Crystal Lake Announces Initial Diamond Drill Assay Results From Burgundy Ridge – Results Include 91.26m Of 0.38% Cu, 0.30 G/T Au, 4.12 G/T Ag Near Surface On 180m Step Out

October 25, 2019, Vancouver, British Columbia – Crystal Lake Mining Corporation (TSXV: CLM OTC: SIOCF FSE: SOG-FF) (“Crystal Lake” or the “Company”) is pleased to announce the results from the first two of ten drill holes in its  maiden diamond drill program at Burgundy Ridge (will now be referred to as the “Ridge Zone”).

Diamond Drill Hole BRDDH19-002 (“Hole #2”) at the Ridge Zone intercepted 91.26 metres of 0.38% Cu, 0.30 g/t Au, and 4.12 g/t Ag starting at a depth of 36.7 metres. (Table 1).

Furthermore, a higher-grade core of mineralization within the 91.26 metre interval assayed 25.78 metres of 0.73% Cu, 0.63 g/t Au, 9.36 g/t Ag, and 0.11% Zn starting at 82.22 metres depth.

The first Diamond Drill Hole BRDDH19 001 (“Hole #1”) drilled on the Ridge Zone also intercepted high-grade Cu-Au-Ag mineralization with an interval of 4.66 metres at 1.35% Cu, 0.72 g/t Au, 9.04 g/t Ag, and 0.17% Zn within a broader mineralized intercept of 59.00 metres of 0.28% Cu, 0.16 g/t Au, and 2.44 g/t Ag starting at a depth of 21.00 metres downhole (Table 1).

Highlights

  • BRDDH19 002 (Hole #2 on the Ridge Zone): 26 metres of 0.38% Cu, 0.30 g/t Au, 4.12 g/t Ag starting at 36.67 metres (Table 1).
  • Including 76 metres of 0.73% Cu, 0.63 g/t Au, 9.36 g/t Ag, and 0.11% Zn starting at 82.22 metres.
  • Both Hole #1 & Hole #2 (BRDDH19 001 and BRDDH19 002) intersected copper, gold, silver, and zinc rich mineralization on a 180-metre step out from 2018’s Reverse Circulation (“RC”) drilling, and a ~40 to 85 metres down dip separation.
  • A total of 7 samples (both within and outside of highlighted intervals) returned assays of >1% Cu (Table 2).
  • Assays remain pending on 8 of 10 diamond drill holes completed at the Ridge Zone in 2019.
  • The system remains open in all directions and at depth.

Map of Crystal Lake’s Burgundy Trend at the Newmont Lake Project, British Columbia

TABLE 1

Discussion

The second diamond drill hole BRDDH19-002 at the Ridge Zone, did not make it to its final target and collapsed at a depth of 147 metres due to bad ground conditions, 203 metres short of its target depth of 350 metres for the first-pass drilling.

The Ridge Zone is part of the larger Burgundy Trend, an area that received its first ever drilling on October 2018 via RC drilling (see March 7th, 2018 release). The drill pad (“Pad A1”), from which Diamond Drill Hole BRDDH19-001 (“Hole #1”) and Drill Hole BRDDH19-002 (Hole #2) were completed, is a 180-metre step out from the 2018 RC drilling location.

At the Ridge Zone mineralization vectored into a zinc-rich zone of the system SE of the collar location in Hole #1 (BRDDH19-001) with 18.78 metres of 0.31% Cu, 0.18 g/t Au, 6.00 g/t Ag, and 0.35% Zn starting at 125.52 metres. Higher grade zinc intercepts up to 1.32% Zn, 0.50% Cu over 2.00 metres and 0.72% Zn, 0.27% Cu over 1.55 metres sit within a broader 74.5 metre zinc-enriched horizon.

A seventh high-grade copper intercept was encountered below the zinc horizon in Hole #1 (BRDDH19-001) with 1.85 metres of 1.04% Cu, 0.17 g/t Au, 4.78 g/t Ag, and 0.24% Zn (Table 2). This is synonymous with high-grade copper mineralization intersected in 2018 RC drilling more than 200 metres away down plunge.

TABLE 2: Summary of high-grade copper intercepts

Maurizio Napoli, President / CEO of Crystal Lake commented: “We are happy with the results from the first two diamond drill holes drilled by any company at Burgundy Ridge (Ridge Zone). The grade and length of these intercepts is considerable given the two drill holes are shallow test holes in an area not previously tested by diamond drilling. The fact that mineralization is near surface unlike many deposits in the area is also a critical factor. Given our significant drilling step outs and stronger visual sulphide mineralization in holes that still have pending assay results on another >250-metre step out, we are pleased with the size of the system that we are starting to delineate on the Burgundy Trend.”

This new drilling data in conjunction with dense hyperspectral, alteration, lithology, structural and surface data indicates that much of the widespread copper, gold, silver, and zinc mineralization at surface and open to a minimum depth of 147 metres is likely a “skarn” mineralization zone that is part of a multi-kilometre copper, gold, and silver-rich alkalic porphyry system in the greater Burgundy Trend.

Cole Evans, President / CEO of HEG commented: “Many of the world-class porphyry deposits throughout the Pacific Ring of Fire have skarn components similar to our early observations at the Ridge Zone of the Burgundy Trend. There are many “pimple skarns” in the Golden Triangle, but what makes Burgundy Ridge exciting are the initial indications of substantial size. We have made ~200 metre step outs and have intersected similar copper, gold, silver, and zinc mineralization across the Ridge Zone. It takes a large, hot, and hydrous intrusion to drive the kind of fluids needed for these conditions. Most of the world’s copper and gold comes from porphyry deposits.”

Chalcopyrite and pyrite mineralization from the Ridge Zone Hole #1 (BRDDH19-001). Individual sample assayed 1.04% Cu, 0.17 g/t Au, 4.78 g/t Ag, and 0.24% Zn over 1.85 metre sample.

Representative sample of “blebby” chalcopyrite mineralization within “skarn-type” mineralization in Ridge Zone Hole #2 (BRDDH19-002).

The Burgundy Trend is Close to Major Infrastructure

The Burgundy Trend is located less than 20kms from the 303-megawatt AltaGas hydroelectric power facility completed in 2015. Manulife Financial and Axium Infrastructure purchased 90% of the project for net proceeds of $1.37 billion USD in 2018. The 72-megawatt Mclymont Creek Hydroelectric Plant and access road sit on the southern boundary of the Newmont Lake Project. The road which was constructed for access to these hydroelectric facilities skirts the southern boundary of Crystal Lake’s Newmont Lake property. Additionally, the Galore Creek access road runs through the northern portion of the Newmont Lake Property.

Newmont Lake ‘Project Phase 1 Exploration Programs’ Highlights – Three New Surface Discoveries Expand and Infill the Greater Burgundy Trend

Rapidly receding glaciers at Burgundy continue to expose new mineral showings on surface. Three new surface showings of significance were discovered in 2019 that were previously covered by ice and snow. These showings range from potassic altered, chalcopyrite mineralized megacrystic syenites, to hydrothermal chalcopyrite and sphalerite cement breccias with potassic altered, chalcopyrite mineralized clasts observed discontinuously over a 1,100-metre strike length.

On the southeastern end of Burgundy Ridge, a continuous 37 metre surface channel sample was taken crosscutting a sulphide-rich cemented hydrothermal breccia and 10 to 30-centimetre chalcopyrite veins at the newly exposed Green Rock showing across the general mineralization trend. The channel sample ended in strong sulphide mineralization at 37.00 metres due to snow cover. Assay results from this channel sample are pending.

Representative sample from Ridge Zone Channel Sample #1 (“BRCH19-001”); a 37-metre continuous channel sample taken on surface at the “Green Rock” showing. Chalcopyrite, sphalerite, and pyrite cement of hydrothermal breccia is observed. This new showing is ~350m south of drill pad “A-1” along the Burgundy Ridge Trend. Assay results are pending.

K-feldspar altered megacrystic syenite with chalcopyrite mineralization found in outcrop at “Rock Island II”, a new showing ~470 metres NE of Burgundy Ridge exposed by rapidly receding glaciers.

Chalcopyrite mineralization hosted in a potassic, hematite, and carbonate altered porphyritic syenite found at outcrop on “Rock Island I”; a new showing ~800 metres NE of Burgundy Ridge and ~500 metres NW of the Telena Zone.

Resignation of Richard Savage from Board of Directors

Mr. Richard Savage has tendered his letter of resignation from the Board of Directors of Crystal Lake Mining Corporation as of October 24th, 2019 to pursue new interests. Maurizio Napoli, CEO and President will replace him on the Board of Directors.

 

Qualified Person

 

The technical information in this news release has been reviewed and approved by Mr. Maurizio Napoli, P. Geo., CEO/President for Crystal Lake Mining, a Qualified Person responsible for the scientific and technical information contained herein under National Instrument 43-101 standards.

 

About Crystal Lake Mining

Crystal Lake Mining is a Canadian-based junior exploration company focused on building shareholder value through high-grade discovery opportunities in British Columbia and Ontario. The Company has an option to earn a 100% interest in the Newmont Lake Project, one of the largest land packages among juniors in the broader Eskay region in the heart of Northwest B.C.’s Golden Triangle.

On Behalf of the Board of Directors,

CRYSTAL LAKE MINING CORP.

 

“Maurizio Napoli”

President & CEO

 

Email: info@crystallakemining.com

 

www.crystallakemining.com

 

For further information please contact:

 

MarketSmart Communications

Tel: +1 (604) 261-4466

Toll Free: +1 (877) 261-4466

Email: info@marketsmart.ca

 

Momentum Public Relations

Tel: +1 (514) 815-7473

Email: mark@momentumpr.com

 

Cautionary Statement of Photo Gallery:

Please note the visualizations are selected images highlighting strong visual mineralization from a variety of new showings and recent diamond drill core. Mineral identification has been determined visually by geologists and cross-referenced via mobile X-ray Fluorescence elemental geochemical techniques (ThermoScientific Niton XL5 pXRF).  Portable XRF data is not provided as it is not an indicator of representative geochemistry of the entire rock mass. The reader should also note that while relative spatial information is provided, mineralization is not necessary representative of space between any given location and it should not be assumed that lateral continuity exists. The reader is encouraged to exercise caution, due their due diligence, and determine their own conclusions with the information provided.

QAQC/ Analytical Procedures

Rock samples from the Newmont Lake Project were sent to MSA LABS’ preparation facility in Terrace, B.C., where samples were prepared using method PRP-910. Samples were dried, crushed to 2mm, split 250g and pulverized to 85% passing 75 microns. Prepped samples were sent to MSA LABS’ analytical facility in Langley, B.C, where 50g pulps were analyzed for gold using method FAS-121 (fire assay-AAS finish). Gold assays greater than 100 g/t Au were automatically analyzed using FAS-425 (fire assay with a gravimetric finish). Rock samples were analyzed for 53 elements using method IMS-230, multi-element ICP-MS 4-acid digestion, ultra-trace level. Silver assay results greater than 100 g/t Ag and cobalt, copper, nickel, lead and zinc greater than 10,000ppm were automatically analyzed by ore grade method ICF-6.

Crystal Lake Mining conducts its own QA/QC program where three standard reference material pulps, two blank reference material samples are inserted for every 100 samples when analyzing rock samples.

Soil samples from the Newmont Lake Project were sent to MSA LABS’ preparation facility in Terrace, B.C., where samples were prepared using method PRP-757. Soil samples were dried and screened to 80 mesh, discard plus fraction. Prepped samples were sent to MSA LABS’ analytical facility in Langley, B.C, where they were analyzed for 51 elements using IMS-131 for samples with 20g or greater and IMS-130 for samples between 0.5g and 20g.

Crystal Lake Mining conducts its own QA/QC program where three standard reference material pulps, two blank reference material pulps are inserted for every 100 samples when analyzing soil samples.

Forward-Looking Statement

This news release may contain certain “forward looking statements”. Forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Any forward-looking statement speaks only as of the date of this news release and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

 

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This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.

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