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Copper Lake Resources Commences Drilling to Depth on High-Grade Copper-Zinc-Silver-Gold Marshall Lake Project
TORONTO, Sept. 29, 2020 (GLOBE NEWSWIRE) -- Copper Lake Resources Ltd. (TSX-V: CPL, Frankfurt: W0I) ("Copper Lake" or the "Company") is pleased to announce that
About this update from Copper Lake Resources Ltd.
[{"type":"text","content":" TORONTO, Sept. 29, 2020 (GLOBE NEWSWIRE) -- Copper Lake Resources Ltd. (TSX-V: CPL, Frankfurt: W0I) (\"Copper Lake\" or the \"Company\") is pleased to announce that the Company commenced its 2020 autumn drill program on September 28 on the high-grade Billiton Main Zone at its Marshall Lake copper-zinc-silver-gold property, located 250 km northeast of Thunder Bay, Ontario. The Company has contracted with Niigaani Drilling of Gull Bay, Ontario to conduct the drill program. This preliminary drill program with a total of 1,220 metres in 4 holes is planned to begin testing depth extensions of the known zone. The holes are designed to follow up on the high-grade intercepts and test the depth and continuity with deeper holes. Drilling is expected to be completed within three weeks, with assay results to follow. The Billiton Main Zone has been the subject of significant historical drilling which has resulted in numerous high-grade intercepts (see Appendix A.) These intercepts illustrate high copper and zinc content, with very high silver grades including numerous intercepts over 300 g/t Ag and two at over 420 g/t Ag. The Billiton Main Zone has historical resource estimates* of 1.175 million tons @ 0.82% Cu, 2.71% Zn, 1.77 ounces/ton Ag and 0.170 g/t Au (reported by A.S. Bayne, P.Eng. in 1970) and 300,000 tons @1.45% Cu, 4.76% Zn, 2.80 ounces/ton Ag and 0.046 ounces/ton Au (reported by D.W. Sullivan, P.Eng. in 1968) for a combined total of 1.475 million tons @ 0.95% Cu, 3.13% Zn, 1.980 ounces/ton Ag and 0.014 ounces/ton Au. This historical resource is from a contiguous sulphide zone which traverses a mining lease boundary, with the above two resource estimates being on either side of the boundary. These estimates included only 6 holes drilled below 150 metres depth. The attached table in Appendix A demonstrates some extraordinary rich sub intervals in historical drill hole logs. These metal rich grades and their potential very high net smelter return per tonne values, over potential good mining widths may have been in part corroborated by the results of a recent 2018 drill hole MAR18-07 which returned an intercept of 3.20% Cu, 8.35% Zn, 367.0 g/t Ag and 8.01 g/t Au over 1.0 metres at a vertical depth of approximately 150 metres. Recent 3D Leap Frog modelling of the old drill hole data and some post 43-101(2004) drilling suggests reasona...