MarketSmart Resources

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

March 7, 2019

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:

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

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

 

 

 

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