Having intersected a wide magnetite zone in two holes collared two miles apart on its Wanapitei holdings in Mackelcan Twp., Ont., Flag Resources (ASE) plans to use a larger drill to deepen the holes.
Flag believes the magnetite, extending at least 2,700 ft. below surface, is related to a deeper igneous intrusive that may be associated with base and precious metal mineralization.
The smaller rig will be moved over to the nearby Campsite gold and copper deposit, where previous drilling intersected 73.5 ft. grading 0.52 oz. gold per ton and 48 ft. grading 3.6% copper.
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