TORONTO, ONTARIO--(Marketwired - July 7, 2016) - Copper Lake Resources Ltd. (TSX VENTURE:CPL)(FRANKFURT:W0I) ("Copper Lake" or the "Company") is pleased to announce that it has filed an updated National Instrument 43-101 Technical Report ("NI 43-101") on its Marshall Lake property (the "Property")
Highlights:
The updated 43-101 report incorporates re-interpretation of the Marshall Lake area bringing together numerous historic interpretations, government mapping, regional geophysics, and historical detailed geophysics. This process has enabled the Company to formulate a coherent fully integrated geological model of the numerous mineral occurrences located on the Marshall Lake property.
The new geological interpretation indicates additional exploration potential along strike and/or down dip from previously explored mineralization. As part of this undertaking, the correlation of the various mineralized zones to a single stratigraphic horizon brings a new understanding to the conductors identified from the historical electromagnetic surveys. The seven high potential VTEM anomalies represent the most obvious targets near known copper stringer mineralization that require further testing.
The report highlights a number of exploration targets that need to be re-examined and supports the continued development of new exploration targets. It is now recommended that a thorough compilation of all historical data is completed and a review of the geophysical and geological targets. The objective of this compilation and review is to define additional targets for follow-up and potential drill testing.
Grab sample results from the May 2016 site visit collected from the Main (Billiton) Zone included:
The 43-101 recommends a program of exploration consisting of 4 phases. The first three phases are budgeted at $1,200,000 and include the following:
The SEDAR filed NI 43-101 report is dated June 7, 2016 and was prepared for the Company by Thomas Hart, P.Geo who is acting as the Company's Qualified Person ("QP").
About Copper Lake Resources
Copper Lake Resources Ltd. is a publicly traded Canadian company currently focused on advancing two significant properties located in Ontario, Canada:
On behalf of Copper Lake Resources Ltd.
Terrence MacDonald, Interim CEO
The TSX Venture Exchange has not reviewed this news release and does not accept responsibility for the adequacy or accuracy of this release. This news release includes certain statements that may be deemed "forward-looking statements". All statements, other than statements of historical facts, that address such matters as future exploration, drilling, exploration activities, potential mineralization and resources and events or developments that the Company expects, are forward looking statements and, as such, are subject to risks, uncertainties and other factors of which are beyond the reasonable control of the Company. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include such matters as market prices, exploitation and exploration results, continued availability of capital and financing, and general economic, market or business conditions. Any forward-looking statements are expressly qualified in their entirety by this cautionary statement. The information contained herein is stated as of the current date and subject to change after that date
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