Visit this section of the web site for weekly updates throughout the balance of 2018 on Crystal Lake Mining’s exciting Newmont Lake Project.
Crystal Lake instantly became a major new player in the prolific Eskay Rift in late September, 2018, when the company announced a deal with Romios Gold to acquire a 100% interest in the 436 sq. km Newmont Lake Project (see September 24, 2018, and October 17, 2018, CLM news releases).
Dramatically, Crystal Lake quickly launched a first-pass reverse circulation (RC) drill program at two important target areas (Burgundy Ridge and Newmont Lake gold system) as winter conditions approached. Visual analysis of the rock chips was very encouraging, and initial results are expected during the second half of November.
The Newmont Lake Project features an established gold-copper-silver deposit (Newmont Lake) with excellent potential for expansion in addition to approximately two dozen mineral occurrences throughout a very large and under-explored land package in the heart of the Eskay Rift. Crystal Lake is now adding to its geological team in preparation for a major 2019 program to follow up on fall drilling results and a reinterpretation of very promising historic data.
Newmont Lake Gold Deposit
The Newmont Lake gold system remains open in all directions. Most of the drilling was carried out three decades ago to limited depths (less than 150 meters) while much of the drill core was not even sampled.
Historic intercepts include:
55 g/t Au, 40 g/t Ag and 0.97% Cu over 11 m (1987)
21 g/t Au and 1.4% Cu over 8.4 m (1989)
26.4 g/t Au and 21.3 g/t Ag over 14 m incl. 753 g/t Au and 462 g/t Ag over 0.44 m (2008)
While expansion of this gold-silver-copper deposit with historic (non-compliant) resources is a priority for the Crystal Lake team, the Newmont Lake Project features multiple mineral occurrences over a broad area.
Location, Location, Location!
Quite simply, the Newmont Lake Project is perfectly situated in one of the most mineralized parts of the planet and in area of British Columbia that was made for exploration and mining!
Geologists are excited by this target-rich under-explored environment with multi-commodity potential. Utilizing superior techiques and the latest technology, Crystal Lake will unlock the full value of the Newmont Lake Project.
Infrastructure improvements (roads, power) in recent years have proven to be extremely significant while major new players have entered the district in 2018 - Newmont Mining (immediately north of Crystal Lake at Galore Creek) and Hochschild Mining (immediately south of Crystal Lake at past producing Snip mine).
Dr. Lightfoot, Crystal Lake's Technical Adviser, commented: "The combination of mapping programs by the B.C. Geological Survey and operators going back to the 1980’s, coupled with new airborne electromagnetic methods, places the Newmont Lake Project in a whole new light. It is strategically positioned to achieve a place in the world's next great mining camp."
Burgundy Ridge is a compelling grassroots target exposed by a rapidly receding icefield. Estimates are that the glacier at Burgundy Ridge has retreated by several hundred meters in just the last few years. In October, Crystal Lake completed first-ever drilling at Burgundy Ridge as four relatively shallow holes targeted copper-oxide mineralization widely observed at surface.
Romios has previously reported that mineralization at Burgundy Ridge is associated with a garnet-epidoge skarn system which appears to be structurally and genetically related to a series of intrusive dykes.
Below is an example of the impressive surface mineralization at Burgundy Ridge.