golden lake retains contractor for exploration on newly acquired copperview project adjacent to kodiak copper corp.'s mpd property
Vancouver, British Columbia – September 16th, 2020 – Golden Lake Exploration Inc. (CSE: GLM) (“GLM” or the “Company”) is pleased to announce that it has retained Exploration Facilitation Unlimited Inc. (“EFU”), a geological consulting company, to initiate a reconnaissance exploration program on the “Copperview Project” bordering Kodiak Copper Corp.’s (“Kodiak”) (TSX-V: KDK) “MPD Property” in south-central British Columbia.
The Copperview project is situated on the same regional geologic trend as Kodiak’s MPD Property which recently reported an intercept in drill hole MPD-20-004 of 282 meters averaging 0.70 percent copper and 0.49 grams gold per tonne (PR Kodiak September 3, 2020). More recently (PR Kodiak September 14, 2020) Kodiak has announced a CAD $12.5 million dollar financing with Canadian major Teck Resources Ltd. subscribing to $10.5 million of the placement.
EFU will mobilize a four-man crew to the Copperview Project within a week. Field activities will include prospecting, rock and soil sampling, and geological mapping with an initial focus on nine (9) known Minfile (BC government designation) mineral showings or occurrences. In addition, on claims located approximately 4 kilometers northwest of Kodiak’s drill hole MPD-20-004, the exploration crews will prospect for extensions of, and parallel zones to, the Conglin Creek copper showing located near the eastern claim boundary. An extensive network of logging and ranching roads allows year-round access to most target areas over the project area.
The Copperview Project comprises 17 claim blocks totaling over 204 square kilometers (20,437 hectares) over a large area measuring 40 kilometers in an east-west direction, by 30 kilometers in a north-south direction.
Much of the Copperview Project has seen only limited exploration activity and only a few shallow drill holes. Historic exploration focused largely on exposed surface mineral showings and several large untested copper-in-soil and gold-in-soil anomalies are known and can quickly be advanced to new near-term drill targets. With some exploration activity dating to the 1960-1970s, many historical copper intervals were not assayed for gold, representing underexplored gold potential. Company management will provide further information on pending exploration plans on the Copperview Project following a detailed review and compilation of Minfile and assessment reports and a site visit.
Figure 1. Location map of the Copperview Project
Mike England, CEO & President of Golden Lake, said: "Following the recent acquisition of the expansive Copperview Project, we are pleased to be mobilizing an experienced exploration crew that we have worked with before, to investigate mineral showings and complete a reconnaissance assessment.”
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.
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.
ON BEHALF OF THE BOARD
Mike England, CEO, PRESIDENT & DIRECTOR
FOR FURTHER INFORMATION PLEASE CONTACT:
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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 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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