Geochemical Survey Initiated On The Jewel Ridge Property, Nv
Vancouver, British Columbia – June 18, 2020, Golden Lake Exploration Inc. (CSE: GLM) (“GLM” or the “Company”) is pleased to report the initiation of a surface soil geochemical survey over a portion of the company’s keystone Jewel Ridge gold property located near the town of Eureka, Nevada. The geochemical survey is being conducted by Rangefront Geological of Elko, Nevada and commenced on June 17, 2020.
The proposed soil chemical survey will comprise sampling on 200 ft (61 meter) intervals, on lines spaced approximately 400 ft (122 meters) in an east-west direction. The survey is planned for approximately 400 samples, including quality (QaQc) samples.
The area of the survey covers the northern and north-eastern portion of the property, where previous geochemical sampling (rock and soil samples) was sparse and drilling scattered and limited. The proposed survey covers the north-eastern extensions of the Magnet Ridge target and the newly defined Radio Tower target (see Press Release May 17, 2020). As previously reported by the Company, two distinct types of mineralization occur on the Property: 1) carbonate replacement deposits of silver-gold- lead-zinc (Ag-Au-Pb-Zn) and 2) Carlin-style disseminated gold deposits. Each type of mineralization has a specific geochemical signature that will be useful to identify new drill targets.
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.
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 Lake Exploration Inc.
Golden Lake Exploration is a junior public mining exploration company engaged in the business of mineral exploration and the acquisition of mineral property assets. Its objective is to acquire, explore and develop economic precious and base metal properties of merit and to aggressively advance its exploration program on the Jewel Ridge property.
ON BEHALF OF THE BOARD
Mike England, CEO & DIRECTOR
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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).