Copper Lake Provides Exploration Update ON Its Marshall Lake Copper-Zinc-Silver Volcanogenic Massive Sulphide Project, Northern Ontario
News Release No: 22-02
COPPER LAKE PROVIDES EXPLORATION UPDATE ON ITS
MARSHALL LAKE COPPER-ZINC-SILVER VOLCANOGENIC
MASSIVE SULPHIDE PROJECT, NORTHERN ONTARIO
January 31, 2022 – Toronto, ON – Copper Lake Resources Ltd. (“Copper Lake” or the
“Company”) (TSX-V: CPL, Frankfurt: WOI, OTC: WTCF Z) is pleased to provide an update on
the exploration program currently being undertaken on its Marshall Lake copper-zinc-silver
volcanogenic massive sulphide (VMS) property, located northeast of Thunder Bay, Ontario, as
well as to announce the commencement of an orientation gravity survey on the property.
The primary focus of exploration, is a 3,000 metr e drilling program testing a large, strong
untested Induced Polarization (IP) anomaly (“deep IP target”), situated adjacent and below
the Billiton copper-zinc-silver VMS deposit, with a secondary focus on other base-metal
occurrences on the property, that have seen li ttle or no historical drilling . Due to extreme cold
weather conditions over the last several weeks, wh ich has resulted in multiple operating and
logistical problems at the drill and exploration camp, drilling progress has been slow and the deep
IP target has yet to be tested.
DRILLING UPDATE
Highlighting recent drilling, is the intersection of two well-mineralized zones in hole Mar-21-03
(64.20-66.87 metres & 72.33-76.07 metres, respectively). Both contain appreciable blebby,
stringer and heavily disseminated to semi-massi ve pyrite, chalcopyrite and sphalerite, hosted
within felsic volcaniclastic rocks characterized by intense biotite, chlorite , actinolite and silicic
alteration. Such mineralization and alteration, are typical of stringer or footwall zones, seen
proximal or below massive sulphide deposits (see Copper Lake news release, dated January 4,
2022).
The target for Mar-21-03 is a VTEM airborne conductor, modelled at a depth of 150 metres down-
the-hole. Mar-21-03 was completed to a final depth of 221 metres, encountering moderate sericite,
chlorite and biotite alteration in felsic volcanic rocks, containing mostly disseminated to heavily
disseminated pyrite with minor chalcopyrite and sphalerite. Based on the visual results seen in
Mar-21-03, it would appear that the VTEM anomaly is explained by the presence of the 2 well-
altered, mineralized zones seen at shallowe r depth, between 64.20 and 76.07 metres. A borehole
electromagnetic (BHEM) survey will be completed on this hole to help identify extensions of the
mineralized-altered zone and to assist in vect oring towards thicker accumulations of sulphide
mineralization at this locale.
Drill core for all mineralization obtained to date has been submitted to a laboratory for assay; drill
results will be released as they become available.
Due to extreme cold weather conditions and resulting operational difficulties being experienced at
the drill and camp site, the Company has decide d to implement a temporary pause in diamond
drilling, until February 7 th. This will allow the drilling contractor the opportunity to obtain the
requisite equipment to operate the drill effectively in cold weather conditions and for the Company
to operate the camp efficiently and ensure the safety of personnel.
DEEP IP TARGET
Drill holes Mar-22-01 and Mar-22-02 will test the heart of the deep IP target, characterized by
high conductivity/low resistivity and high chargeability, at a vertical depth of approximately 350
metres. Both holes are intended to intersect the deep IP target where the highest conductivity and
chargeability overlap, within this large un tested anomaly with dimensions of 800 x 300 x 300
metres (see Figures 1A and 1B). The anomaly is situated between 150 to 450 metres below surface
and represents a new target area, never previously tested by diamond drilling. The deep IP target
appears to be situated down-plunge from the Billiton copper-zinc-silver massive sulphide deposit
(historical resource of 2.2 MT at 1.3% copper, 4.2% zinc and 2.5 opt silver1) in a fold hinge,
a favourable structural location for finding large massive sulphide deposits.
An orientation gravity survey has commenced over the deep IP target to provide further data on
the size and geometry of the sulphide mineralize d zone and to assist w ith the targeting of future
drill holes. The gravity survey will be completed in a few days’ time with a preliminary
interpretation anticipated to be in-hand, within 7 days of the completion of the survey. A more
widespread survey may be warranted to help identify other deep drill targets within this large high-
priority area
Additionally, borehole electromagnetic (BHEM) surveys will be completed on all drill holes
undertaken by the Company on the deep IP target. BHEM surveys are important tools when
exploring for VMS deposits as they assist in vectoring towards conductive sulphide bodies.
DEEDS ISLAND TARGET
The Marshall Lake Belt clearly has potential for discovery of multiple VMS deposits - there are
several attractive targets that ha ve seen little or no drilling. The Deeds Island area is one such
target, comprising an 800-metre long zinc bedrock geochemical anomaly (up to 1,000 ppm zinc),
closely associated with a strong extensive garnet-actinolite alteration zone and coincident airborne
EM conductors. It is situated 6 km to the east of the Billiton deposit in younger rocks and represents
another prospective VMS target on the Property that has seen no historic drilling (see Figure 2).
A gravity survey will be completed over the Deeds Island area to help prioritize drill targets over
this large, prospective anomaly. This will occur following completion of the gravity survey over
the Deep IP target. Follow-up drilling will occur shortly thereafter, while freeze-up conditions
are in effect in this area.
1The resource described above is considered historic under NI-43-101 guidelines and have not been verified by an Independent
Qualified Person and therefore should not be relied upon. The Company is not treating the historic resource as a current Mineral
Resource
QUALIFIED PERSON
Donald Hoy, M. Sc., P. Geo., Copper Lake’s Vice President of Exploration, is the Qualified Person
responsible for the technical content contained in this news release.
ABOUT COPPER LAKE RESOURCES
Copper Lake Resources Ltd. is a publicly traded Canadian mineral expl oration and development
company with interests in two projects both located in Ontario. www.copperlakeresources.com
The Marshall Lake high-grade VMS copper, zinc, silver and gold project, comprises an area of
approximately 220 square km located 120 km nort h of Geraldton, Ontario and is accessible by
all-season road from the Trans-Canada Highway and just 22 km north of the main CNR rail line.
Copper Lake has a 75% interest in the joint ventured property, which consists of 233 claims and
52 mining leases. The project also includes 148 claim cells staked in 2018 and 2020 that are
100% owned and not subject to any royalties, which add approximately 30 square km to the
original 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 c onsists 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
favorable 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. The Marsha ll Lake project is located in the traditional
territories of the Aroland and Animbiigoo Zaagi igan Anishinaabek (“AZA”) First Nations.
Copper Lake also has a 71.41% joint venture interest in the Norton Lake nickel, copper, cobalt,
and palladium PGM property, located in the southern Ring of Fire area, is approximately 100 km
north of the Marshall Lake Property. The Norton Lake property 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. The Norton Lake property is located in the traditional territories of the Eabametoong
(“Fort Hope”) and Neskantaga First Nations.
On behalf of the Board of Directors,
Copper Lake Resources Ltd.
Terry MacDonald, CEO
(416) 561-3626
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.
ML_VTE
ML_VTEM_023-01
462,000 mE
462,500 mE
5,586,000 mN
463,000 mE
5,585,000 mN
5,585,500 mN
Dog Island
ML_VTEM_020-01
EM_021-01
464,500 mE
465,000 mE
464,000 mE
463,500 mE
Deeds
Island
Mar
L 100N
L-1200N
L-1100N
L-200N
L-300N
L-400N
L-500N
L-600N
L-700N
L-800N
L-900N
L-1000N
k
0
465,500 mE
5,585,500 mN
5,585,000 mN
5,586,000 mN
rshall Lake
3
kilometres
6
462,500 mE
462,000 mE
463,000 mE
5,584,000 mN
5,584,500 mN
BL 0
465,000 mE
464,500 mE
464,000 mE
463,500 mE
1
kilometres
0.50
L-100N
L-0
TL 1400E
V
Q
5,584,000 mN
465,500 mE
5,584,500 mN
Garnet-Actinolite
Alteration Zone
Diamond Drill Collar
Zn Geochemistry
100ppm Contours
Anomaly Name
LEGEND
VTEM Anomaly
Questor Anomaly