golden lake acquires the “full monty” property and other claims on the copperview property, princeton, bc
Vancouver, British Columbia – April 12th, 2022, Golden Lake Exploration Inc. (CSE: GLM) (“GLM” or the “Company”) (GOLXF-OTC) is pleased to announce the acquisition of a three strategically located properties on its Copperview Property located in south-central BC.
The Company also welcomes Mr. Arnie Pollmer P.Geo. to its advisor board. Arnie is a geologist with more than 40 years’ experience, including specific knowledge and expertise related to the Company’s Copperview South property through his role as mine geologist and exploration manager for 5 years with Brenda Mines Ltd. Other roles include Chief Geologist Boss Mtn. division of Noranda Mines Ltd., acting mine manager, senior geologist supervising up to 20 to 30 personnel at the QR Mine, Quesnel and Quintette Coal Mine and project manager with a Huu-ay-aht First Nations Project.
The lead acquisition is the “Full Monty” property located contiguous to the Company’s Copperview South property and comprises 167 hectares and covers three BC Minfile prospects/showings (from north to south, Snowstorm 092HNE032, Siwash Silver 092HNE001, and Mabel 092HNE028). The property covers the south Siwash Creek drainage, which was a historical placer location in the early 1900’s, with the southern boundary of the property located 1,100 meters, and on-trend with the Spud Prospect (092HNE320) on the Copperview South property.
Figure 1. Map of newly acquired claims at the Copperview Project
Historic work including development of six adits, completed from 1917 to the late 1920’s with additional underground work in 1951-1952. Prospecting, sampling, soil geochemistry and geophysics have been completed by various companies from the 1980’s to 2000’s. On the current property, a total of 32 percussion or diamond drill holes have been completed, comprising 2,318 meters. The prospects and showing consists of quartz veins and stockworks associated with shear zones in granite of the Middle Jurassic Osprey Lake batholith. The veins and shears are silicified and mineralized with hematite, pyrite, and chalcopyrite, and copper oxides (malachite). Based on government assessment reports and private company data, significant values of gold, silver, copper, lead. and zinc have been returned in historic underground and surface sampling and in drill holes.
Note that the company has not verified the values in government assessment filings, and they are not to be relied upon, and additional sampling, assaying and verification is required.
To acquire a 100% interest in the Full Monty property, the Company will pay make cash payments totaling $30,000 and issue 300,000 shares over a 12-month period. The Company will grant the vendor a 1.5% NSR which can be bought back, in its entirety, for $1,500,000 at any time.
The Company has also acquired two additional claim blocks by staking on the Copperview North property. The Connector claims only comprise 311 hectares, but strategically links the Company’s holdings located north of Kodiak Copper Corp, with the claims that are located north and north-east of Gold Mountain Mining Corp. The Company also acquired a single unit comprising 21 hectares that cover the “Buck Showing” (Minfile 092HNE133). Historic sampling in 1991returned 0.69 g/t Au and 3.4 g/t Ag over 0.2 metre from a location sampled earlier (1986-1990) that yielded 0.72 g/t Au and 2.5 g/t Ag (Assessment Report 22259). The Buck showing is on the north side of Buck Lake, approximately 2.3 kilometers north of the Company’s Vinson Lake Target, defined by anomalous soil geochemistry and geophysics.
Mike England, CEO, state, “We continue to expand and strengthen our expansive Copperview holdings around the recent copper discovery on Kodiak Copper Corp.’s MPD property, and flanking on three sides, BC newest gold producer, the Elk Mine, owned by Gold Mountain Mining Inc. The Full Monty property aligns well with targets we were already defining at the Spud Prospect. A thorough review of the extensive assessment and private company data and reports has been initiated to fast-track the selection of drill targets, assisted by newest Company advisor, Arnie Pollmer. “
Golden Lake Exploration's disclosure of a technical or scientific nature in this news release has been reviewed and approved by Garry Clark, P.Geo., who serves as a qualified person under the definition of National Instrument 43-101.
About Golden Lake Exploration Inc.
Golden Lake Exploration is a junior public mining exploration company engaged in the business of mineral exploration and the acquisition of mineral property assets. Its objective is to acquire, explore and develop economic precious and base metal properties of merit and to aggressively advance its exploration program on the Jewel Ridge property. The Jewel Ridge property is located on the south end of Nevada's prolific Battle Mountain-Eureka trend, along strike and contiguous to Barrick Gold's Archimedes/Ruby Hill gold mine to the north and Timberline Resources' advanced-stage Lookout Mountain project to the south. The Company also owns a large (37.814 hectare) early-stage property in south-central British Columbia, contiguous to Kodiak Copper Corp., and Gold Mountain Mining Inc., that is highly prospective for copper-gold porphyry and mesothermal gold-bearing quartz-vein mineralization.
ON BEHALF OF THE BOARD
Mike England, CEO & DIRECTOR
FOR FURTHER INFORMATION PLEASE CONTACT:
Neither the Canadian Stock Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
FORWARD LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management’s current expectations and assumptions. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward -looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at WWW.SEDAR.COM).
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