Golden Lake Exploration to drill Jewel Ridge, Nevada
Golden Lake Exploration Inc. [CSE: GLM; OTCQB: GOLXF] reported that it will shortly commence drilling on one of its prime drill targets, on its flagship Jewel Ridge property, located in the prolific Battle Mountain-Eureka gold trend of Nevada.
The property is well-located proximal to infrastructure and is immediately adjacent to successful, high-profile exploration programs currently being undertaken by North Peak Resources Ltd. [TSXV: NPR] and i-80 Gold Corp. [TSX: IAU], on their neighboring Prospect Mountain and Ruby Hill properties, respectively.
Geophysical surveys completed by the company in the summer of 2024 defined a prominent IP anomaly, delineated over an 800-metre strike length. Such an anomaly is strongly defined at surface and persists to a minimum depth of 400 metres below surface, where it remains open at depth.
The IP anomaly is intimately associated with a north-south trending corridor hosting significant carbonate replacement deposits (CRDs), including the Ruby Deeps/Hilltop deposits situated to the north, on i-80 Gold’s Ruby Hill property to the Diamond/Excelsior deposits to the south, on North Resource’s Prospect Mountain property. The CRD deposits are related to a north-south trending fault complex and intersecting WNW & ENE structures, as well as lithologic contacts.
The Magnet Ridge anomaly is situated in the heart of the corridor and comprises a high-priority, untested IP target. It is anticipated that it will take two to three days to drill-test the target. Results will be released as they become available.
To date, a total of 1,378 metres comprising four holes have been completed in the current drill program at Jewel Ridge (JR-24-51 to JR-24-54). HD Drilling, based out of Winnemuca, Nevada, have completed the drilling in a most cost-efficient and proficient manner.
The last hole completed, JR-24-54, yielded several gossanous intervals containing iron oxide minerals in strongly altered rocks. In particular, a 7.60-metre-long interval in this hole, yielded a visually promising intensely oxidized interval (95% iron oxide minerals) in karsted terrain within the Hamburg Dolomite. The Hamburg dolomite is a very important lithotype for hosting CRD as well as disseminated deposits. Results for all drill holes will be released as they become available.