Resumption Of Drilling On The Jewel Ridge Gold Property

VANCOUVER - Golden Lake Exploration Inc. reported the resumption of drilling on the company's keystone Jewel Ridge gold property, located near the town of Eureka, NV. This phase 2 diamond drill program continues on from the summer Phase 1 drilling starting from a prepared drill pad on patented mineral claims located near the Eureka Tunnel adit area. The first angled hole is designed to test for oxide Carlin type oxide near the adit and CRD style replacement west of the adit portal. Additional drilling will focus on the Eureka Tunnel area for approximately a month, followed by drilling in the Hamburg Mine area.  

“We have switched to diamond drilling for Phase 2 and are aiming to get to depths not accomplished on Phase 1 due to tougher drilling conditions. Results to date have been very encouraging and we look forward to seeing the final 4 hole assays from Phase 1 as we now test deeper and outwards from the initial program coverage.” said, Mike England, President and CEO.

The summer drill program comprised 10 Reverse Circulation (RC) comprising 1,597.1 meters with three holes (548.6 meters) completed at the Hamburg Mine area, and six holes (1,048.5 meters) completed at the Eureka Tunnel Zone. The principal target at both areas is oxide Carlin-type gold mineralization, although intersections of oxide CRD (Carbonate Replacement Deposit) style were also tested.

Results released to date, includes highlights from the Hamburg Mine area in Hole JR-20-02 which intersected 35.05 meters averaging 0.63 grams gold per tonne (g/t Au) and 4.3 grams silver per tonne (g/tAg) from a depth of 146.30 meters, within a wider interval returning 0.44 g/t Au and 3.0 g./t over f  57.91 meters from a depth of 123.44 meters (to the end of the hole) Highlights from the Eureka Tunnel Zone in hole JR-20-05, an interval of 22.86 meters averaging 2.80 g/t Au and 5.9 g/t Ag, starting at surface. Drill hole JR-20-06 is the northernmost hole, drilled near the boundary on the patented claims, and is also the shallowest hole (91.44 meters). Sampled from the remaining four RC holes (560.8 meters) have been submitted to the lab and assays are pending.