The combination of new surface mineralization discoveries, lithological orientations, and mapping along the 2.3 km trend are all further evidence for the presence of a “large” alkalic, silica-undersaturated porphyry with adjacent high-grade skarn system. This preliminary model is geologically synonymous to the world-class Galore Creek Cu-Au-Ag porphyry deposit (814.7 million tonnes of 0.50% Cu, 0.31 g/t Au, 5.21 g/t Ag – BC MINFILE #104G 090) located 30 km to the NW.
Cole Evans, President / CEO of HEG commented “The vastness of copper with associated gold and silver mineralization of multiple styles starting at surface is really impressive. Our team has been tracking ice and snow retreat with a variety of tools. As it retreats, we are consistently being rewarded with new exposures of high-grade mineralization on surface. The first ever look at the subsurface from 2019 diamond drilling is giving us the confidence to make aggressive step outs with mineralization open along trend and at depth. Drilling continues while we eagerly await assays. The potential to have a large-scale copper-gold-silver deposit with similar lithologic, mineralization, alteration, and orientation characteristics of our world-class neighbour Galore Creek 30km to the northwest is very encouraging. An important distinction is the Burgundy Ridge Trend is roughly 1/5th the distance from road and power infrastructure making it a much more attractive system from that perspective.”
Newmont Lake Gold Corridor | High-Grade Au-Ag-Cu System
The technical team is pleased with the results of a recently completed IP survey by Walcott Geophysics and new high-grade Au discoveries at outcrop with highlights of23.08 g/t Au, 6.49 g/t Ag, and 0.16% Cu (Sample ID B0003502) that has identified new drill targets with the potential for high-grade Au discoveries along the Mclymont Fault; a known prolific high-grade Au conduit with multiple showings over the 20km trend. Chargeable IP anomalies in the footwall of the Mclymont Fault system like those of the historic high-grade gold resource extend to the northeast and southwest of the NW Zone. This fault system has been mapped for 20km with 95% held within the Newmont Lake Property. Brand new discoveries adjacent to receding ice/snow of massive/semi-massive sulphides (pyrite and chalcopyrite) synonymous with high-grade Au in the area have also been discovered with assays pending.
Furthermore, new 3D modelling of the NW Zone high-grade Au system has outlined significant areas for expansion of the non-compliant historic inferred resource that contains 1,406 ktonnes at an average grade of 4.43 g/tAu, 0.22%Cu and 6.4 g/tAg at a projected “base case” cut-off grade of 2 g/tAu containing 200,000 oz Au, 6.79 million lbs of copper and 291,000 oz of silver (Mineral Resource Estimate on the North West Zone, Newmont Lake Property, submitted to Romios Gold Resource Inc., May 11,2007). This resource estimate was based solely on the drill hole data collected by Gulf Minerals in the late 1980’s and early 1990’s. Hy-Tech Drilling has commenced the first-ever oriented, HQ drill core holes in the NW Zone targeting new high-grade Au with the objective to significantly expand the size of the known Au zone, and acquire oriented core data to aid in the vectoring of more high-grade Au targets in the area.
Several maps containing the surface geochemical results along with the completed geophysics data will be available on the website,
www.crystallakemining.com, shortly.
Maurizio Napoli P.Geo., VP Exploration of Crystal Lake commented “We have been patient with the NW Zone to give our technical team the proper time required for thorough due diligence of this high-grade Au system developing along the 20km long Mclymont Fault Trend. Brand new high-grade gold discoveries have been made on surface with corresponding geophysical anomalies that suggests there is more high-grade Au in this area than previously understood. In addition, the non-compliant historic resource of 200,000 ounces gold completed in 2006 was limited to 1980’s drilling where the majority of core was not assayed or oriented. Our team has been able to model the deposit with the latest in 3D software and have identified probable extensions of the system. We have managed to prove this theory with brand new high-grade Au intercepts from previously unsampled drill core. When we factor in gold prices that have more than tripled since resource work was last done, and a new road and powerplant 10 miles down the valley; the potential is there for this to become one of the most important high-grade Au corridors in the district. Crystal Lake’s dominant land package is poised to capitalize on this.”
Qualified Person
The technical information in this news release has been reviewed and approved by Mr. Maurizio Napoli, P. Geo., VP Exploration for Crystal Lake Mining, a Qualified Person responsible for the scientific and technical information contained herein under National Instrument 43-101 standards.
About Crystal Lake Mining
Crystal Lake Mining is a Canadian-based junior exploration company focused on building shareholder value through high-grade discovery opportunities in British Columbia and Ontario. The Company has an option to earn a 100% interest in the Newmont Lake Project, one of the largest land packages among juniors in the broader Eskay region in the heart of Northwest B.C.’s Golden Triangle.
On Behalf of the Board of Directors,
CRYSTAL LAKE MINING CORP.
“Richard Savage”
President & CEO
For further information please contact:
MarketSmart Communications
Tel: +1 (604) 261-4466
Toll Free: +1 (877) 261-4466
Momentum Public Relations
Tel: +1 (514) 815-7473
Cole Evan’s Goes into Detail about CLM’s Newmont Lake Project Update – Part 1 of 2
