MarketSmart Resources

CRYSTAL LAKE MAIDEN DRILLING AT BURGUNDY RIDGE CONFIRMS COPPER-RICH NEW DISCOVERY

March 7, 2019

Vancouver, British Columbia - Crystal Lake Mining Corporation (TSXV: CLM, the “Company” or “Crystal Lake”), is pleased to announce that results from first-ever drilling last fall at Burgundy Ridge confirm a new grassroots discovery in the footprint of approximately two dozen showings and mineral zones at the Company’s 430 sq. km Newmont Lake Project northwest of Eskay Creek.

Widespread surface mineralization at Burgundy Ridge extends to depth, including 2.6% copper between 118 meters and 119.5 meters in the fourth and final shallow hole, in a multi-element copper-rich porphyry-skarn system.

Burgundy Ridge is now believed to be part of a >3 km-long northeast trending mineral corridor situated west of a series of under-explored high-grade gold occurrences and targets, along with the historic Northwest gold zone. Importantly, all of these mineral zones and associated host rocks are within a graben structure bounded by the 20-km-long McLymont Fault. This makes the Newmont Lake Project a highly favorable geological environment for new discoveries.

Reverse circulation (RC) first-pass drilling of four shallow holes totaling 550 meters was completed from one set-up at the top of Burgundy Ridge as restrictive winter conditions set in at an elevation of approximately 1,900 meters.

Highlights:

  • Final hole of program (BRRC18-004) cut 58 meters @ 0.31% Cu and 0.27 g/t Au starting from surface, followed by a 1.5-meter interval grading 2.60% Cu from 118m to 119.5m;

  • Each hole intersected copper-rich mineralization, with gold and silver, associated with intense and widespread “skarn style” alteration of the multi-phase intrusions and immediate host rocks;

  • Evidence suggests that mineralization strengthens with depth;

  • Drilling confirmed a previously unmapped and well-endowed intermediate intrusive rock consisting of pervasive chalcopyrite blebs and fine-grained disseminated bornite mineralization.

Richard Savage, President and CEO, commented: “The cover has been lifted off Burgundy Ridge with geologists fascinated by their first look at what’s below surface at a dynamic target that not long ago was completely hidden by snow and ice.

“To have hit on each hole in maiden drilling during extremely challenging conditions last fall, confirming a new early stage discovery high in the system in this prolific district, gives us a huge edge entering our 2019 diamond drilling program and sets the table for a potential major new find,” Savage concluded.

High-Energy Mineralized System

Impressive surface alteration and mineralization at Burgundy Ridge, exposed by a rapidly receding glacier, has been mapped over several hundred meters and is now known to extend to depth following first-ever drilling. This new discovery is on trend with the ’72 Zone, Telena and Andrei targets which show similar characteristics as Burgundy Ridge based on mapping, surface sampling and geophysics. All areas will be explored aggressively in 2019.

Multiple surface targets exist at Burgundy Ridge including a lower elevation higher-grade zone, identified through sampling, providing ample additional discovery opportunities in 2019 as glacial retreat accelerates and diamond drilling tests this mineralized system over a broader area and at much greater depths.

Tight correlations between copper and silver, copper and gold, and copper and cobalt are indicative of a coherent style of mineralization created through a systematic process, elevating the potential of the Burgundy Ridge system. Meanwhile, the copper-gold rich skarn at the interface between mineralized intrusions and carbonate rocks at Burgundy Ridge reflects a higher fluid-rock ratio typical of proximal skarn along a porphyry system. Zoned calc-silicate skarns are commonly formed from fluids associated with very large porphyry systems.

Significant assay results – Burgundy Ridge RC holes 1 through 4*

Hole

From
(m)

To
(m)

Interval (m)

Cu
(%)

Au
(g/t)

Ag
(%)

Co
(%)

Zn
(%)

BRRC18-004

0.0

58.5

58.5

0.31

0.27

1.41

-

-

and

118.0

119.5

1.5

2.60

0.03

16.70

0.011

0.44

 

 

 

 

 

 

 

 

 

BRRC18-003

22.0

47.9

25.9

0.40

0.10

2.25

-

-

including

41.8

43.3

1.5

1.41

0.20

7.50

0.021

0.04

and

66.0

69.0

3.0

0.65

0.47

11.76

-

0.96

including

66.0

67.5

1.5

1.05

0.84

18.80

0.014

1.19

 

 

 

 

 

 

 

 

 

BRRC18-002

1.5

17.4

16.1

0.34

0.17

2.54

-

-

 

 

 

 

 

 

 

 

 

BRRC18-001

5.2

15.9

10.7

0.41

0.32

2.70

-

-

and

49.4

55.5

6.1

0.68

0.22

3.97

-

1.55

including

49.4

52.4

3.0

1.16

0.23

9.50

0.020

2.85

 

*True widths cannot be determined with the information and data currently available

Drill hole co-ordinates

Drill Hole

Easting
(mE)

Northing
(mN)

Elevation
(m)

Depth
(m)

Azimuth
(°)

Dip
(°)

BRRC18-01

374976

6303130

1828

150

135

-60

BRRC18-02

374976

6303130

1828

100

315

-60

BRRC18-03

374976

6303130

1828

150

315

-75

BRRC18-04

374976

6303130

1828

150

135

-75

 

Newmont Lake Project

Crystal Lake has an option to earn a 100% interest in the Newmont Lake Project from Romios Gold Resources (TSXV: RG) - refer to February 25, 2019, news release.

QA/QC Statement on Assay Results

Crystal Lake employed rigorous Quality Assurance and Quality Control (QAQC) protocols in line with best industry standards and practices for geochemical analysis. In the field, three rotating standards and a blank were inserted every 25th sample. Three types of standards were purchased from Ore Research & Exploration Laboratories Pty Ltd (ORE). A common granite-gravel aggregate was used as a blank. Additionally, MS Analytical used in-house blanks, and added two sets of duplicates to further improve the QAQC methodology. Two aggregate blanks were analyzed before each hole to ensure proper cleaning between sample batches. Up to six duplicates per hole were used to test FAS-211, ICP-240 and IMS-230 assay results. Both reject and pulp duplicate tests were performed.

Samples were prepared at MS Analytical in Terrace, BC, using PPU-510 (Pulverize 250g to 85% passing 75-micron) due to the lack of crushing required for RC chips. The sample pulps were then transported to MS Analytical Laboratory in Langley, BC, for geochemical analysis. A FAS-211 analysis (Gold by Fire Assay and AAS finish) was used with detection up to 100 ppm with an over limit analysis FAS-415 (Detection up to 1000 ppm). Gold is reported in parts per million (ppm) equivalent to grams per tonne (g/t). ICP-240 analysis was used as a 33-element ore-grade geochemistry method, therefore no over limit analysis was necessary (four-acid digestion with ICPES finish). These analytical results are reported in percentage apart from silver (Ag), which is reported as parts per million (ppm). Silver analysis was retested using IMS-230 to provide a lower detection limit of 0.01 ppm to ensure accurate findings.

Qualified Person

The technical information in this news release has been reviewed and approved by Mr. Adbul Razique, PhD., P.Geo., a Qualified Person responsible for the scientific and technical information in this news release under National Instrument 43-101 standards.

About Crystal Lake Mining

Crystal Lake Mining is a Canadian-based junior exploration company focused on building shareholder value through high-grade discovery opportunities in British Columbia and Ontario. The Company has an option to earn a 100% interest in the Newmont Lake Project, one of the largest land packages among juniors in the broader Eskay region in the heart of Northwest B.C.’s Golden Triangle.

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On behalf of The Board of Directors of Crystal Lake Mining Corporation

Richard Savage, President & CEO

This news release may contain certain “forward looking statements”. Forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Any forward-looking statement speaks only as of the date of this news release and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.


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