Golden Lake Exploration Inc Reports Additional Assay Results from Six Holes from the 2021 Diamond Drill Program at the Jewel Ridge Project Near the Town of Eureka in Nevada
December 07, 2021 at 11:24 am EST
Share
Golden Lake Exploration Inc. reported additional assay results from six (6) holes from the 2021 diamond drill program at the Jewel Ridge project near the town of Eureka in Nevada. Further drill hole assays remain pending. A 4,232 meter Diamond Drill program comprised of 22 holes focused on defining and expanding the mineralization encountered in its 2020 drill program was completed in 2021. The previously released 2021 drill results indicate a shallowly north dipping zone of mineralization averaging 1.30 g/t Au over a thickness of 30.32 meters based on 2021 diamond drill holes JR-21-14DD to JR-16DD, and JR-21-18DDthrough JR-22- 21DD. The new results indicate that this zone is abruptly down faulted to the north along a west to northwest trending structure. Based on 2021 drill results to date a much thicker, lower grade mineralized zone has been discovered in the hanging wall of the fault. This mineralization averages 0.38 g/t over a thickness of 101.1 meters based on 2021 diamond drill holes JR-21-17DD, and JR-21-23DD to JR-21-27. The new mineralization, which starts from the surface, is open to the north and east and is only partially constrained to the west and south. The drill holes are slightly oblique to mineralization so these thicknesses may not represent true widths. To date the overall size of the area of known mineralization at Eureka Tunnel is approximately 270 meters long and 90 meters wide and there is a good potential for expansion. The Eureka Tunnel mineralized zone consists of both carbonate replacement deposit ("CRD") mineralization and Carlin-type mineralization. Recent petrologic studies indicate overlapping mineralization styles which are still being worked out. Based on encouraging petrography and mineralogy results, the company will be completing initial metallurgical studies to determine the gold recovery in a heap leaching application. The Company currently has a permit revision being submitted to the BLM for additional drill sites for a proposed 2022 drilling program. Once bonded, drilling could be initiated as early as January if the weather permits. A diamond drill has been secured for this work. In addition, final cash and share payments to Greencastle Resources Ltd. that were due in 2022 were accelerated and paid in full and the Company now owns 100% of the property.
Golden Lake Exploration Inc. is a Canada-based public mining exploration company. The Company acquires, explores, and develops precious and base metal properties of merit and to aggressively advance its exploration program on the Jewel Ridge property. The Companyâs Jewel Ridge property is located on the south end of Nevadaâs prolific Battle Mountain-Eureka trend, along strike and contiguous with i-80 Goldâs Archimedes, Ruby Hill and FAD shaft gold deposits to the north, Timberline Resources advanced-stage Lookout Mountain project to the south and North Peak Resources Prospect Mountain Mine Complex to the west. It also holds the Cardinalli Portfolio, consisting of three patented mineral claims called the Sentinel, the Clipper and the Golden Rule, comprising approximately 23 acres. It also owns an early-stage property, the Copperview project, which is situated in south-central British Columbia. It holds the option to acquire a 100% undivided interest in the Conglin Creek Copper Property.
Golden Lake Exploration Inc Reports Additional Assay Results from Six Holes from the 2021 Diamond Drill Program at the Jewel Ridge Project Near the Town of Eureka in Nevada