July 16, 2019, Vancouver, British Columbia – Crystal Lake Mining Corporation (TSXV: CLM OTC: SIOCF FSE: SOG-FF) (“Crystal Lake” or the “Company”) is pleased to announce that its ongoing Phase 1 exploration program has greatly expanded the target area at Burgundy Ridge, the newest drilling discovery in Northwest B.C.’s prolific Eskay Camp based on four shallow first-ever drill holes (reverse circulation) during winter conditions last fall (see March 7, 2019 news release).
Crews will be mobilizing for the maiden diamond drilling program at Burgundy Ridge during the week of July 22 to aggressively broaden this discovery (high-grade copper plus gold, silver, cobalt and zinc) laterally and at depth.
- Mapping, prospecting, sampling and hyperspectral analysis have delineated a large 2 km x 2.5 km porphyry and skarn-style system open in multiple directions;
- The Burgundy Ridge system features multiple “hot spots” including a significant new surface discovery 600 metres west-southwest of October’s copper-gold-rich intersections – a k-spar epidote altered and brecciated intrusion containing disseminated copper sulphides in a high temperature alteration zone;
- High-grade mineralization at Burgundy Ridge occurs within breccias and intrusive dykes that are structurally controlled along the margin of a large dolomitic limestone body which has been intruded by a variety of porphyries (a 3-metre chip sample by Romios Gold in 2013, which should not be considered representative of mineralization in the target area, returned 1% Cu, 28.5 g/t Au and 89.7 g/t Ag).
Dr. Peter Lightfoot, Crystal Lake Technical Advisor, commented: “The data increasingly suggest that there is large-scale development at Burgundy Ridge of alkaline porphyritic stockwork vein systems with breccias. These are very messy alkalic porphyries – exactly the right type of rocks – and they are associated with carbonate-bearing country rocks.
Crystal Lake Mining’s Technical Advisor Dr. Peter Lightfoot Comments on the ‘impressive fluid highway’ indicative at the Newmont Lake project in the Eskay Camp, British Columbia
“Tight correlations between copper and silver, copper and gold, and copper and cobalt are indicative of significant and coherent underlying mineralization processes at Burgundy Ridge, driven in part by an impressive fluid highway,” Dr. Lightfoot concluded.
Newmont Lake Project General Update
Crystal Lake will commence its 2019 drilling at the Burgundy Ridge discovery while highly prospective targets elsewhere throughout the 550 sq. km (55,000 hectare) project, including the newly-defined Chachi Corridor, continue to be systematically explored and advanced with details expected shortly as more data becomes available.
- To date, within the last six weeks, over 4,000 rock and soil samples have been collected throughout the project and have been shipped for assay (includes an intensive chip sampling campaign for hyperspectral vectoring);
- Lithological and alteration mapping on the highest priority prospects has been carried out by 35-year Golden Triangle veteran Marco Vanwermeskerken who mapped the Eskay Creek deposit pre-to-post discovery;
- A broad scale geophysics program, including both ground and airborne methods, will soon be launched by Wolcott & Associates Geophysical Services.
Richard Savage, President and CEO of Crystal Lake, stated: “We are ready to leverage the hard work and expertise of our discovery-driven teams who have done a remarkable job to position shareholders for a summer to remember in the Eskay Camp. We’ve got the right people in the right area at the right time – drilling starts with bullseye targets at Burgundy Ridge to immediately expand the district’s newest discovery.”
The technical information in this news release has been reviewed and approved by Mr. Maurizio Napoli, P. Geo., VP Exploration 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
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% 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.
On Behalf of the Board of Directors,
CRYSTAL LAKE MINING CORP.
President & CEO
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This news release may contain certain “forward looking statements”. Forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Any forward-looking statement speaks only as of the date of this news release and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.