successfully completed the first phase of its aggressive exploration program at Mosher Lake in April 1998.
|Seventeen larger diameter
holes were drilled, testing grade and tonnage potential along the strike
and down dip. This highly successful program verified significantly higher
assayed gold grades along strike and extended the mineralized shear zone
to 1.2 kilometres from the previous 240 metres. Drilling traced an
exceptionally wide mineralized shear zone of 100 metres in width to the
north and 30 metres across in the south. One of the most significant
pictures emerging from all previous drilling programs is that the best
assays are concentrated in the "lower zone" near the contact
with volcanic rocks.
|Numerous gold intersections were
encountered, highlighted by 10.3 metres @ 6.8 g/t gold, including 1.5
metres of 40.0 g/t, as well as 3.5 metres @ 10.0 g/t gold and 1.0 metres @
9.0 g/t gold.
|The target at Mosher Lake is a
multi-million ounce gold deposit similar to those being mined at
Yellowknife. The Mosher Lake setting is analogous to the CON and GIANT
Mines approximately 90 kilometres to the southeast. Thirteen million
ounces of gold have been produced between both mines to date, operating
along the twenty kilometre long Campbell Shear Zone. It is important to
note that Firesteel's wholly owned Mosher Lake Property covers the entire
twenty kilometre long greenstone belt at Mosher Lake.