Golden Lake, i-80 Gold and North Peak Commence Collaborative Drone Magnetic Survey on Their Respective Properties, in the South Eureka Gold Belt, Nevada

VANCOUVER, BC / ACCESSWIRE / June 21, 2023 / Golden Lake Exploration Inc. (CSE:GLM) ("GLM" or "Golden Lake") (GOLXF-OTCQB) is pleased to announce the commencement of a high-resolution drone magnetic survey in partnership with i-80 Gold Corp. (TSX:IAU) (NYSE:IAUX) ("I-80") and North Peak Resources Ltd., (TSXV:NPR)("North Peak") on their respective properties located in the South Eureka Gold Belt (SEGB), Eureka County, Nevada. Specifically, the joint-survey will provide geophysical coverage over Golden Lake's Jewel Ridge property, part of i-80's Ruby Hill property including its recently acquired FAD property, as well as North Peak's Prospect Mountain property. All properties are contiguous with one another.

Foto: Accesswire

High-Resolution Drone Magnetic Survey:

High-resolution magnetic data collected from a drone provides an excellent tool for mapping rock type and structure and when processed, produce maps of exceptional detail. Three-D inversions of data from such a survey will yield information related to depth to the source, dip of the body and its overall size and shape. Non-magnetic bodies reflect certain rock types, structural trends and hydrothermal alteration associated with mineralization, while magnetic highs in the SEGB may reflect the presence of intrusions, both near-surface and at depth.

It is anticipated that the survey will take 7 to 10 days to complete, with preliminary results following shortly thereafter.

Each partner will carry 1/3 of the survey cost and will share equally in the data generated by it.

South Eureka Gold Belt:

The Jewel Ridge property is located along structural and stratigraphic trend to the south, of i-80 Gold's Ruby Hill property. District-scale structures at Jewel Ridge (Jackson Fault & parallel faults) are part of a 10 kilometre-long, north-south trending structural corridor, intimately related with neighboring deposits to the north at Ruby Hill, including the FAD, historic Ruby Hill, Ruby Deeps, Hilltop, 426, Blackjack and Archimedes deposits. North Peak's Prospect Mountain property is situated on the same structural corridor to the immediate west of Jewel Ridge, at the Diamond mine.