Last year\u2019s maiden diamond drill program at the Burgundy Ridge area within\u00a0Crystal Lake Mining\u2019s\u00a0551-sq.-km Newmont Lake property in British Columbia’s Golden Triangle returned broad copper-gold-zinc-silver intercepts as well as high-grade gold mineralization. <\/p>\n
Based on the drill results, the company sees potential for alkalic porphyry hypogene mineralization underneath Burgundy Ridge.<\/p>\n
The diamond drill campaign tested the Green Rock, Ridge and Ridge West zones within the Burgundy Trend at Newmont Lake. <\/p>\n
The company\u2019s most recent press release includes both polymetallic intervals as well as its first high-grade gold intervals.<\/p>\n In 2018, Crystal Lake entered into an option agreement with Romios Gold Resources to earn a 100% interest in Newmont Lake<\/p>\n<\/blockquote>\n<\/figure>\n At Green Rock, hole BR19-16 returned 51.4 metres of 0.46% copper, 1.22% zinc, 0.17 g\/t gold and 9.98 g\/t silver as well as 0.16% lead starting at 343.7 metres and targeted the Green Rock breccia, which was discovered last year. <\/p>\n According to Crystal Lake, the multi-stage Green Rock breccia appears geologically similar to breccia units at alkalic porphyry-type deposits.<\/p>\n Drilling at the Ridge zone, 250 metres north of Green Rock, returned 184.7 metres of 0.21% copper, 0.14 g\/t gold, 3.7 g\/t silver and 0.17% zinc starting at surface in hole BR19-13. <\/p>\n This intercept includes higher-grade sulphide intervals, which are suspected offshoots of the Green Rock breccia. To date, skarn-style mineralization at Ridge has been traced over 600 metres of strike, which remains open both along strike and at depth.<\/p>\n Drillhole BR19-04 completed at the Ridge West area intersected 1.5 metres of 15.05 g\/t gold and 4.03 g\/t silver starting at 149 metres. According to the company, these are the first indications of a potential high-grade gold system adjacent to the porphyry target. Further downhole, Crystal Lake also hit additional suspected offshoots of the Green Rock breccia, reporting 2.6 metres of 3.64% copper and 32.32 g\/t silver at 262.4 metres.<\/p>\n \u201cDrilling from the maiden diamond drill program at Burgundy Ridge is shallow and minimal relative to the size of the property and the scale of the alkalic copper-gold porphyry deposits that we are modeling and targeting at Burgundy,\u201d Cole Evans, the company\u2019s CEO, said in a release. <\/p>\n \u201cStrong surface and near-surface mineralization with alteration intersected thus far confirm the presence of well-mineralized alkalic porphyry systems along the 2.3-km Burgundy Trend. \u201c<\/p>\n Evans added that future work at Newmont Lake will be focused on vectoring into the centres of this alkalic porphyry mineralization.<\/p>\n Nine of the ten holes drilled at the project last year hit mineralization, mostly in skarns. Hole BR19-04 intersected potassium feldspar alteration within a unit with strong biotite alteration, which graded up to 1.74 g\/t gold, 5.04 g\/t silver and 0.09% copper over 4.6 metres. <\/p>\n According to Crystal Lake, this intercept could potentially be the first hypogene interval form Burgundy Ridge as the alteration is not associated with a breccia.<\/p>\n Crystal Lake is also completing geological dating and mineral deposition dating work at the University of British Columbia\u2019s research facility in Kelowna.<\/p>\n In 2018, Crystal Lake entered into an option agreement with Romios Gold Resources to earn a 100% interest in Newmont Lake. To do so, it must spend C$8 million on exploration at the project over a three-year period, pay Romios a total of C$2 million and issue the vendor 12 million of its shares.<\/p>\n In mid-June the company also announced that it intends to change its name to Enduro Metals.<\/p>\n Crystal Lake\u2019s stock was down 4% on Monday on the TSXV. The company has a C$17.9 million market capitalization.<\/p>\n\n