Copper Lake Initiates Spectral Analysis Survey on the Marshall Lake Property
04 5월 2020 - 9:00PM
Copper Lake Resources Ltd. (TSX-V: CPL, Frankfurt: W0I) ("Copper
Lake" or the "Company") is pleased to announce that the Company is
proceeding with a Spectral Analysis survey of the Company’s
Marshall Lake property and environs. The survey will assist
in defining drill targets on the copper-zinc-silver-gold project
northeast of Thunder Bay, Ontario, in addition to the potential
identification of new targets in previously unexplored areas of the
property. The work will be conducted by Aster Funds Ltd. of
Toronto, Ontario.
The Spectral Analysis survey takes the long wave
infrared data from the Terra satellite, and digitally removes
water, vegetation, cloud cover, and up to 18m of overburden. The
survey then can identify up to 304 separate minerals in abundance
on the Marshall Lake property, with sixteen minerals provided in
the first coverage agreement with Aster Funds Ltd. Each
mineral is classified into a group that has exploration relevance
to precious metals deposits, base metals deposits, and industrial
minerals deposits.
This work will also include a Synthetic Aperture
Radar (SAR) survey that takes microwave data from the Sentinel 1
and 2 satellites, and calculates the dielectric constant of
conductive bodies in outcrop and at shallow depth on mineral
properties. Integration of the Spectral Analysis survey with the
SAR survey shows what minerals are likely the sources of the
conductive body, which can be used to focus follow-up field
exploration. In the case of Marshall Lake, the combination of the
two surveys should provide new insights into the geology of the
property, and assist in prioritizing drill targets defined by the
2007 VTEM geophysical survey. These surveys are in progress and
results are expected by the end of May, 2020
Copper Lake CEO Terry MacDonald commented, “the
Aster Funds survey allows the Company to continue low-cost
exploration with mapping the entire Marshall Lake property at once,
and leveraging our project knowledge from previous successful
exploration, which included drill intersections averaging 1.07%
copper and 20.1 g/t silver over 25.3m at near-surface in the
Gazooma Zone, as discussed in our news release of May 23, 2018
http://copperlakeresources.com/wp-content/uploads/2018/06/CPL-News-Release-18-07.pdf.
We are very optimistic that the 2020 work program at Marshall Lake
will result in new discoveries.”
About Copper Lake Resources
Copper Lake Resources Ltd. is a publicly traded
Canadian company currently focused on advancing properties located
in Ontario, Canada.
The Marshall Lake high-grade VMS copper, zinc,
silver and gold property, comprises an area of approximately 104
square km and is accessible by all- season road. Copper Lake has an
option to increase its interest to 87.5% from its current 75%
interest.
In addition to the original Marshall Lake
property above, Marshall Lake also includes the Sollas Lake and
Summit Lake properties, which are 100% owned by the Company and are
not subject to any royalties. The Sollas Lake property
consists of 20 claim cells comprising an area of 4 square km on the
east side of the Marshall Lake property where historical EM
airborne geophysical surveys have outlined strong conductors on the
property hosted within the same favourable felsic volcanic units.
The Summit Lake property currently consists of 100 claim cells
comprising an area of 20.5 square km, is accessible year round, and
is located immediately west of the original Marshall Lake
property.
Copper Lake has a 71.41% interest in the Norton
Lake nickel, copper, cobalt, PGM property, located in the southern
Ring of Fire area, is approximately 100 km north of the Marshall
Lake Property. Norton Lake has a NI 43-101 compliant Measured and
Indicated resource of 2.26 million tonnes @ 0.67% Ni, 0.61% Cu,
0.03% Co and 0.46 g/t Pd.
Jim Steel MBA P.Geo. is the Qualified
Person under NI 43-101 and has read and approved the technical
content of this News Release.
On behalf of the Board of
Directors,
Copper
Lake Resources Ltd. |
CHF
Capital Markets |
Terry MacDonald, CEO |
Cathy Hume, CEO |
(416) 561-3626 |
(416) 868-1079 x231 |
tmacdonald@copperlakeresources.com |
cathy@chfir.com |
www.copperlakeresources.com
Neither the 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.
Copper Lake Resources (TSXV:CPL)
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