Management announces a significant additional landholding in the BC Project.
They are actively drilling in Nevada for the next month. Because of the high elevation there, further drilling will be curtailed there. But the BC project already has a crew beginning exploration and can continue through the winter months.
"("GLM" or the "Company") is pleased to announce the acquisition of two additional strategic claim blocks, from the same arms-length vendor, contiguous to and in the vicinity of the "MPD Property" owned by Kodiak Copper Corp. ("Kodiak") (TSX-V: KDK). The Deadman Lake property is contiguous to the Company's Copperview West property and represents a well-known porphyry target with historic sampling returning high silver assays (+25,000* grams silver per tonne (g/t Ag)) and 8.06% copper as well as elevated lead and zinc values. The South Dill Property is contiguous to the southern portion of Kodiak's MPD property and connects with the Company's Copperview South claims. Kodiak has made a significant new copper-gold porphyry discovery on the MPD property with the announcement of 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 Company cautions that results on adjacent and/or nearby projects are not necessarily indicative of results on the Company's property.
Deadman Lake Cu-Ag Property
This property comprises 1 claim (375.7 ha) and covers four reported Minfile (BC government designation) showings between Deadman and Green Lake, centered 1.4 kilometers east of Hwy 5A, approximately 40 kilometers south of Merritt. The four mineral showings, known as Mob 2, Mob 6, Mob 8, and Mob 11, surround a distinct magnetic high definite by BC regional magnetic surveys and historic ground magnetic surveys. This magnetic high anomaly trends north-north-west and is situated approximately 7.5 kilometers west of Kodiak's discovery hole MPD-20-004.
Mike England, president of Golden Lake, states: "As part of our ongoing review of properties in this emerging copper-gold porphyry district, we are pleased to have acquired two properties of merit that augment and enhance our Copperview holdings. The outstanding historic silver values on the Deadman Lake property are an added bonus and with a stronger silver price could add significant value to our targets."
Cumulative terms of the acquisition for both properties, from one arms-length vendor, to earn a 100% interest in the Copperview project call for Golden Lake to pay $50,000 cash and issue a total of 400,000 shares over a 2-year time frame. A 1.6 % NSR will be granted to the vendor of which 1.0% can be purchased back by the Company for $1.0 million. "
The games continue!!
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