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Golden Lake Exploration Inc. announced high-grade silver and base metal results from the newly staked Pinto Property in White Pine County, Nevada. The property was acquired based on ongoing generative exploration activities, and rock grab samples showed values of up to 0.31 g/t Au, 2600 g/t Ag, 5.56% Cu, 14.05% Pb, and 10.6% Zn. The presence of elevated pathfinder elements suggests an intrusion-related hydrothermal system, enhancing the company's land position and potential value. The Pinto Mining district's historical high-grade silver production and adjacent mining activities contribute to the property's promising outlook.
Golden Lake Exploration Inc. (CSE:GLM) (OTCQB:GOLXF) successfully closed a non-brokered private placement, issuing 17,600,000 units at $0.05 per unit, generating $880,000 in gross proceeds. The funds will be used to advance the Jewel Ridge property in Nevada and for general working capital. Finders' fees of $25,450 cash and 509,000 non-transferable finders' warrants were paid to arm's length parties. Shares issued will be subject to a four-month hold period as per applicable securities laws of Canada.