Business
Copper Lake Resources Identifies New Priority Targets and Provides Exploration Update on the Marshall Lake Copper-Zinc-Silver VMS Property
TORONTO, July 19, 2023 (GLOBE NEWSWIRE) -- Copper Lake Resources Ltd. (TSX-V: CPL, Frankfurt: WOI, OTC:WTCZF) (“Copper Lake” or the “Company”) is pleased to pro
About this update from Copper Lake Resources Ltd.
[{"type":"text","content":" TORONTO, July 19, 2023 (GLOBE NEWSWIRE) -- Copper Lake Resources Ltd. (TSX-V: CPL, Frankfurt: WOI, OTC:WTCZF) (“Copper Lake” or the “Company”) is pleased to provide the following comprehensive exploration update on its Marshall Lake copper-zinc-silver volcanogenic massive sulphide (VMS) property, situated in northwestern Ontario. The Company has completed multi-faceted exploration programs focused on the Billiton Zone area of the property over the last 3 years and has gained a much greater understanding of the geology, structure, architecture and exploration upside of the VMS system. The analysis of the most recent drill program has identified two priority drill targets – the MT Conductor and the East-West Build-Up Conductor. Terry MacDonald, Copper Lake CEO, commented “The exploration programs over the last three years have provided us with significant new information and a much better understanding of the geological structure of the Billiton Zone, with each program adding to our understanding and giving us better targets. We now have evidence of a time horizon with sedimentation encountered just above the MT conductor, at a depth of 370m. The strongest part of the MT conductor appears to start at a depth of 700m, and continues as deep as the MT can see. We are eagerly looking forward to drilling this target. And the new Build-Up Conductor two km to the south-east is also very exciting. This conductor follows on the trend line of the stringer zones and is stratigraphically higher in younger rock – the ideal location for a VMS deposit.” An exploration program featuring ground geophysics and diamond drilling is planned for the summer and fall of 2023, to test the new targets generated by the collective exploration efforts completed during the 2021 to 2023 field seasons. Recent Exploration Results, 2021-2023 Given that the Billiton deposit historically, has yielded the best drill results and demonstrated economic potential, Copper Lake’s initial exploration efforts focussed on exploring this locale (historic resource – non 43-101 compliant, 2.2 MT @ 1.3% Cu, 4.2% Zn & 2.5 oz/t Ag1). In view of the absence of deep drilling in the Billiton area, the Company completed a combined magneto-telluric (MT) and deep induced polarization (IP) survey to generate drill targets. In 2021, the IP survey generated a large north-south trending...