Vancouver, British Columbia – May 7th, 2020, Golden Lake Exploration Inc. (CSE: GLM) (“GLM” or the “Company”)reports that it has completed the high-resolution ground magnetics, at 50 meter-line-spacing, on the Company’s keystone Jewel Ridge gold property near Eureka, Nevada.
The Company’s consulting geophysicist is processing and interpreting the data with preliminary results due in the near future. The magnetic survey was completed by Magee Geophysical Services LLC., based in Reno, Nevada. Magee Geophysical Services LLC has been conducting geophysical surveys for the mineral, oil & gas, and geothermal industries since 2004 specializing in ground magnetic and gravity surveys.
The Company is proceeding with drill permitting over the entire Jewel Ridge property. The property does, however, host numerous patented claims with high priority drill targets which do not require permitting which drilling can commence once a drill contractor has been secured.
CEO Mike England stated “The Company has systematically moved Jewel Ridge towards the drill stage. With key patented claims now included in the overall land package we will be able to exercise a high degree of exploration continuity for this very prolific region.”
About the Jewel Ridge Property
The Jewel Ridge property is located on the south end of Nevada’s prolific Battle Mountain – Eureka trend, along strike and contiguous to Barrick Gold’s Archimedes/Ruby Hill gold mine to the north and Timberline Resources’ advanced-stage Lookout Mountain project to the south.
The property comprises 96 unpatented lode mining claims and 30 patented claims covering approximately 728 hectares (1,800 acres). The Jewel Ridge property contains several historic small gold mines. The Company’s focus is on Carlin-style disseminated gold deposits, the primary focus in the area since the late 1970s.
Nevada Carlin-type gold deposits (CTGD) have a combined endowment of more than 250 million ounces, which are concentrated (85 per cent) in only four trends or camps of deposits: Carlin, Cortez (Battle Mountain-Eureka), Getchell and Jerritt Canyon. The Company cautions that results on adjacent and/or nearby projects are not necessarily indicative of results on the Company’s property.
About Golden Lake Exploration Inc.
Golden Lake Exploration is a junior public mining exploration company engaged in the business of mineral exploration and the acquisition of mineral property assets. Its objective is to acquire, explore and develop economic precious and base metal properties of merit and to aggressively advance its exploration program on the Jewel Ridge property.
ON BEHALF OF THE BOARD
Mike England, CEO & DIRECTOR
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FORWARD LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management’s current expectations and assumptions. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward -looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at WWW.SEDAR.COM).