Crystal Lake Mining Announces Discovery Hole, High-Grade Nickel-Copper-Cobalt in Northwest Ontario
Momentum Public Relations
Press Release: October 17, 2017
Vancouver, British Columbia–(Newsfile Corp. – March 31, 2017) – Crystal Lake Mining (TSXV: CLM) (OTC Pink: SIOCF) has announced discovery hole, high-grade nickel-copper-cobalt results from its flagship EL1 drill project, located near the town of Emo, in northwestern Ontario, approximately 35 kilometers northwest of Fort Frances, directly north of Minnesota.
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The property, hosting the company’s principal exploration target, contains polymetallic nickel-copper-platinum group metal sulphides hosted within a mafic norite intrusion, referred to as the Emo Complex or Dobie Intrusion, is one of several optioned by Crystal Lake
Historic drilling from the period beginning in the 1950’s to 1972, outlined a mafic intrusive mineralized zone measuring 335 metres in a north-south direction, 275 metres in width, and 305 metres explored depth, with a predicted plunge of 30 to 45 degrees north. Based on historical, non-NI 43-101 compliant drilling of 220 short drill holes, Chibtown Copper Corporation reported indicated reserves of 4.8 million tonnes grading 0.28{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} copper, 0.24{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} nickel, and 0.05{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} cobalt.
While the property was not considered economic at the time, Crystal Lake was attracted by the disseminated mineralization containing higher-grade parallel north-trending lenses or “shoots”, with historic drilling indicating widths of 4.3 metres to 12.2 metres. One such shoot was estimated to contain 204,000 tonnes grading 0.65{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} copper and 0.87{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} nickel. A total of 7 such shoots were identified but not similarly documented as to tonnage or grade.
In late 2015 the company drilled 10 holes totalling 6,100 feet. An intersection from surface to 63.75 metres in one hole, returned a weighted average of 1.05{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} nickel and 2.18{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} copper, confirmed the existence of high-grade copper-nickel shoots, which are considerably better than previously recorded in the historical drilling. Of significance, the bottom 9.8 metre section averaged 1.92{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} nickel, 0.17{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} copper and 0.132{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} cobalt.
The company is headed by President & CEO Wally Boguski, who brings more than 30-years experience in the mining and banking industry, having worked on several mining projects in Canada and Mexico. Wally has been involved in strategic development planning and in capital market financing of early stage mining companies for the past 24 years.
Management stated: “An independent review and interpretation of current exploration data on the EL1 Project leads us to believe that the documented mafic intrusion exhibits the potential for significantly higher grade copper-nickel-bearing mineralization at depth. Our work in this area appears to be justified and well-focused. Our encouraging results indicate that we are on the right path and we feel that there exists considerable potential for success.”
The free-hold 170-acre farm property includes a 4-bedroom house and out buildings suitable for storing equipment, which the company will use as a field base for its Ontario Iron Ore operations.
The shares last traded at $0.26, and with 48.5 million shares outstanding, the company is capitalized at $12.6 million. For more information please visit the company’s website www.CrystalLakeMiningCorp.com or contact the company at 250-766-1517 or email info@CrystalLakeMiningCorp.com. Investor relations is handled by RAMA Communications, who can be reached at 250-899-4889 or by email at ramacommu@gmail.com.
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- Published in Crystal Lake Mining, Mining, News Home
Crystal Lake amends deals for four Ontario properties
Momentum Public Relations
Press Release: October 5, 2017
Mr. Alphonse Ruggiero reports
PROPERTY ACQUISITIONS FINALIZED
Pursuant to a right of first refusal, Crystal Lake Mining Corp. has entered into an amended purchase agreement dated Jan. 20, 2017, with Emerald Lake Development Corp. (ELD).
The Company will acquire a One Hundred (100 ) percent interest in the mineral rights hosted by the properties known as Property #1 Property #5, Property #7 and Property #8, located near Emo, Ontario.
The 4 separate prospective claim blocks have similar geological characteristics to the EL1 and EL5 property blocks which the Company currently holds under option, targeting Ni, Cu, Co, PGM’s and massive sulphides.
In addition, after further due diligence the Company has exercised its option and entered into an agreement to also acquire Property #2 and Property #4 (see press release dated September 30, 2016), also located near Emo.
In order to complete the acquisition of the 6 separate and highly prospective claim blocks, the Company will issue a total of 10,500,000 common shares to ELDC for a 100 interest in the properties. ELDC has agreed to an 18 month voluntary hold period on the issued shares.
The company shall also pay to ELDC the sum of CDN$50,000 upon closing of its next majority equity financing. An amended royalty of 2 of net smelter returns shall be payable to ELD upon the commencement of commercial production from any of the noted properties – 1 may be purchased $1 million dollars. This acquisition remains subject to TSXV approval.
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.
© 2017 Canjex Publishing Ltd. All rights reserved.
- Published in Crystal Lake Mining, Mining, News Home
Crystal Lake Mining Announces Discovery Hole, High-Grade Nickel-Copper-Cobalt in Northwest Ontario
Momentum Public Relations
Press Release: March 31, 2017
Vancouver, British Columbia–(Newsfile Corp. – March 31, 2017) – Crystal Lake Mining (TSXV: CLM) (OTC Pink: SIOCF) has announced discovery hole, high-grade nickel-copper-cobalt results from its flagship EL1 drill project, located near the town of Emo, in northwestern Ontario, approximately 35 kilometers northwest of Fort Frances, directly north of Minnesota.
InvestmentPitch.com has produced a “video” which discusses this news. If this link is not enabled, please visit www.InvestmentPitch.com and enter “Crystal Lake” in the search box. The video is also available of YouTube (click here).
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The property, hosting the company’s principal exploration target, contains polymetallic nickel-copper-platinum group metal sulphides hosted within a mafic norite intrusion, referred to as the Emo Complex or Dobie Intrusion, is one of several optioned by Crystal Lake
Historic drilling from the period beginning in the 1950’s to 1972, outlined a mafic intrusive mineralized zone measuring 335 metres in a north-south direction, 275 metres in width, and 305 metres explored depth, with a predicted plunge of 30 to 45 degrees north. Based on historical, non-NI 43-101 compliant drilling of 220 short drill holes, Chibtown Copper Corporation reported indicated reserves of 4.8 million tonnes grading 0.28{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} copper, 0.24{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} nickel, and 0.05{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} cobalt.
While the property was not considered economic at the time, Crystal Lake was attracted by the disseminated mineralization containing higher-grade parallel north-trending lenses or “shoots”, with historic drilling indicating widths of 4.3 metres to 12.2 metres. One such shoot was estimated to contain 204,000 tonnes grading 0.65{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} copper and 0.87{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} nickel. A total of 7 such shoots were identified but not similarly documented as to tonnage or grade.
In late 2015 the company drilled 10 holes totalling 6,100 feet. An intersection from surface to 63.75 metres in one hole, returned a weighted average of 1.05{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} nickel and 2.18{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} copper, confirmed the existence of high-grade copper-nickel shoots, which are considerably better than previously recorded in the historical drilling. Of significance, the bottom 9.8 metre section averaged 1.92{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} nickel, 0.17{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} copper and 0.132{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} cobalt.
The company is headed by President & CEO Wally Boguski, who brings more than 30-years experience in the mining and banking industry, having worked on several mining projects in Canada and Mexico. Wally has been involved in strategic development planning and in capital market financing of early stage mining companies for the past 24 years.
Management stated: “An independent review and interpretation of current exploration data on the EL1 Project leads us to believe that the documented mafic intrusion exhibits the potential for significantly higher grade copper-nickel-bearing mineralization at depth. Our work in this area appears to be justified and well-focused. Our encouraging results indicate that we are on the right path and we feel that there exists considerable potential for success.”
The free-hold 170-acre farm property includes a 4-bedroom house and out buildings suitable for storing equipment, which the company will use as a field base for its Ontario Iron Ore operations.
The shares last traded at $0.26, and with 48.5 million shares outstanding, the company is capitalized at $12.6 million. For more information please visit the company’s website www.CrystalLakeMiningCorp.com or contact the company at 250-766-1517 or email info@CrystalLakeMiningCorp.com. Investor relations is handled by RAMA Communications, who can be reached at 250-899-4889 or by email at ramacommu@gmail.com.
About InvestmentPitch Media
Investmentpitch Media leverages the power of video, which together with its extensive distribution, positions a company’s story ahead of the 1,000’s of companies seeking awareness and funding from the financial community. The company specializes in producing short videos based on significant news releases, research reports and other content of interest to investors.
CONTACT:
InvestmentPitch Media
Barry Morgan, CFO
bmorgan@investmentpitch.com
- Published in Crystal Lake Mining, Mining, News Home
Crystal Lake Drills Discovery Hole – High-Grade Nickel-Copper-Cobalt Mineralization on EL1 Property
Momentum Public Relations
Press Release: March 30, 2017
VANCOUVER, March 30, 2017 /CNW/ – Crystal Lake Mining Corporation (TSX-V: “CLM”) (“Crystal Lake” or the “Company”) is pleased to announce results from a drill project carried out on its optioned property in NW Ontario (the “EL1 Property”).
The EL1 Property is one of several optioned by Crystal Lake but is the flagship project that hosts the principal exploration target containing polymetallic Ni–Cu–PGM sulphides hosted within a mafic norite intrusion referred to as the Emo Complex or Dobie Intrusion.
Historical drilling from the period beginning in the 1950’s to 1972 outlined a mafic intrusive mineralized zone measuring 335m in N-S strike direction, 275m in width, and 305m explored depth with a predicted plunge of 30 to 45 degrees north. Stratmat Limited (1956) reported a potential resource of 6.4 million tonnes of polymetallic sulphides. Chibtown Copper Corporation (1966) reported “indicated reserves” of 4.8 million tonnes grading 0.28{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Cu, 0.24{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Ni, 0.05{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Co. The mineralized body was defined from historical drilling of 220 short drill holes. Both Stratmat Limited and Chibtown Copper Corporation were well respected junior miners listed on the Toronto Exchange at the time of disclosure and supervised the drill programs. Key assumptions and methods used to prepare the historical estimates are not known but both would likely be categorized today as “inferred” resources. Since those dates there have been no further or more recent estimates. As the original data is no longer available the ground would have to be redrilled should Crystal Lake wish to provide its investors with a resource calculation. No work has been carried out by the Company to classify the historical estimates as current mineral resources nor is the Company treating the historical estimates as a current mineral resource.
While not considered economic at the time what attracted Crystal Lake is that the disseminated mineralization contains higher-grade parallel north-trending lenses (also referred to as shoots) with historic drilling indicating widths of 4.3m to 12.2m. One such shoot was estimated to contain 204,000 tonnes grading 0.65{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Cu and 0.87{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Ni. A total of seven such shoots were identified but not similarly documented as to tonnage or grade. Again, no work has been carried out by the Company to classify this historical estimate as current mineral resources nor is the Company treating the historical estimate of one such shoot as a current mineral resource. The exploration model developed by Crystal Mining’s partner Emerald Lake Development Corp., is to explore for massive sulphide bodies which may occur below the disseminated low-grade copper-nickel-cobalt mineralization.
In late 2015 the Company drilled in total 6,100 feet (1,860 meters) in 10 holes. One drill hole (A-04-15) confirmed that high-grade copper-nickel shoots do exist and are considerably better than previously recorded in the historical drilling. Hole A-04-15 intersected from surface to 63.75 meters (drilled purposely in a down-plunge direction to confirm continuity), a weighted average of 1.05{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} nickel and 2.18{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} copper. Note that intersection of mineralization in hole A-04-15 does not represent the true width of the zone and that, as the hole was purposely down-plunge, the true width of the mineralized zone is materially narrower than the drill hole intersection.
Of significance, the bottom 9.8m section averaged 1.92{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} nickel, 0.17{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} copper and 0.132{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} cobalt.
What is intriguing, and represents the exploration potential of the EL1 deposit, is the depth extent of the mineralization and whether these shoots lead to a massive sulphide zone at depth at better grades. Further deeper drilling would support this model.
The Company is also investigating further into value and recovery of secondary metals such as PGM’s, Co., Au, and Ag.
Management of Crystal Lake Mining Corp stated: “We thank Emerald Lake Development Corp. and its exploration team led by Mr. Frank Puskas; honors BSc geology / chemistry, MSc geology; his modelling of the EL1 property, core logging, evaluation, and data interpretation in the stage 1 program was instrumental. An independent review and interpretation of current exploration data on the EL1 Project leads us to believe that the documented mafic intrusion exhibits the potential for significantly higher grade copper-nickel-bearing mineralization at depth. Our work in this area appears to be justified and well-focused. Our encouraging results indicate that we are on the right path and we feel that there exists considerable potential for success“.
Mr. Paul Pitman, P. Geo. is a qualified person as defined by NI 43-101 and has reviewed and approved the technical contents of this press release regarding the ELI project, NW Ontario.
About the Company
Crystal Lake is a mineral exploration company focused on creating value through the exploration and development of its British Columbia and Ontario mineral properties. Crystal is presently completing the analysis of a Stage 1 drilling program in and around Emo, Ontario and is preparing for the commencement of Phase 2.
On behalf of The Board of Directors of Crystal Lake Mining.
Robert Michor, Director VP
This news release contains certain forward looking statements which involve known and unknown risks, delays, and uncertainties not under the control of Crystal Lake Mining which may cause actual results, performance or achievements of the Company to be materially different from the results, performance or expectation implied by these forward looking statements.
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 press release, which has been prepared by management.
- Published in Crystal Lake Mining, Mining, News Home