golden lake extends the “red zone” at the hamburg mine zone, jewel ridge project, nevada
Vancouver, British Columbia – April 21, 2022, Golden Lake Exploration Inc. (CSE: GLM) (“GLM” or the “Company”) (GOLXF-OTC) is pleased to report it has intersected the “Red Zone”, marked by the visual arsenic minerals orpiment and realgar, in hole JR-22-42DD, a follow up drill hole to hole JR-22-36DD (see PR dated March 23, 2022) located at the Hamburg Mine Target, on the Company’s keystone Jewel Ridge project, located in the prolific Eureka gold district, Nevada. Hole JR-22-42DD was drilled at a -50⁰ dip on an azimuth 265⁰ to a depth of 183.5 metres (602 ft).
“Hole JR-22-42DD was designed to test the strike of the Red Zone approximately 25 meters (75 ft) to the northwest. This is a very exciting development for shareholders of Golden Lake as it begins to give some orientation to the prospective Red Zone mineralization hosted in the Dunderberg Shale near the contact with the Hamburg Dolomite. Regionally, this shale-dolomite contact runs along a north – south corridor throughout the entire Jewel Ridge property.” stated Mike England, CEO and President of Golden Lake.
A link to a short video showing select sections of core from hole 42 can be found here:
As previously reported, (March 23, 2022), hole JR-22-36DD returned 26.37 meters averaging 5.38 grams gold per tonne (g/t Au) from a shallow depth of 42.64 meters. The highest grade mineralization (8.56 metres averaging 10.72 g/t Au from a depth of 56.66 metres) occurred within the Dunderberg Shale horizons, associated with silicification and sulfidation, and with frequent and vivid arsenic sulfide minerals, orpiment and realgar. The Dunderberg Shale represents an attractive underexplored geologic target, in addition to the known oxide gold mineralization in the altered, oxidized dolomite breccias of the Hamburg Dolomite. The prospective Hamburg Dolomite - Dunderberg Shale contact is projected to extend the entire 3.5-kilometer length of the Jewel Ridge property.
Hole JR-22-42DD fracture-controlled orpiment
Orpiment cross-cutting and offsetting earlier pyrite vein
Drilling Quality assurance and quality control statement
Procedures have been implemented to assure QA/QC of drill hole assaying being done at an ISO accredited assay laboratory. All intervals of drill holes are being assayed and samples have been securely shipped and received by ALS Labs in Reno, Nevada, with chain-of-custody documentation through delivery. Mineralized commercial reference standards and coarse blank standards are inserted every 20th sample in sequence. All results will be analyzed for consistency.
About 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 I-80 Gold Corp.’s Archimedes/Ruby Hill gold mine to the north and Timberline Resources' advanced-stage Lookout Mountain project to the south.
The property comprises 96 unpatented lode mining claims and 30 patented claims covering approximately 728 hectares (1,800 acres). The Jewel Ridge property contains several historic small gold mines. The Company’s focus is on Carlin-style disseminated gold deposits, the primary focus in the area since the late 1970s.
Nevada Carlin-type gold deposits (CTGD) have a combined endowment of more than 250 million ounces, which are concentrated (85 per cent) in only four trends or camps of deposits: Carlin, Cortez (Battle Mountain-Eureka), Getchell and Jerritt Canyon. The Company cautions that results on adjacent and/or nearby projects are not necessarily indicative of results on the Company’s property.
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 I-80 Gold Corp.’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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