Copper Lake Resources announces plans for summer exploration plans at Marshall lake Property
19.06.2024 | NewsDirect
Copper Lake Resources CEO Terry MacDonald joined Steve Darling from Proactive to share insights into the company's upcoming summer exploration program at their Marshall Lake copper-zinc-silver property in Northwestern Ontario. This property boasts several zones with significant historical copper-zinc-silver intercepts identified through diamond drilling. Key areas of interest include the Teck Hill-Gazooma and Gazooma North-RM-Lease target areas.MacDonald explained that the zones targeted for exploration this summer are accessible year-round, providing the company with the opportunity to leverage the latest geophysical techniques in these areas. This accessibility allows for continuous exploration activities, enhancing the potential for significant discoveries. The company's exploration strategy is built on the premise that Marshall Lake could evolve into a Noranda-style Volcanogenic Massive Sulphide (VMS) camp with multiple deposits. A key component of this plan involves the continued exploration of the Conductive Centre at the Billiton zone, contingent on favorable weather conditions.
To further their exploration efforts, MacDonald highlighted the use of Large-Loop Electromagnetic geophysical surveys as a cost-effective method to explore deeper geological formations. These surveys are designed to provide a more comprehensive understanding of the area's geology and to identify deep-seated conductors. Such conductors are potential drill targets that could reveal extensions of the high-grade historical drilling intercepts, thereby expanding the mineralized zones. The geophysical surveys are scheduled for this summer, with subsequent drilling of selected targets based on the survey results.
Additionally, Copper Lake Resources has announced plans to complete a non-brokered private placement financing, aiming to raise up to $2.5 million in gross proceeds. This financing is intended to support the company's exploration activities and further its development goals. The funds raised will be crucial in facilitating the advanced geophysical surveys and the drilling of promising targets, driving the company's exploration program forward.
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Proactive North America
+1 604-688-8158
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