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Copper Lake Resources (TSXV:CPL)(FRANKFURT:W0I) (“Copper Lake” or the “Company”) is pleased to announce it has entered into a mineral property option agreement to acquire up to 100% of four separate properties made up of seven claims. The properties are situated in the Kenora and Patricia mining divisions in Northwestern Ontario and are known as the …
Copper Lake Resources (TSXV:CPL)(FRANKFURT:W0I) (“Copper Lake” or the “Company”) is pleased to announce it has entered into a mineral property option agreement to acquire up to 100% of four separate properties made up of seven claims. The properties are situated in the Kenora and Patricia mining divisions in Northwestern Ontario and are known as the Queen Alexandria Gold Property, the Mine Lake Gold Property, the Grand Chibougamau Gold Property and the Centrefire-Redhat Gold-Copper Property.
These four properties are Greenstone hosted gold targets in Northwestern Ontario. Recent prospecting in the area has returned grab samples with gold assays of up to 340 g/t over the area which shows size potential. Channel sampling and limited drilling have returned significant results from limited follow-up. Management feels there is strong potential for the area to host numerous, significant deposits.
As quoted in the press release:
Copper Lake Interim CEO Terry MacDonald stated that, “While the Marshall Lake Copper Zinc project remains our flagship property, these properties are a great opportunity in a much overlooked area in Northwestern Ontario. By acquiring these properties, we are expanding our portfolio by adding a precious metals asset with strong exploration potential to our existing core at a low cost.”
