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.
Resource World Magazine Inc. has prepared this editorial for general information purposes only and should not be considered a solicitation to buy or sell securities in the companies discussed herein. The information provided has been derived from sources believed to be reliable but cannot be guaranteed. This editorial does not take into account the readers investment criteria, investment expertise, financial condition, or financial goals of individual recipients and other concerns such as jurisdictional and/or legal restrictions that may exist for certain persons. Recipients should rely on their own due diligence and seek their own professional advice before investing.