Management seems to feel their Coglin Creek project is a very promising position as they increase their holdings in the area.
"("GLM" or the "Company") is pleased to announce the acquisition of an additional strategic property known as the "Conglin Creek Copper Property" located contiguous and north-west of the "MPD Property" owned by Kodiak Copper Corp. ("Kodiak") (TSX-V:KDK). Kodiak previously reported an intercept in drill hole MPD-20-004 of 282 meters averaging 0.70 percent copper and 0.49 grams gold per tonne (see PR Kodiak, September 3, 2020).
The Conglin Creek property covers a strong magnetic high anomaly (see map below) that trends in a north-west, south-east direction from the Gate and Prime zones on Kodiak's MPF property. A soil geochemistry survey completed in 1973 indicates strong copper-in-soil anomalies trending north-west to north-south. Copper values of + 400 parts per million ("ppm") occur of strike lengths of 125 to 150 meters, enclosed by copper anomalies with values of 200 - 400 ppm Cu over strike lengths of 400 to 500 meters. Note that the Company has not verified the values in government assessment filings, and they are not to be relied upon, and additional sampling, assaying and verification is required. The Company's recent acquisition also covers the "Conglin Creek Showing" (Minfile 092HNE132, BC government designation). There has not been drilling on the Conglin Creek property, to the best of the Company's knowledge
Golden Lake further announces it has also staked an additional 6,009 hectares of land in the region which now brings its Copperview Project to 27,238 hectares
Cumulative terms of the acquisition to earn a 100% interest in the Conglin project call for Golden Lake to pay $100,000 cash and issue a total of two million shares over a 2 year time frame. A 2.5% NSR will be granted to the vendor of which 1.5% can be purchased back by the Company for $1.5 million.
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