Glacier Lake Resources Inc. (TSXV:GLI) has completed two reconnaissance surface exploration programs on its Silver Vista and Hackett properties.
Glacier Lake Resources Inc. (TSXV:GLI) has completed two reconnaissance surface exploration programs on its Silver Vista and Hackett properties. The Silver Vista property is the company’s principal project and is located near Smithers, B.C., with a focus on the discovery of a large, bulk-tonnage, clastic-sediment-hosted, disseminated copper-silver deposit. The Hackett property is located in the Sheslay area of northwestern British Columbia, strategically adjoins the eastern border of the Hat property, owned by Doubleview Capital Corp. and actively being explored by Hudbay Minerals Inc., the company’s joint venture partner. The work on both properties was completed by Exploration Facilitation Unlimited Inc.
Silver Vista property
The “MR Zone” on the Silver Vista property was drilled in the 1st quarter of 2018, with seven holes, totalling 1,273 metres completed. All drilling was directed at the “MR Zone”, which represented the first drilling on the property since the initial program of 1,252.5 meters in 1991/1992. Highlights of the recent drill program include Hole SV18-06 which returned multiple horizons of mineralization over the entire length of the hole, with the entire drill hole length of 153.4 meters averaging 28.9 grams per tonne silver equivalent, (see press release May 23, 2018). Hole SV18-06 was the northernmost hole and the mineralized zone is open and undrilled to the west, north and northwest. Assay results from these two work programs are pending.
The “MR Zone” discovery (1990) comprises a mineralized showing in a logging road-cut. The property has been extensively logged recently, and a network of newly constructed roads was the focus of this summer exploration program to discover additional mineralization in outcrop exposures or boulders.
Work performed included till sampling using a backpack drill and prospecting/mapping. A total of 7 till samples and 25 rock grab samples were collected from three target areas (West, SE, Circle Road), away from the “MR Zone’ area. Outcrop exposure is limited, due to the slight, rolling topography, but weak observations of copper mineralization (oxide stain) were observed at all three locations. The West and SE Target areas were surveyed using a GDD Beep Mat to detect near-surface EM/Mag conductors, with one anomaly noted. Further details on the Silver Vista property can be found in the National Instrument 43-101 report on the property located under the company’s SEDAR profile.
The Hackett property is located approximately 38 kilometres northwest of the village of Telegraph Creek, and approximately 95 kilometres west-southwest of Dease Lake. The western border of the Hackett property is less than a kilometre away from Doubleview’s Lisle zone, and the Hoey Minfile prospect is located near Big Creek on the boundary with the Hat property. Exploration activity focused on expanding on the mineral showings discovered in 2014, related to the Hoey Minfile occurrence, which lies on the boundary with Doubleview. On the Hackett property the 2014 discovery mineral showing returned 24 and 594 parts per billion gold, and 598 and 2,970 parts per million copper, respectively. Approximately 150 m upstream on Big Creek from the discovery showing, another strongly oxidized showing returned 128 ppb gold and 935 ppm copper.
Work performed at the Hackett property included prospecting and soil sampling, with a crew using a fly-camp located on the property, serviced by helicopter form Dease Lake. In total 26 rock samples were collected from the area of the 2014 sampling in a steep ravine on the western flank of the property. The majority of samples collected were gossanous fine-grained mafic volcanics, many of which contained quartz -carbonate veins/veinlets. In addition, 33 soil samples were collected using augers from within a target zone projects as the extension of the Hoey Zone.
The technical content of this news release has been reviewed and approved by R. Tim Henneberry, PGeo, a member of the Glacier Lake advisory board and a qualified person as defined by National Instrument 43-101 — Standards of Disclosure for Mineral Projects.
The TSX Venture Exchange has accepted for filing the company’s issuance of 734,095 shares at an average price of $0.0725 in consideration of certain services provided to the company pursuant to an agreement dated May 25, 2017.