Golden Lake Reports 303 g/t Silver and 11.2 g/t Gold from Surface Grab Samples at the South Eureka Zone, Jewel Ridge Property, Nevada
February 01, 2021 at 03:55 pm EST
Share
Golden Lake Exploration Inc. reported additional anomalous and significant silver and gold values from surface rock samples from several targets on the company's keystone Jewel Ridge gold property located near the town of Eureka, Nevada. The area northeast of the Eureka Tunnel portal was drilled by the Company with five drill holes (four Reverse Circulation ("RC") holes and 1 core hole (assays pending)). Highlights included RC hole JR-20-06 which intersected two zones of mineralization. An upper mineralized zone ("UMZ") of 1.25 grams gold per tonne gold (Au g/t) and 5.5 grams silver per tonne (Ag g/t) silver over 16.76 metres was intersected from surface, and a second, lower mineralized zone was intersected at a depth of 160 meters, averaging 1.48 g/t Au and 1.3 g/t Ag over 10.67 meters, hosted in dolomite. Similar to the UMZ, the lower grade mineralization (halo mineralization) underlies this interval, with a wider zone returning 0.83 g/t Au and 1.0 g/t Ag over 21.34 meters from a depth of 160.02 meters. Hole RC-20-09 was the only hole on the east flank of the valley that was drilled to depth (190 meters) to test this mineralized horizon (holes RC-20-06, 07, and 08 were too shallow). The multiple stacked nature of the oxide gold mineralized horizons significantly enhances the tonnage potential of the Northeast Eureka Zone in hole JR-20-09. Surface sampling was conducted northeast of the Company's drill holes, in an area of intense road building and shallow, historic drill holes over an area of 200 meters in a northeast direction, by 160 meters wide. Many samples were retrieved from piles around historic RC holes that the Company does not have data for. The results strongly indicate a continuation of the Northeast Eureka Zone to the north and northeast. Silver and base metals values are markedly lower on samples from this target area and are interpreted to reflect Carlin-style, oxide gold mineralization. The South Eureka Target is centered approximately 230 meters due south of the Eureka Tunnel adit in a North-south trending steeply incised valley. Diamond drill hole JR-20-DD13 (assays pending) tested this target. Four rock samples of highly oxidized, gossanous material from dumps and workings in the area have returned good gold, silver and base metal values indicative of Carbonate Replacement Deposit (CRD) mineralization. The area is located just south-west of, and on-trend with the Northeast Eureka Zone.
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. 
