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Firesteel Resources has commenced planning its Phase Two Mosher Lake
1997 Exploration Program, slated for midsummer. Confidence in the
project is strongly supported by four fundamental geological features
consistently found on the property. These are:
- All three Mosher Lake drilling programs have consistently
encountered strong ore-grade intersections greater than 3.0 g/t of
gold exceeding widths of 1.5 metres, proving that the mineralized
shear/vein zone contains substantial gold content.
- The current Phase One 1997 Exploration Program successfully tested
and extended the length of the mineralized zone from 240 metres to
1.2 kilometres. This newly extended strike zone remains open along
length and at depth. Firesteel's wholly owned claims span twenty
consecutive kilometres along this greenstone belt.
- All three Mosher Lake drilling programs have continually traced an
incredibly wide mineralized shear zone varying in thickness from 30
metres in the south to 100 metres in the north.
- All three Mosher Lake drilling programs have confirmed that the
best assays are concentrated in a "lower zone" near the
contact with volcanic rocks. This gold-bearing setting is consistent
with that hosting the adjacent multimillion ounce CON and GIANT
Mines at Yellowknife.
The Phase Two 1997 Exploration Program will include:
- Diamond drilling designed to further test the primary targeted
Gold Island Zone's significant gold intersections and continue to
expand the mineralized zone along strike and dip. The other
significant target to be evaluated in the drilling program is the
belt of volcanic rocks on the northern side of the Mosher Lake
Fault, where drill hole M97-17 intersected a 100 metre thick
mineralized shear/stockwork/vein zone. This zone is situated at the
southern end of a one kilometre long magnetic anomaly within
volcanic rocks. A number of other geophysical anomalies, including
lengthy formational conductors/magnetic anomalies occur at the
volcanic-sediment contact.
- Soil/Rock geochemistry
- Detailed geological mapping
To-date work at Mosher Lake confirms the gold potential of the Mosher
Lake Greenstone Belt and supports the analogy between this belt and the
prolific adjacent Yellowknife Greenstone Belt.
ON BEHALF OF THE BOARD OF DIRECTORS OF
FIRESTEEL RESOURCES INC.
David G. Dupré, President
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