Golden Lake Completes Drilling Program on Its Jewel Ridge Property in the Battle Mountain-Eureka Gold Trend, Eureka County, Nevada

Rhea-AI Summary

Golden Lake Exploration has completed its autumn drill program at the Jewel Ridge property in Nevada's Battle Mountain-Eureka gold trend. The program comprised 5 reverse circulation holes totaling 1,756 metres (JR-24-51 to JR-24-55). The property is strategically located near infrastructure and adjacent to exploration programs by North Peak Resources and i-80 Gold Corp.

Drilling targeted IP anomalies in favorable geological settings for Carlin-type gold and carbonate replacement deposits. All drill holes encountered heavily oxidized gossanous material, with JR-24-54 showing a notable 7.60-metre interval of intensely oxidized material in the Hamburg Dolomite. Samples have been sent to Paragon Geochemical Laboratories, with rush analyses expected within 14 days.

Positive

• Strategic location adjacent to high-profile exploration programs
• All drill holes encountered heavily oxidized gossanous material
• Discovery of 7.60-metre interval with intense oxidation in Hamburg Dolomite

Negative

• None.

‘Rush Assays Requested for Visually Encouraging Intervals'

VANCOUVER, BC / ACCESSWIRE / October 24, 2024 / Golden Lake Exploration Inc. ("Golden Lake" or the "Company") (CSE:GLM)(OTCQB:GOLXF) announces that it has completed its autumn drill program 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. (NPR:TSX-V) & i-80 Gold Corp. (IAU.TO), on their neighboring Prospect Mountain and Ruby Hill properties, respectively.

AUTUMN DRILL PROGRAM:

A total of 1,756 metres of reverse circulation drilling comprising 5 holes were completed in the subject drill program at Jewel Ridge (JR-24-51 to JR-24-55).

Drill targets included Induced Polarization (IP) anomalies (generated from 2024 surveys) situated within favorable geological & structural settings, hosting both Carlin-type disseminated gold deposits and carbonate replacement deposits, which are prominent in the immediate area of the district, known as the South Eureka Gold Belt. Other targets included historic mines yielding high precious and base-metal assays, exploited at shallow depth that have seen no historic drilling.

Drilling encountered several zones of heavily oxidized gossanous material over variable widths in all drill holes. JR-24-54 yielded several gossanous intervals containing iron oxide minerals in strongly altered rocks. In particular, a 7.60-metre-long interval in this hole yielded a visually promising intensely oxidized interval (95% iron oxide minerals) in karsted terrain within the Hamburg Dolomite. The Hamburg Dolomite is a very important lithotype for hosting CRD as well as disseminated gold mineralization in the Eureka district.

Mineralized intervals from the drilling have been sent to Paragon Geochemical Laboratories in Sparks, Nevada for analyses. Some of the mineralized samples will undergo ‘rush' analyses with results anticipated within 14 days. The other samples submitted will be analyzed utilizing the normal turn-around time of about 4 weeks. 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.

ON BEHALF OF THE BOARD

"Mike England"
Mike England, CEO & 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 total drilling depth completed by Golden Lake (GOLXF) at Jewel Ridge in October 2024?

Golden Lake completed 1,756 metres of reverse circulation drilling comprising 5 holes (JR-24-51 to JR-24-55) at the Jewel Ridge property.

When will Golden Lake (GOLXF) receive the rush analysis results from the Jewel Ridge drilling program?

Rush analysis results are expected within 14 days, while regular analysis results will take approximately 4 weeks.

What significant finding was discovered in drill hole JR-24-54 at Jewel Ridge?

Drill hole JR-24-54 revealed a 7.60-metre-long interval of intensely oxidized material (95% iron oxide minerals) in karsted terrain within the Hamburg Dolomite.