Copper Lake Resources Unveils Summer Exploration Plans for Marshall Lake Property
TL;DR
Copper Lake Resources CEO Terry MacDonald outlines summer exploration program at Marshall Lake property, aiming for significant discoveries.
The exploration program will leverage latest geophysical techniques to target accessible zones year-round for continuous exploration activities.
The exploration program could lead to the discovery of multiple deposits, potentially making a positive impact on the local community and economy.
Copper Lake Resources plans to raise up to $2.5 million in gross proceeds through a non-brokered private placement financing to support exploration activities.
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Copper Lake Resources CEO Terry MacDonald has revealed the company's upcoming summer exploration program at their Marshall Lake copper-zinc-silver property in Northwestern Ontario. This property is notable for its several zones with significant historical copper-zinc-silver intercepts identified through diamond drilling, particularly the Teck Hill-Gazooma and Gazooma North-RM-Lease target areas.
MacDonald emphasized that these exploration zones are accessible year-round, which allows the company to leverage the latest geophysical techniques continually. This continuous access enhances the potential for significant discoveries. The company's exploration strategy aims to develop Marshall Lake into a Noranda-style Volcanogenic Massive Sulphide (VMS) camp with multiple deposits. A crucial part of this strategy is the ongoing exploration of the Conductive Centre at the Billiton zone, depending on favorable weather conditions.
To advance 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, which are potential drill targets. These targets could reveal extensions of the high-grade historical drilling intercepts, thereby expanding the mineralized zones. The geophysical surveys are planned for this summer, with subsequent drilling of selected targets based on the survey results.
In addition to their exploration plans, Copper Lake Resources announced 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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