Glacier Lake picks up properties in Golden Triangle area
Glacier Lake Resources Inc. [GLI-TSXV.GLI, CLIF-OTC] said Wednesday it has struck a deal to acquire the Hackett and North Wolverine properties in the Sheslay area of northwestern British Columbia.
The properties are located approximately 38 kilometres northwest of the village of Telegraph Creek, and approximately 95 kilometres west-southwest of Dease Lake.
Association for Mineral Exploration British Columbia (AMEBC) notes that; “The Sheslay area, located in northwestern British Columbia, is one of the most promising grassroots mineral exploration areas in Canada, and this highly prospective area has been explored for many years by a number of companies.
The Hackett property adjoins the eastern border of the Hat property, owned by Doubleview Capital Corp. The western border of the Hackett property is less than a kilometre away from Doubleview’s Lisle Zone. A limited exploration program conducted in 2014 returned strongly anomalous gold and copper values in rock grab samples from oxidized mineralized showings from the western flank of the property.
Two east-west trending mineralized occurrences were discovered in an area of limited exposure. Gold and copper values reported in mineral showings are considered to be significant, representing the first anomalous gold and copper values returned from the Hackett property. They may represent the extension of porphyry style mineralization indicated in surface sampling and diamond drill holes on the contiguous Double Hat property, the company said.
The North Wolverine property is located approximately six kilometres southwest of the southern boundary of the Hackett property and is completed surrounded by Garibaldi Resources Corp.’s [GGI-TSXV, GGIFF-OTC] large Grizzly property.
“We are very pleased to increase our property portfolio with the addition of these exciting assets in B.C.’s prolific Golden Triangle region,” said Glacier Lake President and CEO Saf Dhillon.
“We plan to further evaluate other projects in Canada and abroad as we await our assays from our Phase 1 drilling at Silver Vista, B.C.,” he said.
Glacier Lake said it recently completed the Phase 1 diamond drill program on its Silver Vista property near Smithers, British Columbia.
This initial drill program was focused on the main MR showing, a classic sediment-hosted, fine-grained, disseminated copper-silver zone.
The company is planning a summer exploration program on the Hackett and North Wolverine properties, consisting of property reconnaissance, prospecting and sampling. The objective of the first-pass program is to verify the documented mineral showings, follow-up the soil anomalies and prospect favourable areas.
Glacier Lake shares eased 7.14% or $0.005 to 6.5 cents on Wednesday. The 52-week range is 12.5 cents and 5 cents.