Crystal Lake Discovers Porphyry Center Extending the Footprint of Burgundy Ridge by 2.3km: Drills 56.35m @ 0.45% Copper, 0.33 g/t Gold, and 3.44 g/t Silver
Momentum Public Relations
Press Release: October 9, 2019
Crystal Lake Mining Corporation (TSXV: CLM OTC: SIOCF FSE: SOG-FF) (“Crystal Lake” or the “Company“) is pleased to announce the discovery of an entirely\new copper-gold (Cu-Au) porphyry mineral zone at the 72′ Zone; 2.3km northeast of the Burgundy Ridge mineralization. This represents a new copper-gold (Cu-Au) rich porphyry on the Newmont Lake Project located at the western margin of the Eskay Rift in the Heart of the Golden Triangle, British Columbia.
This discovery is 250 metres west-northwest of historic high-grade Cu-Au skarn-type mineralization drilled by the previous operator and ~2km away from newly discovered analogous mineralization on surface at the Rock Islands indicative of a potentially large porphyry system. This is the first discovery of porphyry-type mineralization at 72′ Zone, and the system remains open to depth and along trend both to the north and south. (See Figure 1).
Maurizio Napoli, President / CEO of Crystal Lake commented “We are excited to see our initial drilling campaign result in the discovery of a porphyry Copper-Gold system and expansion of the Burgundy Ridge alteration system. The 2019 program has already provided promising data to vector into the high-grade core of these large porphyry-hydrothermal systems.”
Highlights
- New Cu-Au-Ag porphyry discovery highlighted by 56.35 metres of 0.45% Cu, 0.33 g/t Au, and 3.44 g/t Ag from 224.88 metres – 281.23 metres in diamond drill hole STDDH19-006.
- Strong potassic alteration centre of chalcopyrite-bornite within grading 22.28 metres of 0.89% Cu, 0.71 g/t Au, and 6.65 g/t Ag from 228.00 metres – 250.28 metres in diamond drill hole STDDH19-006.
- Widespread alteration and sulphide mineralization associated with large Cu-Au-Ag porphyry systems in the region intercepted in all four holes.
- High-grade chalcopyrite-bornite mineralization is relatively shallow compared to other porphyry systems in the region.
- System may be evidence for high-grade porphyry-related skarn-type mineralization observed on surface along the entire Burgundy trend.
A total of four, widely spaced diamond drill holes tested a 700m x 300m area. All of the holes intercepted widespread sulphide mineralization and alteration styles characteristic of large porphyry Cu-Au systems. The third diamond drill hole into the target area (STDDH19-006) cut through stock-work hosted and disseminated chalcopyrite-bornite mineralization (“hypogene sulphide”) associated with a potassic alteration zone. The 56.35 metre diamond drill core interval contains 0.45% Cu, 0.33 g/t Au, and 3.44 g/t Ag. Importantly, the intercept includes a zone of intense potassic alteration and high-grade hypogene mineralization comprising 22.28 metres of diamond drill core intercepted 0.89% Cu, 0.71 g/t Au, and 6.65 g/t Ag. It is suggested that this intercept may be an early indication of the large Cu-Au-Ag porphyry system underlying the Burgundy Trend that is responsible for driving fluids that generated the high-grade skarn mineralization observed at surface along the trend. Further hyperspectral data supports the continuation of the alteration system in these directions. (See Figure 1).
The new porphyry system was identified through an extensive field mapping and spectral geology program that defined a large hydrothermal system focused around a multi-stage intrusive centre and associated hydrothermal breccias. The presence of alteration and sulphide mineralization in the adjacent diamond drill holes suggests the presence of a sizable hydrothermal system in the area. STDDH19-006 is the first hypogene-only mineralization intercepted at 72′ Zone to date.
Cole Evans, President / CEO of HEG commented “This obviously represents an exciting and major development over the Burgundy trend. HEG geologists worked diligently to develop a new lithology and alteration map of the area supported by their hyperspectral technology never before used on the property. We focused on defining a complex intrusion, breccia, and alteration paragenesis prior to the initial target testing. Long intercepts of strong sulphide and white mica alteration in STDDH13-003 and STDDH13-005, located nearly 600 metres and 450 metres respectively from STDDH19-006 is good evidence for the presence of a large porphyry system. The entire technical team is extremely excited about these results. We feel this is one of a series of mineralization centres that have never been drilled within the Burgundy system and might be the heat and fluid source behind high-grade Cu-Au-Ag-Zn mineralization on surface along the entire 2.3km trend.”
Crystal Lake Provides Drilling and Work Update
A total of 6,546 metres of diamond drilling has been completed to date in 2019 at the Newmont Lake Project. Completed drilling has been focused on the Burgundy Trend, and Newmont Lake Gold Corridor. In addition, a massive grassroots exploration program and data interpretation program is systematically being executed across the entire Newmont Lake Project. The following tables provide shareholders a summary of the progress made so far:
Target |
# of |
Total Metres |
% of |
Assay Status |
Burgundy Ridge |
10 |
3019.5 m |
46% |
Pending |
NW Zone |
9 |
1623.5 m |
25% |
Pending |
72′ Zone (part of Burgundy Trend) |
4 |
1311.0 m |
20% |
Received |
Arseno (part of Newmont Lake Gold Corridor) |
2 |
592.0 m |
9% |
Pending |
Table 2: Summary of 2019 drilling completed to date. Further assay results are to follow as they are received and Quality Assurance/Quality Control (QAQC) procedures are implemented.
Work |
Quantity |
Status/Purpose |
Diamond Drilling |
6,546 metres |
Majority of the assays pending. The initial assay results highlighting (1) significant expansion of high-grade gold at the NW Zone and (2) discovery of first Cu-Au-Ag porphyry system at 72′ Zone. |
IP Geophysical Surveys |
~12-line kilometres |
Identification of potential new high-grade Au systems along the Newmont Lake Gold Corridor. |
Soil Sampling |
> 3,000 samples |
To define large scale, well-endowed metal systems across the Newmont Lake Property. |
Rock Sampling |
~2,500 samples |
To outline new surface discoveries, geochemical vectoring, and confirmation of historic assays in a variety of locations. |
Hyperspectral Sampling |
~4,500 samples |
To create numerous spectral geology layers critical in the interpretation of alteration systems and vectors in exploration targeting. |
Geological Mapping |
~350 km2 |
1:2000 scale or finer, to outline the geology, structure and alteration zones within variety of areas of interest across the Newmont Lake Project to assist in drill targeting and new discovery. |
Exploration Camp and Logistical Network Build |
50-person spring/summer/fall capacity with current 8-person winter capacity. |
Critical component for low-cost exploration complete with 2 airstrips, 2 sets of bulk fuel tanks, equipment storage etc. |
Cautionary Statement of Photo Gallery:
Please note the visualizations are selected images highlighting strong visual mineralization from a variety of new showings and recent diamond drill core. Mineral identification has been determined visually by geologists and cross-referenced via mobile X-ray Fluorescence elemental geochemical techniques (ThermoScientific Niton XL5 pXRF). Portable XRF data is not provided as it is not an indicator of representative geochemistry of the entire rock mass. The reader should also note that while relative spatial information is provided, mineralization is not necessary representative of space between any given location and it should not be assumed that lateral continuity exists. The reader is encouraged to exercise caution, due their due diligence, and determine their own conclusions with the information provided.
QAQC/ Analytical Procedures
Rock samples from the Newmont Lake Project were sent to MSA LABS’ preparation facility in Terrace, B.C., where samples were prepared using method PRP-910. Samples were dried, crushed to 2mm, split 250g and pulverized to 85% passing 75 microns. Prepped samples were sent to MSA LABS’ analytical facility in Langley, B.C, where 50g pulps were analyzed for gold using method FAS-121 (fire assay-AAS finish). Gold assays greater than 100 g/t Au were automatically analyzed using FAS-425 (fire assay with a gravimetric finish). Rock samples were analyzed for 53 elements using method IMS-230, multi-element ICP-MS 4-acid digestion, ultra-trace level. Silver assay results greater than 100 g/t Ag and cobalt, copper, nickel, lead and zinc greater than 10,000ppm were automatically analyzed by ore grade method ICF-6.
Crystal Lake Mining conducts its own QA/QC program where three standard reference material pulps, two blank reference material samples are inserted for every 100 samples when analyzing rock samples.
Soil samples from the Newmont Lake Project were sent to MSA LABS’ preparation facility in Terrace, B.C., where samples were prepared using method PRP-757. Soil samples were dried and screened to 80 mesh, discard plus fraction. Prepped samples were sent to MSA LABS’ analytical facility in Langley, B.C, where they were analyzed for 51 elements using IMS-131 for samples with 20g or greater and IMS-130 for samples between 0.5g and 20g.
Crystal Lake Mining conducts its own QA/QC program where three standard reference material pulps, two blank reference material pulps are inserted for every 100 samples when analyzing soil samples.
Forward-Looking Statement
This news release may contain certain “forward looking statements”. Forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Any forward-looking statement speaks only as of the date of this news release and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Qualified Person
The technical information in this news release has been reviewed and approved by Mr. Maurizio Napoli, P. Geo., CEO/President 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.
“Maurizio Napoli”
President & CEO
Email: info@crystallakemining.com
SOURCE Crystal Lake Mining Corporation
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/October2019/09/c2979.html
Contact:
MarketSmart Communications, Tel: +1 (604) 261-4466, Toll Free: +1 (877) 261-4466, Email: info@marketsmart.ca;
Momentum Public Relations: Tel: +1 (514) 815-7473, Email: mark@momentumpr.com
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Crystal Lake receives court approval for Sassy deal
Momentum Public Relations
Press Release: October 7, 2019
CRYSTAL LAKE MINING CORPORATION ANNOUNCES COURT APPROVAL OF THE PLAN OF ARRANGEMENT, ADOPTION OF SHAREHOLDER RIGHTS PLAN AND NEW ARTICLES
Further to the news releases dated June 25, 2019, July 26, 2019, and Oct. 1, 2019, on Oct. 3, 2019, the Supreme Court of British Columbia approved the plan of arrangement among Crystal Lake Mining Corp., Sassy Resources Corp. and the shareholders of the company.
The share distribution record date and the share issuance date for the arrangement will be determined by the board of directors of Crystal Lake, and will be announced by a separate news release in advance. The arrangement also remains subject to the final approval of the TSX Venture Exchange.
Further to the news release of the company dated Oct. 1, 2019, the company also wishes to announce that at its last annual general and special meeting of shareholders on Sept. 30, 2019, the company has received a reapproval of the shareholder rights plan, which was originally adopted by the shareholders of the company on May 8, 2014. The company believes the adoption and the reapproval of the rights plan are in the best interests of the company to ensure that all shareholders of the company are treated fairly in connection with any potential takeover bid of the company. The rights plan is subject to the acceptance by the TSX Venture Exchange.
Further to the news release of the company dated Oct. 1, 2019, the company also wishes to announce that at the meeting, the shareholders approved the adoption of the new articles of the company. The new articles are subject to the acceptance by the TSX Venture Exchange.
About Crystal Lake Mining Corp.
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-per-cent interest in the Newmont Lake project, one of the largest land packages among juniors in the broader Eskay region in the heart of northwest British Columbia’s Golden Triangle.
- Published in Crystal Lake Mining, Mining, News Home
Crystal Lake Mining Announces Results of its Annual General Meeting and Special Meeting; Appoints Maurizio Napoli as CEO & Brian Moore as CFO
Momentum Public Relations
Press Release: October 1, 2019
Crystal Lake Mining Corporation (TSXV: CLM OTC: SIOCF FSE: SOG-FF) (“Crystal Lake” or the “Company“) is pleased to announce the results of voting of its Annual General and Special Meeting (the “Meeting“) of shareholders which was held at 11:00 am on September 30, 2019 in Vancouver, Canada.
All matters submitted to shareholders for approval as set out in the Company’s Notice of Meeting and Information Circular, (both dated August 23, 2019), were approved by the majority of votes cast at the Meeting with a total of 34,383,710 common shares (the “Shares“) representing 32.03% of the issued Shares of the Company represented at the Meeting. Details of the Meeting are provided below.
Appointment of Maurizio Napoli as CEO & President
The Company is pleased to announce that Mr. Maurizio Napoli has been appointed CEO and President of the Company. Maurizio (“Mars“) Napoli’s information and statement is added below.
Mr. Savage will remain as a member of the Company’s board of directors (the “Board“). The Company thanks him for his service as CEO and value he has brought to the Company which includes solidifying the acquisition of its Newmont Lake Project and for bringing in valuable and strategic shareholders to the Company. The Company looks forward to his continued support as a member of the Board.
Appointment of Brian Moore as CFO & Director
The Company is pleased to welcome Mr. Brian Moore as CFO and a director of the Company. Brian Moore’s information is added below.
He replaces Alphonse Ruggiero in the position who has stepped down as CFO of the Company. Mr. Ruggiero will remain as a member of the Board. The Company thanks him for his service while in the CFO position.
Number of Directors
- The number of Directors was set at five (5).
Election of Directors, Addition of new Director
- The director nominees were elected resulting in Lawrence Roulston, Wally Boguski, Richard Savage, Alphonse Ruggiero.
- The Chair informed that Mr. Dave Ellett stepped down as a nominee member of the Board before the Meeting and informed that Mr. Brian Moore was nominated as a director of the Company. The Company wishes to thank Mr. Ellett for his service as a member of the Company’s Board.
Appointment of Auditors
- Davidson & Company LLP, Chartered Accountants were re-appointed as auditors of the Company.
Stock Option Plan
- 97.86% voted in favour of the adoption of a new 10% rolling stock option plan.
Re-pricing of Stock Options
- 97.66% voted in favour of the re-pricing of previously granted stock options to insiders of the Company.
Plan of Arrangement Resolution
- 98.85% voted in favour of the special resolution with respect to the Plan of Arrangement, which involves the distribution of common shares of Sassy Resources Corporation to the shareholders of the Company.
Maurizio Napoli (CEO & President) Information
Maurizio Napoli completed H.BSc. and M.Sc. degrees at Laurentian University. He worked for 2 years with the Ministry of Northern Development and Mines mapping the numerous gold occurrences in the Fox Lake Belt near Whitefish Ontario. He continued his career with Inco, IncoGold and Vale exploring for magmatic nickel-copper sulphides globally, gold in the Abitibi Greenstone Belt and uranium in New Brunswick. He retired as an Exploration Manager from Vale in 2016.
Maurizio Napoli, CEO & President stated, “Crystal Lake’s Newmont Lake Project, is a multi-focused high-grade gold, silver, copper and other strategic metals project, along the western flank of the Eskay Rift in NW BC, in the heart of the Golden Triangle. The Company’s first season of developing the Project has delineated three exciting target areas for the Company and its shareholders including the Newmont Lake Gold Corridor, Burgundy Ridge & 72 Zone and the Chachi Corridor. Numerous exciting results are forthcoming from all three zones. On behalf of our whole team I’d like to thank everyone for the patience and support given to us which allowed us to complete one of the largest junior exploration programs in the Golden Triangle this season.”
Brian Moore (Director & CFO) Information
Brian Moore has been providing taxation, accounting, and business advisory services since 1979, establishing his own firm in 1986. His Partner Paul Turner and Brian co-founded TurnerMoore LLP in 1994. Their firm is committed to helping business operators and entrepreneurs in building and maintaining enterprises from start-up, growth and succession.
Brian is an active volunteer in his community, and over the past thirty years has served on carious not-for-profit boards and in political organizations. He is a past Governor of CGA Ontario, past member of committees for both CGA Ontario and CGA Canada, and currently serves as a Practice Inspector for CGA Ontario. In 2009, CGA Canada awarded Brian the Fellowship designation (FCGA) in recognition of his contributions to CGA and the accounting profession.
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.
“Maurizio Napoli”
President & CEO
Email: info@crystallakemining.com
SOURCE Crystal Lake Mining Corporation
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/October2019/01/c3789.html
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Crystal Lake Intersects 15.11 g/t Gold over 8 Metres at Newmont Lake Project, BC
Momentum Public Relations
Press Release: September 18, 2019
Crystal Lake Mining Corporation (TSXV: CLM OTC: SIOCF FSE: SOG-FF) (“Crystal Lake” or the “Company“) is pleased to announce the intersection of shallow high-grade gold mineralization at Crystal Lake’s Newmont Lake Gold Corridor. The new results are crucial as they provide evidence of a thick unit of unusually high-grade gold mineralization within a broad envelop of continuous low-grade gold mineralization. This discovery is important as it demonstrates that the mineral zone actually increases in both width and in grade in areas where previous models indicate a narrowing of the mineral zone. Additionally, a second deeper horizon has been intersected in an area without gold mineralization in previous models adding to the exploration potential of the Newmont Lake gold corridor along the western flank of the Eskay Rift in NW BC.
The first diamond drill core assay results from ongoing drilling at the NW Zone underscore the potential for higher grades and increased continuity of grade which can result in significant expansion of the historic mineralization while brand new high-grade domains are targeted elsewhere along the gold-bearing McLymont Fault and numerous associated splay faults.
Highlights:
- The second of three drill holes, building on the northern extension of the Northwest zone, intersected 15.1 g/t Au over 8.03 metres (106.32 metres to 114.35 metres), including 76 g/t Au over 1 metre, in addition to an even shallower high-grade intercept of 7.6 g/t Au, 23.1 g/t Ag and 1.03% Cu over 5.30 metres starting just 82 metres downhole (including 26.1 g/t Au over 1.3 metres);
- These two shallow high grade gold zones form a thick continuous intercept of 44 metres (82 metres to 126.13 metres, approximate true width) grading 4.03 g/t Au, 4.06 g/t Ag and 0.29% Cu, in addition to a deeper wide interval of disseminated gold mineralization (77 metres @ 0.29 g/t Au) starting 157 metres downhole which points to the potential for new discoveries including more high-grade mineralization at depth;
- Ongoing drilling of this significantly upgraded portion of the NW Zone Historic Resource* has encountered visually similar mineralization in the third hole completed along section with an estimated down-dip step out of approximately 22 to 30 metres. Assays are pending.
- The fourth hole on section in the Newmont Lake Gold Corridor is ongoing.
Dr. Peter Lightfoot, Technical Adviser to Crystal Lake, commented: “The western flank of the Eskay Rift is endowed with significant high-grade mineralization styles that fit with a wide range of deposit models, and require very efficient pathways for fluids and magma to migrate from depth to the surface and form ore deposits. The gold mineralization developed along the western flank of the Newmont Lake graben is part of this wider mineral system, and Crystal Lake is aggressively developing an understanding of how the high-grade gold mineralization relates to the McLymont fault, its subsidiary faults and associated hydrothermal breccias.”
Assay Highlights from Newmont Lake Gold Corridor Second Drill Hole (NWDDH19-012)
NWDDH19-012 |
From (m) |
To (m) |
Interval (m) |
Au (g/t) |
Ag (g/t) |
Cu (%) |
Interval |
82.00 |
123.13 |
44.13 |
4.03 |
4.06 |
0.29 |
Including |
87.00 |
92.30 |
5.30 |
7.57 |
23.10 |
1.03 |
Including |
91.00 |
92.30 |
1.30 |
26.15 |
20.25 |
1.20 |
Also Including |
106.32 |
114.35 |
8.03 |
15.11 |
4.29 |
0.68 |
Including |
106.32 |
107.32 |
1.00 |
16.16 |
5.13 |
0.66 |
Including |
111.35 |
112.35 |
1.00 |
76.56 |
11.54 |
0.47 |
Including |
112.35 |
112.35 |
1.00 |
11.62 |
1.26 |
0.02 |
Interval |
157.00 |
234.15 |
77.15 |
0.29 |
0.30 |
0.03 |
Collar Coordinates for Newmont Lake Gold Corridor Second Drill Hole (NWDDH19-012)
Hole ID |
Easting (m) |
Northing (m) |
Azimuth (°) |
Dip (°) |
Depth (m) |
NWDDH19-010 |
381288 |
6300915 |
298 |
55 |
198 |
NWDDH19-012 |
381288 |
6300915 |
296 |
75 |
261 |
NWDDH19-017 |
381288 |
6300915 |
247 |
90 |
264 |
NWDDH19-020 |
381288 |
6300915 |
121 |
70 |
120 |
The Historic Resource* (historic inferred resource) that contains 1,406k tonnes at an average grade of 4.43 g/t Au, 0.22% Cu and 6.4 g/t Ag at a projected “base case” cut-off grade of 2 g/t Au 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.
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.
Quality Assurance/Quality Control
Drill core samples from the Northwest Gold Zone were sent to MSALABS’ preparation facility in Terrace, B.C., where samples were prepared using PRP-910 method. Core Samples were dried, crushed to 2mm, split 250g, and pulverized to 85% passing 75 microns. Prepped samples were sent to MSALABS’ analytical facility in Langley B.C., where 50g pulps were analyzed for gold using the FAS-211 method, fire assay AAS finish. Core samples were analyzed for 53 elements using the IMS-230 method, multi-element ICP-MS 4-acid digestion, ultra fine trace level. Silver assay results greater than 100 g/t Ag and cobalt, copper, nickel, lead, and zinc greater than 10,000ppm were automatically analyzed by ore grade method ICF-6.
Crystal Lake Mining conducts its own QA/QC program where five standard reference material pulps, five blank reference material samples, and two field duplicates are inserted for every 100 samples when analyzing core samples.
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
Email: info@crystallakemining.com
Phone: 1-604-440-8474
- Published in Crystal Lake Mining, Gold, Mining, News Home
Crystal Lake Mining Adds Major New Investor
Momentum Public Relation
Press Release: September 12, 2019
Crystal Lake Mining Corporation (TSXV: CLM OTC: SIOCF FSE: SOG-FF) (“Crystal Lake” or the “Company“) is pleased to announce that it has closed $1,438,000 (4,793,333 units) as the first tranche of a proposed $1.5 million private placement of hard dollar units at 30 cents per unit (5,000,000 units), subject to TSX Venture Exchange approval (see further details below).
Mr. Rob McEwen has purchased 1,666,667 units ($500,000) of the private placement through his wholly owned company Evanachan Limited. Mr. McEwen is the Chairman and Chief Owner of McEwen Mining Inc. and is the Founder and former Chairman and CEO of Goldcorp Inc., recently acquired by Newmont.
Richard Savage, Crystal Lake President and CEO, commented: “We are pleased to welcome Rob McEwen as a strategic new shareholder. Mr. McEwen has a very successful track record, having grown Goldcorp’s market capitalization from $50 million to over $8 billion dollars. He is a strong believer in the precious metal and commodity markets, and we are grateful to include him as a shareholder with us all.”
Proceeds of this private placement will be used to advance the Company’s Newmont Lake Project, where a drill program continues in Northwest British Columbia’s prolific Eskay Camp, and for general working capital purposes.
Private Placement Details
Each unit of the private placement, consisting of five million units at 30 cents per unit, includes one common share in the capital of the Company and one-half of a share purchase warrant. Each full warrant entitles the holder to purchase one common share of the company for a period of 24 months from the closing of the offering at an exercise price of 35 cents per share. The securities will be subject to a four-month hold period and finder’s fees may be payable to qualified parties.
Insiders of the Company subscribed for 76,667 units, with Wally Boguski, COO and a director of the Company, subscribing for 30,000 units and Maurizio Napoli, VP Exploration of the Company, subscribing for 46,667 units. As a result, the Private Placement is a related party transaction (as defined under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (“MI 61-101“). The Company relied upon the “Issuer Not Listed on Specified Markets” and “Fair Market Value Not More Than $2,500,000” exemptions from the formal valuation and minority shareholder approval requirements, respectively, under MI 61-101.
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, the largest land package 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
Email: info@crystallakemining.com
SOURCE Crystal Lake Mining Corporation
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/September2019/12/c7272.html
Contact:
Momentum Public Relations, Tel: +1 (450) 332-6939
- Published in Crystal Lake Mining, Mining, News Home
Crystal Lake Mining Provides an Update on Designed Exploration for High-Grade Gold within the Newmont Lake Gold Corridor, NW BC, Golden Triangle, Eskay Camp
Momentum Public Relations
Press Release: September 10, 2019
Crystal Lake Mining Corporation (TSXV: CLM) (OTC Pink: SIOCF) (FSE: SOG) (“Crystal Lake” or the “Company“) is pleased to provide an update on exploration designed to test the Newmont Lake corridor for high grade gold mineralization on the Company’s roughly 700 km2Newmont Lake Project in the heart of BC’s Golden Triangle. The Newmont Lake corridor contains the historic Newmont Lake gold mineral resource, which sits at the western flank of the strongly endowed Eskay Rift. Geological work has established potential for the known deposit to be open along strike. A thorough review of historic drill core, assaying of previously untested drill core, and construction of a 3D model underpins a new understanding of the deposit and has provided a number of targets along strike from the historic resource where potential extensions or new mineral zones may exist.
High-Grade Gold Targets in the Newmont Lake Gold Corridor
Assay results from an extensive program of surface mapping and geochemistry of rock chip samples and previously unsampled core have shown that high grade gold mineralization follows the trend of the McLymont Fault Zone (please see the Company’s News Release dated September 4th, 2019) over a strike length of >8kms centered along the trend of the Newmont Lake resource.
Multiple boulders containing high grade gold mineralization with up to 84.4 g/tonne gold have been traced back to a new target in the Arseno Zone. The boulders are selected samples that are not in situ, the source of these samples is not known and is not necessarily indicative of mineralization hosted on the property. Similar mineralization in outcrop has been traced back to a possible source which is interpreted to be covered by ice. This target is a step-out along trend from the historic Newmont Lake deposit, and drilling is being guided by a combination of outcropping mineralization, alteration, and chargeability response in the IP survey.
Plan View of the Newmont Lake Gold Corridor between NW Zone and Arseno showing locations of IP lines, and the location of the historic NW Zone resource. Historic and 2019 assays are collected from multiple historic boulder samples inferred to be locally sourced. The boulders are selected samples that are not in situ, the source of these samples is not known and is not necessarily indicative of mineralization hosted on the property.
The first 3 drill holes at the NW Zone tested the northern portion in the footprint of the historic inferred resource that contains 1,406k tonnes at an average grade of 4.43 g/t Au, 0.22% Cu and 6.4 g/t Ag at a projected “base case” cut-off grade of 2 g/t Au 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. The objective of the initial drilling is to better understand the geological controls on mineralization and evaluate whether historic sampling adequately reflects the grade. Drilling beyond the northern and southern trend of the historic resource is designed to identify extensions of mineralization based on the newly developed geological model. The drill targets have been constrained based on the geological data together with the trend of mineralization and the chargeability response from the 2019 IP survey.
The mineral estimate cited above is presented as a historical estimate and uses historical terminology which does not conform to current NI 43-101 standards. A qualified person has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves. Although the historical estimates are believed to be based on reasonable assumptions, they were calculated prior to the implementation of National Instrument 43-101. These historical estimates do not meet current standards as defined under sections 1.2 and 1.3 of NI 43-101; consequently, the issuer is not treating the historical estimate as current mineral resources or mineral reserves.
Crystal Lake Expands the Newmont Lake Project
Crystal Lake has staked an additional 5,423 hectares of claims contiguous with the Newmont Lake and Foremore Claims Properties. The total land package now comprises a total 728km2 (72,800 hectares), which makes Crystal Lake the holder of one of the largest and most prospective projects within the Eskay Camp.
Maurizio Napoli P. Geo., VP Exploration of Crystal Lake commented, “Our 2019 exploration program has indicated that the McLymont Fault running through the centre of our Project is an important control of the high-grade gold mineralization in the historic resource of 200,000 ounces completed in 2006. Our sampling campaign of historic drill core that had not been previously assayed has demonstrated that there are unsampled gold bearing intervals within the resource volume implying that a significant amount of gold, silver and copper values may be under-reported within the area of the historic resource. The objective of our current drilling campaign is to expand the current resource and, to discover new high-grade gold zones along the McLymont Fault.”
Crystal Lake’s land package in the Eskay Camp including the newly conjoined Newmont Lake and Foremore properties.
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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.
Quality Assurance/Quality Control
Rock samples from the Northwest Gold Zone were sent to MSA Labs’ preparation facility in Terrace, B.C., where samples were prepared using method PRP-910. Samples were dried, crushed to 2mm, split 250g and pulverized to 85% passing 75 microns. Prepped samples were sent to MSA Labs’ analytical facility in Langley, B.C, where they were analyzed for gold using method FAS-121 (fire assay-AAS finish). Gold assays greater than 100 g/t Au were automatically analyzed using FAS-425 (fire assay with a gravimetric finish). Rock samples were analyzed for 53 elements using method IMS-230, multi-element ICP-MS 4-acid digestion, ultra-trace level. Silver assay results greater than 100 g/t Ag and cobalt, copper, nickel, lead and zinc greater than 10,000ppm were automatically analyzed by ore grade method ICF-6.
Crystal Lake Mining conducts its own QA/QC program where three standard reference material pulps, two blank reference material samples are inserted for every 100 samples when analyzing rock samples.
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
Email: info@crystallakemining.com
www.crystallakemining.com
For further information please contact:
MarketSmart Communications
Tel: +1 (604) 261-4466
Toll Free: +1 (877) 261-4466
Email: info@marketsmart.ca
Momentum Public Relations
Tel: +1 (514) 815-7473
Email: mark@momentumpr.com
- Published in Crystal Lake Mining, Mining, News Home
Crystal Lake Mining Provides an Extensive Exploration Update on the Newmont Lake Project – Golden Triangle, Eskay Camp, Outlining 2 Major Target Areas for High-Grade Gold, Silver and Copper Systems
Momentum Public Relations
Press Release: September 4, 2019
Crystal Lake Mining Corporation (TSXV: CLM) (OTC Pink: SIOCF) (FSE: SOG-FF) (“Crystal Lake” or the “Company“) is pleased to announce further positive results from the ongoing exploration program on the Company’s Newmont Lake Project in the heart of BC’s Golden Triangle, Eskay Camp. Drilling and surface work continue to expand known zones and turn up new discoveries with expansive footprints.
The in-field exploration program that started in May 2019 has collected approximately (approximate values are given as exploration is ongoing):
- 2,500 soil samples for assay
- 1,500 rock samples for assay
- 4,500 hyperspectral samples analyzed in-house via TerraSpec Halo
- 700 core samples from historic un-sampled core for assay
- 12 line-km of induced polarization (IP) geophysical survey
- 300 km2 of geological mapping in a variety of detail
- Over 4,000 meters of diamond drilling with all samples submitted for assay
- Extensive 3D deposit modelling
- Construction of a brand new state-of-the-art 50-person exploration camp
- Construction of a logistical network for future lower-cost exploration
The results of the program have delineated major new discoveries in the Burgundy Ridge Copper-Gold-Silver (Cu-Au-Ag) alkalic porphyry trend, as well as new high-grade gold (Au) targets near the historic gold resource at the NW Zone and along the greater 10km long Newmont Lake Gold Corridor along the Mclymont Fault.
The program continues to produce new mineral discoveries on surface on a weekly basis and, two diamond drill rigs are still turning on both the Burgundy Ridge Copper-Gold-Silver System and the Newmont Lake Gold Corridor Trend.
Burgundy Ridge Cu-Au-Ag Alkalic Porphyry
Results from the 2019 surface exploration and diamond drilling program have confirmed the presence of a large Cu-Au-Ag alkalic porphyry trend over an area which includes Burgundy, Telena and the 72 Zone 2.3 kms away.
Crystal Lake is very pleased by the performance of SwiftSure Diamond Drilling as their drill continues to turn on the first ever diamond drill holes at Burgundy Ridge (See images of 2019 diamond drill core from Hole #7 below). Initial results have visually delineated a Cu-Au-Ag porphyry with related high-grade skarn system first sampled in 2012. No significant work was completed past 2014 until Crystal Lake intersected mineralization at depth in a late-season RC drill program in October 2018. (see press release March 7th, 2019). Preliminary interpretations of surface and drill core indicate a large high-grade skarn body adjacent to megacrystic syenite / epidote-garnet hydrothermal breccia porphyry system.
Newmont Lake’s Burgundy Ridge Copper-Gold-Silver Zone Displaying Completed Drill Hole Orientations and Mineralization Showings
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Further drilling approximately 2.3 kilometers to the northeast along the Burgundy – Telena – 72′ Zone trend intercepted new mineralization hosted in potassic/hematite altered intrusions in the form of disseminated, and vein-hosted chalcopyrite + bornite adjacent to historic high-grade Cu-Au-Ag skarn-type mineralization.
Unprecedented ice/snow retreat is exposing new mineral showings on surface along the trend consisting of potassic/hematite altered megacrystic to porphyritic syenites with a variety of chalcopyrite mineralization styles.
Chalcopyrite with minor malachite mineralization dominating the cement of a hydrothermal breccia with K-feldspar altered megacrystic syenite clasts. Assays pending. Image starting at 169m in BRDDH19-013; the 7th diamond drill hole at Burgundy Ridge. Note mineralization is visually high-grade and not representative of the entire hole.
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Massive chalcopyrite mineralization within potassic-altered megacrystic syenite hydrothermal breccia. Assays pending. Image starting at 172m in BRDDH19-013; the 7th diamond drill hole at Burgundy Ridge. Note mineralization is visually high-grade and not representative of the entire hole.
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K-feldspar altered megacrystic syenite with chalcopyrite mineralization found in outcrop at “Rock Island II”; a new showing ~470 meters NE of Burgundy Ridge. Assays pending. Approximate discovery date: August 15th, 2019.
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Chalcopyrite, pyrite, and sphalerite mineralization with potassic altered syenite clasts of a hydrothermal breccia at “Green Rock”; a new showing ~175m south of drill pad “C-2” along the Burgundy Ridge Trend. Assays pending. Approximate discovery date: September 1st, 2019.
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Chalcopyrite mineralization hosted in a potassic, hematite, and carbonate altered porphyritic syenite found at outcrop on “Rock Island I”; a new showing ~700m NE of Burgundy Ridge and ~500m NW of Telena. Assays pending. Approximate discovery date August 10th, 2019.
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Chalcopyrite, chalcocite, and malachite mineralization. Image starting at 77.5m in BRDDH19-001; the 1stdiamond drill hole at Burgundy Ridge. Note mineralization is visually high-grade and not representative of the entire hole. Assays pending.
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Chalcopyrite, chalcocite, and malachite mineralization within k-feldspar altered hydrothermal breccia. Image starting at 282.4m in BRDDH19-004; the 3rd diamond drill hole at Burgundy Ridge. Note mineralization is visually high-grade and not representative of the entire hole. Assays pending.
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Chalcopyrite and pyrite mineralization starting at 197m in BRDDH19-001; the 1st diamond drill hole at Burgundy Ridge. Note mineralization is visually high-grade and not representative of the entire hole. Assays Pending.
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Disseminated chalcopyrite with chalcopyrite and magnetite/hematite mineralization in carbonate veins hosted within potassic altered bimodal syenite. Image starts at 231.4m of STDDH19-006; the 3rddiamond drill hole at 72′ Zone in 2019. This target area is apart of what is believed to be a 2.3km Cu-Au-Ag rich trend including the Burgundy Ridge – Telena – 72′ trend. Note mineralization is visually high-grade and not representative of the entire hole. Assays pending.
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Webby bornite-chalcopyrite and chalcopyrite stringers within hematite altered bimodal syenite. Image starts at 234.3m of STDDH19-006; the 3rd diamond drill hole at 72′ Zone in 2019. Note mineralization is visually high-grade and not representative of the entire hole. Assays pending.
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Disseminated chalcopyrite with chalcopyrite-carbonate veins with shreddy biotite halo hosted in a K-feldspar altered bimodal syenite. Image starts at 240.3m of STDDH19-006; the 3rd diamond drill hole at 72′ Zone in 2019. Note mineralization is visually high-grade and not representative of the entire hole. Assays pending.
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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 of 23.08 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.”
Cautionary Statement of Photo Gallery:
Please note the visualizations are selected images highlighting strong visual mineralization from a variety of new showings and recent diamond drill core. Mineral identification has been determined visually by geologists and cross-referenced via mobile X-ray Fluorescence elemental geochemical techniques (ThermoScientific Niton XL5 pXRF). Portable XRF data is not provided as it is not an indicator of representative geochemistry of the entire rock mass. The reader should also note that while relative spatial information is provided, mineralization is not necessary representative of space between any given location and it should not be assumed that lateral continuity exists. Also note that mineralization in drill core is visually high-grade and should not be considered representative of the entire drill hole. The reader is encouraged to exercise caution, complete their due diligence, and determine their own conclusions with the information provided.
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
Email: info@crystallakemining.com
www.crystallakemining.com
For further information please contact:
MarketSmart Communications
Tel: +1 (604) 261-4466
Toll Free: +1 (877) 261-4466
Email: info@marketsmart.ca
Momentum Public Relations
Tel: +1 (514) 815-7473
Email: mark@momentumpr.com
- Published in Crystal Lake Mining, Mining, News Home
Crystal Lake Extends Burgundy Ridge Discovery to Depth, Adds Second Drill Rig at Newmont Lake Project
Momentum Public Relations
Press Release: August 12th, 2019
Crystal Lake Mining Corporation (TSXV: CLM) (OTC Pink: SIOCF) (FSE: SOG) (“Crystal Lake” or the “Company“) is pleased to announce that shallow mineralization encountered in first-ever drilling at Burgundy Ridge last fall (four reverse circulation test holes, see March 7, 2019 news release) has deep roots, extending well beyond a copper-gold enriched limestone body as maiden diamond drilling continues at this new grassroots discovery in Northwest B.C.’s Eskay Camp.
Multiple intrusive phases, breccias, alteration and mineralization styles have been intersected in each of the three holes completed to date. Significantly, the just-completed third hole of the current diamond drilling program at Burgundy Ridge was the deepest hole yet, completed over a length of 441 meters (vertical depth of 320 meters) as intensity of mineralization increased downhole in a hydrothermal breccia.
Highlights:
- All the right indicating mineralization styles and alterations were visible starting from surface, yet beyond 270 meters the alteration in the third hole intensified and was mineralized with varying amounts of blebby pyrite+chalcopyrite+malachite+copper oxides;
- Beyond 330 meters the hole encountered potassium-enriched hematite-cemented breccias cut by carbonate veins and mineralized with varying amounts of blebby chalcopyrite+pyrite;
- This third hole was collared 450 meters northwest of last year’s RC platforms and drilled toward the southeast. As mineralization appeared to increase in intensity, the hole was extended beyond its planned depth. It proceeded under the ice from about 200 meters and ended in a pyrite zone at a depth of 441 meters.
Drill core is being rushed for assay. Dr. Peter Lightfoot, Crystal Lake Technical Adviser, recently concluded that, “significant and coherent underlying mineralization processes at Burgundy are driven in part by an impressive fluid highway.” (see July 16, 2019 news release).
Crystal Lake Mining’s Burgundy Ridge Map of Maiden Diamond Drilling Layouts – August 12, 2019
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The fourth diamond drill hole at the top of Burgundy Ridge zone has just commenced.
Crystal Lake Targets High-Grade Gold at Northwest Zone
Elsewhere at the 550 sq. km Newmont Lake Project, Crystal Lake has added a second drill rig to target an extension of the historic high-grade Northwest Gold Zone. Hy-Tech Drilling will commence a series of orientated diamond drill holes shortly.
Many areas within and around the historic zone were not sampled by previous operators. Crystal Lake’s team was fortunate to recover an extensive amount of historic boxes of core onsite and an ongoing relogging and resampling program has returned very encouraging results, including 28.7 g/t Au and 3.65 g/t Ag over 0.9 m (207.6m to 298.5m) from 2008 drill hole R08-03 (true width unknown at this time). Historically, this hole showed no high-grade assay results and had been interpreted as closing off the zone on the northeast end. Crystal Lake’s results demonstrate otherwise.
Recently completed geochemical analysis by Crystal Lake already supports the strong potential for an extension of the high-grade system to the northeast. In addition, initial results from an induced polarization (IP) survey carried out by the Company’s geophysics contractor indicate the presence of a chargeability anomaly northeast of the historic zone coincident with the contact between resistive and less resistive lithologies – a prospective area to target new high-grade gold mineralization.
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.
Quality Assurance/Quality Control
Historic core samples from the Northwest Gold Zone were sent to MSA Labs’ preparation facility in Terrace, B.C., where samples were prepared using method PRP-910. Samples were dried, crushed to 2mm, split 250g and pulverized to 85% passing 75 microns. Prepped samples were sent to MSA Labs’ analytical facility in Langley, B.C, where they were analyzed for gold using method FAS-221 (fire assay-AAS finish). Gold assays greater than 100 g/t Au were automatically analyzed using FAS-425 (fire assay with a gravimetric finish). Core samples were analyzed for 53 elements using method IMS-230, multi-element ICP-MS 4-acid digestion, ultra-trace level. Silver assay results greater than 100 g/t Ag and cobalt, copper, nickel, lead and zinc greater than 10,000ppm were automatically analyzed by ore grade method ICF-6.
Crystal Lake Mining conducts its own QA/QC program where five standard reference material pulps, five blank reference material samples and two field duplicates are inserted for every 100 samples when analyzing core samples.
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 Camp in the heart of Northwest B.C.’s prolific Golden Triangle.
On Behalf of the Board of Directors,
CRYSTAL LAKE MINING CORP.
“Richard Savage”
President & CEO
Email: info@crystallakemining.com
www.crystallakemining.com
For further information please contact:
MarketSmart Communications
Tel: +1 (604) 261-4466
Toll Free: +1 (877) 261-4466
Email: info@marketsmart.ca
Momentum Public Relations
Tel: +1 (514) 815-7473
Email: mark@momentumpr.com
- Published in Crystal Lake Mining, Gold, Mining, News Home
Crystal Lake Commences Maiden Diamond Drilling Program at Burgundy Ridge
Momentum Public Relations
Press Release: August 2nd, 2019
Crystal Lake Mining Corporation (TSXV: CLM) (OTC Pink: SIOCF) (FSE: SOG-FF) (“Crystal Lake” or the “Company“) is pleased to report that a first-ever diamond drilling program has commenced at Burgundy Ridge on the western side of the Company’s 550 sq. km Newmont Lake Project in Northwest B.C.’s Eskay Camp.
The first drill hole is a 200-meter step-out to the north of four shallow RC (reverse circulation) drill holes completed last October. A total of 550 meters of RC drilling confirmed that widespread copper-gold-silver-rich surface mineralization at Burgundy Ridge, exposed by a rapidly receding glacier, extends to depth.
Significantly, preliminary data from an induced polarization (IP) survey completed earlier this month shows a chargeable feature at depth, indicative of sulphides, within the footprint of Phase 1 drilling. Well-defined targets are strongly supported by geophysics, geochemistry and hyperspectral geology. Drilling is being carried out by Swiftsure Diamond Drilling Ltd. with one rig.
Richard Savage, Crystal Lake President and CEO, commented: “After months of preparation, geologists are thrilled at the prospect of immediately building on last year’s initial discovery at Burgundy Ridge through RC drilling. The geology is highly compelling and field work in recent weeks has greatly expanded the overall target area at and around Burgundy Ridge.”
CLM Closes Separate Private Placements Totaling $1.29 Million
Crystal Lake has closed two private placements with strategic investors totaling $1,293,042. In the first private placement for gross proceeds of $1,003,042, the Company issued 2,865,834 units at 35 cents per unit with each unit consisting of one common share in the capital of the company and one-half of a share purchase warrant. Each full warrant entitles the holder to purchase one common share of the Company for a period of 24 months from the closing of the offering at an exercise price of 50 cents per share.
In the second private placement for gross proceeds of $290,000, Crystal Lake issued 725,000 flow-through units at 40 cents per unit with each unit consisting of one common share of the Company and one-half of a share purchase warrant. Each full warrant entitles the holder to purchase one common share of the Company for a period of 24 months from the closing of the offering at an exercise price of 60 cents per share.
The private placements are subject to the approval of the TSXV. No finders’ fees are payable and the securities issued are subject to a four-month hold period from the closing date.
Proceeds from the flow-through portion will be used for the Company’s 2019 exploration program at the Newmont Lake Project while proceeds from the hard dollar financing are intended for general working capital purposes.
Qualified Person
The technical information in this news release has been reviewed and approved by Maurizio Napoli, professional geoscientist, VP Exploration for Crystal Lake Mining, and a qualified person responsible for the scientific and technical information contained herein under National Instrument 43-101 standards.
On Behalf of the Board of Directors,
CRYSTAL LAKE MINING CORP.
“Richard Savage”
President & CEO
Email: info@crystallakemining.com
crystallakemining.com
For further information please contact:
MarketSmart Communications
Tel: +1 (604) 261-4466
Toll Free: +1 (877) 261-4466
Email: info@marketsmart.ca
Momentum Public Relations
Tel: +1 (514) 815-7473
Email: mark@momentumpr.com
- Published in Crystal Lake Mining, Mining, News Home
Crystal Lake Amends Agreement with Sassy Resources
Momentum Public Relations
Press Release: July 26, 2019
Crystal Lake Mining Corporation (TSXV: CLM) (OTC Pink: SIOCF) (FSE: SOG-FF) (“Crystal Lake” or the “Company“) announces that, further to its news release of June 25, 2019, the Company has amended the arrangement agreement with its wholly-owned subsidiary, Sassy Resources Corporation, in order to fully align the agreement with U.S. securities laws. Financial terms of the arrangement remain the same. The amended arrangement agreement is dated for reference July 25, 2019, and is available at www.sedar.com under the profile of the Company.
A CEO for Sassy is expected to be announced during the first half of August. Sassy is also launching a first phase of exploration next month at its Foremore claims directly north of Crystal Lake’s Newmont Lake Project in Northwest B.C.’s Eskay Camp.
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
Email: info@crystallakemining.com
www.crystallakemining.com
For further information please contact:
Momentum Public Relations
Tel: +1 (514) 815-7473
Email: mark@momentumpr.com
- Published in Crystal Lake Mining, Mining, News Home