwest of hole 63, yielded two mineralized intersections. One of these was 4.5 metres long grading 1.77% zinc, 0.16% lead and 20 grams silver; the other was 2.8 metres long grading 1.92% zinc and 2.5 grams silver.

The mineralization is in tuffs and other fragmental rocks, which have interbedded chert horizons. In the hangingwall of the mineralization is a coarse rhyolitic fragmental unit, which suggests that a volcanic vent may be nearby.

These and previous drill holes indicate that the volcanic pile (which strikes northeast and dips steeply) is thicker at depth and that the volcanic centre may exist at depth. Chlorite and sericite alteration is also developed more strongly at depth, suggesting more intense hydrothermal action.

A third hole, 62, drilled 1.2 km southwest of hole 63, tested a pulse-electromagnetic (PEM) target and intersected several bands of pyritic massive sulphides. One of these zones carried 35% copper, and all had moderate concentrations of zinc, silver and gold.

Two geophysical anomalies northeast of the Cross Lake zone have been drilled, and assay results are pending. Cross Lake is running PEM surveys down the drill holes to establish the shape of the conductors.

About 3 km southwest of the Cross Lake zone, on the Night Hawk Lake property, 60%-owner Golden Knight Resources (GKR-T) is testing the Road zone, another target along strike from the discovery. Cross Lake has a 16% interest in the property, with East West Resource (EWR-V) holding 16% and Canadian Golden Dragon Resources (CGG-V) holding 8%.