CORRECTION FROM SOURCE: Golden Pursuit's 2025 Exploration Program at Gordon Lake Project, Northwest Territories
- Exploration permits secured through 2030 including First Nations approvals
- Planned all-weather road will significantly reduce exploration and drilling costs
- Historical high-grade gold findings in the area, with previous production records
- Multiple properties consolidated under single ownership since 2020
- Results from sample analysis not expected until October 2025
- Early stage exploration program with no immediate revenue potential
- Historical resource estimates are non-compliant with current NI-43 guidelines
Vancouver, British Columbia--(Newsfile Corp. - June 4, 2025) - Golden Pursuit Resources Ltd. (TSXV: GDP) is pleased to announce the commencement of work on its 2025 exploration program at its Myrt Lake, Murray Lake, and DAF properties located in the high-grade Gordon Lake gold mining district of Canada's Northwest Territories.
This press release is effective immediately and replaces the press release issued on June 03, 2025. This revised version contains material changes, including the disclaimer of the use of historical information and the approval by a Qualified Person in accordance with NI-43 guidelines.
Highlights
Litho-Structural Mapping and Sampling: Detailed litho-structural mapping and additional rock and till sampling will be carried out at three of our properties: Myrt Lake, Murray Lake and DAF. Detailed mapping data, structural measurements and rock sampling aim to increase the extent of near-surface high-grade mineralization surrounding known workings and mineralization showings. More extensive reconnaissance mapping and soil/till sampling will be conducted to identify new exploration targets. Channel sampling may also be added to better understand gold distribution and grade continuity along mineralized veins, wall and host rocks.
Photogrammetry and Magnetics Drone Survey: A property-scale photogrammetry and magnetics survey will be performed across the entire project. This will provide high-resolution (up to 3 cm spatial resolution) imagery for interpretation to build 3D wireframe mesh data for our geological modeling and project planning. The photogrammetry and magnetics data will be combined with mapping, geophysical, and any other data to be integrated into our geological model. Since the images will be acquired in the summer with good outcrop exposure, the photogrammetry mapping can be done remotely all year round.
Assay and Multi-Element Geochemical Analyses: Rock samples will be sent to the ALS laboratory in Yellowknife for assay and geochemical analyses. Results are expected for October 2025.
Figure 0. Gordon Lake Project and 2025 Exploration Properties.
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Exploration History
The Gordon Lake Project has an extensive exploration history dating back to the late 1930's. There are multiple gold showings within the Project boundary that have had varying degrees of exploration and underground development. The last period of sustained exploration activity in the Kidney Pond and Lynk areas was in the 1980's. Recently in 2020, Golden Pursuit Resources Ltd. acquired and consolidated all the properties in the Gordon Lake Project. Exploration permits for the Company's properties are approved through 2030, including First Nations approvals and permits. The Company looks forward to the construction of an all-weather road connecting Gordon Lake to Tibbit Lake, approximately 30 km long, which will dramatically reduce the Company's exploration and drilling costs.
The historical assay results (Christensen, 1985) and resource estimates (Knutsen, 1987) referenced in this press release were calculated prior to NI-43 guidelines and therefore do not conform to current estimates and are not being used as estimates. A resource estimate needs to be validated by a QP and that is not the purpose of this release. The historical information is relevant because it demonstrates the consistency of exploration at these formerly producing mines over decades. These are the most recent reports for both areas. Golden Pursuit Resources has compiled all historical data for Gordon Lake as well as recently acquired new data (2020-2024). The Company issued NI-43 reports in 2021 and 2022.
Golden Pursuit has undertaken several significant exploration programs in the area including LiDAR surveying, geological mapping and sampling, IP surveying, ground magnetic surveying, and 3D litho-structural modelling. The proposed 2025 program will build on both the historic and recent exploration results.
The exploration history is summarized in Table 1 (which summarizes work in the DAF area) and Table 2 (which summarizes work in the Lake Murray and Myrt Lake areas). The 2025 exploration program will focus on detailed mapping and sampling in the DAF area to further refine geological modeling, as well as preliminary geological mapping and sampling on the Lake Murray and Myrt Lake properties to inform geological modeling of these two properties.
Table 1. Exploration history of significant mineral occurrences in the southern Gordon Lake area. Part 1. Occurrences within the DAF property.
| DAF VEIN (WEST BAY) |
| 1946 (Zolata Yellowknife Mines): Woolgar and Wonnacott staked the property. Zolata Yellowknife Mines optioned the property, performed trenching and 6700 feet of drilling. |
| 1947 (McAvoy): Woolgar and Wonnacott along with J. McAvoy installed a small mill and hand cobbed vein material to produce 50 ounces of gold from 18 tons (2.77 oz/ton). |
| 1948 (West-Bay Yellowknife Mines Ltd.): Acquired the property and a larger mill was installed. Further trenching, drilling, and milling produced 221 oz of gold, and 29 oz of silver from 289 tons of rock. |
| 1958 (Consolidated Northland Mines Limited): Sampling program |
| 1967 (Precambrian Mining Services Limited.): Evaluation Report |
| 1977 (Reed and Doucette): Hand cobbed and milled ore, recovering 27 fine ounces of gold. |
| 1981-1982 (Black Ridge Gold Ltd.): Black Ridge drills 21 holes totaling 420 meters. Several holes hit very high values: 82-03 (4.536 oz over 3 feet), 82-04 (3.192 oz over 3 feet), and 82-05 (9.876 oz over 3 feet). Estimated that to a down dip depth of 64 feet there is a total of 814 tons of ore at 4.21 oz/ton (3400 oz). |
| 1984 (Cruiser Minerals): Drill program under an option agreement, with 44 drillholes totaling 1635m. Calculated an ore shoot 60 feet long by 5 feet wide, averaging 0.888 oz/ton to a depth of 300 feet. (5000 tons at 30.4 g/ton). |
| 1987 (Blackridge and Cruiser Minerals): 400 meters drilled. |
| 1989-1990 (New Era Development and Cameron Mining): 5,540 tonnes bulk sampling. Reported grade of 19 g/t. Over half was processed by Discovery Mine. |
| 2020 (Golden Pursuit Resources Ltd.): Acquired the property. |
| 2021 (Golden Pursuit Resources Ltd.): LiDAR survey, prospecting, and rock sampling (Vivian and Bocking, 2022). |
| 2023 (Golden Pursuit Resources Ltd.): Compilation of historic work and geological mapping (Prior et al., 2023; Prior and Schmidt, 2023). |
Table 2. Exploration history highlights of significant mineral occurrences outside the southern Gordon Lake area. Part 2. Occurrences within the Murray Lake and Myrt Lake properties.
| MURRAY LAKE |
| 1937-1940 (Cominco Limited): Extensive exploration work on the "Pan" claims, including more than 110 trenches, shallow diamond drilling, and two small shafts (8'X6' and 6'X5') completed, with gold showings of 310.9 g/t over 0.91 m and channel samples of 15.55 g/t Au (with veins up to 298.56 g/t Au). |
| 1957-1960 (Alex Mitchell): Staked the "Bairn" claims and reported favorable horizons intersected by 5 drillholes. |
| 1972 (North Star Mines Ltd.): Report on the MSSL claims, which cover the Pan and Bairn claims. The host rock bordering the trenches was found to be auriferous. |
| 1981 (Five Star Resources Ltd): Detailed mapping and sampling immediately south and southeast of the Murray Claim, with the intent to estimate the size and number of gold-bearing veins and determine the structural setting of the veins. |
| 1982 (Hidden Lake Gold Mines Ltd): Limited geological mapping, sampling and prospecting. A quartz vein zone was shown to contain high grades of gold mineralization with gold values up to 3.6 ounces of gold/ton across 1.5 feet width in a vein with a length of about 30 feet. |
| 1981 (Dale Christensen): 26 shallow drillholes. The best result was 1.308 oz/ton gold (Christensen, 1985). |
| 1985 (Henderson): Mapped the Yellowknife-Hearne Lake Area at a scale of 1:250,000. *Reported RC assay results in Figure 3 presented here are historical, non-compliant with NI-43 guidelines, and are not being used as current. |
| 1994 (Brophy): Described the structure and geochemistry of vein-hosted gold in Burwash turbidites in the area. |
| 2003 (Dahrouge Consulting): Staked the "Murray" claim and optioned to Evolving Gold Corp. |
| 2008 (Triple Dragon): Dahrouge Consulting, on behalf of Triple Dragon, completed geologic mapping and prospecting within the Murray claim. A total of six trench areas were outlined and chip sampled, and 198 samples were collected and analyzed. The most promising result is from a quartz vein sample in Area A that assayed 187.71 g/T Au over 0.25 m. |
| 2020 (Golden Pursuit Resources Ltd.): Acquired the property. |
| 2021 (Golden Pursuit Resources Ltd.): LiDAR survey, prospecting, and rock sampling (Vivian and Bocking, 2022). |
| 2024 (Golden Pursuit Resources Ltd.): Initial assessment, preliminary structural mapping and rock sampling (Field report, 2024). |
| MYRT LAKE |
| 1938-1939 (Dome Mines Limited): Extensive work included trenching, diamond drilling, and bulk sampling. |
| 1959 (Sam Otto): Staked the "Myrt" claims. |
| 1959 (Walter Temawski): Staked the "WT" claim group. |
| 1938-1974 (Precambrian Mining Services): Surface rock trenching (736 feet in 33 trenches), surface diamond drilling (8226 feet in 65 holes), surface geological mapping. |
| 1974 (Cameron Holdings Limited): Decline of 466 feet, and 405 feet of drifting and crosscutting along the #1 vein. 3,650 feet of underground drilling in 15 drillholes. A total of 3,000 tons of ore grading 0.11oz/t was mined and stockpiled. Ore reserves were estimated to be 25,275 tons grading 0.22 oz Au/ton down to 125'. |
| 1984 (Ryan Energy): 10 drillholes (5,585 feet) verified that the #1 and #3 veins continue to the northwest and at depth below 500 feet. |
| 1987-1989 (William Knutsen): Acquired the property and reported rehabilitation of the decline. Knutsen (1987) calculated a minable resource to a depth of 110' of 17,510 tons grading 0.35 oz Au/ton, containing 6,132 oz Au. *Reported resources presented here are historical, non-compliant with NI-43 guidelines, and are not being used as current. |
| 1992 (William Knutsen): Processed 2,152 tons of gold at Yellowknife Giant Mine, with 732 oz Au recovered at a grade of 0.36 oz/t and |
| 2020 (Golden Pursuit Resources Ltd.): Acquired the property. |
| 2021 (Golden Pursuit Resources Ltd.): LiDAR survey, prospecting, and rock sampling (Vivian and Bocking, 2022). |
2025 Exploration Program
The 2025 exploration program on the Gordon Lake Project (Figure 1) was designed to build on historical high-grade results and mine operations, where sampling and drilling intersected significant gold mineralization. Planned detailed litho-structural mapping and rock, soil, and till sampling will help to better understand the structural-geochemical relationship to gold mineralization. Recent targeted exploration efforts have focused on delineating targets, refining the geological model, and planning drillholes for the next drilling campaigns. Further drilling will focus on both confirmation and step-out drilling to enhance geological understanding and to test new targets identified through geophysical and geochemical surveys.
The 2025 exploration program will be divided into two phases: one that includes initial geological mapping and sampling for modeling purposes at Myrt Lake (Figure 2) and Murray Lake (Figure 3) properties, and a second phase focusing on refined mapping and modeling on the DAF (Figure 4) property for further drillhole planning.
- Litho-structural mapping and extension of known mineralized zones: Initial litho-structural mapping, rock and till sampling on Murray Lake and Myrt Lake to understand controls on mineralization and start to build a geological model for these deposits, including historic data. Detailed litho-structural mapping, rock and till sampling to be integrated to geophysical surveys and geological models at DAF property to expand on historic work, update and refine the geological model, and drillhole planning.
- Photogrammetry and magnetics survey: Golden Pursuit contracted Drone North, a drone-survey company based in Yukon, to perform an Unmanned Aerial Vehicle (UAV) mapping and image analysis including property-scale photogrammetry and magnetic survey over three Areas of Interest (AOI's) to complement ground-based exploration efforts. The high-resolution imagery obtained with photogrammetry provides photography, detailed topographic data and terrain models processed into 3D wireframes meshes. Drone North also partners with AeroPhysX to provide very high quality and high-resolution magnetic surveys. The magnetic data can be quite helpful to identify large-scale structures, as well as geophysical anomalies, including sulfides (pyrrhotite) and iron oxides. These data will assist in geological interpretation and structure delineation, and used for geological 3D modeling, drillhole planning, and project management.
Litho-Structural Mapping and Sampling Program
Detailed litho-structural mapping, as well as extensive surface rock and till sampling will be conducted over the entire three properties. The objective is to understand the structural-geochemical controls on mineralization. Rock and till sampling were designed to fill gaps in historical data and provide a more detailed geochemical understanding of gold distribution near high-grade zones to refine future drillhole planning.
Figure 2. Myrt Lake Property Exploration Plan.
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Figure 3. Murray Lake Property Exploration Plan.
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Figure 4. DAF Property Exploration Plan.
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Photogrammetry and Magnetics Drone Survey
Golden Pursuit has hired Drone North, a drone-survey company based in Yukon, to conduct a property-scale photogrammetry and magnetic survey to complement ground-based exploration work. The high-resolution imagery obtained with photogrammetry provides photography, detailed topographic data and terrain models processed into 3D wireframes meshes. The magnetic data can be quite helpful to identify large-scale structures, as well as geophysical anomalies, including sulfides (pyrrhotite) and iron oxides. These data will support 2025 exploration activities (Figures 2-4) and further assist in geological interpretation and structure delineation, and will be used for geological 3D modeling, drillhole planning, and project management.
The photogrammetry and magnetic surveys will be carried out over three Areas of Interest (AOI's): Myrt Lake, Murray Lake and DAF properties. The proposed survey areas cover approximately 10 km2 and consist of acquiring high resolution Unmanned Aerial Vehicle (UAV) data, at approximately 40 meters high and with 50 meters line spacing, with lines being oriented perpendicular to the geological fabric (Figure 5). Ground control point data will be acquired during UAV surveying to carry out a camera calibration and to determine final photogrammetric model errors. A magnetic base station will record diurnal variation in magnetic field.
The photogrammetry products will include colour orthomosaic imagery, digital elevation models including both digital surface models and digital terrain models, 3d georeferenced cloud points (LAS), and final report. All photogrammetry data will be acquired to be compatible with 3D mapping applications such as HiveMapTM.
For the magnetic survey, a very high-resolution elevation model will be generated from UAV photogrammetry flights and then followed with the UAV magnetic sensor. A total of 270 line-km of magnetic survey is estimated. Final deliverables will include total magnetic intensity, phasemap, vertical derivative, horizontal gradient, reduction to the pole, and final report.
Figure 5. Magnetic survey design at Myrt Lake, Murray Lake, and DAF properties.
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Community Engagement
Golden Pursuit collaborates with First Nations organizations on whose traditional territories its projects are located as well as with the Government of the Northwest Territories to advance their strategic interests, as well as to discuss opportunities to support community initiatives. The Company looks forward to continuing to work with local and regional First Nations in all its future exploration programs.
References
- Christensen, D, 1985. Rotary Drilling and Sampling, Murray Lake, Assessment Report at NTGS #081941. 4 p.
- Knutsen, W. G., 1987. Summary Report and Ore Reserve on the 'WT' Gold Property, Myrt Lake, NWT. Prepared for Westfort Petroleums Ltd. Precambrian Mining Service Ltd.
- Prior, G.; Schmidt, N., 2023. Field Report. Exploration on the Gordon Lake Property. Dahrouge Geological Consulting Ltd.
- Prior, G.; Schmidt, N.; Gorham, J., 2023. Summary Report on the Gordon Lake Property. Including: Burnt Island, Camlaren, H Vein, 31 Vein, May Island, Kidney Pond, Lynk, Murray Lake, Myrt Lake, Storm, Goodrock, and Vaydik mineral occurrences. Northwest Territories, Canada. Dahrouge Geological Consulting Ltd.
- Vivian, G; Bocking, N., 2022. Technical Report. South Gordon Lake Property, Northwest Territories, Canada. Prepared for Golden Pursuit Resources Ltd. Aurora Geosciences.
- Vivian, G, 2021. Technical Report. South Gordon Lake Property, Northwest Territories, Canada. Prepared for Golden Pursuit Resources Ltd. Aurora Geosciences.
About the Gordon Lake Project
The Gordon Lake Project is located approximately 80-90km northeast of Yellowknife, NWT, and it hosts numerous gold showings with several having seen varying degrees of exploration work, including drilling, underground development and mining from 1937 to the late 1980's.
The Gordon Lake Project ("Property") consists of 18 territorial and 13 federal claims, as well as 4 historical mining leases, totaling just over 6850 hectares. All claims and leases are
The Gordon Lake Project is located on the Slave Structural Province in the northwestern portion of the Canadian Shield which comprises an Archean granite-greenstone craton. The Slave Province is comprised of granite-gneiss basement, supracrustal metavolcanic-metasedimentary rocks of the Yellowknife Supergroup and younger granitoid complexes. The Yellowknife Supergroup consists predominantly of the Burwash Formation metaturbidite deposits with flanking, older metavolcanics along basinal edges. Many gold quartz veins are within the Burwash metaturbidite formation and occur as single veins or vein-swarm systems. In addition to the veins found at Gordon Lake, metre-scale zones of quartz breccia occur.
About Golden Pursuit Resources
Golden Pursuit Resources is a company focused on gold exploration. The company owns deposits and prospects located in the Northwest Territories (Canada) and Nevada (United States). All projects are owned
Both land and water use permits are in place on the Gordon Lake, NWT project, allowing for exploration and development until 2030. The company owns 11 distinct properties that have undergone exploration, development and mining since the 1930's. Five of the deposits have been classified as "former producers" by the NWT government. Golden Pursuit has conducted extensive exploration since 2021, and there will be an announcement about this year's exploration as results are received.
Further details are available at www.goldenpursuitresources.ca.
Qualified Person
The technical information in this news release has been reviewed and approved by Pavel Dubchak, an independent consultant commissioned by the Company. Pavel Dubchak is a Professional Geoscientist (P.Geo.) registered with Engineers and Geoscientists BC (EGBC) and a "Qualified Person" with respect to NI 43-101. The QP has not visited the property and has not performed sufficient work to update the resource. The Issuer is not treating the historic estimated as current.
On behalf of the Board of Directors
Brian McClay
For further information, contact:
Brian McClay
CEO & President
info@goldpursuit.ca
Cleber Peralta
COO & Director, MSc Geology
cleber@goldpursuit.ca
Tel. 604-730-6982
Forward-Looking Information
Statements contained in this news release that are not historical facts may be forward-looking statements, which involve risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. In addition, the forward-looking statements require management to make assumptions and are subject to inherent risks and uncertainties. There is significant risk that the forward-looking statements will not prove to be accurate, that assumptions may not be correct and that actual results may differ materially from such forward-looking statements. Accordingly, readers should not place undue reliance on the forward-looking statements. Forward-looking statements contained in this press release may include, but are not limited to, potential mineralization, exploration plans, and engagement with First Nations communities. They contain risks inherent in exploration activities; the impact of exploration competition; unexpected geological or hydrological conditions; changes in government regulations and policies, including trade laws and policies; failure to obtain necessary permits and approvals from government authorities; volatility and sensitivity to market prices; volatility and sensitivity to capital market fluctuations; the ability to raise funds through private or public equity financings; environmental and safety risks including increased regulatory burdens; weather and other natural phenomena; and other exploration, development, operating, financial market and regulatory risks. The information contained in this press release are made as of the date hereof or the dates specifically referenced in this press release, where applicable. Except as required by applicable securities laws and regulation, Golden Pursuit disclaims any intention or obligation to update or revise any forward-looking statement, except as required by applicable securities laws. All forward-looking statements contained in this press release are expressly qualified by this cautionary statement.
Neither the 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.
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FAQ
What is Golden Pursuit Resources' 2025 exploration plan for the Gordon Lake Project?
When will FPVTF receive results from their 2025 Gordon Lake exploration program?
What infrastructure improvements are planned for Golden Pursuit's Gordon Lake Project?
How long are Golden Pursuit's exploration permits valid for the Gordon Lake Project?
What is the historical significance of the Gordon Lake gold mining district?
