Copper Lake Resources Ltd. is delighted to report that the Ontario Ministry of Energy, Northern Development and Mines (“MNDM”) has granted mineral development permits for its Marshall Lake copper-zinc-silver-gold property. The licenses cover the Main Billiton Zone and the Deeds Island and Marshall Creek Zones and are valid for three years. Copper Lake engages with the individual First Nations groups as part of the permit approval process when exploration takes place on their territories.
Billiton Zone MT/DCIP Survey
In mid-July, the Company performed an integrated Magnetotelluric (MT)/Deep IP study over the Billiton deposit area. The surveys’ purpose is to help map the Marshall Mineralized Band. It contains the Billiton Zn-Cu-Ag massive sulfide deposit historical resource of 2.2 MT at 1.3 percent copper, 4.2 percent zinc, and 2.5 percent Ag1. Moreover, it holds many other base-metal occurrences (Map 1). The MT/DCIP survey assesses resistivity, a significant characteristic of its sensitivity to massive sulfides and hydrothermal alteration. MT technology provides 2D and 3D models of subsurface resistivity at shallow depths and up to 1-kilometer depths.
Furthermore, the drill program will begin in early October, with an initial objective of 3,000 meters of drilling. Drilling will be focused primarily on the Billiton deposit area. Moreover, additional drilling will happen on select land-based targets on the auspicious Deeds Island and Marshall Creek Zones.
Copper Lake Resources
The high-grade VMS copper, zinc, silver, and gold deposit in Marshall Lake, Ontario, lies 120 kilometers north of Geraldton. It is 22 kilometers north of the main CNR rail line. Moreover, it is accessible via an all-season road from the Trans-Canada Highway. Copper Lake has the option of increasing its investment from 75 percent to 87.5 percent. The property also has 148 claim cells staked in 2018 and 2020 that are not subject to royalties, totaling around 30 square kilometers.
Marshall Lake also contains the Sollas Lake and Summit Lake properties and the main Marshall Lake property described above.
Copper Lake has 71.41 percent of the Norton Lake nickel, copper, cobalt, and palladium PGM project. It is locating in the southern Ring of Fire, some 100 kilometers north of the Marshall Lake property.