Flag seeks possible partner for Wanapitei deep drilling

Calgary-based Flag Resources (ASE) says it is discussing a potential joint venture with a company interested in drilling a 5,000-ft. vertical hole on the western magnetic peak of the Wanapitei anomaly near Sudbury, Ont.

Most of the peak lies in the northern sector of Flag’s 24,000-acre claim block. Other companies with ground over the anomaly include Falconbridge, which has plans to drill several electromagnetic conductors to depths of about 1,300 ft., and Teck (TSE).

Flag reports that chromium, a metal not normally found in the sediments of the Sudbury mining camp, has been found in the company’s Mackelcan Twp. drill hole at depths of 1,500-2,500 ft. The metal occurs in green mica within secondary quartz veining. Chromium is commonly associated with nickel, copper and platinum deposits within mafic intrusions.

Flag’s current hole has reached 2,500 ft., but a larger drill will be needed to penetrate the Huronian sediment cap. Last year, a 7,000-ft. hole drilled by Falconbridge in Sheppard Twp. just north of Flag’s ground failed to reach basement rocks.