Golden Lake Commences Drilling On Its Jewel Ridge Property In The Battle Mountain-Eureka Gold Belt, Eureka County, Nevada

Rhea-AI Summary

Golden Lake Exploration Inc. (CSE:GLM)(OTCQB:GOLXF) has commenced drilling on its flagship Jewel Ridge property in the Battle Mountain-Eureka gold trend of Nevada. The property is strategically located near successful exploration programs by North Peak Resources and i-80 Gold Corp. The 1,700-meter drill program, conducted by HD Drilling Services, will target 4 to 5 high-priority sites over 2 to 3 weeks.

The targets include Induced Polarization (IP) anomalies from 2024 surveys in favorable geological settings that potentially host Carlin-type gold deposits and carbonate replacement deposits. Additional targets include historic mines with high precious and base-metal assays that have not been previously drilled. Drill results will be released as they become available. The technical disclosure has been approved by Don Hoy, P.Geo., serving as the qualified person under National Instrument 43-101.

Positive

• Commencement of drilling program on the flagship Jewel Ridge property
• Strategic location near successful exploration programs by other companies
• 1,700-meter drill program targeting 4 to 5 high-priority sites
• Potential for Carlin-type gold deposits and carbonate replacement deposits
• Targeting of historic mines with high precious and base-metal assays

Negative

• None.

VANCOUVER, BC / ACCESSWIRE / September 30, 2024 / Golden Lake Exploration Inc. (CSE:GLM)(OTCQB:GOLXF) ("Golden Lake" or the "Company") is pleased to announce that it has commenced drilling on its flagship Jewel Ridge property (the "Property"), located in the prolific Battle Mountain-Eureka gold trend of Nevada.

The Property is well-located proximal to infrastructure and is immediately adjacent to successful, high-profile exploration programs currently being undertaken by North Peak Resources Ltd. & i-80 Gold Corp. (IAU.TO), on their neighboring Prospect Mountain and Ruby Hill properties, respectively.

Drill Program

HD Drilling Services, based out of Winnemucca, Nevada, has been retained by the Company to complete the 1,700-meter drill program. The program will consist of 4 to 5 high-priority drill targets and is anticipated to take 2 to 3 weeks to complete.

These high-priority drill targets include Induced Polarization (IP) anomalies generated from 2024 surveys situated within favorable geological & structural settings. Such settings host both Carlin-type disseminated gold deposits and carbonate replacement deposits, which are prominent in the immediate area of the South Eureka Gold Belt, where the Jewel Ridge property is located. Other targets include historic mines yielding high precious and base-metal assays, largely exploited at shallow depth that have seen no historic drilling.

Full details of the drill targets can be found on the Golden Lake website at www.goldenlakex.com. Drill results will be released as they become available.

Qualified person

Golden Lake Exploration's disclosure of a technical or scientific nature in this news release has been reviewed and approved by Don Hoy, P.Geo., who serves as a qualified person under the definition of National Instrument 43-101.

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.

Further to the Company's news release of September 13^th, 2024, announcing the closing of an oversubscribed private placement, an additional arm's length finder was compensated with finder's fees of $4,600 cash and 92,000 non-transferable finder's warrants. Each finder's Warrant will entitle the finder to purchase one Warrant Share of the Company for a 12-month period after the Closing Date at an exercise price of $0.07 per share.

On Behalf of the Board,
Mike England
CEO, President & Director

For Further Information Please Contact:
Telephone: 1-604-683-3995
Toll Free: 1-888-945-4770
Email: info@goldenlakex.com

The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release.

SOURCE: Golden Lake Exploration Inc.

View the original press release on accesswire.com

FAQ

What is the size of Golden Lake Exploration's (GOLXF) drill program on the Jewel Ridge property?

Golden Lake Exploration (GOLXF) has commenced a 1,700-meter drill program on its Jewel Ridge property in Nevada.

How many high-priority drill targets does Golden Lake Exploration (GOLXF) plan to explore in its current program?

Golden Lake Exploration (GOLXF) plans to explore 4 to 5 high-priority drill targets in its current program on the Jewel Ridge property.

What types of deposits is Golden Lake Exploration (GOLXF) targeting on the Jewel Ridge property?

Golden Lake Exploration (GOLXF) is targeting Carlin-type disseminated gold deposits and carbonate replacement deposits on the Jewel Ridge property.

Who is conducting the drilling services for Golden Lake Exploration (GOLXF) on the Jewel Ridge property?

HD Drilling Services, based in Winnemucca, Nevada, has been retained by Golden Lake Exploration (GOLXF) to complete the drill program on the Jewel Ridge property.