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Copper Lake Resources Provides Exploration Update on its Marshall Lake Copper-Zinc-Silver-Gold VMS Property, Northern Ontario
TORONTO, May 10, 2022 (GLOBE NEWSWIRE) -- Copper Lake Resources Ltd. (TSX-V: CPL, Frankfurt: WOI, OTC: WTCFZ) (“Copper Lake” or the “Company”) is pleased to pro
About this update from Copper Lake Resources Ltd.
[{"type":"text","content":" TORONTO, May 10, 2022 (GLOBE NEWSWIRE) -- Copper Lake Resources Ltd. (TSX-V: CPL, Frankfurt: WOI, OTC: WTCFZ) (“Copper Lake” or the “Company”) is pleased to provide an update on the exploration program on its Marshall Lake copper-zinc-silver-gold volcanogenic massive sulphide (VMS) property (the “Property”), located northeast of Thunder Bay, Ontario. Borehole Electromagnetic (EM) Surveys Recent drilling on the Property resulted in the discovery of a new zone of mineralization known as the VTEM/Deep IP discovery. Highlighting the new discovery, is an intersection of 1.74% copper, 0.05% lead, 2.35% zinc, 109.67g/t silver & 1.41 g/t gold over 11.87 metres (Mar-21-03). Additionally, a second hole testing the new discovery (Mar-22-01), intersected 2 well-mineralized zones, comprising heavily disseminated to semi-massive chalcopyrite, sphalerite and pyrite over 2.17 and 1.95 metres, respectively. Assays for these 2 intercepts are pending and expected within the next few weeks. Borehole EM surveys were recently completed on these two holes, as well as a few other strategic holes, to help identify extensions to the mineralized zones and to assist in vectoring towards thicker accumulations of sulphide mineralization at this locale. Modelling of the BHEM data is currently underway with the immediate goal of prioritizing targets for a drill program to occur in the coming summer months. Preliminary interpretation of the BHEM data is anticipated to be received by the Company within a week’s time. Summer Exploration Program The first priority for diamond drilling this summer will be to continue to test the new VTEM/Deep IP discovery in efforts to enlarge or expand on the limits of this new zone of mineralization. The large IP anomaly (chargeability and resistivity) and VTEM conductors associated with mineralization, have seen very minimal testing with only 3 drill holes – additional drilling is clearly warranted. The second priority will be an initial drill test of the Deeds Island target. A prominent residual gravity anomaly (200 metres by 100 metres) at this site is closely associated with a strong zinc geochemical anomaly, a zone of strong hydrothermal alteration and a number of airborne EM conductors. The gravity anomaly is currently being modelled in 3D, to help define specific high-priority drill targets. The Deeds Island target lo...