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Copper Lake Resources Commences Field Work on the Mine Lake Gold Property to Follow Up Historical Assays of Up to 62.80 g/t Gold
TORONTO, Oct. 18, 2018 (GLOBE NEWSWIRE) -- Copper Lake Resources (TSX-V: CPL) is pleased to announce that prospecting, mapping and trenching has commenced on th
About this update from Copper Lake Resources Ltd.
[{"type":"text","content":" TORONTO, Oct. 18, 2018 (GLOBE NEWSWIRE) -- Copper Lake Resources (TSX-V: CPL) is pleased to announce that prospecting, mapping and trenching has commenced on the optioned Mine Lake gold property located near the community of Savant Lake, Ontario, approximately 230 km northwest of Thunder Bay, Ontario. Mine Lake Property Highlights Contains 3 contiguous prospect areas: Mine Lake, Thomas Lake and Stewart-Contact prospects Historical grab samples assayed up to 62.80 grams per tonne (“g/t”) Gold (“Au”) Historical channel samples up to 3.20 metres (“m”) @ 6.90 g/t Au Mineralized shear zones historically mapped up to 1,500 m strike length and over widths up to 50.0 m No modern drilling conducted Terry MacDonald, CEO of Copper Lake Resources commented: “The work on the Mine Lake prospects follows closely on the heels of the Queen Alexandra work and continues our emphasis on unlocking the potential in these high-grade gold properties which have had little or no modern exploration work performed. We are also looking to add to our portfolio of high-grade gold properties through the selective acquisition of properties as opportunities arise.” The Mine Lake property is adjacent to the past-producing St. Anthony Gold Mine which operated from 1934 to 1942 and produced 63,310 oz of gold from 332,720 tons, an average recovered grade of 0.191 oz/ton of gold per ton, which is equivalent to 6.13 g/t Au. The Savant-Sturgeon Greenstone Belt is similar to many of the Archean greenstone belts located in northwest Ontario, where orogenic lode gold deposits are closely associated with regional deformation zones. The property area has historically been explored for high-grade gold quartz veins and hosts numerous small pits and historical shafts that targeted the gold-bearing quartz vein systems. Visible gold in quartz is common. Most of these high-grade gold prospects on the Mine Lake property remain underexplored and poorly understood. About the Mine Lake Property The Mine Lake claims cover three prospects, namely Mine Lake, Thomas Lake and the Stewart-Contact Zone and covers approximately 480 hectares (4.8 sq km). Historically, the Mine Lake and the Stewart-Contact Zone saw extensive trenching, blasting of several pits, and the sinking of two shallow shafts with limited underground development. No modern drill holes have been completed and no assays h...