geophysical survey commences on the jewel ridge property, nv
Vancouver, British Columbia – February 20th , 2020, Golden Lake Exploration Inc. (CSE: GLM) (“GLM” or the “Company”) reports that field activities have commenced, comprising a ground magnetics survey, on the Company’s keystone Jewel Ridge gold property near Eureka, Nevada.
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 two million-ounce Archimedes/Ruby Hill gold mine to the north and Timberline Resources' advanced-stage Lookout Mountain project to the south.
Highlights of the current program include:
- The geophysical survey will cover the entire Jewel Ridge property and comprise approximately 137 line-kilometers of high-resolution ground magnetics at 50 meter-line-spacing, in an east-west direction. Daily progress reports and digital data will be reviewed by the Company’s contract geophysical consultant. The magnetic survey will assist in the structural interpretation and analysis related to oxide mineralized gold zones.
- The magnetic survey is being conducted by Magee Geophysical Services LLC., based in Reno, Nevada. Magee Geophysical Services LLC has been conducting geophysical surveys for the mineral, oil & gas, and geothermal industries since 2004 specializing in ground magnetic and gravity surveys. Magee’s well-educated and well-trained staff conducts surveys safely, efficiently, and cost-effectively clients mostly in Nevada and the western USA but also worldwide (more information at www.gravityandmag.com).
- The last magnetic survey on the property was completed by Norse-Windfall Inc., (aka Norse Petroleum USA) who were active on the property from 1983-1988. No data or maps are available on this survey, however a published report noted: “…that the magnetic characteristics of the mineralized zones may be another field guide for zones of high-grade mineralization.” (source: Campbell and Buchanan, “The Rediscovery of Precious Metals in the Eureka Mining District,”, in Bulk Mineable Precious Metal Deposits of the Western United States, Published by the Geological Society of Nevada 1988.
About the Jewel Ridge Property
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 which align along a north-south-trending stratigraphic contact of Lower Paleozoic sedimentary rocks, as well as several other gold mineralized zones with a variety of structural and lithological controls. 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, PGeo, of Clark Exploration Consulting, Thunder Bay, Ontario, 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.
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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