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Be the first with the news that moves the market- Copper Lake Resources Ltd. (CPL) has started a winter diamond drilling program on its Marshall Lake Property in northwestern Ontario
- Drilling in 2022 yielded high-grade copper assays at the Deep IP discovery
- The surveys previously defined a conductive centre below the high-grade mineralization, which the company is now testing
- A minimum of five drill holes, each with a minimum length of 600 metres, will test the conductive centre
- Copper Lake Resources Ltd. (CPL) is unchanged, trading at $0.12 per share as of 3:31 p.m. EST
Copper Lake Resources (CPL) has started a winter diamond drilling program on its Marshall Lake Property in northwestern Ontario.
The first of the planned five drill holes will test the Deep IP discovery, previously identified by the company and supplemented by surveys completed last year.
Terry MacDonald, CEO of Copper Lake, commented,
“The recent cold weather has allowed us to firm up trails and drill pads, and now that the drill and crew are in place, we look forward to completing the planned holes in the next several weeks and are eagerly looking forward to the results.”
Drilling in 2022 yielded high-grade assays at the Deep IP discovery, with the highest value being 8.13 copper, 7.26 per cent zinc, 240.80 grams of silver per tonne, ad 0.33 grams of gold per tonne over 2.11 metres.
The subsequent surveys defined a conductive centre which was made up of several “very strong” conductors below and along a known trend by the high-grade mineralization. The conductive centre was approximately 500 metres by 300 metres.
Copper Lake stated the size, strength and location of the conductive centre in relation to the high-grade mineralization looks promising and suggests that additional high-grade mineralization may be present in the area surrounding the Deep IP discovery.
A minimum of five drill holes, each with a minimum length of 600 metres, will test the conductive centre in an effort to expand on the limits of the high-grade mineralization. Results will be released as they become available.
Alongside this drilling, additional surveying will be completed to outline more confidently the dimensions and strength of the trend.
Copper Lake Resources Ltd. (CPL) is unchanged, trading at $0.12 per share as of 3:31 p.m. EST.
