GOLDEN TAG RESOURCES LTD. Symbol "GOG"
TSX Venture Exchange
Phone
: (514) 426-8542; Fax : (514) 426-8543 ; email : [email protected]
NEWS RELEASE
_______________________________
September
10, 2002
DRILL PROGRAM
TO COMMENCE ON McCUAIG RED LAKE PROPERTY
Golden Tag
Resources Ltd. (GOG:TSX Venture Exchange) is pleased to announce that diamond drilling
is due to commence on or around September 15, 2002 on the McCuaig property in
Red Lake, Ontario. The McCuaig property is strategically located on the Red
Lake Mine Trend which is host to >22 million ounces past gold production and
current gold reserves. A 10,000-foot drill program has been approved by the
Golden Tag (40%), Rubicon Minerals (60%) joint venture to test for the
continuation of high-grade intercepts in the 1900 Gold Zone discovery in March
2002. The program, estimated to cost $435,000, is part of a 12-month minimum
$1.0 million budget approved by the Red Lake McCuaig Joint Venture.
Highlights of the March, 2002 drill program include 2.21 oz/ton gold over 2.30 feet (75.91 g/t
over 0.70 metres) in hole MC-02-32, part of an interval grading 0.67 oz/ton
gold over 10.17 feet (22.83 g/t over 3.10 metres). Hole MC-02-27 returned 0.74
oz/ton gold over 5.58 feet (25.48 g/t over 1.07 metres) plus a separate
interval of 0.53 oz/ton gold over 1.48 feet (18.08 g/t over 0.45 metres). For
a tabulation of drill results, please refer to the Company's news release of
April 2, 2002.
John Watkins, P.Geo and QP has identified a possible
extension of the currently known 1900 Zone which is interpreted to lie entirely
within the McCuaig property. Geological surface mapping and sampling conducted
during Summer, 2002 has confirmed the presence of altered ultramafic rocks
geology on an island to the southwest of the 1900 Gold Zone which supports this
interpretation.
Golden Tag Resources Ltd. is a Montreal, Quebec
based Canadian Mineral Exploration Company trading on the TSX Venture Exchange
on a continuous basis since 1982. There are presently 10.7 million shares
issued and outstanding. For more information please contact Marc Carrier,
President at (514) 426-8542; Fax (514) 426-8543; email: [email protected].
On behalf of the Board of Directors, Signed by Marc
A. Carrier, President
The TSX Venture Exchange has not
reviewed and does not accept responsibility for the adequacy or accuracy of
this release.