Copper Lake’S Recent Spectral Analysis Survey Identifies New Copper-Zinc Targets ON the Marshall Lake Copper Zinc Project
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News Release No: 20-11
COPPER LAKE’S RECENT SPECTRAL ANALYSIS SURVEY
IDENTIFIES NEW COPPER-ZINC TARGETS ON
THE MARSHALL LAKE COPPER ZINC PROJECT
July 7, 2020 - Toronto, ON - Copper Lake Resources Ltd. (TSX -V: CPL, Frankfurt: W0I)
("Copper Lake" or the "Company") is pleased to announce that further to the Company’s news
release dated May 4, 2020 (http://copperlakeresources.com/news/), the final results of the recently
completed spectral analysis surveys have identified several new copper -zinc targets on the
Marshall Lake Copper Project and surrounding area, northeast of Thunder Bay, Ontario. The new
targets occurring outside the existing claim boundary were subsequently staked by the Company
with an additional 148 mining claim units to cover the new ly identified anomalies. These new
claims are 100% owned by Copper Lake and are not subject to any royalties. The Company is
now planning follow-up surface exploration for this summer to investigate and prioritize the new
targets generated by the spectral analysis surveys for drilling later in the field season.
The Spectral Analysis survey took the long wave infrared data from the Terra satellite, and digitally
removed water, vegetation, cloud cover, and overburden. The survey identified th e intensity and
distribution of a suite of 16 minerals relevant to identifying copper-zinc-silver-gold volcanogenic
massive sulphide (“VM S”) mineralization. The work w as conducted by Aster Funds Ltd., of
Toronto, Ontario. Minerals identified in the spectral analysis survey included oxides, sulphides,
silicates, and alteration minerals.
The intensity and abundance of these 16 minerals were mapped over some 700 square km of the
Marshall Lake Project and environs . Specific minerals belonging to a ‘copper’ discovery group
and a ‘copper-zinc’ discovery group were identified and located. Each such mineral is a ‘Target
Vector Mineral’ and the overlap in area of the different Target Vector Minerals allows definition
of mineral trends over large parts of the Marshall Lake Project area.
There were six minerals identified in the Copper D iscovery Group and areas in which four, five,
and six of the minerals were contoured. Eight such areas were identified as anomalies. The
‘Copper-Zinc’ discovery group identified six anomalous areas, in which four, five, and six of the
specific Target Vector Minerals were present including the zinc ore mineral sphalerite. The two
groups of anomalies occur in close proximity to each other on the northern party of the Project
area consistent with them both being indicative of extensions to known zones of copper-zinc-silver
-gold VMS mineralization on the property. The maps illustrating these anomalies can be found on
the Company’s website at www.copperlakeresources.com/properties/marshall-lake/.
Copper Lake CEO Terry MacDonald said, “we are pleased that the Aster Funds Ltd . satellite
survey gives us the confidence that there are other potentially larger target areas on the Marshall
Lake Project to explore for copper-zinc mineralization. Many of these areas have not been explored
previously because of a lack of outcrop exposure with mineralized showings. These areas will now
be followed up by prospecting, mapping and sampling to confirm the presence of favo rable
geology for new VMS discoveries.”
Jim Steel MBA P.Geo. is the Qualified Person under NI 43-101 and has read and approved the
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technical content of this News Release.
About Copper Lake Resources
Copper Lake Resources Ltd. is a publicly traded Canadian company currently focused on advancing
its Marshall Lake and Norton Lake properties located in Ontario, Canada.
The Marshall Lake high-grade VMS copper, zinc, silver and gold property, comprises an area of
approximately 104 square km and is accessible by all- season road. Copper Lake has an option to
increase its interest to 87.5% from its current 75% interest. The Company filed an updated NI 43-
101 report dated June 7, 2016 which is available on SEDAR (www.sedar.com). The property now
includes the 148 newly staked 100% owned claims, which add approximately 30 square km to the
property.
In addition to the original Marshall Lake property above, Marshall Lake also includes the Sollas
Lake and Summit Lake properties, which are 100% owned by the Company and are not subject to
any royalties. The Sollas Lake property consists of 20 claim cells comprising an area of 4 square
km on the east side of the Marshall Lake property where historical EM airborne geophysical
surveys have outlined strong conductors on the property hosted within the same favourable felsic
volcanic units. The Summit Lake property currently consists of 100 claim cells comprising an area
of 20.5 square km, is accessible year round, and is located immediately west of the original
Marshall Lake property.
Copper Lake has a 71.41% interest in the Norton Lake nickel, copper, cobalt, PGM property,
located in the southern Ring of Fire area, is approximately 100 km north of the Marshall Lake
Property. Norton Lake has a NI 43-101 compliant Measured and Indicated resource of 2.26 million
tonnes @ 0.67% Ni, 0.61% Cu, 0.03% Co and 0.46 g/t Pd.
On behalf of the Board of Directors,
Copper Lake Resources Ltd. CHF Capital Markets
Terry MacDonald, CEO Cathy Hume, CEO
(416) 561-3626 (416) 868- 1079 x 231
[email protected] [email protected]
www.copperlakeresources.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of
this release.