Forest Gate Goes Deep For Target At California Lake Silver Property

OCTOBER 1, 2003, MONTREAL. QC - Forest Gate Resources reports that as it finalizes its exploration strategy for its East Side diamond property in Fort a la Corne, Saskatchewan, the company will have an opportunity to run a geophysical survey over its California Lake silver property in Bathurst, New Brunswick.

Forest Gate says that in the next two weeks it will try to re-locate a deep conductive target that it theorizes may be a volcanogenic massive sulphide (VMS) system and feeder system of the shallower, high-grade silver vein system at California Lake. The property is owned 100% by Forest Gate.

The deep target was identified about fifteen years ago with previous exploration work but needs to be re-located with sufficient accuracy before Forest Gate can drill it. To do this, the company will run a ground horizontal loop electromagnetic (HLEM) survey over California Lake.

"The existence of a deeper VMS system would have significant ramifications for the California Lake silver property," says Michael Judson, President of Forest Gate. "The high-grade silver mineralization on our property has been recognized for years. The challenge is to drill up sufficient tonnage to justify mining it. If there is a VMS system beneath the silver veins, then the whole situation is altered dramatically. VMS systems are typically high tonnage deposits."

The company is also looking for a deep gold target on its 100 %-owned Rio Road property also located in Bathurst, New Brunswick. Previous exploration on the property yielded small amounts of gold mineralization near surface but gold values appeared to increase at depth. Forest Gate is running an induced polarization (IP) to define a deep drill target there.