Copper Lake Commences Drilling on Its Marshall Lake Copper-Zinc-Silver VMS Property, Northwestern Ontario

Copper Lake Resources Ltd.
Copper Lake Resources Ltd.
Copper Lake Resources Ltd.
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Figure 1

Plan map of the MT conductors (500 metres below surface) showing Billiton Stringer Zone and Deep EM target and associated high-grade Cu-Zn-Ag stringer mineralization
Plan map of the MT conductors (500 metres below surface) showing Billiton Stringer Zone and Deep EM target and associated high-grade Cu-Zn-Ag stringer mineralization

Figure 2

Inclined 3D view looking SW, showing MT Conductors in relation to the Deep EM target and associated high-grade stringer mineralization
Inclined 3D view looking SW, showing MT Conductors in relation to the Deep EM target and associated high-grade stringer mineralization

TORONTO, March 07, 2024 (GLOBE NEWSWIRE) -- Copper Lake Resources Ltd. (TSX-V: CPL, Frankfurt: WOI, OTC: WTCZF) (“Copper Lake” or the “Company”) is pleased to announce that it has commenced diamond drilling on its Marshall Lake Zn-Cu-Ag VMS property, located in Northwestern Ontario. The drilling is being completed by Helm Diamond Drilling Ltd. based out of Binche, British Columbia, utilizing a Discovery 2 fly diamond drill rig.

Two prime target areas will be the focus of diamond drilling during the current campaign, including a prominent magneto-telluric (“MT”) conductor situated proximal and below high-grade zinc-copper silver stringer mineralization, known as the Deep EM target. The second drill target includes an EM conductor situated 2 km to the east of the Billiton deposit.

MT TARGETS

The magneto-telluric method is a geophysical technique that uses naturally occurring electromagnetic fields (“EM”) to measure the electrical conductivity of the earth. MT conductors reflect the presence of metallic sulphide deposits to depths of up to 1,000 metres, far beyond the depth of historical geophysical surveys completed at Marshall Lake.

SJ Geophysics Ltd., based out of Delta, BC, completed the MT survey in July 2021. The Company had the MT data interpreted and modelled, with the objective of defining deep drill targets. The survey was completed in the locale of the Deep EM target, drilled by the Company in 2021 and 2022, yielding high-grade intercepts including:

  • 8.13% Cu, 7.26% Zn, 240.80 g/t Ag & 0.33 g/t Au over 2.11 metres1

  • 5.81 % Cu, 7.32% Zn, 171.20 g/t Ag & 0.02 g/t Au over 1.95 metres1

  • 2.37% Cu, 1.75% Zn, 413.15 g/t Ag & 0.37 g/t Au over 6.00 metres1

The stringer-style mineralization is situated at a depth of approximately 300 metres below surface. The MT survey was commissioned in order to see conductors reflecting extensions to the identified stringer and/or massive sulphide mineralization to depths of up to 1,000 metres, and potentially expand on the limits and size potential of the VMS mineralizing system.

The 3D modelling delineated 3 strong conductors situated proximal to the Deep EM target and Billiton deposit that are high-grade stringer or feeder zones (Figures 1). All 3 MT conductors are thought to be very prospective for the presence of a nearby massive sulphide deposit. None of the MT conductors have been tested by diamond drilling.

MT Conductor 1 is the highest priority conductor for drilling given its close association with bore-hole electromagnetic (BHEM) conductors and associated high-grade stringer mineralization, centered 300 metres below surface (collectively the Deep EM Target). The upper part of MT Conductor 1 coincides very closely with the BHEM plates and mineralization but most importantly, continues down-plunge to the southeast to a depth of close to 1,000 metres (Figure 2). The geological and geophysical evidence suggests that MT Conductor 1 could be reflecting the down-plunge extension of the high-grade stringer mineralization reported above, but at greater depth.

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