- Golden Lake Exploration Inc. (GLM) has discovered gold and silver mineralization during the phase two drilling program on its Jewel Ridge Property in Nevada
- Results include nine drill holes on the Hamburg Zone on the south end of the property, and two holes for the initial drilling on the Catlin Zone
- The highest-grade of gold and silver was found on the Hamburg Zone
- Both holes on the Catlin Zone also returned high grades of mineralization
- Drilling has stopped while the company awaits the approval of its plan of operation
- Golden Lake Exploration Inc. (GLM) is down 20.00 per cent trading at $0.06 per share as of 3:24 p.m. ET
Golden Lake Exploration (GLM) has discovered gold and silver mineralization during the phase two drilling program on its Jewel Ridge Property in Nevada.
The recent results include nine drill holes on the Hamburg Zone on the south end of the property, and two holes for the initial drilling on the Catlin Zone.
The highest-grade intercept from the result was found in hole JR-22-50DD on the Hamburg Zone from a depth of 132.28 metres, returning 3.31 grams gold per tonne and 209.5 grams silver per tonne with 1.55 per cent lead and 0.70 per cent zinc over a core width of 3.96 metres.
Previously, the Hamburg Zone returned a significant intercept of 26.37 metres averaging 5.38 grams gold per tonne from a shallow depth in hole JR-22-36DD.
The company stated its most significant intersection was returned in hole JR-22-40DD, from the same zone, averaging 41.15 metres over a core width of 1.05 and 3.9 grams gold per tonne from a depth of 128.63 metres.
The two holes drilled on the Catlin Zone returned higher silver values associated with carbonate replacement deposit mineralization. Additional drilling is required to determine the extent and orientation of mineralization.
Drilling on the project has stopped while the company awaits the approval of its plan of operation over most of the Jewel Ridge property. The plan of operation over the property, and the larger disturbance allowance, will give the company more flexibility in planning and permitting future drill sites.
Golden Lake Exploration Inc. (GLM) is down 20.00 per cent trading at $0.06 per share as of 3:24 p.m. ET.