VANCOUVER, Oct. 9, 2019
VANCOUVER, Oct. 9, 2019 /CNW/ - 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 ew 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."
- 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:
72' Zone (part of Burgundy Trend)
Arseno (part of Newmont Lake Gold Corridor)
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.
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
Identification of potential new high-grade Au systems along the Newmont Lake Gold Corridor.
> 3,000 samples
To define large scale, well-endowed metal systems across the Newmont Lake Property.
To outline new surface discoveries, geochemical vectoring, and confirmation of historic assays in a variety of locations.
To create numerous spectral geology layers critical in the interpretation of alteration systems and vectors in exploration targeting.
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.
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.
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.
President & CEO
SOURCE Crystal Lake Mining Corporation
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