Golden Lake Contracts Big Sky LLC For Upcoming Jewel Ridge Drill Program

Rhea-AI Summary

Golden Lake Exploration Inc. (CSE:GLM) (GOLXF:OTCQB) has engaged Big Sky Exploration, LLC for a core drilling campaign at the Jewel Ridge project in Nevada, commencing in May 2021. The program aims to follow up on a successful drill hole (JR-20-DD12) that intersected 24.54 meters with 9.16 g/t gold and 65.8 g/t silver. A second drill is being negotiated for Q2 2021. The campaign will explore various targets, including the South Eureka area, which shows promising mineralization. Additionally, the company has granted 100,000 options at $0.45 to a director.

Positive

• Engaged Big Sky Exploration for a 20,000-foot core drilling campaign.
• Successful past drilling at JR-20-DD12 with high-grade mineral intersections.
• Exploration of multiple new targets, including the South Eureka area.

Negative

• None.

VANCOUVER, BC / ACCESSWIRE / April 14, 2021 / Golden Lake Exploration Inc. (CSE:GLM) ("GLM" or the "Company")(GOLXF:OTCQB) is pleased to announce it has engaged Big Sky Exploration, LLC, based in Bozeman, Montana, for the upcoming core drill program at its Jewel Ridge project, Nevada.

Negotiations are underway with a second drill to join the program in Q2 of 2021.

"We are very pleased to have secured Big Sky for our upcoming program at Jewel Ridge set to commence the first week of May. Our objectives will be to follow up on last season's core drilling success and to begin testing numerous other targets also defined." stated CEO Mike England.

Golden Lake will embark on a 20,000-foot core drilling campaign to follow up and begin delineating the size extent of drill hole JR-20-DD12 which intersected from surface an intercept of 24.54 meters returning 9.16 grams gold per tonne (g/t Au), 65.8 grams silver per tonne (g/t Ag), 1.03 percentage lead (% Pb), and 1.90 percentage zinc (% Zn)including a higher "bonanza" grade portion from 15.21 meters to 18.44 meters returned 3.23 meters averaging 57.16 g/t Au, 452.0 g/t Ag, 7.23 % Pb, and 11.99% Zn (see PRD dated Feb 23, 2021). Surface sampling of the South Eureka target area returned very similar mineralization averaging 3.43 Au, 196.3 g/t Ag, 8.8% Zn and 0.88% Pb (see Company PR dated Feb 1, 2021) and will also be a focus of the upcoming diamond drill program. This sample area is located approximately 125 meters from the collar of hole JR-20-DD12, and on-trend, and interpreted as the south-west extension of the Northeast Eureka Zone.

The Company further announces it has set 100,000 options at $0.45 to a Director of the Company.

About the Jewel Ridge Property

The Jewel Ridge property is located on the south end of Nevada's prolific Battle Mountain - Eureka trend, along strike and contiguous to Barrick Gold's Archimedes/Ruby Hill gold mine to the north and Timberline Resources' advanced-stage Lookout Mountain project to the south.

About Golden Lake Exploration Inc.

Golden Lake Exploration is a junior public mining exploration company engaged in the business of mineral exploration and the acquisition of mineral property assets. Its objective is to acquire, explore and develop economic precious and base metal properties of merit and to aggressively advance its exploration program on the Jewel Ridge property.

ON BEHALF OF THE BOARD

"Mike England"
Mike England, CEO & DIRECTOR

FOR FURTHER INFORMATION PLEASE CONTACT:
Telephone: 1-604-683-3995
TollFree:1-888-945-4770

Neither the Canadian Stock Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

FORWARD LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward -looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at WWW.SEDAR.COM).

SOURCE: Golden Lake Exploration Inc.

View source version on accesswire.com:
https://www.accesswire.com/640344/Golden-Lake-Contracts-Big-Sky-LLC-For-Upcoming-Jewel-Ridge-Drill-Program

FAQ

What are the objectives of Golden Lake Exploration's upcoming drilling program at Jewel Ridge?

Golden Lake Exploration aims to follow up on past drilling success and explore new targets with its 20,000-foot core drilling campaign at Jewel Ridge.

When is the drilling program at Jewel Ridge expected to start?

The drilling program at Jewel Ridge is set to commence in the first week of May 2021.

What significant mineralization was found in drill hole JR-20-DD12?

Drill hole JR-20-DD12 intersected 24.54 meters returning 9.16 g/t gold and 65.8 g/t silver, with a higher-grade interval averaging 57.16 g/t gold.

What is the significance of the South Eureka target area?

The South Eureka target area has shown similar mineralization averaging 3.43 g/t gold and will be a focus of the upcoming drilling efforts.

Who is involved in the upcoming drilling program for Golden Lake Exploration?

Big Sky Exploration, LLC has been engaged to conduct the core drilling program at the Jewel Ridge project.