CA Market News
1月前
McEwen Inc. and Golden Lake Exploration Inc. Announce Closing of ArrangementApril 30, 2026 9:25 PM
ACCESS NewswireTORONTO, ON AND VANCOUVER, BC / ACCESS Newswire / April 30, 2026 / McEwen Inc. ("McEwen") (NYSE/TSX:MUX) and Golden Lake Exploration Inc. ("Golden Lake") (CSE:GLM)(OTCQB:GOLXF) are pleased to announce the completion of the previously announced business combination between McEwen and Golden Lake by way of statutory plan of arrangement (the "Arrangement").Golden Lake's principal asset is its Jewel Ridge and Jewel Ridge West projects located adjacent to McEwen's Windfall and Lookout Mountain discoveries, part of the Gold Bar Mine Complex, in the Eureka Mining District of Nevada. Historical drill highlights from Jewel Ridge project include 2.20 gpt gold over 28.96 meters, 1.24 gpt gold over 56.39 meters, 2.37 gpt gold over 67.57 meters. These holes are located north of McEwen's Windfall deposit, where a recent drill hole returned 5.55 gpt gold over 44.2 meters. Incorporating Golden Lake's projects into the Gold Bar Mine Complex will help continue the mine's transformation into a long-life operation by investing in exploration and leveraging the current McEwen infrastructure.Under the terms of the Arrangement, each holder of common shares of Golden Lake (each, a "Golden Lake Share") received 0.003876 McEwen common shares (each, a "McEwen Share") for each Golden Lake Share held (the "Exchange Ratio"). In addition, pursuant to the terms of the Arrangement, all outstanding common share purchase warrants of Golden Lake (the "Golden Lake Warrants") were cashlessly exercised and cancelled in exchange for Golden Lake Shares having a value equal to their in-the-money amount, and all outstanding convertible notes of Golden Lake (the "Golden Lake Notes") were converted into Golden Lake Shares based on principal and accrued interest in accordance with their terms.All issued and outstanding Golden Lake Shares (including the Golden Lake Shares issued to holders of Golden Lake Warrants and holders of Golden Lake Notes) were exchanged for McEwen Shares on the basis of the Exchange Ratio. Outstanding stock options of Golden Lake were exchanged for replacement options of McEwen on an equivalent economic basis, with adjusted exercise prices, exercisable within 90 days following the closing of the Arrangement, in accordance with the terms of Golden Lake's stock option plan.The shares of Golden Lake are expected to be delisted from the Canadian Securities Exchange (the "CSE") effective as of the close of market on April 30, 2026. Golden Lake will submit an application to cease to be a reporting issuer under applicable Canadian securities laws and to otherwise terminate its public reporting requirements.Information for Golden Lake ShareholdersCertificates formerly representing Golden Lake Shares now represent only the right to receive McEwen Shares to which the holders are entitled pursuant to the Arrangement.In order to receive their McEwen Shares, registered shareholders of Golden Lake must deposit their share certificates or DRS advice(s) with a completed Letter of Transmittal, as set forth in the information circular of Golden Lake dated February 10, 2026. The Letter of Transmittal was mailed to registered shareholders together with the meeting materials for the Golden Lake meeting and it is also available on Golden Lake's SEDAR+ profile on www.sedarplus.ca.Golden Lake shareholders who own their shares through a broker or other intermediary should contact such broker or other intermediary regarding their receipt of McEwen Shares under the Arrangement. Further information regarding the Arrangement, including instructions on how to exchange Golden Lake Shares for McEwen Shares, is set out in the management information circular of Golden Lake dated February 10, 2026, a copy of which is available on the profile of Golden Lake on SEDAR+ at www.sedarplus.ca.About Golden LakeGolden Lake Exploration is a junior public mining exploration company engaged in the business of mineral exploration and the acquisition of mineral property assets.About McEwenMcEwen shares trade on both the NYSE and TSX under the ticker MUX.McEwen provides its shareholders with exposure to a growing base of gold and silver production in addition to a very large copper development project, all in the Americas. The gold and silver mines are in prolific mineral-rich regions of the world, the Cortez Trend in Nevada, USA, the Timmins district of Ontario, Flin Flon in Manitoba and the Deseado Massif in Santa Cruz province, Argentina. McEwen is also reactivating its gold-silver El Gallo Mine in Mexico.The Company has a 46.3% interest in McEwen Copper, which owns the large, long-life, advanced-stage Los Azules copper development project in San Juan province, Argentina - a region that hosts some of the country's largest copper deposits. According to the last financing for McEwen Copper, the implied value of McEwen's ownership interest is US$456 million.The Los Azules copper project is designed to be one of the world's first regenerative copper mines and carbon neutral by 2038. Its Feasibility Study results were announced in the press release dated October 7, 2025.McEwen also recently purchased 27.3% of Paragon Advanced Labs Inc., a newly listed public company that is deploying PhotonAssay™ units around the world, a technology that the Company believes is poised to become the new industry standard for assaying precious and base metals, with Paragon aiming to be one of the leading service providers.Chairman and Chief Owner Rob McEwen has invested over US$250 million personally and takes a salary of $1 per year, aligning his interests with shareholders. He is a recipient of the Order of Canada, a member of the Canadian Mining Hall of Fame and a winner of the EY Entrepreneur of the Year (Energy) award. His objective is to build MUX's profitability, share value and eventually implement a dividend policy, as he did while building Goldcorp Inc.McEwen Contact Info and Social Media WEB SITE SOCIAL MEDIA www.mcewenmining.com McEwenFacebook:facebook.com/mceweninc LinkedIn:linkedin.com/company/mcewenincCONTACT INFORMATION X:X.com/mceweninc150 King Street West Instagram:instagram.com/mcewenincSuite 2800, PO Box 24 Toronto, ON, Canada McEwenCopperFacebook:facebook.com/ mcewencopperM5H 1J9 LinkedIn:linkedin.com/company/mcewencopper X:X.com/mcewencopperRelationship with Investors: Instagram:instagram.com/mcewencopper(866)-441-0690 - Toll free (647)-258-0395 Rob McEwenFacebook:facebook.com/mcewenrobMihaela Iancu ext. 320 LinkedIn:https://www.linkedin.com/in/robert-mcewen-646ab24info@mcewenmining.com X:X.com/robmcewenmux Neither the NYSE, TSX or CSE have reviewed and do not accept responsibility for the adequacy or accuracy of the contents of this news release, which has been prepared by the management of McEwen and Golden Lake.Forward-Looking StatementsThis news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements.In this news release, forward-looking statements relate to, among other things, statements regarding: the timing of delisting of shares of Golden Lake from the CSE, Golden Lake ceasing to be a reporting issuer, goals to have Los Azules copper become one of the world's first regenerative copper mines and achieve carbon neutrality by 2038, and the objectives for McEwen. These forward-looking statements are not guarantees of future results and involve risks and uncertainties that may cause actual results to differ materially from the potential results discussed in the forward-looking statements. See McEwen Inc.'s Annual Report on Form 10-K for the fiscal year ended December 31, 2025, and other filings with the Securities and Exchange Commission, under the caption "Risk Factors", for additional information on risks, uncertainties and other factors relating to the forward-looking statements and information regarding McEwen.McEwen and Golden Lake expressly disclaim any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.Qualified PersonTechnical information pertaining to the Gold Bar Complex exploration contained in this press release has been prepared under the supervision of Robert Kastelic, MSc, CPG, Exploration Manager for McEwen Inc. in Nevada, and Luke Willis, P.Geo, Director of Resource Modelling for McEwen Inc., who are Qualified Persons (QPs) as defined by SEC S-K 1300 and Canadian Securities Administrators National Instrument 43-101 "Standards of Disclosure for Mineral Projects. Technical information disclosed in this news release pertaining to the historic Jewel Ridge drilling was reviewed and approved by Don Hoy, P. Geo., who serves as a Qualified Person as defined under National Instrument 43-101 for Golden Lake Exploration Inc.Historical References for Exploration Drilling at Jewel RidgeGolden Lake press release of March 23, 2022Golden Lake corporate website SOURCE: Golden Lake Exploration Inc.View the original press release on ACCESS NewswireOriginal: McEwen Inc. and Golden Lake Exploration Inc. Announce Closing of Arrangement
CA Market News
1月前
Golden Lake Announces Closing Date of April 30, 2026 for Arrangement with McEwen Inc.April 23, 2026 6:25 PM
ACCESS NewswireVANCOUVER, BC / ACCESS Newswire / April 23, 2026 / Golden Lake Exploration Inc. ("Golden Lake" or the "Company") (CSE:GLM)(OTC PINK:GOLXF) is pleased to announce that, further to its news release dated January 28, 2026, the Company and McEwen Inc. (NYSE: MUX) (TSX: MUX) ("McEwen") have set the closing date for the statutory plan of arrangement (the "Arrangement") under the Business Corporations Act (British Columbia) pursuant to which McEwen will acquire all of the issued and outstanding shares of the Company as April 30, 2026 (the "Closing Date").Under the terms of the Arrangement, each Golden Lake common share (a "Golden Lake Share") would entitle its holder to receive (the "Exchange Ratio") 0.003876 McEwen common shares (each, a "McEwen Share") on the Closing Date. In addition, pursuant to the terms of the Arrangement, all outstanding common share purchase warrants of Golden Lake on the Closing Date (the "Golden Lake Warrants") will be cashlessly exercised and cancelled in exchange for Golden Lake Shares having a value equal to their in-the-money amount, and (ii) all outstanding convertible notes of Golden Lake on the Closing Date (the "Golden Lake Notes") will be converted into Golden Lake Shares based on principal and accrued interest in accordance with their terms. All issued and outstanding Golden Lake Shares on the Closing Date (including the Golden Lake Shares issued to holders of Golden Lake Warrants and holders of Golden Lake Notes) will be exchanged for McEwen Shares on the basis of the Exchange Ratio. Outstanding stock options of Golden Lake on the Closing Date will be exchanged for replacement options of McEwen on an equivalent economic basis, with adjusted exercise prices, exercisable within 90 days following the closing of the Arrangement, in accordance with the terms of Golden Lake's stock option plan.About Golden LakeGolden Lake Exploration is a junior public mining exploration company engaged in the business of mineral exploration and the acquisition of mineral property assets.For Further Information, Please Contact:Mike England
CEO & Director
Golden Lake Exploration Inc.
1-888-945-4770Neither the NYSE, TSX or CSE have reviewed and do not accept responsibility for the adequacy or accuracy of the contents of this news release, which has been prepared by the management of McEwen and Golden Lake.Cautionary Statement Regarding Forward-Looking Information.This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements.In this news release, forward-looking statements relate to, among other things, statements regarding: the Arrangement; the Closing Date; and treatment of securities in connection with the Arrangement. These forward-looking statements are not guarantees of future results and involve risks and uncertainties that may cause actual results to differ materially from the potential results discussed in the forward-looking statements.In respect of the forward-looking statements concerning the Arrangement and the anticipated timing for completion of the Arrangement including, McEwen and Golden Lake have relied on certain assumptions that they believe are reasonable at this time. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these times.Risks and uncertainties that may cause such differences include but are not limited to: the risk that the Arrangement may not be completed on a timely basis, if at all; the conditions to the consummation of the Arrangement may not be satisfied; the risk that the Arrangement may involve unexpected costs, liabilities or delays; the possibility that legal proceedings may be instituted against the McEwen, Golden Lake and/or others relating to the Arrangement and the outcome of such proceedings; the possible occurrence of an event, change or other circumstance that could result in termination of the Arrangement; risks relating to the failure to obtain necessary court or other approvals; other risks inherent in the mining industry. Failure to obtain the requisite approvals, or the failure of the parties to otherwise satisfy the conditions to or complete the Arrangement, may result in the Arrangement not being completed on the proposed terms, or at all. In addition, if the Arrangement is not completed, the announcement of the Arrangement and the dedication of substantial resources of McEwen and Golden Lake to the completion of the Arrangement could have a material adverse impact on each of McEwen's and Golden Lake's share price, its current business relationships and on the current and future operations, financial condition, and prospects of each McEwen and Golden Lake.Golden Lake expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.SOURCE: Golden Lake Exploration Inc.View the original press release on ACCESS NewswireOriginal: Golden Lake Announces Closing Date of April 30, 2026 for Arrangement with McEwen Inc.
CA Market News
3月前
Golden Lake Announces Securityholder Approval of Arrangement with McEwen Inc.March 19, 2026 1:35 AM
ACCESS NewswireVANCOUVER, BC / ACCESS Newswire / March 19, 2026 / Golden Lake Exploration Inc. ("Golden Lake" or the "Company") (CSE:GLM)(OTCQB:GOLXF) is pleased to announce that at an annual general and special meeting (the "Meeting") of its shareholders, warrantholders and noteholders (collectively, the "Securityholders") held on March 18, 2026, the Securityholders overwhelmingly approved the special resolution authorizing the previously announced business combination with McEwen Inc. (NYSE:MUX)(TSX:MUX) ("McEwen") to be completed by way of statutory plan of arrangement (the "Arrangement") under the Business Corporations Act (British Columbia).The Arrangement was approved by (i) 99.64% of the votes cast by shareholders present in person or represented by proxy at the Meeting, voting as a class, and (ii) by 99.73% of the votes cast by the Securityholders present in person or represented by proxy at the Meeting, voting as a class. The total votes cast in favour of the Arrangement represented approximately 39% of Golden Lake's total issued and outstanding common shares.Under the terms of the arrangement agreement dated January 27, 2026 between Golden Lake, McEwen and Timberline Resources Corporation (the "Arrangement Agreement"), which was negotiated at arms-length, each Golden Lake common share (a "Golden Lake Share") would entitle its holder to receive (the "Exchange Ratio") 0.003876 McEwen common shares (each, a "McEwen Share"). In addition, pursuant to the terms of the Arrangement, all outstanding common share purchase warrants of Golden Lake (the "Golden Lake Warrants") will be cashlessly exercised and cancelled in exchange for Golden Lake Shares having a value equal to their in-the-money amount, and (ii) all outstanding convertible notes of Golden Lake (the "Golden Lake Notes") will be converted into Golden Lake Shares based on principal and accrued interest in accordance with their terms. All issued and outstanding Golden Lake Shares (other than those held by McEwen or dissenting shareholders but including the Golden Lake Shares issued to holders of Golden Lake Warrants and holders of Golden Lake Notes) will be exchanged for McEwen Shares on the basis of the Exchange Ratio. Outstanding stock options of Golden Lake will be exchanged for replacement options of McEwen on an equivalent economic basis, with adjusted exercise prices, exercisable within 90 days following the closing of the Arrangement, in accordance with the terms of Golden Lake's stock option plan.Golden Lake anticipates attending the British Columbia Supreme Court on or about March 23, 2026 to obtain the final order of the Court.Completion of the Arrangement remains subject to the satisfaction of customary conditions applicable to transactions of this nature, including receipt of requisite court and stock exchange approvals. If all necessary approvals are obtained and the conditions to the Arrangement are met or waived, the Arrangement is anticipated to close on or about March 27, 2026.About Golden LakeGolden Lake Exploration is a junior public mining exploration company engaged in the business of mineral exploration and the acquisition of mineral property assets.For Further Information, Please Contact:Mike England
CEO & Director
Golden Lake Exploration Inc.
1-888-945-4770Neither the NYSE, TSX or CSE have reviewed and do not accept responsibility for the adequacy or accuracy of the contents of this news release, which has been prepared by the management of McEwen and Golden Lake.Cautionary Statement Regarding Forward-Looking Information.This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements.In this news release, forward-looking statements relate to, among other things, statements regarding: the Arrangement; the Arrangement Agreement; the receipt of necessary court and regulatory approvals for the Arrangement; the anticipated timeline for approvals and completing the Arrangement; the terms and conditions pursuant to which the Arrangement will be completed, if at all; and the anticipated benefits of the Arrangement. These forward-looking statements are not guarantees of future results and involve risks and uncertainties that may cause actual results to differ materially from the potential results discussed in the forward-looking statements.In respect of the forward-looking statements concerning the Arrangement and the anticipated timing for completion of the Arrangement including, McEwen and Golden Lake have relied on certain assumptions that they believe are reasonable at this time, including assumptions as to the ability of the parties to receive, in a timely manner and on satisfactory terms, the necessary regulatory, court, stock exchange and other third party approvals and the ability of the parties to satisfy, in a timely manner, the other conditions to the completion of the Arrangement. This timeline may change for a number of reasons, including inability to secure necessary regulatory, court, stock exchange or other third-party approvals in the time assumed or the need for additional time to satisfy the other conditions to the completion of the Arrangement. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these times.Risks and uncertainties that may cause such differences include but are not limited to: the risk that the Arrangement may not be completed on a timely basis, if at all; the conditions to the consummation of the Arrangement may not be satisfied; the risk that the Arrangement may involve unexpected costs, liabilities or delays; the possibility that legal proceedings may be instituted against the McEwen, Golden Lake and/or others relating to the Arrangement and the outcome of such proceedings; the possible occurrence of an event, change or other circumstance that could result in termination of the Arrangement; risks relating to the failure to obtain necessary court or other approvals; other risks inherent in the mining industry. Failure to obtain the requisite approvals, or the failure of the parties to otherwise satisfy the conditions to or complete the Arrangement, may result in the Arrangement not being completed on the proposed terms, or at all. In addition, if the Arrangement is not completed, the announcement of the Arrangement and the dedication of substantial resources of McEwen and Golden Lake to the completion of the Arrangement could have a material adverse impact on each of McEwen's and Golden Lake's share price, its current business relationships and on the current and future operations, financial condition, and prospects of each McEwen and Golden Lake.Golden Lake expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.SOURCE: Golden Lake Exploration Inc.View the original press release on ACCESS NewswireOriginal: Golden Lake Announces Securityholder Approval of Arrangement with McEwen Inc.
Sam Dan
5年前
Todays news reveals significant gold, silver presence in the
6 new core assays. Looks like we have a GOLD MINE in the making!!
But much more drilling to follow.
" ("GLM" or the "Company") reports today a summary and detailed assay results from six additional diamond drill holes of the ongoing Phase 2 program on the "Eureka Target" on the company's keystone Jewel Ridge gold property located near the town of Eureka, Nevada. All six holes have intersected a robust zone of "Carlin-style", oxide, significant gold mineralization in carbonates with the best intercept (based gold grade x thickness in meters) in hole JR-21-21DD which returned 39 meters from the collar averaging 1.07 g/t Au and 2.2 g/t Ag and the average over the six holes being 36 meters in thickness grading 0.81 grams gold per tonne (g/t Au) and 2.1 grams silver per tonne (g/t Au). To date, all intercepts of the Eureka Target start at surface, or at shallow depths and are targets for open-pit, heap-leachable gold operations. Hole JR-21-17DD intersected the thickest zone of gold mineralization at 47.9 meters averaging 0.42 g/t Au and 1.2 g/t Ag and returned anomalous gold values (+0.30 g/t Au) for a plus 110-meter interval.
Table 1 SUMMARY OF DRILL RESULTS - EUREKA TARGET, JEWEL RIDGE PROPERTY, EUREKA COUNTY, NV
Mike England, Golden Lake CEO, states, "We have followed up our initial drill results with very strong numbers demonstrating that we have hardly gotten started. Drilling on the Eureka Target on the Jewel Ridge Property continues to deliver significant intervals of oxide gold mineralization, with six impressive intercepts in all six holes reported. Our team at Jewel Ridge continues to expand the footprint of the near-surface Carlin-style mineralization. Drilling and geological mapping also continues on the property directed at the high-grade bonanza CRD mineralization. The large gold halo (+100 meter thickness) in hole JR-21-17DD, open to the north and north-east, represents an exploration target with significant tonnage potential. Activity, including drilling, will continue on the property throughout the fall."
Highlights
Diamond drilling continues on the Eureka Target on the north-central portion of the Jewel Ridge property, with drilling currently active on hole JR-21-28 DD. All holes have been core drilled. To date, 14 holes have been drilled as part of the Phase 2 program, comprising 2,710 meters (8,890 ft).
Hole JR-21-17DD is the most northern located hole with assays received and although lower in grade, it exhibits a much thicker zone (+110 meters) of anomalous gold mineralization than previously indicated on the Jewel Ridge property. From the collar at surface, to a depth of 110.3 meters, the Upper Mineralized one ("UMZ") averaged 0.32 g/t Au and 1.1 g/t Ag. Higher grade intervals included 25.5 meters averaging 0.54 g/t Au and 1.6 g/t Ag from a depth of 39.0 meters, and 7.0 meters averaging 0.54 g/t Au and 0.9 g/t Ag from a depth of 79.9 meters. In addition, hole JR021-17DD intersected the Lower Mineralized Zone ("LMZ") returning 0.55 g/t AU and 3.2 g/t Ag over 5.1 meters from a depth of 255.1 meters.
Based on drilling to date, the disseminated, "Carlin-style", oxide mineralization appears as a tabular zone, varying from 25 to 45 meters in thickness (with potential for +100 meters thickness), dipping shallowly to the east, and north-east. The Carbonate Replacement Deposit ("CRD") bonanza mineralization intersected in hole JR-20-12DD occurs within the disseminated oxide gold mineralized zone, and in places below it. Hole JR-21-22DD intersected a narrow (0.7 meter) CRD intercept approximately 7.2 meters below the UMZ which returned 0.94 g/t Au, 14.5 g/t Ag and 0.24% lead (Pb) and 0.78 % zinc (Zn). The delineation of the CRD targets are complicated by more extensive underground workings in the Eureka Target area than was previously known, with several holes terminated by encountering these underground workings.
SUMMARY OF DRILL HOLES JR-21-DD17 DD to JR-21-225DD (detailed assays on the Company website)
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 Paragon Geochemical in Sparks, 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 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.
Qualified person
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 43-10we could see 1."
If the 43101 final estimates are this good we could see Barrick Gold calling !!
Sam Dan
5年前
MANAGEMENT RELEASES ASSAYS OF GRAB SAMPLES OF THE BRITISH COLUMBIA MINERAL PROJECT, AS PROMISED.
RESULTS SHOW PROMISE OF POSSIBLE MULTI-MINERAL PRESENCE THAT INVITES FURTHER EXPLORATION.
" ("GLM" or the "Company") is pleased to announce initial results from samples taken at its Copperview Property, located in BC and contiguous to the "MPD Property" owned by Kodiak Copper Corp. ("Kodiak") (KDK). Recently collected surface grab subcrop samples from the Deadman Lake target, on the West Copperview claims, have returned high grade silver values of up to 9,920 grams per tonne silver (g/t Ag) and 5,900 g/t Ag. These samples correspondingly returned 0.95 percent copper (% Cu), 2.45 percent lead (% Pb), and 1.28 percent zinc (% Zn) and 0.94%Cu, 4.33% Pb, and 1.82% Zn.
The above two grab samples represent subcrop material, were taken from old, partially collapsed bulldozer trenches that most likely represent the Mob-8 Minfile showing (Minfile 092HNE154, BC government designation). A total of 57 rock samples were taken over the Deadman Lake area of the West Copperview claims. In addition, 230 soil samples were taken over the same area, with assay results pending.
The Mob 8 showing is exposed in the vicinity of a gas pipeline, 520 metres north of the north end of Prosser Lake and 7.8 kilometres southwest of Missezula Lake. A west-striking shear zone, dipping 25 degrees south, cuts granite and quartz monzonite of the Late Triassic to Early Jurassic Allison Lake pluton. The zone is 2 metres wide and contains small quartz-carbonate lenses accompanied by pyrite, galena, argentite, azurite, malachite, chalcopyrite and tetrahedrite. A selected grab sample assayed trace gold, 25,852 grams per tonne silver (g/t Ag) and 8.06 per cent copper (% Cu)* (Assessment Report 5082, page 5). A chip sample across the shear zone analyzed 145.9 g/t Ag, 0.04 % Cu, 0.630 per cent lead (% Pb) and 0.41 per cent zinc (% Zn)* (Assessment Report 13603, page 6)….A quartz vein, 5 to 15 centimetres wide, is developed in the hanging wall of the shear zone. It strikes north and dips steeply west. The vein is mineralized with galena, chalcopyrite, chalcocite and malachite. A sample analyzed 858.2 g/t Ag, 0.862 % Cu, 2.589% Pb, and 1.473 % Zn * (Assessment Report 13603, page 6).
Chalcopyrite and pyrite occur in dark, fine-grained diorite 90 metres west and 120 metres east of the shear zone. One hundred and twenty metres to the north, chalcopyrite and bornite occur in epidote-filled fractures."
Figure 1. Location map of the MOB - 8 Showing and MT Mobile Geophysical Survey
The reader is cautioned that grab rock samples while not representative of the grade of mineralization of an occurrence or target, they are useful in determining prospectivity and geological features. The above rock samples were taken by personnel of Exploration Facilitation Unlimited Inc. and were delivered by the company's project manager to ALS Labs' facility in North Vancouver, B.C. All samples are analyzed for copper, gold, silver and 31 other elements. Gold is determined by ALS method Au-AA23, which is a fire assay with an atomic absorption spectroscopy finish on a 30-gram split. Copper, silver and the remaining 31 elements are determined by ALS method ME-ICP61, which is a four-acid digestion and inductively coupled plasma atomic emission spectroscopy assay. Golden Lake is reliant on ALS in North Vancouver, for its quality assurance/quality control protocol, as these are preliminary samples and limited in number.
Sample R-2242 comprised gossan material (baked appearance), with significant green and blue malachite oxide and thinly layered sulphides, and large quartz crystals and quartz vein material. Sample R-2243 comprised diorite gossan, with malachite and sulphides observed.
SAMPLE R-2242
Mike England, president of Golden Lake, states: "We have remained very active advancing our programs and defining targets on our Copperview properties in this emerging copper-gold porphyry district. The discovery of a high-grade silver showing, and multiple geophysical and geochemistry anomalies represent strong drill targets for the Company when permitting is completed."
The Company will be returning to the location of samples R-2242 and R-2243 with field crews in late September to conduct additional hand trenching, geological mapping, sampling and prospecting with a portable XRF instrument. Efforts will also focus on the rediscovery of three other Minfile showings in the Deadman Lake Area."
Sam Dan
5年前
While most shareholders of GLM wait anxiously for assay results from Nevada the almost forgotten BC project announces possibly interesting resultsfrom sampling completed and out or assay!!
"/b] (“GLM” or the “Company”) is pleased to provide an update of activities on the Copperview Property, located contiguous to the north, south, and west of the “MPD Property” owned by Kodiak Copper Corp. (“Kodiak”) (TSX-V: KDK). Field activities have continued over the summer including soil and rock geochemistry, a MT Mobile geophysical airborne survey and prospecting and geological mapping.
Samples have been collected by an independent contractor team at the Mob-8 Minfile showing (Minfile 092HNE154, BC government designation) as well as a total of 57 rock samples taken over the Deadman Lake area of the West Copperview claims. In addition, 230 soil samples were taken over the same area, with assay results pending.
Mike England, president of Golden Lake, states: "While drilling and sampling is ongoing at our flagship Jewel Ridge project in Nevada we have also been advancing our Copperview project in BC. We are eager to receive further results from Jewel Ridge as well as results from ongoing Copperview programs imminently.”
Expert Geophysics Limited (EGL) conducted a helicopter-borne MobileMT electromagnetic and magnetic survey in June 2021 over the Company’s North Copperview and South Copperview claims. The purpose of the survey was mapping bedrock structure and lithology, including possible alteration and mineralization zones, observing apparent conductivity corresponding to different frequencies, inverting EM data to obtain the distribution of resistivity with depth, and using VLF EM and magnetic data to study properties of the bedrock units. A total of 9 production flights were flown to complete 1072 line-kilometers of the survey over two blocks; North Block with 770 line-kilometers of the survey over a 155 sq.km area; South Block with 302 line-kilometers of the survey over a 115 sq.km area.
The MobileMT data is continuing to being reviewed and assessed by the Company’s contract geophysicist, however two significant targets have been identified on the North Copperview claims, the Conglin Creek Target and the Vinson Lake target.
The Conglin Creek Minfile showing area covers a strong magnetic high anomaly with a resistivity low and conductivity high, southwest and southeast of Missezula Lake. The Conglin Creek Minfile showing is located approximately 6 kilometers northwest of the Gate and Prime zones on Kodiak's MPF property. A soil geochemistry survey completed by the Company returned copper-in-soils values up to 345 parts per million (“ppm”) and anomalies (defined by 100 and 200 ppm Cu) correlate well with historic soil survey over the same area. Additional historic geochemical data was also compiled from the 1990s and the strong copper-in-soil anomaly has a strike length of greater than 3 kilometers and is open to the south-east. The Conglin Creek geochemical and geophysical anomalies will be high priortargets for diamond drilling.
Vinson Lake Target
On the south-eastern portion of the North Copperview claims, the MTMobile geophysics has indicated a arcuate, north-east-trending, low resistivity anomaly with excellent depth continuity, coincident with a distinct magnetic low feature. A compilation of assessment data indicated scattered gold and copper soil anomalies in the area south and east of Vinson Lake. Recently the company has completed prospecting, geological mapping, and soil geochemistry over the geophysical anomalies and assays are pending"
Sam Dan
5年前
My first comment on todays news is if the the bonanza hole
report had not been revealed would we or should we be impressed by todays revelations?
I think so but would like further speculation.
("GLM" or the "Company") (OTCQB:GOLXF) today reported assay results from the first three diamond drill holes of the Phase 2 program on the Eureka Target on the company's keystone Jewel Ridge gold property located near the town of Eureka, Nevada. Two types of mineralization have been identified on the Eureka Target, included a tabular, shallow dipping zone of "Carlin-style" mineralization intersected in several recent drill holes, and the recently discovered Carbonate Replacement Deposit mineralization (see Press Release dated February 24, 2021 ). To date 7 hol es have been completed as drilling continues.
Highlights
Diamond drilling resumed on the Jewel Ridge property on May 6, 2021, on hole JR-21-14DD.
To date, complete assays have been received for holes JR-21-14 DD, JR-21-15DD and JR-21-16DD (see table below). All three holes were collared close to (with 10 meters) of hole JR-20-12DD to determine the dip of the CRD zone and to test the width and continuity of the Carlin-style mineralization. Hole JR-21-14DD was drilled to the southwest at -45 degrees and was lost at 37.2 meters. Hole JR-21-15 DD was drilled to the southwest at -70 degrees and ended at 175.3 meters. Hole 21-16DD was drilled at -70 degrees in a northeast direction to a depth of 201.8 meters.
In hole JR-21-16DDthe mineralized zone extends from 6.86 meters to 25.54 meters, over a core width of 18.68 meters averaging 5.85 g/t Au, 18.3 g/t Ag, 0.38 % Pb and 1.28 % Zn. A CRD section from a depth of 18.78 meters within this interval returned 1.98 meters averaging 5.93 g/t Au, 111.2 g/t Ag, 2.83 % Pb and 3.50 % Zn. A unit of jasperoid mineralization within the Carlin-style portion of the interval from a depth of 10.68 meters, over a width of 8.09 meters averaged 8.93 g/t Au, 9.4 g/t Ag, 0.12 % Pb, and 1.72 % Zn.
Based on these initial results the CRD zone appears to be steeply dipping in a north-easterly direction, and the Carlin mineralization is a tabular zone, striking North-North-west with a shallow dip to the east.
As reported in our February 24, 2021 Press Release, the Carbonate Replacement Deposit ("CRD") bonanza mineralization returned 3.23 meters averaging 57.16 grams gold per tonne (g/t Au), 452.0 grams silver per tonne (g/t Ag), 7.23 percentage lead (% Pb) and 11.99 percentage zinc (% Zn). This high-grade interval in hole JR-20-12DD (vertical hole) was within a wider zone (combined with Carlin style mineralization) that averaged 9.16 g/t Au, 65.8 g/t Ag. 1.03 % Pb, and 1.90 % Zn over a drill interval of 24.54 meters.
Mike England, CEO, states, "These drill results are very encouraging for the continuation of the near-surface Carlin-style mineralization and represent early confirmation of the high-grade bonanza CRD mineralization. In addition to diamond drilling, a program of surface and underground geological mapping and sampling is also in progress. We believe the discovery of the high-grade "bonanza" CRD zone represents a significant "game-changer" for the property and the Company".
DRILL HOLE JR-21-DD14, JR-21-15DD, and JR-21-16DD SUMMARY
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 Paragon Geochemical in Sparks, 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 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.
Sam Dan
5年前
Next couple of weeks could be most revealing regarding the value of the Nevada project. Assays from further drilling will tell us the true story. ALL fingers crossed.
"Company") (GOLXF-OTCQB) today reported on exploration activities on the company's keystone Jewel Ridge gold property located near the town of Eureka, Nevada.
Highlights
• Diamond drilling resumed on the Jewel Ridge property on May 6, 2021, on hole JR-21-14DD. To date six holes have been completed (JR-21-14DD to JR-21-19DD) comprising 3,125 ft (952.5 meters). Drilling has focused on the Eureka Target on the northern portion of the property.
• Assays for the first three holes (JR-21-14DD to JR-21-16DD) are expected within 7-10 days and will be reported when available.
• Two types of mineralization have been identified on the Eureka Target, included a tabular, shallow dipping zone of "Carlin-style" mineralization intersected in several recent drill holes, and the recently discovered (see Press Release dated February 24, 2021) Carbonate Replacement Deposit ("CRD" bonanza mineralization which returned 3.23 meters averaging 57.16 grams gold per tonne (g/t Au), 452.0 grams silver per tonne (g/t Ag), 7.23 percentage lead (% Pb) and 11.99 percentage zinc (% Zn). This high-grade interval in hole JR-20-12DD (vertical hole) was within a wider zone (combined with Carlin style mineralization) that averaged 9.16 g/t Au, 65.8 g/t Ag. 1.03 % Pb, and 1.90 % Zn over a drill interval of 24.54 meters.
• The Company has engaged EM Strategies, based in Reno, Nevada, for preparation and submission to the Bureau of Land Management ("BLM"), a comprehensive "Plan of Operation" ("PoO") over most of the Jewel Ridge property. The Jewel Ridge PoO represents a significant stage and asset for the company, as the baseline studies completed (biological, hydrological, and archeological) will be essential for any future development of a gold deposit on the Property. The PoO over the Property, and the larger disturbance allowance, will give the Company more flexibility in planning and permitting future drill sites. After the baseline study reports have been approved by the BLM, EM Strategies will submit the complete Plan to the BLM and Nevada Division of Environmental Protection (NDEP) Bureau of Mining Regulation and Reclamation (BMRR), which will include a description of the planned exploration activities and reclamation plan.
• The Company has recently completed a Lidar ("light detection and ranging) survey a remote sensing method that uses light in the form of a pulsed laser to measure ranges (variable distances) to generate precise, three-dimensional information about the surface characteristics of the project ground. The survey was completed by GSP Consulting / Synergy Mapping of Sparks, Nevada and the final product is expected within two weeks. The Lidar survey will be useful given the rugged and variable topography on the property and the multitude of historical workings and disturbances.
Mike England, CEO, states, "Since resuming drilling in early May we have made excellent progress advancing the exploration program on the Jewel Ridge Property. We are looking forward to receiving the first assays from the Phase 2 drill program shortly. In addition to diamond drilling, a program of surface and underground geological mapping and sampling is also in progress".
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 and surface samples are being assayed and samples have been securely shipped and received by Paragon Geochemical in Sparks, 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 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.
Qualified person
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 LakeLake 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.
Sam Dan
5年前
Signifigant approval ruling by Nevada BLM as they are notorious for lengthy considerations, so this is welcome timing.
"("GLM" or the "Company")(OTCQB:GOLXF) is pleased to announce it has received approval from the BLM for its near-term proposed exploration and drill plan under a "Notice of Intent" ("NOI"), which is limited to five acres of surface disturbance. EM Strategies, based in Reno, Nevada, assisted with the application. The planned surface disturbance included under this Notice consists of constructed drill sites including sumps, improvements to existing roads, and overland travel routes, with planned surface disturbance of approximately 2.49 acres, in the Eureka Tunnel target area. Under the Notice the Company has proposed 35 drill sites. The Eureka Tunnel target covers the carbonate replacement deposit (CRD) bonanza mineralization intersected in hole JR-20-12DD which returned from 15.21 metres to 18.44 metres returned 3.23 metres averaging 57.16 grams per tonne (g/t) gold (Au), 452.0 g/t silver (Ag), 7.23 per cent lead (Pb) and 11.99 per cent zinc (Zn) (see Press Release, February 23rd, 2021).
Mike England, CEO, stated "Securing approval to drill on BLM land is a significant outcome for GLM as the BLM lands are very proximal to our Bonanza hole announced in February. This considerably enhances the opportunities we are pursuing at the Jewel Ridge Project. With drilling underway this immediately gives us the freedom to drill any and all targets plotted to date in the area. Samples from the first two holes have been submitted to the laboratory for analysis."
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."
Sam Dan
5年前
The release of drill results must be kept very securely as positive reports will blast the share price much higher.
my comments "
Your absolutely right! Must have security over the assay results- assuming they are as positive as last reported assays. I am a firm believer that "visuals" are NOT reliable. the ASSAY reports tell the real story. premature tales of visuals tend to come from drill crews and can get people reporting results that cannot be reliable.
If the assays confirm what the bonanza report infdicates we will have a great summer!!
" ("GLM" or the "Company")(OTCQB:GOLXF) is pleased to announce that a Phase 2 diamond drill program has started on its keystone Jewel Ridge project, near Eureka, Nevada. The drill contractor is Big Sky Exploration, LLC, based in Bozeman, Montana, and supervision and support are supplied by a team of consulting and Company geologists and technicians. The proposed drill program of 20,000 feet (6,100 meters) will be augmented with a second rig later in the summer. The initial drill holes will be directed at the Carbonate Replacement Deposit ("CRD") bonanza mineralization intersected in hole JR-20-12DD which returned from 15.21 meters to 18.44 meters returned 3.23 meters averaging 57.16 g/t Au, 452.0 g/t Ag, 7.23 % Pb, and 11.99% Zn (see PRD dated Feb 23, 2021).
Subsequent targets will include the Hamburg Zone where drilling last year returned a wide zone of mineralization in holes JR-20-02 from 123.44 to 181.36 meters, over 57.91 meter in width (drill width) averaging 0.44 g/t Au and 3.0 g/t Ag, with a higher-grade portion from 152.40 to 169.16 meters, over 16.76 meters averaging 0.94 g/t Au and 6.6 g/t Ag.
Also, at the Hamburg Zone a CRD intercept drilled in a 2012 program has never been followed up by diamond drilling. Reverse circulation ("RC") JR-12-06, from 15.2 to 18.2 meters, over 3.0 meters returned 1.1 g/t Au, 601.0 g/t Ag, 8.8 % Pb, and 4.7 % Zn.
"We are excited to have the drills turning again on our Jewel Ridge property and are looking forward to testing the bonanza mineralization we intersected last fall." stated CEO Mike England.
Qualified person
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 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."
Sam Dan
5年前
First week in May starts drilling on the major project for GLM. Verification of major find will make this company!
"(CSE:GLM) ("GLM" or the "Company")(GOLXF:OTCQB) is pleased to announce it has engaged Big Sky Exploration, LLC, based in Bozeman, Montana, for the upcoming core drill program at its Jewel Ridge project, Nevada.
Negotiations are underway with a second drill to join the program in Q2 of 2021.
"We are very pleased to have secured Big Sky for our upcoming program at Jewel Ridge set to commence the first week of May. Our objectives will be to follow up on last season's core drilling success and to begin testing numerous other targets also defined." stated CEO Mike England.
Golden Lake will embark on a 20,000-foot core drilling campaign to follow up and begin delineating the size extent of drill hole JR-20-DD12 which intersected from surface an intercept of 24.54 meters returning 9.16 grams gold per tonne (g/t Au), 65.8 grams silver per tonne (g/t Ag), 1.03 percentage lead (% Pb), and 1.90 percentage zinc (% Zn)including a higher "bonanza" grade portion from 15.21 meters to 18.44 meters returned 3.23 meters averaging 57.16 g/t Au, 452.0 g/t Ag, 7.23 % Pb, and 11.99% Zn (see PRD dated Feb 23, 2021). Surface sampling of the South Eureka target area returned very similar mineralization averaging 3.43 Au, 196.3 g/t Ag, 8.8% Zn and 0.88% Pb (see Company PR dated Feb 1, 2021) and will also be a focus of the upcoming diamond drill program. This sample area is located approximately 125 meters from the collar of hole JR-20-DD12, and on-trend, and interpreted as the south-west extension of the Northeast Eureka Zone.
The Company further announces it has set 100,000 options at $0.45 to a Director of the Company.
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.
Sam Dan
5年前
WE HAVE A WINNER!!
"Golden Lake Exploration Inc. has discovered a high-grade (gold-silver-lead-zinc) mineralized oxide zone in diamond drill hole JR-20-DD12, completed in November, 2020, on the Northeast Eureka target on the company's keystone Jewel Ridge gold property located near the town of Eureka, Nev. From surface an intercept of 24.54 meters was intersected returning 9.16 grams gold per tonne (g/t Au), 65.8 grams silver per tonne (g/t Ag), 1.03 percentage lead (% Pb), and 1.90 percentage zinc (% Zn). This intercept is hosted in Hamburg Dolomite and comprises both Carlin-type and CRD -type ("Carbonate Replacement Deposits") oxide mineralization.
A higher "bonanza" grade portion from 15.21 meters to 18.44 meters returned 3.23 meters averaging 57.16 g/t Au, 452.0 g/t Ag, 7.23 % Pb, and 11.99% Zn. This "bonanza" intercept is interpreted by the Company geologists as similar to the historic Ruby Hill mines and can be described as an oxidized carbonate-hosted, structurally and lithologically controlled gold-silver (with associated lead-zinc) mineralization. The Jewel Ridge property hosts over a dozen past producing mines and prospects over a 4-kilometer strike on the Dunderberg-Windfall Belt, most worked in the late 1800's for gold, silver and lead, from shallow oxide deposits.
Recently announced surface sampling of the South Eureka target area returned very similar mineralization averaging 3.43 Au, 196.3 g/t Ag, 8.8% Zn and 0.88% Pb (see Company PR dated Feb 1, 2021) and will become a focus of an upcoming diamond drill program. This sample area is located approximately 125 meters from the collar of hole JR-20-DD12, and on-trend, and interpreted as the south-west extension of the Northeast Eureka Zone.
"Given our successful efforts to date we anticipated positive results, but this hole has definitely exceeded our highest expectations. We are excited to aggressively continue our work program to define and expand the targets identified in 2020 by drilling, rock and soil geochemistry, magnetics and Induced Polarization geophysics and structural mapping. Congratulations to our first-rate team of geologists and project managers." stated Mike England, CEO and President of Golden Lake. "The discovery of a high-grade "bonanza" zone is a great success and a "game-changer" for the property and the Company, and we await assays from one remaining core hole"
Sam Dan
5年前
[A FULL REPORT BY MANAGEMENT OF THE GOLD AND MINERAL PROJECTS OF GLM.
THEY ARE STILL WAITING FOR THE ASSAYS DRILLED IN THE FALL.
"GOLDEN LAKE REPORTS 303 G/T SILVER AND 11.2 G/T GOLD FROM SURFACE GRAB SAMPLES AT THE SOUTH EUREKA ZONE, JEWEL RIDGE PROPERTY, NEVADA
Golden Lake Exploration Inc. has released additional anomalous and significant silver and gold values from surface rock samples from several targets on the company's keystone Jewel Ridge gold property located near the town of Eureka, Nev.
"While we await assays from three diamond drill holes completed in November, the company is very encouraged to identify additional areas of widespread silver and gold mineralization over the Jewel Ridge property. The company is looking forward to an aggressive and expansive drill program (RC and core) in 2021 to define and expand the targets outlined in 2020 and to test the new targets identified by rock and soil geochemistry, magnetics and induce polarization geophysics, and structural mapping," stated Mike England, chief executive officer of Golden Lake.
Northeast Eureka target
The area northeast of the Eureka Tunnel portal was drilled by the company with five drill holes (four reverse circulation (RC) holes and one core hole (assays pending)). Highlights included RC hole JR-20-06 which intersected two zones of mineralization. An upper mineralized zone (UMZ) of 1.25 grams gold per tonne (g/t) gold (Au) and 5.5 g/t silver (Ag) over 16.76 metres was intersected from surface and a second, lower mineralized zone was intersected at a depth of 160 metres, averaging 1.48 g/t Au and 1.3 g/t Ag over 10.67 metres, hosted in dolomite. Similar to the UMZ, the lower-grade mineralization (halo mineralization) underlies this interval, with a wider zone returning 0.83 g/t Au and one g/t Ag over 21.34 metres from a depth of 160.02 metres. Hole RC-20-09 was the only hole on the east flank of the valley that was drilled to depth (190 metres) to test this mineralized horizon (holes RC-20-06, 07 and 08 were too shallow). The multiple stacked nature of the oxide gold mineralized horizons significantly enhances the tonnage potential of the Northeast Eureka zone in hole JR-20-09.
Surface sampling was conducted northeast of the company's drill holes, in an area of intense road building and shallow, historic drill holes over an area of 200 metres in a northeast direction by 160 metres wide. Many samples were retrieved from piles around historic RC holes that the company does not have data for. The results strongly indicate a continuation of the Northeast Eureka zone to the north and northeast. Silver and base metals values are markedly lower on samples from this target area and are interpreted to reflect Carlin-style, oxide gold mineralization. Additional sampling will be conducted with drilling to follow.
South Eureka target
The South Eureka target is centred approximately 230 metres due south of the Eureka Tunnel adit in a north-south-trending steeply incised valley. Diamond drill hole JR-20-DD13 (assays pending) tested this target. Four rock samples of highly oxidized, gossanous material from dumps and workings in the area have returned good gold, silver and base metal values indicative of carbonate replacement deposit (CRD) mineralization. The area is located just southwest of, and on trend with, the Northeast Eureka zone.
Hamburg mine target
The Hamburg mine target is located in the south-central portion of the Jewel Ridge property and represents both Carlin-type and CRD-type oxide gold mineralization hosted in the Hamburg dolomite at or near the contact with the Dunderberg shale. Three angled reverse circulation holes, comprising 548.64 metres, were completed by the company in 2020 with the best intercept in RC hole JR-20-02 of 0.936 g/t Au over 16.76 metres from a depth of 152.4 metres in the recent program. Significantly, holes JR-20-02 and JR-20-03 both intersected wide intercepts of anomalous gold values (defined as greater than 0.1 g/t Au). Hole JR-20-02 intersected 0.436 g/t Au over 57.91 metres from a depth of 123.44 metres and hole JR-20-03 returned 0.161 g/t Au over 106.7 metres from 73.2 metres. A total of seven rocks samples were collected north and northwest of the area drilled by the company to investigate determine the extent and style of the gold mineralization. All samples, except J-32, were in areas previously unsampled and no known drilling. These recent rock results are encouraging and indicate excellent potential for gold mineralization to continue to the northwest of the historic Hamburg mine and open pit. A program of soil geochemistry is proposed when weather permits to better define the gold mineralization followed by drilling.
West Eureka (Industry Tunnel mine) target
The West Eureka target is located on the west flank of the valley, approximately 200 metres southwest of the Eureka Tunnel adit. The target covers portions of the historic Industry Tunnel mine with extensive workings and dumps and no known drill holes. Many samples are extensively oxidized and the higher silver and associated base metals are characteristic of CRD mineralization.
While grab rock samples are not representative of the grade of mineralization of an occurrence or target, they are useful in determining prospectivity and geological features. The rock samples in an attached table were delivered by the company consulting geologist to the ALS prep facility in Elko, Nev. All samples are analyzed for copper, gold, silver and 31 other elements. Gold is determined by ALS method Au-AA23, which is a fire assay with an atomic absorption spectroscopy finish on a 30-gram split. Copper, silver and the remaining 31 elements are determined by ALS method ME-ICP61, which is a four-acid digestion and inductively coupled plasma atomic emission spectroscopy assay. Golden Lake is reliant on ALS Labs in Reno, Nev., for its quality assurance/quality control (QA/QC) protocol as these are preliminary samples and limited in number.
The company is awaiting assay results from three diamond drill core holes completed in November on the Eureka Tunnel area. Drilling on the Jewel Ridge property during 2020 comprised 10 RC holes (5,200 feet (1,585 metres)) and three diamond drill holes (1,236 feet (376.6 metres)). Planning is in progress for a spring 2021 drill program on multiple target areas on federal (BLM) and patented lands, with EM Strategies of Reno, Nev., engaged to lead the permitting process.
Drilling quality assurance and quality control statement
Procedures have been implemented to assure QA/QC of drill hole assaying is 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, Nev., 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. Assays are pending and will be reported when available.
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 thatresults on adjacent and/or nearby projects are not necessarily indicative of results on the company's property. /b]
Sam Dan
6年前
Encouraging assay results reported by the company. Of course further drilling needed to expand the find but hope is there.
Golden Lake Exploration Inc. (CSE:GLM) ("GLM" or the "Company")(OTCQB:GOLXF) is pleased to report further assay results from the summer drill program on the keystone Jewel Ridge gold property located near the town of Eureka, Nevada. A new, deeper elevation, mineralized zone was intersected in hole JR-20-09 at a depth of 160.0 meters, averaging 1.48 grams gold per tonne ("g/t Au") and 1.3 grams silver per tonne ("g/t Ag") over an interval of 10.67 meters. This represents a second mineralized horizon hosted in dolomite, in addition to the "Upper Mineralized Zone" that returned 1.25 g/t Au and 5.5 g/t Ag over 16.76 meters from surface in hole JR-20-09. These four holes wrap up the summer program results - assays are now pending from the most recent program announced October 20, 2020.
The Lower Mineralized Zone ("LMZ") intersection supports the geological model of a series of stacked, oxide, Carlin-type gold zones with a halo of mineralized material (above a projected 0.2-gram cut-off grade, 0.2 to 0.5 g/t Au range), in the Eureka Tunnel area, on the Jewel Ridge Property. Discovery of a stacked component of oxide gold mineralized horizons represents an attractive target for future drilling and significantly enhances the tonnage potential.
Eureka Tunnel Oxide Zone Drill Highlights
The Eureka Tunnel (aka South Eureka Tunnel) mine is located in the northwest quartile of the Jewel Ridge property, with the "Oxide Zone" (aka "Viking Zone") located east and north-east of the main portal. The Eureka Tunnel Oxide Zone comprises both Carlin-type and CRD -type ("Carbonate Replacement Deposits") oxide mineralization. A total of seven (7) Reverse-Circulation ("RC") drill holes were completed, comprising 1,048.57 meters, with assays for three vertical holes previously received (PR September 24, 2020), with a highlighted intercept of 2.80 g/t Au and 5.9 g/t Ag over 22.98 meters from surface. Highlights:
Upper Mineralized Zone ("UMZ") - the UMZ was consistently intersected in four holes, with intersections of higher-grade oxide gold mineralization over an average width of 21.34 meters, starting at surface, with a weighted average grade of 1.45 g/t Au and 4.8 g/t Ag. This target is open to the south, southwest, the northeast and north. All holes are vertical, and reported widths represent vertical intervals. Addition drilling is required to determine the true width of the mineralized zones.
Image: https://www.accesswire.com/users/newswire/images/617549/c43970c1-366a-4e06-afb7-b33fdc5cf1ae.png
Upper Zone Halo (UMZ and Low Grade) - Underlying the UMZ in four holes were wide intervals of lower grade oxide gold mineralization (0.2 to 0.5 g/t Au range). The Upper Zone Halo mineralization was intersected in the same four holes and had an average combined vertical width (4 holes) of 42.67 meters with a weighted average grade of 0.96 g/t Au and 3.2 g/t Ag. Including the lower grade halo material approximately doubles the mineralized intervals of the UMZ.
Lower Mineralized Zone ("LMZ") - A new, lower mineralized zone was intersected in hole RC-20-09 at depth of 160.02 meters, averaging 1.48 g/t Au and 1.3 g/t Ag over 10.67 meters, hosted in dolomite. Similar to the UMZ, lower grade mineralization (halo mineralization) underlies this interval, with a wider zone returning 0.83 g/t Au and 1.0 g/t Ag over 21.34 meters from a depth of 160.02 meters. Hole RC-20-09 was the only hole on the east flank of the valley that was drilled to depth (190.05 meters) to test this mineralized horizon (holes RC-20-06, 07, and 08 were too shallow). The multiple stacked nature of the oxide gold mineralized horizons significantly increases the enhances the tonnage potential of the Eureka Tunnel Zone.
Carbonate Replacement Deposit (CRD) Mineralization - CRD type mineralization has been historically mined from the Eureka Tunnel adit which extend approximately 600 meters to the west. Three discrete intersections (see table) of CRD mineralization were intersected in three holes from the recent program. CRD mineralization is associated with higher silver to gold ratios, higher arsenic (As) to gold ratio, and enhanced lead and zinc values.
All data from the recent drilling will be added to the 3D model to refine additional drill targets. The diamond drilling program at the Eureka Tunnel target has recently ended due to inclement weather conditions. A total of three short core holes were completed comprising 376.58 meters.
An IP ("Induced Polarization") geophysical survey is planned to be completed before the end of the month over the Eureka Tunnel area.
Mike England, chief executive officer of Golden Lake, states "We are very pleased with the results to date on the Jewel Ridge project and look forward to results yet to come from the current drill program. These results are giving us a good understanding of the geology and mineralization in place and will help guide us in future programs. Permitting is ongoing on the BLM parcels of land within Jewel Ridge that will be subject to future drill programs in 2021."
Sam Dan
6年前
Management announces a significant additional landholding in the BC Project.
They are actively drilling in Nevada for the next month. Because of the high elevation there, further drilling will be curtailed there. But the BC project already has a crew beginning exploration and can continue through the winter months.
"("GLM" or the "Company") is pleased to announce the acquisition of two additional strategic claim blocks, from the same arms-length vendor, contiguous to and in the vicinity of the "MPD Property" owned by Kodiak Copper Corp. ("Kodiak") (TSX-V: KDK). The Deadman Lake property is contiguous to the Company's Copperview West property and represents a well-known porphyry target with historic sampling returning high silver assays (+25,000* grams silver per tonne (g/t Ag)) and 8.06% copper as well as elevated lead and zinc values. The South Dill Property is contiguous to the southern portion of Kodiak's MPD property and connects with the Company's Copperview South claims. Kodiak has made a significant new copper-gold porphyry discovery on the MPD property with the announcement of drill hole MPD-20-004 of 282 meters averaging 0.70 percent copper and 0.49 grams gold per tonne (see PR Kodiak September 3, 2020). The Company cautions that results on adjacent and/or nearby projects are not necessarily indicative of results on the Company's property.
Deadman Lake Cu-Ag Property
This property comprises 1 claim (375.7 ha) and covers four reported Minfile (BC government designation) showings between Deadman and Green Lake, centered 1.4 kilometers east of Hwy 5A, approximately 40 kilometers south of Merritt. The four mineral showings, known as Mob 2, Mob 6, Mob 8, and Mob 11, surround a distinct magnetic high definite by BC regional magnetic surveys and historic ground magnetic surveys. This magnetic high anomaly trends north-north-west and is situated approximately 7.5 kilometers west of Kodiak's discovery hole MPD-20-004.
Mike England, president of Golden Lake, states: "As part of our ongoing review of properties in this emerging copper-gold porphyry district, we are pleased to have acquired two properties of merit that augment and enhance our Copperview holdings. The outstanding historic silver values on the Deadman Lake property are an added bonus and with a stronger silver price could add significant value to our targets."
Cumulative terms of the acquisition for both properties, from one arms-length vendor, to earn a 100% interest in the Copperview project call for Golden Lake to pay $50,000 cash and issue a total of 400,000 shares over a 2-year time frame. A 1.6 % NSR will be granted to the vendor of which 1.0% can be purchased back by the Company for $1.0 million. "
The games continue!!
Sam Dan
6年前
Hopefully, this week we will receive assays from the first 5 holes rotary drilled on the Nevada project. Now we will be getting REAL information as assays are the only viable measurement of what is in the ground.
Perhaps next week the second batch of assays will be released as we'll. This second batch based on visuals and loss of hdrilled material my be even more revealing.
We live in interesting times.
Here are excerpts from a recent article re GLM
"encouraging exploration results at its 100%-optioned flagship Jewel Ridge gold project near Eureka on the south end of Nevada’s prolific Battle Mountain -Eureka gold trend, along strike and contiguous to the Archimedes/Ruby Hill gold mining operations to the north (acquired in 2015 from Barrick by private equity firm Waterton Resource Management) and the Timberline Resources advanced-stage Lookout Mountain project to the south.
The Battle Mountain-Eureka gold trend hosts numerous famous gold mines, including Marigold, Cove McCoy, Pipeline, and Cortez Hills to name a few. Between 1976 and 2012, production from these Carlin-type deposits in the Eureka District totaled 1.38 million ounces of gold.
The Jewel Ridge property consists of 96 unpatented lode mining claims and 30 patented claims covering approximately 728 hectares (1,800 acres) that 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. Multiple targets occur on the property with Carlin-type gold mineralization.
During a recent ten-hole Phase I drilling program, the second hole on the South Eureka Tunnel target, has intersected a significant width of oxide mineralization at depths greater than previously tested. Hole JR-20-05, a vertical Reverse Circulation drill hole, intersected a void (cavity) at 500 feet (152 metres) and, upon extension, intersected strong alteration and oxidation at 600 feet to 675 feet (183 metres to 206 metres), at which depth the hole was still in mineralization but lost due to ground conditions. Alteration of rocks and oxidation are key indicators of a geological setting amenable for gold deposition.
“While the Jewel Ridge gold project has many attributes, the lack of exploration at depth historically provides one of the greatest opportunities. Hitting oxide mineralization at this never-before-tested depth is a very good step in the right direction,” stated Mike England, President and CEO of Golden Lake.
Since the occurrence of alteration and strong oxidization at these depths on the South Eureka Tunnel target represents a new target, the company is proposing to deepen two of its planned holes of the Phase I program to test the deep oxide target. The deepest previous hole on this target was drilled in the 1980s to a depth of 340 feet (104 metres).
Geological modeling of Jewel Ridge is targeting a large tonnage gold deposit with important silver values, over a north-south trend of at least 4 km.
Golden Lake will make necessary site preparations to allow the drilling of deeper holes to depths of 750 to 900 feet (230-275 metres) to test the new deep oxide target. The company’s focus is on Carlin-style disseminated gold deposits, the primary focus in the area since the late 1970s. These types of deposits have been responsible for more than 250 million ounces of Nevada gold production from four trends or camps: Carlin, Cortez (Battle Mountain/Eureka), Getchell and Jerritt Canyon.[b}
Sam Dan
6年前
An additional acquisition for GLM
"GLM is pleased to announce the acquisition of a large, expansive group of claims known as the "Copperview Project" located in south-central British, Columbia. The project, acquired from Donald Rippon of Mineworks Ventures, is situated on the same regional geologic trend as, and surrounding the "MPD Property" owned by Kodiak Copper Corp. ("Kodiak") (TSX-V: KDK). Kodiak 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 (see PR Kodiak, September 3, 2020). Kodiak indicates this intercept represents a "significant high-grade copper-gold extension of the recently discovered Gate zone", located in the well-known, prolific southern portion of the Quesnel trough, host to numerous producing, past-producing and advanced development stage copper-gold porphyry deposits.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. The southern extent is traversed by the Peachland-Summerland Hwy, which parallels the railroad tracks. The northern portion of the project area is just south of Hwy 97C, and the western claim groups are traversed by Hwy 5A. An extensive network of logging and ranching roads allows year-round access to most target areas over the project area.The Copperview project covers, or is adjacent to, nine (9) known Minfile (BC government designation) mineral showings or occurrences, and also covers with the mineral rights, three historical small placer gold operations (Minfile past producers). The Siwash West 1000 claim block west of Mizzezula Lake is the closest area to Kodiak's recent drilling, located approximately 4.2 kilometers northwest of hole MPD-20-004. The southeast and east portions of the Copperview project are contiguous to Kodiak's MPD Property.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 completed"
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