Crystal Lake Outlines Large-Scale Copper-Gold-Rich System at Burgundy Ridge as Crews Prepare for Diamond Drilling
Momentum Public Relations
Press Release: July 16, 2019
Crystal Lake Mining Corporation (TSXV: CLM) (OTC Pink: SIOCF) (FSE: SOG-FF)(“Crystal Lake” or the “Company“) is pleased to announce that its ongoing Phase 1 exploration program has greatly expanded the target area at Burgundy Ridge, the newest drilling discovery in Northwest B.C.’s prolific Eskay Camp based on four shallow first-ever drill holes (reverse circulation) during winter conditions last fall (see March 7, 2019 news release).
Crews will be mobilizing for the maiden diamond drilling program at Burgundy Ridge during the week of July 22 to aggressively broaden this discovery (high-grade copper plus gold, silver, cobalt and zinc) laterally and at depth.
Highlights
- Mapping, prospecting, sampling and hyperspectral analysis have delineated a large 2 km x 2.5 km porphyry and skarn-style system open in multiple directions;
- The Burgundy Ridge system features multiple “hot spots” including a significant new surface discovery 600 metres west-southwest of October’s copper-gold-rich intersections – a k-spar epidote altered and brecciated intrusion containing disseminated copper sulphides in a high temperature alteration zone;
- High-grade mineralization at Burgundy Ridge occurs within breccias and intrusive dykes that are structurally controlled along the margin of a large dolomitic limestone body which has been intruded by a variety of porphyries (a 3-metre chip sample by Romios Gold in 2013, which should not be considered representative of mineralization in the target area, returned 5.1% Cu, 28.5 g/t Au and 89.7 g/t Ag).
Dr. Peter Lightfoot, Crystal Lake Technical Advisor, commented: “The data increasingly suggest that there is large-scale development at Burgundy Ridge of alkaline porphyritic stockwork vein systems with breccias. These are very messy alkalic porphyries – exactly the right type of rocks – and they are associated with carbonate-bearing country rocks.
Crystal Lake Mining’s Technical Advisor Dr. Peter Lightfoot Comments on the ‘impressive fluid highway’ indicative at the Newmont Lake project in the Eskay Camp, British Columbia
To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/6406/46321_75b68f75a44e1a9c_002full.jpg
“Tight correlations between copper and silver, copper and gold, and copper and cobalt are indicative of significant and coherent underlying mineralization processes at Burgundy Ridge, driven in part by an impressive fluid highway,” Dr. Lightfoot concluded.
Newmont Lake Project General Update
Crystal Lake will commence its 2019 drilling at the Burgundy Ridge discovery while highly prospective targets elsewhere throughout the 550 sq. km (55,000 hectare) project, including the newly-defined Chachi Corridor, continue to be systematically explored and advanced with details expected shortly as more data becomes available.
- To date, within the last six weeks, over 4,000 rock and soil samples have been collected throughout the project and have been shipped for assay (includes an intensive chip sampling campaign for hyperspectral vectoring);
- Lithological and alteration mapping on the highest priority prospects has been carried out by 35-year Golden Triangle veteran Marco Vanwermeskerken who mapped the Eskay Creek deposit pre-to-post discovery;
- A broad scale geophysics program, including both ground and airborne methods, will soon be launched by Wolcott & Associates Geophysical Services.
Richard Savage, President and CEO of Crystal Lake, stated: “We are ready to leverage the hard work and expertise of our discovery-driven teams who have done a remarkable job to position shareholders for a summer to remember in the Eskay Camp. We’ve got the right people in the right area at the right time – drilling starts with bullseye targets at Burgundy Ridge to immediately expand the district’s newest discovery.”
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
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
Romios Receives Third $250,000 Option Payment and Appoints a Director on Crystal Lake’s Board
Momentum Public Relations
Press Release: July 8, 2019
Romios Gold Resources Inc. (TSXV: RG) (OTC Pink: RMIOF) (FSE: D4R) (“Romios” or the “Company”) today announced that Crystal Lake Mining Corp. (“CLM“) has made the third $250,000 option payment under the agreement (the “Definitive Agreement”) whereby Romios’ Newmont Lake Property (“Newmont Lake“) has been optioned to CLM. Under the terms of the Definitive Agreement, Romios has appointed Lawrence Roulston as its nominee on CLM’s Board of Directors.
Over the next three years, CLM can earn a 100% working interest in Newmont Lake in consideration for, among other things, issuing to Romios 12 million common shares of CLM, 4 million of which have been received, and paying a further $1 million ($1 million has been received to date) upon CLM earning its 100% interest in Newmont Lake through the expenditure of $8 million on Newmont Lake over a 3-year period. CLM is required to spend $3 million on Newmont Lake by September 20, 2019. Romios retains a 2% Net Smelter Returns Royalty (“2% NSR“) on Newmont Lake, or on any after-acquired claims within a 5 km radius of the current boundaries of Newmont Lake. The 2% NSR may be reduced at any time to a 1% NSR on the payment of $2 million per 0.5% NSR.
If CLM is successful in acquiring Newmont Lake, and in the event an NI-43-101compliant resource estimate is issued in respect of any part of Newmont Lake which exceeds 1 million ounces of gold equivalent resources, Romios will be issued an additional 2 million common shares of CLM. It will also receive an additional 1 million common shares of CLM for each additional1 million ounces of gold equivalent resource on any part of Newmont Lake.
In addition to Newmont Lake, Romios holds approximately 390 sq km in the Golden Triangle area in BC, near the Galore Creek project held by Newmont and Teck Resources. The Company is planning exploration and drilling in the area this summer. Romios has also been conducting exploration and drilling on the Lundmark-Akow Lake Cu-Au-Ag project in northwestern Ontario over the past two months.
- Published in Crystal Lake Mining, Mining
Crystal Lake Announces Signing of Arrangement Agreement to Create Sassy Spinout
Momentum Public Relations
Press Release: June 25, 2019
Crystal Lake Mining Corporation (TSXV: CLM) (OTC PINK: SIOCF) (FSE: SOG-FF) (the “Company” or “Crystal Lake“) is pleased to announce that it has entered into an arrangement agreement dated June 25, 2019, with wholly-owned subsidiary Sassy Resources Corporation (“Sassy Resources” or “Sassy“).
Crystal Lake will transfer to Sassy its Northwest Ontario nickel asset (Nicobat Project), and its Letter of Intent dated June 24, 2019, to acquire the Foremore claims in Northwest B.C.’s Golden Triangle, by way of a plan of arrangement pursuant to the Business Corporations Act of British Columbia. Sassy Resources will become a reporting issuer in the provinces of British Columbia and Alberta upon completion of the arrangement.
Highlights:
- Pursuant to the arrangement, shareholders of Crystal Lake on the Share Distribution Record Date (to be determined) will receive a total of 10 million common shares of Sassy Resources;
- The spinout will keep Crystal Lake strategically focused on its Newmont Lake Project in the prolific Eskay Camp while CLM shareholders as of the record date will get ownership in an attractive new entity aimed at unlocking the value of the Nicobat Project and the Foremore claims;
- Following Crystal Lake shareholder approval and regulatory approvals of the arrangement, Sassy Resources will apply for listing on the TSX Venture Exchange.
Richard Savage, President and CEO of Crystal Lake, commented: “Sassy will have a team and a brand that will excite investors and advance its projects in an efficient and bold way. We look forward to announcing the Sassy CEO in the very near future. Sassy also intends to complete a financing on its own before the completion of the arrangement for general working capital purposes including certain exploration initiatives.”
Nicobat and Foremore
The Nocobat Project consists of the “Emerald Lake” assets, specifically the Iron Property, Farm Property, EL1 and EL5 Properties, and Properties #1, 2, 3, 4, 5, 7 and 8 and Property 6, located in Dobie, Kingsford, Mather, Potts and Tait townships, in the Dogpaw Lake and Heronry Lake areas of Emo, Ontario.
The Letter of Intent with Lorne Warren dated June 24, 2019, includes the Foremore claims covering 145.3 sq. km adjacent to the northern boundary of Crystal Lake’s Newmont Lake Project.
Required Approvals
The arrangement is subject to the approval of the Supreme Court of British Columbia, the approval by the Crystal Lake shareholders at an annual general and special meeting to be held on September 25, 2019 (the “Meeting“), and the approval by TSX Venture Exchange.
Details of the arrangement will be provided in a management information circular that will be mailed to all Crystal Lake shareholders prior to the September 25 Meeting. At the Meeting, shareholders will be asked to vote on a special resolution approving the arrangement, among other resolutions.
The arrangement will be posted on SEDAR under the profile of the Company.
Share Distribution Record Date
The Share Distribution Record Date will be determined by the board of directors of Crystal Lake and will be announced by way of a news release following required approvals. No outstanding warrants or options of Crystal Lake will be exchanged for the warrants or options of Sassy Resources.
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 large Newmont Lake Project 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 PR
Mark Turcotte
Tel: +1 (514) 815-7473
Email: mark@momentumpr.com
- Published in Crystal Lake Mining, Mining, News Home
Crystal Lake Mining Signs Binding LOI to Acquire the Foremore Claims Located to the North of its Newmont Lake Project in Northwest B.C.’s Eskay District
Momentum Public Relations
Press Release: June 24, 2019
Crystal Lake Mining Corporation (TSXV: CLM) (OTC Pink: SIOCF) (FSE: SOG-FF) (the “Company” or “Crystal Lake“) is pleased to announce that it has signed a binding Letter of Intent (“LOI”) to acquire a 100% interest in the Foremore claims located to the northern boundary of the Company’s 551 sq. km Newmont Lake Project in Northwest B.C.’s Eskay Camp.
Figure 1: Crystal Lake Acquires the Foremore claims which are situated directly north of its Newmont Lake Property in the Eskay Creek District of the Golden Triangle, British Columbia
To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/6406/45857_d81e48e8c4d21ba3_003full.jpg
The Foremore claims comprise 143 sq. km (14,300 hectares) and host an abundance of known precious and base metal-rich mineralization including boulder fields and outcrops. Multiple geochemical and geophysical anomalies also exist over a broad area. Drilling last occurred at Foremore in 2008. Since then, snowfields have literally disappeared, opening fresh ground for exploration. The claims are considered highly prospective for new high-grade mineral discoveries.
Richard Savage, Crystal Lake President and CEO, commented: “Acquiring the Foremore claims is a strategic move on the part of the Company in the broader context of district developments. Crystal Lake’s focus this summer is squarely on the high-grade gold potential and copper-gold porphyry potential of the four key zones already identified at the Newmont Lake Project (Northwest Gold zone, Chachi Corridor, Burgundy Ridge and KGO) with crews rapidly progressing to the drilling stage.”
The Deal
Pursuant to the LOI with Lorne Warren (the “Optionor”), the Company has been granted the exclusive right to earn a 100% undivided interest in the Foremore claims (the “Option“). The Company may exercise this right, at its sole discretion, by completing the following:
(a) Within 3 business days following the execution of this LOI, delivering to the Optionor the sum of $10,000 (the “Deposit“). In the event that the acquisition does not close, the deposit shall be immediately returned to the Company.
Making total cash payments of $300,000 over 4 years to the Optionor as follows:
- $50,000 on or before the date that is 3 business days after the date upon which both parties have received approval from the TSX Venture Exchange of this LOI (the “Effective Date“);
- $50,000 on or before the first anniversary of the Effective Date;
- $66,667 on or before the second anniversary of the Effective Date;
- $66,667 on or before the third anniversary of the Effective Date; and
- $66,667 on or before the fourth anniversary of the Effective Date.
(b) Issuing an aggregate of 1,250,000 common shares in the capital of the Company (the “Shares“) to the Optionor over 4 years as follows:
- 250,000 Shares on the Effective Date;
- 250,000 Shares on the first anniversary of the Effective Date;
- 250,000 Shares on the second anniversary of the Effective Date;
- 250,000 Shares on or before the third anniversary of the Effective Date; and
- 250,000 Shares on or before the fourth anniversary of the Effective Date
(c) Incurring exploration expenditures of $1,200,000 (CDN) on the claims over 5 years as follows:
- $150,000 on or before the first anniversary of the Effective Date;
- $150,000 on or before the second anniversary of the Effective Date;
- $300,000 on or before the third anniversary of the Effective Date;
- $300,000 on or before the fourth anniversary of the Effective Date;
- $300,000 on or before the fifth anniversary of the Effective Date.
As of the date of this news release, the Company has made payments to the Optionor in the amount of $60,000.
Upon exercise of the Option, the Optionor will be entitled to a royalty of 3% of net smelter returns. The Company has the right to purchase back the royalty of 2% for $2,000,000 and an additional royalty of 0.5% for $1,000,000.
Investor Relations Agreement
Crystal Lake is also pleased to announce that it has retained the services of Momentum Public Relations Inc. (“Momentum PR”), a Montreal-based investor and media relations agency that provides market awareness through its network of institutional investors, analysts and retail relationships within the North American investment community.
In connection with the engagement, which is subject to TSXV approval, Momentum has been awarded an investor relations contract for an initial term of 12 months expiring April 1, 2020. Pursuant to the terms of the contract, Momentum has been paid a one-time fee of $90,000 CDN + applicable taxes and was granted 500,000 incentive stock options of the Company (separate from the stock options granted below).
Stock Options
Pursuant to its stock option plan, Crystal Lake has granted incentive stock options to its directors, officers, employees and consultants to purchase an aggregate of 760,000 shares at an exercise price of $0.35 cents per share for up to five years.
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 large Newmont Lake Project 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
For further information please contact:
Momentum Public Relations
Mark Turcotte
Tel: +1 (514) 815-7473
Email: mark@momentumpr.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/45857
- Published in Crystal Lake Mining, Mining, News Home
Crystal Lake Mining Becomes Largest Landholder Among Juniors in Broader Eskay Camp
Momentum Public Relations
Press Release: June 20, 2019
Crystal Lake Mining Corporation (TSXV: CLM) (OTC PINK: SIOCF) (FSE: SOG-FF) (“Crystal Lake” or the “Company“) is pleased to announce that it has expanded the size of its Newmont Lake Project by approximately 25% to 551 sq. km (55,100 hectares), making Crystal Lake the largest landholder among junior companies in Northwest British Columbia’s broader Eskay Camp as the 2019 exploration season ramps up.
Highlights:
- The newly-defined Chachi Corridor (see June 12, 2019 news release) has been expanded by the staking of “Chachi East”, 17.5 sq. km of prospective ground straddling the northeast boundary of the Newmont Lake Project;
- On the western side of the project, Crystal Lake has also staked the 74 sq. km “Ridge West” block which represents the possible southwesterly extension of the Burgundy Ridge discovery (see March 7, 2019, news release). A large new gossan zone is exposed on the Ridge West block within Stikine volcanics.
- All new ground (115 sq. km) was acquired by staking, including a series of non-adjoining claims separate from Chachi East and Ridge West totaling 23.3 sq. km.
Maurizio “Mars” Napoli, Crystal Lake’s VP Exploration, commented: “We have managed to gain control of the potential extensions of two large and prospective corridors on the Newmont Lake Property. Vectoring of soil anomalies into Chachi East and the numerous mineral occurrences on Ridge West add to an already impressive land package at the Newmont Lake Project.”
Updated Claims Map Showing Chachi East, Ridge West
Crystal Lake Mining Expands its Newmont Lake Property with the Chachi East and Ridge West Staked Claims
To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/6406/45763_caa5ca73f4d56a96_001full.jpg
Qualified Person
The technical information in this news release has been reviewed and approved by Mr. Maurizio Napoli, P.Geo., 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, now 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
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
Maurizio Napoli Joins Crystal Lake Mining’s Team as Vice-President of Exploration
Momentum Public Relations
Press Release: June 18, 2019
Crystal Lake Mining Corporation (TSXV: CLM) (OTC Pink: SIOCF) (FSE: SOG-FF) (“Crystal Lake” or the “Company“) is pleased to announce the appointment of Maurizio “Mars” Napoli as VP Exploration, effective immediately.
Mars Napoli is an accomplished professional geologist with over 33 years of experience in the mineral exploration business. He began his career studying gold mineralization in Northern Ontario with the Ministry of Northern Development and Mines. Subsequently he worked for 30 years with Inco Ltd. and Vale Canada in the Thompson and Sudbury nickel camps and with their North American and Global Exploration groups exploring for Archean greenstone gold, magmatic-hosted nickel-copper, uranium and porphyry-style copper systems.
“We searched hard for the right candidate and we’re thrilled to have Mars join our team as VP Exploration,” stated Richard Savage, Crystal Lake President and CEO. “His experience with high-grade gold systems and a broad array of other deposit types will help drive our success this summer with the Newmont Lake Project in the Eskay Camp.”
Napoli is an experienced exploration program manager from grassroots and brownfield exploration through to discovery and resource definition. He managed large exploration programs for Vale Canada and Sudbury Basin groups. The exploration teams Mars worked with enjoyed large world-class economic discoveries in Thompson, Sudbury and South America.
“Crystal Lake’s project has so many exciting components to it with multiple discovery opportunities given the historic data I’ve analyzed and the work we’ve already carried out,” stated Napoli. “I’m excited to be part of what I consider to be an exceptional team in the right area at the right time. With state-of-the-art exploration tools at our disposal, and such a prospective large land package, Crystal Lake has quickly become a key player in the Eskay district and the broader Golden Triangle.”
Napoli, who graduated with honours in 1983 and received his Master’s degree from Laurentian University in 2003, is a registered Professional Geologist with the Association of Professional Geologists of Ontario.
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
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
Maurizio Napoli Joins Crystal Lake Mining’s Team as Vice-President of Exploration
Cannot view this image? Visit:
https://orders.newsfilecorp.com/files/6406/45678_maurizio.jpg
- Published in Crystal Lake Mining, Mining, News Home
Crystal Lake Mining’s Discovery Team Outlines Chachi Corridor Copper-Gold Target Area at Newmont Lake Project
Momentum Public Relations
Press Release: June 12, 2019
Crystal Lake Mining Corporation (TSXV: CLM) (OTC PINK: SIOCF) (FSE: SOG-FF) (“Crystal Lake” or the “Company“) is pleased to announce that a large copper-gold porphyry target area, with high-grade gold potential, has been outlined on the eastern side of the Company’s Newmont Lake Project in Northwest B.C.’s Eskay Camp.
The northeast trending Chachi Corridor along the McLymont fault system has a current strike length of greater than 8 km by 3 km wide as defined by an extensive review of historic data including rocks, soils and geophysics. The entire corridor, which features astonishing glacial retreat, is notably underexplored and will be one of several primary areas of focus for the 2019 summer exploration program, now underway.
Location
The Chachi Corridor begins approximately 6 km northeast of the historic Northwest Gold zone (“NW Zone”) and 20 km northeast of Crystal Lake’s recent drilling discovery at Burgundy Ridge (March 7, 2019, news release), underscoring both the scale and potential of the entire 430 sq. km Newmont Lake Project located in the heart of the Golden Triangle.
A broad and flat glacial valley ranging in elevation from 500 to 700 meters begins at the northeast tip of the Chachi Corridor and continues in a straight direction northeastward for approximately 20 km to the Galore Creek access road west of the Bob Quinn Airstrip. Additionally, infrastructure and access to the southern portion of the Newmont Lake Project have recently been upgraded with the completion and power production of AltaGas’ Northwest Hydroelectric facilities, including the 66-MW McLymont Creek power plant which sits at the southern tip of Crystal Lake’s land package 15 km northwest of Nickel Mountain.
Location of Crystal Lake Mining’s Newmont Lake Project in the prolific Eskay Mining Camp of Northwest BC, Canada
To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/6406/45530_7a9c6af784f39848_001full.jpg
Glacial Retreat Opens Corridor
Based on cross referencing old and new satellite imagery and orthographic photos, glacial retreat of approximately 2 to 4 kilometers has occurred within the Chachi Corridor since parts of it were last explored with “boots on the ground” in 2008. Widespread surface alteration, intrusive bodies and other geological features consistent with large-scale porphyry copper-gold and associated shear vein gold and/or carbonate replacement gold systems are apparent in the geochemical data compilation. This plus the newly exposed prospective ground makes the entire Chachi Corridor a high-priority target.
Satellite image showing the extent of glacial retreat along Chachi Corridor from 2002 to 2018
To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/6406/45530_7a9c6af784f39848_002full.jpg
Chachi Corridor Additional Highlights:
- Three separate intense geochemical anomalies (copper, gold and silver), vectoring into vast unexplored and highly altered terrain, covering an area greater than 8 km by 3 km;
- An approximate 3 km gossanous zone is adjacent to a cluster of dioritic and syenitic intrusions (typical intrusion types to host large porphyry systems and mineral occurrences in this region), all spatially associated with the McLymont Fault system of extensional tectonics in the region;
- A radiometric age-dating study at the University of British Columbia (“UBC”) concluded late Triassic ages of 203.1 ± 2.0 Ma to 214.1 ± 2.0 Ma on two sampled intrusions to date in the Chachi Corridor, which puts a copper-gold porphyry system in the Corridor remarkably similar in age to the Newmont/Teck Galore Creek/Copper Canyon deposits approximately 40 km to the northwest (Assessment Report #30749, B.C. Geological Survey);
- Limited historic rock sampling (late 1980’s) over a strike length of 1 km from an interpreted epithermal area on the eastern side of the Chachi Corridor returned values ranging from anomalous to 14.2 g/t Au, with 8 of the 28 samples grading >8 g/t Au (Assessment Report #18450).
Richard Savage, President and CEO of Crystal Lake, commented: “The right people, the right area, the right time – we’ve assembled an amazing team that’s planning an expansive initial exploration program that will be systematic and discovery-driven, applying state-of-the-art exploration technologies.”
Chachi Phase 1 Exploration Program
A team of approximately 20 people at any given time will be exploring and validating the Chachi Corridor. A Phase 1 program consisting of extensive prospecting, lithological and alteration mapping, airborne and ground geophysics, and geochemical and alteration vectoring using the latest in-field mobile hyperspectral and X-ray Fluorescence (“XRF”) technology should quickly define priority targets for drill testing this summer.
Corporate Update
Crystal Lake Mining is currently in the process of rebranding and building its new investor website, corporate presentation, geological and investor maps and more. To find out more about the company and to be notified when these items are available, email info@crystallakemining.com or sign-up on our current website to receive all email alerts.
Qualified Person
The technical information in this news release has been reviewed and approved by Mr. Abdul Razique, PhD., P.Geo., a Qualified Person responsible for the scientific and technical information in this news release 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.
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.
On Behalf of the Board of Directors,
CRYSTAL LAKE MINING CORP.
“Richard Savage”
President & CEO
Email: info@crystallakemining.com
Website: www.crystallakeminingcorp.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
Crystal Lake Mining – A Golden Team
Momentum Public Relations
Original Source: Junior Gold Report
I have been in the junior mining field writing my newsletter for over eighteen years. During that time, I have met a whole assortment of people and I’ve seen my share of arrogant so-called leaders. I’ve been on the ego see-saw, trying to balance out what the actual story is versus whatever nonsense the guy either on the top or in the IR department is trying to sell me. I am one that always tries to see the goodness in people.
Fortunately, I have learned a bit or two about the poker hands people try to represent, but as we all do, I still get bluffed. The key is recognizing the bluffers from the winners which is tricky to do in any poker game, let alone in junior mining.
Along comes Crystal Lake Mining (TSXV: CLM) and the see-saw starts to balance – very refreshing. Some weeks ago, when the company’s stock was trading around .30/share, I alerted my readers that I would be initiating coverage. Crystal Lake is a junior exploration company based in British Columbia with one of the largest land packages in the red hot Eskay district in the heart of the famous Golden Triangle region.
Recently, I was invited along with many members of the team to Vancouver to network and attend the presentation. I have always found that direct experience is a better way to judge how a company operates than merely considering what I’ve been told in a phone call or what’s on the internet. That is why with every sponsor/client, I insist on spending time with management and seeing the property.
The Crystal Lake team led by Richard Savage, President/CEO is an inclusive, genuine team who are down-to-earth and all-around a great group to be involved with. There was no poker face, they showed their hand right on the flop.
Richard started his career as an Investment Advisor in Yorkton Securities which later became Richardson GMP, remaining there for 28 years. Based on the time I spent with Richard, I believe him to be a man of commitment and integrity. His passion for children charities really reflects the kind of person that he is. We spoke at great length about the importance of giving back and how we can help each other’s causes in helping others.
The event in Vancouver was top-notch. Around 50 people attended the four-hour very informative Saturday morning presentation. There were various other networking activities, all planned and carried out with precision.
They have a real winner heading up Investor Relations in Sean Kingsley whom I’ve known for many years. He is on the cover of Public Entrepreneur, Special PDAC Edition as one of the New Faces of Mining. He brings a vast amount of investor relations experience and he lives and breathes mining.
The junior mining industry is very intricate, like a giant jigsaw puzzle where all the pieces have to connect in just the right way. It took me many years to figure out how a whole mining project is connected and am still learning. Yes location is key, but you also have to look at the operations behind the drilling and exploration and you need to consider the team as a whole – the management, drillers, geologists, marketing team etc.
In their property negotiations, Crystal Lake obtained what seems to be a stellar deal, in particular, with the Newmont Lake project in the Golden Triangle Region, which seems to be the most intriguing project out of the three main ones that Crystal Lake is currently managing.
According to Dr. Peter C. Lightfoot, Technical Advisor for Crystal Lake,
“There are vast tracts of unexplored and underexplored ground within the Newmont Lake Project to feed an already large pipeline of quality targets rarely seen on one property. This has me and our discovery team extremely excited for 209.1”[1]
Investors always hope for a royal flush type of a hole, but one mammoth hole is usually not a determinant of a long-term successful drill program. You have to have a series of successful holes that show the potential advancement of the project.
In initial drilling undertaken at Burgundy Ridge (part of the Newmont project) in the fall of 2018, the holes suggest that there exists intervals of copper-rich mineralization with gold and silver.
Drilling should commence in early summer after the snow melts, but of course, Mother Nature may have some say in this.
No matter what cards Crystal Lake is holding, the investors should not be bored as they await the drill results.
Currently, resource stocks are not considered sexy as they were in 2010/2011. A big discovery could very well change that. The potential is here which would make Justin Timberlake proud.
In the next little while, I expect to be putting on my stomping boots again and visiting the project.
In summary, I will say this. It is easy to criticize but it can be hard to praise – especially when praise is called for. In my case, some of this comes from my experiences of rarely meeting a President who actually listens and puts the team first. In fact, I’m pretty used to being introduced/speaking with President’s who feel like they know-it-all, when their hold cards are just a deuce and seven. Richard Savage exemplifies the complete opposite of this and any company that knows its’ worth would be wise to follow his directorial method.
I took away from my time in Vancouver that Crystal Lake has compiled a great team of people and that their interest for the stockholders seems to be a genuine priority. That integrity along with a phenomenal exploration plan and the right experts, in my opinion, is a recipe for potential high success.
To be rewarded in buying mining shares, it is generally prudent to invest before the drill results are released on a property with amazing potential. Although no one can guarantee the performance of any stock, the risk reward ratio seems to be favourable in this particular case.
I know a good possibility when I see it. Some have even listened to me. With cautious optimism and great enthusiasm, I am involved with Crystal Lake Mining that has one of the best management teams I have ever seen along with one of the best stories I have heard in many years. They seem to be dealt pocket aces that may very well hold up on the river.
Crystal Lake Mining is a sponsor.
As always, do your due diligence.
Happy Investing!
Dr. Kal Kotecha
TO JOIN OUR FREE NEWSLETTER PLEASE VISIT: WWW.JUNIORGOLDREPORT.COM AND WWW.STOCKTRENDSREPORT.COM
[1] https://www.crystallakeminingcorp.com/projects/listing/2/Newmont-Lake-Property/
Stock Trends Report/Junior Gold Report Newsletter and website: Stock Trends Report Newsletter/Junior Gold Report Newsletter and website is published as a copyright publication of Stock Trends Report/Junior Gold Report (STR). No Guarantee as to Content: Although STR attempts to research thoroughly and present information based on sources we believe to be reliable, there are no guarantees as to the accuracy or completeness of the information contained herein (newsletter and website). Any statements expressed are subject to change without notice. It may contain errors and you should not make any investment decisions based on what you have read on here. STR, its associates, authors, and affiliates are not responsible for errors or omissions. By accessing the site and receiving this email, you accept and agree to be bound by and comply with the terms and conditions as set out herein. If you do not accept and agree to the terms you should not use the Stock Trends Report site or accept this email. Consideration for Services: STR, it’s editor, affiliates, associates, partners, family members, or contractors have currently an interest or position in the Crystal Lake mining, as well as other sponsored companies which compensate STR. As such our opinions should be viewed as being biased. We hold options in and trade these stocks of the companies we profile and as such our opinions are biased. STR and its’ owner and affiliates/associates may buy/sell and trade the featured companies from time to time. STR has been paid by Crystal Lake Mining. Thus, multiple conflicts of interest exist. Therefore, information provided here within should not be construed as a financial analysis but rather as an advertisement. Conduct your own due diligence: The author’s views and opinions regarding the companies featured in report(s) are his/her own views and are based on information that he/she has researched independently and has received, which the author assumes to be reliable. You should never base any buying/selling/trading decisions off of our emails, newsletter, website, videos or any of our published materials. STR aims to provide information and often stock ideas but are by no means recommendations. The ideas and companies featured are highly speculative and you could lose your entire investment – consult a licensed financial advisor if you are considering investing in any of the featured companies. Subscribers/readers are encouraged to conduct their own research and due diligence. The companies mentioned are high risk and considered penny stocks that contain a high risk of volatility, therefore consult your investment advisor and do your own due diligence before purchasing. Never base any investment decision on information contained from our emails, newsletter, website, videos or any of our published materials. No Offer to Sell Securities: STR is not a registered broker dealer, investment advisor, financial analyst, stock picker, investment banker or other investment professional. STR is intended for informational, educational and research purposes only. It is not to be considered as investment advice. No statement or expression of any opinions contained in this report constitutes an offer to buy or sell the shares of the companies mentioned herein. Links: STR may contain links to related websites for stock quotes, charts, etc. STR is not responsible for the content of or the privacy practices of these sites. Information contained herein was extracted from public filings, profiled company websites, and other publicly available sources deemed reliable. Information in this report was taken on or before writing and dissemination and may not be updated. Do you own due diligence as information and events can and do change. Published reports may reference company websites or link to company websites and we disclaim and responsibility for the content and accuracy of any such information or website. Release of Liability: By reading the newsletter/website and/or watching videos by STR, you agree to hold STR, its associates, sponsors, affiliates, and partners harmless and to completely release them from any and all liabilities due to any and all losses, damages, or injuries (financial or otherwise) that may be incurred.
Forward Looking Statements
Except for statements of historical fact, certain information contained herein constitutes forward-looking statements. Forward looking statements are usually identified by the use of certain terminology, including “will”, “believes”, “may”, “expects”, “should”, “seeks”, “anticipates”, “has potential to”, or “intends’ or by discussions of strategy, forward looking numbers or intentions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results or achievements to be materially different from any future results or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts, and include but are not limited to, estimates and their underlying assumptions; statements regarding plans, objectives and expectations with respect to the effectiveness of the Company’s business model; future operations, products and services; the impact of regulatory initiatives on the Company’s operations; the size of and opportunities related to the market for the Company’s products; general industry and macroeconomic growth rates; expectations related to possible joint and/or strategic ventures and statements regarding future performance. Stock Trends Report does not take responsibility for the accuracy of forward looking statements and advises the reader to perform their own due diligence on forward looking numbers or statements.
- Published in Crystal Lake Mining, Mining, News Home
Crystal Lake Maiden Drilling at Burgundy Ridge Confirms Copper-Rich New Discovery
Momentum Public Relations
Press Release: March 8, 2019
Crystal Lake Mining Corporation (TSXV: CLM, the “Company” or “CrystalLake“), is pleased to announce that results from first-ever drilling last fall at Burgundy Ridge confirm a new grassroots discovery in the footprint of approximately two dozen showings and mineral zones at the Company’s 430 sq. km Newmont Lake Project northwest of Eskay Creek.
Widespread surface mineralization at Burgundy Ridge extends to depth, including 2.6% copper between 118 meters and 119.5 meters in the fourth and final shallow hole, in a multi-element copper-rich porphyry-skarn system.
Burgundy Ridge is now believed to be part of a >3 km-long northeast trending mineral corridor situated west of a series of under-explored high-grade gold occurrences and targets, along with the historic Northwest gold zone. Importantly, all of these mineral zones and associated host rocks are within a graben structure bounded by the 20-km-long McLymont Fault. This makes the Newmont Lake Project a highly favorable geological environment for new discoveries.
Reverse circulation (RC) first-pass drilling of four shallow holes totaling 550 meters was completed from one set-up at the top of Burgundy Ridge as restrictive winter conditions set in at an elevation of approximately 1,900 meters.
Highlights:
- Final hole of program (BRRC18-004) cut 58 meters @ 0.31% Cu and 0.27 g/t Au starting from surface, followed by a 1.5-meter interval grading 2.60% Cu from 118m to 119.5m;
- Each hole intersected copper-rich mineralization, with gold and silver, associated with intense and widespread “skarn style” alteration of the multi-phase intrusions and immediate host rocks;
- Evidence suggests that mineralization strengthens with depth;
- Drilling confirmed a previously unmapped and well-endowed intermediate intrusive rock consisting of pervasive chalcopyrite blebs and fine-grained disseminated bornite mineralization.
Richard Savage, President and CEO, commented: “The cover has been lifted off Burgundy Ridge with geologists fascinated by their first look at what’s below surface at a dynamic target that not long ago was completely hidden by snow and ice.
“To have hit on each hole in maiden drilling during extremely challenging conditions last fall, confirming a new early stage discovery high in the system in this prolific district, gives us a huge edge entering our 2019 diamond drilling program and sets the table for a potential major new find,” Savage concluded.
High-Energy Mineralized System
Impressive surface alteration and mineralization at Burgundy Ridge, exposed by a rapidly receding glacier, has been mapped over several hundred meters and is now known to extend to depth following first-ever drilling. This new discovery is on trend with the ’72 Zone, Telena and Andrei targets which show similar characteristics as Burgundy Ridge based on mapping, surface sampling and geophysics. All areas will be explored aggressively in 2019.
Multiple surface targets exist at Burgundy Ridge including a lower elevation higher-grade zone, identified through sampling, providing ample additional discovery opportunities in 2019 as glacial retreat accelerates and diamond drilling tests this mineralized system over a broader area and at much greater depths.
Tight correlations between copper and silver, copper and gold, and copper and cobalt are indicative of a coherent style of mineralization created through a systematic process, elevating the potential of the Burgundy Ridge system. Meanwhile, the copper-gold rich skarn at the interface between mineralized intrusions and carbonate rocks at Burgundy Ridge reflects a higher fluid-rock ratio typical of proximal skarn along a porphyry system. Zoned calc-silicate skarns are commonly formed from fluids associated with very large porphyry systems.
Significant assay results – Burgundy Ridge RC holes 1 through 4*
Hole |
From |
To |
Interval |
Cu |
Au |
Ag |
Co |
Zn |
(m) |
(m) |
(%) |
(g/t) |
(%) |
(%) |
(%) |
||
BRRC18-004 |
0.0 |
58.5 |
58.5 |
0.31 |
0.27 |
1.41 |
– |
– |
and |
118.0 |
119.5 |
1.5 |
2.60 |
0.03 |
16.70 |
0.011 |
0.44 |
BRRC18-003 |
22.0 |
47.9 |
25.9 |
0.4 |
0.10 |
2.25 |
– |
– |
including |
41.8 |
43.3 |
1.5 |
1.41 |
0.20 |
7.50 |
0.021 |
0.04 |
and |
66.0 |
69.0 |
3.0 |
0.65 |
0.47 |
11.76 |
– |
0.96 |
including |
66.0 |
67.5 |
1.5 |
1.05 |
0.84 |
18.80 |
0.014 |
1.19 |
BRRC18-002 |
1.5 |
17.4 |
16.1 |
0.34 |
0.17 |
2.54 |
– |
– |
BRRC18-001 |
5.2 |
15.9 |
10.7 |
0.41 |
0.32 |
2.70 |
– |
– |
and |
49.4 |
55.5 |
6.1 |
0.68 |
0.22 |
3.97 |
– |
1.55 |
including |
49.4 |
52.4 |
3.0 |
1.16 |
0.23 |
9.50 |
0.020 |
2.85 |
*True widths cannot be determined with the information and data currently available |
Drill hole co-ordinates
Drill Hole |
Easting (mE) |
Northing (mN) |
Elevation (m) |
Depth (m) |
Azimuth (°) |
Dip (°) |
BRRC18-01 |
374976 |
6303130 |
1828 |
150 |
135 |
-60 |
BRRC18-02 |
374976 |
6303130 |
1828 |
100 |
315 |
-60 |
BRRC18-03 |
374976 |
6303130 |
1828 |
150 |
315 |
-75 |
BRRC18-04 |
374976 |
6303130 |
1828 |
150 |
135 |
-75 |
Newmont Lake Project
Crystal Lake has an option to earn a 100% interest in the Newmont Lake Project from Romios Gold Resources (TSXV: RG) – refer to February 25, 2019, news release.
QA/QC Statement on Assay Results
Crystal Lake employed rigorous Quality Assurance and Quality Control (QAQC) protocols in line with best industry standards and practices for geochemical analysis. In the field, three rotating standards and a blank were inserted every 25th sample. Three types of standards were purchased from Ore Research & Exploration Laboratories Pty Ltd (ORE). A common granite-gravel aggregate was used as a blank. Additionally, MS Analytical used in-house blanks, and added two sets of duplicates to further improve the QAQC methodology. Two aggregate blanks were analyzed before each hole to ensure proper cleaning between sample batches. Up to six duplicates per hole were used to test FAS-211, ICP-240 and IMS-230 assay results. Both reject and pulp duplicate tests were performed.
Samples were prepared at MS Analytical in Terrace, BC, using PPU-510 (Pulverize 250g to 85% passing 75-micron) due to the lack of crushing required for RC chips. The sample pulps were then transported to MS Analytical Laboratory in Langley, BC, for geochemical analysis. A FAS-211 analysis (Gold by Fire Assay and AAS finish) was used with detection up to 100 ppm with an over limit analysis FAS-415 (Detection up to 1000 ppm). Gold is reported in parts per million (ppm) equivalent to grams per tonne (g/t). ICP-240 analysis was used as a 33-element ore-grade geochemistry method, therefore no over limit analysis was necessary (four-acid digestion with ICPES finish). These analytical results are reported in percentage apart from silver (Ag), which is reported as parts per million (ppm). Silver analysis was retested using IMS-230 to provide a lower detection limit of 0.01 ppm to ensure accurate findings.
Qualified Person
The technical information in this news release has been reviewed and approved by Mr. Adbul Razique, PhD., P.Geo., a Qualified Person responsible for the scientific and technical information in this news release 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 of Crystal Lake Mining Corporation
Richard Savage, President & CEO
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.
SOURCE Crystal Lake Mining Corporation
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/March2019/07/c3943.html
Contact:
MarketSmart Communications Inc., Tel: +1 (604) 261-4466, Toll free: 1-877- 261-4466, Email: info@marketsmart.ca; Momentum PR, Tel: +1 (514) 815-7473, Email: mark@momentumpr.com
- Published in Crystal Lake Mining, Mining, News Home
Crystal Lake gets approval for option agreement for Newmont Lake project
Momentum Public Relations
Press Release: February 25, 2019
The TSX Venture Exchange has accepted for filing a mineral property option agreement dated for reference Nov. 29, 2018, between Crystal Lake Mining Corp. and Romios Gold Resources Inc. The option agreement was approved on February 22, 2019. Under the agreement, Romios has agreed to grant Crystal Lake an option to acquire up to a 100-per-cent interest in the Newmont Lake project located in British Columbia.
In order to exercise the option Crystal Lake must:
- Complete $8-million in exploration expenditures on the Newmont Lake project over the next three years ($3-million in the first year and $2.5-million in each the second and third years);
- Pay $2-million in cash to Romios as follows: $250,000 on signing of agreement (paid) and a further $250,000 payable on each of 90 days, 180 days and 270 days following exchange approval of the transaction, with a final $1-million payment upon Crystal Lake earning its 100-per-cent interest in the Newmont Lake project;
- Issue a total of 12 million common shares of Crystal Lake to Romios over a three-year period as to four million each year, with the first four million shares to be issued following exchange approval of the transaction. The Company is issuing the first tranche of 4,000,000 shares to Romios having a legend of a six month hold period on the first 1,000,000 shares and a twelve month hold period on the balance of 3,000,000 shares.
Romios will retain a 2-per-cent net smelter return royalty on the Newmont Lake project, or on any after acquired claims within a five-kilometre radius of the current boundary of the project, which may be reduced at any time to a 1-per-cent NSR on the payment of $2-million by Crystal Lake per 0.5 per cent of the NSR. Crystal Lake will issue two million shares to Romios in the event that a National Instrument 43-101 technical report on the Newmont Lake project contains a resource estimate which exceeds one million ounces of gold equivalent resources (being the sum of indicated and inferred). Crystal Lake will issue an additional one million shares to Romios for each full one million additional ounces of gold equivalent resources so documented in a National Instrument 43-101 technical report on the Newmont Lake project.
About the Company
Crystal Lake Mining Corporation is a mineral exploration/Development company focused on creating value through the exploration and development of its British Columbia and Ontario mineral properties.
We seek Safe Harbor.
- Published in Crystal Lake Mining, Mining, News Home