new target identified on the jewel ridge property, nevada
Vancouver, British Columbia – May 14, 2020, Golden Lake Exploration Inc. (CSE: GLM) (“GLM” or the “Company”) reports on the identification of a new target on the company's keystone Jewel Ridge gold property located near the town of Eureka, Nevada. Recently, the Company acquired from a third-party, a geochemical data base completed by a major mining company, with a portion of the samples located on the Jewel Ridge property. Highlights include an area not sampled, nor drilled, designated as the “Radio Tower Target”, with values up to 6.03 grams gold per tonne (g/t Au), 119.5 g/t silver (Ag), 0.31 percent (%) copper (Cu), 4.11 % lead (Pb) and 1.58 % zinc (Zn).
The newly acquired data base included 710 samples over the Jewel Ridge property. The Radio Tower Target included nine samples, on the Eldorado and Sunset patented claims, located to the southwest of the Magnet Ridge target. Samples comprise grab rock samples from dumps of old mine workings and rock outcrop exposures. Grab rock samples are not representative of the grade of mineralization of an occurrence but are useful in determining prospectivity and geological features.
CEO Mike England stated “As we continue to collect data on Jewel Ridge the model is becoming stronger and better defined. We look forward to an exciting upcoming drilling campaign this summer to begin proving up the project.”
Table of Samples From the Radio Tower Area
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 Barrick Gold'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.
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.
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 & 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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