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Crystal Lake Mining Corp
Symbol C : CLM
Shares Issued 112,407,067
Close 2019-10-08 C$ 0.155
Recent Sedar Documents

Crystal Lake drills 56.35 m of 0.45% Cu, 0.33g/t Au

2019-10-09 08:50 ET - News Release

Mr. Maurizio Napoli reports

CRYSTAL LAKE DISCOVERS PORPHYRY CENTER EXTENDING THE FOOTPRINT OF BURGUNDY RIDGE BY 2.3KM: DRILLS 56.35M @ 0.45% COPPER, 0.33 G/T GOLD, AND 3.44 G/T SILVER

Crystal Lake Mining Corp. has discovered an entirely new copper-gold (Cu-Au) porphyry mineral zone at the 72' zone, 2.3 kilometres 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 about two kilometres 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.

Maurizio Napoli, president and chief executive officer 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."

Highlights

  • New copper-gold-silver porphyry discovery highlighted by 56.35 metres of 0.45 per cent Cu, 0.33 gram per tonne 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 per cent Cu, 0.71 g/t Au and 6.65 g/t Ag from 228.00 metres to 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 700 m by 300 m 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 stockwork hosted and disseminated chalcopyrite-bornite mineralization associated with a potassic alteration zone. The 56.35-metre diamond drill core interval contains 0.45 per cent 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 per cent 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 support the continuation of the alteration system in these directions.

The new porphyry system was identified through an extensive field mapping and spectral geology program that defined a large hydrothermal system focused around a multistage 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 and chief executive officer 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 2.3 km trend."

Crystal Lake provides drilling and work update

A total of 6,546 metres of diamond drilling have 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 are systematically being executed across the entire Newmont Lake project. The attached tables provide shareholders a summary of the progress made so far.

  
Target                                        No. of holes   Total metres   % of total   Assay status

Burgundy Ridge                                          10      3,019.5 m          46%        Pending     
NW zone                                                  9      1,623.5 m          25%        Pending     
72' zone (part of Burgundy trend)                        4      1,311.0 m          20%       Received    
Arseno (part of Newmont Lake gold corridor)              2        592.0 m           9%        Pending     


  

Summary of 2019 drilling completed to date. Further assay results are to follow as they are received and quality assurance/quality control (QA/QC) procedures are implemented.

Diamond drilling; 6,546 metres

  • 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; about 12 line kilometres

  • Identification of potential new high-grade Au systems along the Newmont Lake Gold Corridor.

Soil sampling; over 3,000 samples

  • To define large-scale, well-endowed metal systems across the Newmont Lake property.

Rock sampling; about 2,500 samples

  • To outline new surface discoveries, geochemical vectoring, and confirmation of historic assays in a variety of locations.

Hyperspectral sampling; about 4,500 samples

  • To create numerous spectral geology layers critical in the interpretation of alteration systems and vectors in exploration targeting.

Geological mapping; about 350 square km

  • 1:2,000 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 eight-person winter capacity

  • Critical component for low-cost exploration complete with two airstrips, two sets of bulk fuel tanks and equipment storage.

Quality assurance/quality control/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 two millimetres, split 250 grams and pulverized to 85 per cent passing 75 microns. Prepped samples were sent to MSA Labs' analytical facility in Langley, B.C., where 50-gram 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, multielement ICP-MS four-acid digestion, ultratrace level. Silver assay results greater than 100 g/t Ag and cobalt, copper, nickel, lead and zinc greater than 10,000 ppm 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 20 g or greater and IMS-130 for samples between 0.5 g and 20 g.

Qualified person

The technical information in this news release has been reviewed and approved by Maurizio Napoli, PGeo, chief executive officer/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 Corp.

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-per-cent 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.

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