Golden Lake Expands North Copperview Property to Cover Targets Adjacent to Gold Mountain Mining Corp’s Elk Property

VANCOUVER, BC / ACCESSWIRE / January 11, 2022 / Golden Lake Exploration Inc. (CSE:GLM) ("GLM" or the "Company") is pleased to announce the acquisition of two claims blocks that expands the North Copperview property by over 50% and covers a historic soil-in-copper geochemical anomaly and the northward extension of a recently defined airborne MT geophysical anomaly. The two claims are located north and northeast of the Company's Copperview North property, which is located north of, and contiguous to the "MPD Property" owned by Kodiak Copper Corp. ("Kodiak") (TSX-V: KDK).

The two new claims comprise 4,017 hectares, with the total North Copperview property nearly 120 square kilometers (11,979 hectares). Claim "1078594" is contiguous to the northern boundary of the Company's North Copperview property and covers the following targets:

• ULC Target - located wholly on the newly acquired claims, this target is defined by historic soil geochemistry completed in 1991 by Fairfield Minerals Inc., the owners and operator of the Elk Gold Mine (Siwash) property, currently being developed for production by Gold Mountain Mining Corp., (GMTN). The ULC Target is approximately 8.0 kilometers due west of the past producing Elk Gold mine, and 800 meters west of the boundary with GMTN's Elk Gold Property. Data on the ULC target was reported in BC Assessment Report # 22259 , and indicated copper-in-soil values of + 100 parts per million copper ("ppm Cu") over an area of 500 meters by 600 meters, with a peak value of 324 ppm Cu. This geochemical anomaly is similar in copper values and area to the Conglin Creek targets on the North Copperview property, where recent sampling by the Company compared well with history geochemical results, are completed by Fairfield in the 1990's. Company personnel have not yet visited nor investigated the ULC target area in the field. While remote in the 1990's, the target area is now readily accessible by a network of active logging roads.
• MT Anomaly "B" -- In June 2021 the Company commissioned Expert Geophysics Ltd to carry out a helicopter-borne MobileMT electromagnetic and magnetic geophysical survey over the North Copperview property (see Press Release September 7, 2021). The purpose of the survey was mapping bedrock structure and lithology, including possible alteration and mineralization zones by observing apparent conductivity corresponding to different frequencies, inverting EM data to obtain the distribution of resistivity with depth, and using very low frequency electromagnetic and magnetic data to study properties of the bedrock units. A north-south resistivity low trends off the property into the newly acquired claim "1078594". This anomaly is mostly coincident with low magnetic susceptibilities, and has strong low resistivities on all altitude slices, from 1000 meters to -500 meters. The Company's consulting geophysicist indicated: "Anomaly "B" is a north-south tending resistivity low with unlimited depth extent that is coincident with low magnetic susceptibilities, and as such is considered as a moderate to high priority target."

Foto: Accesswire

Location map of the newly acquired claims and targets