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Copper Lake Resources Finalizes Exploration Plans and Priorities for Marshall Lake Copper-Zinc-Silver Property, Ontario
TORONTO, May 05, 2021 (GLOBE NEWSWIRE) -- Copper Lake Resources Ltd. (TSX-V: CPL, Frankfurt: WOL, OTC: WTCZF) (“Copper Lake” of the “Company”) is pleased to pro
About this update from Copper Lake Resources Ltd.
[{"type":"text","content":" TORONTO, May 05, 2021 (GLOBE NEWSWIRE) -- Copper Lake Resources Ltd. (TSX-V: CPL, Frankfurt: WOL, OTC: WTCZF) (“Copper Lake” of the “Company”) is pleased to provide an update on exploration priorities as well as upcoming work, to be completed on its Marshall Lake volcanogenic copper-zinc-silver massive sulphide (“VMS”) property (the “Property”) in 2021. The Property is located 250 km northeast of the City of Thunder Bay, in northern Ontario and is accessible by an all-weather gravel road leading from Highway 11 (Trans Canada Highway), providing good access year-round. An ongoing compilation of historic data has identified the following targets as highest priority, for upcoming exploration work to be completed during the summer of 2021. Main Billiton Zone: The Main Billiton Zone contains a historical resource of 2.2 million tonnes at a grade of 1.3% copper, 4.2% zinc and 2.5 oz/t silver1. It comprises a minimum of 5 stacked lenses of heavily disseminated to massive sulphides, traced by drilling over a 600-metre strike length and to a maximum depth of 150 metres below surface. Highlights from historical drilling include the following high-grade intercepts: 3.0% Cu, 11.0% Zn & 219.7 g/t Ag, 7.9% CuEq2 over 7.4 metres (GGM-78-230) 2.3% Cu, 9.8% Zn & 124.4 g/t Ag, 6.1% CuEq2 over 5.5 metres (NWT-68-83) 1.8% Cu, 9.4% Zn & 164.2 g/t Ag, 5.8% CuEq2 over 3.6 metres (ML-82-07) 1 Cautionary note: the resources described above are considered historic under NI 43-101 guidelines and have not been verified by an independent Qualified Person and therefore should not be relied upon. The Company is not treating the historic resource as a current resource.2Copper Equivalent (CuEq) is based on prices of US$4.00/lb for copper, US$1.20/lb for zinc & US$20/oz for silver The Main Billiton Zone is hosted in the ‘Marshall Mineralized Band’, an altered and mineralized sequence of chemical sediments interbedded with massive felsic volcanic rock. Alteration zones associated with the sulphide mineralization, contain biotite, garnet and actinolite. Growing geological evidence suggests that all of the North Diabase, Adnarod, Swamp and South Billiton occurrences, are hosted within the same folded rock sequence as the Main Billiton Zone; i.e. within the Marshall Mineralized Band (see Map 1). The North Diabase occurrence has yielded zinc values a...