- Copper Lake Resources Ltd.’s (CPL) initial assay results show encouraging signs from its drilling program at its Marshall Lake copper-zinc-silver-gold property
- The latest highlight was the recognition of a new copper-zinc mineralized zone
- A deeper zone is of particular interest as it confirms the potential for a parallel zone of base-metal mineralization
- Interpretation and modelling of a gravity survey data are currently being undertaken
- Copper Lake Resources Ltd. (CPL) is down 12.82 per cent trading at $0.17 per share as of 12:10 p.m. EST
Initial assay results show encouraging signs from Copper Lake Resources’ (CPL) drilling program at the Marshall Lake copper-zinc-silver-gold property in Ontario.
The primary focus of the current 3,000 metre drill program is a large, untested anomaly, a secondary focus on the Billiton deposit, and other base metal occurrences that have seen minimal historic drilling.
The latest highlight was the recognition of a new copper-zinc mineralized zone parallel to the main Billiton Zone. The deposit there yielded an intercept showing precious metals mineralization.
A nearby deeper zone is of particular interest to Copper Lake. It confirms the potential for the existence of a parallel zone of base-metal mineralization. Additional drilling and surveying will be followed to determine the extent of this new zone of base-metal mineralization.
The presence of stacked sulphide lenses can increase the mineral inventory and enhance the exploration potential of the Billiton deposit area.
Hole Mar-21-03 tested an airborne conductor situated above the deep target, intersecting two well-mineralized zones. Assay results for the drill hole are to be received within the next 30 days.
Following a short pause due to extremely cold weather, safety concerns stemming from it and the implementation of camp improvements, drilling has resumed at Marshall Lake. Drilling is focused on testing the new large, strong, untested deep anomaly that was recently identified.
Interpretation and modelling of gravity survey data are currently being undertaken. Results will be released as they become available.
The gravity survey crew has mobilized to the Deeds Island target, to assist in prioritizing drill targets over this large, prospective anomaly that contains zinc. The company expects the survey will be completed in two weeks.
Copper Lake Resources Ltd. (CPL) is down 12.82 per cent trading at $0.17 per share as of 12:10 p.m. EST.