Copper Lake Signs Drill Contract with Forages Lamontagne Fortier
News Release No: 22-13
COPPER LAKE SIGNS DRILL CONTRACT
WITH FORAGES LAMONTAGNE FORTIER
December 8, 2022 - Toronto, ON - Copper Lake Resources Ltd. (TSX-V: CPL, Frankfurt: W0I,
OTC: WTCZF ) ("Copper Lake" or the "Company") that it has signed a drilling contract with
Forages Lamontagne Fortier Inc., based out of Évain, Quebec. The contract is for an initial 3,000-
metre drilling program on the Deep IP Discovery at its Marshall Lake copper -zinc-silver
volcanogenic massive sulphide (VMS) project.
The primary drill targets at the Deep IP Discovery are in a wet area and drilling will commence as
soon as freeze-up conditions are in effect. Mobilization of the drill to the property will likely occur
in mid to late December, with drilling commencing in early January 2023.
Deep IP Discovery
Drilling by Copper Lake in early 2022 yielded a new high-grade VMS occurrence, known as the
Deep IP discovery. Highlighting the new discovery are the following intercepts:
• 8.13% Cu1, 0.05% Pb, 7.26% Zn, 240.80 g/t Ag & 0.33 g/t Au (13.59% CuEq2) over 2.11
metres
• 5.81% Cu, 0.01% Pb, 7.32% Zn, 171.20 g/t Ag & 0.02 g/t Au (10.45% CuE q) over 1.95
metres.
• 2.37% Cu, 0.01% Pb, 1.75% Zn, 413.15 g/t Ag & 0.37 g/t Au (7.00% CuE q) over 6.00
metres, including 2.26% Cu, 0.01% Pb, 2.66% Zn, 1,580 g/t Ag (55.7 oz/t Ag3) & 1.28 g/t
Au (18.12% CuEq) over 1.21 metres
Subsequent large-loop electromagnetic surveys (“LLEM”) and borehole EM surveys completed
by Copper Lake delineated a conductive centre consisting of strong to very strong conductors. The
conductive center, approximately 500 metres by 300 metres in extent, is closely associated and
largely sits below, the high-grade mineralization documented above. The size, strength and
location of the conductive centre in relation to the high-grade mineralization is very promising and
suggests that additional high-grade mineralization may be present in the surrounding locale of the
Deep IP discovery (Figure 1A).
The LLEM survey also yielded an interesting build-up conductor, situated at a depth of 500 metres
below surface (Figure 1B). It appears to be the down- dip extension of the conductive centre that
significantly increases the prospective target area for potential massive sulphide mineralization.
Build-up conductors were also defined to the north of the conductive centre in an area of the
Property that has never been drilled. Notably, s urface sampling of outcrops overlying these
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conductors have returned copper values of up to 6%. Several other conductors were also defined
by the LLEM survey (Figure 2).
1Analyses completed by Activation Laboratories in Ancaster, Ontario, Ontario utilizing the 1A2 – Fire Assay AA finish, IH INAA
(INAAGEO)/Total Digestion (Total) and the UT-7, Sodium Peroxide Fusin (ICP & ICP MS) analytical packages
2 %CuEq calculated using metal prices of US$3.87 per lb. for Cu, US$0.89 per lb. for Pb, US$1.65 per lb. for Zn, US$21.39 per oz. for Ag &
US$1839.40 per oz. for Au
3 Conversion rate: 1 gram/tonne = 0.03527396 ounces/tonne
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 exploration 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 north 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 79.45% 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, wholly owned by the Company and 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 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 Marshall Lake project is located in the traditional territories of the Aroland
and Animbiigoo Zaagi igan Anishinaabek (“AZA”) First Nations.
Copper Lake also has a 69.79% 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
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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.
456,000 mE
457,000 mE
5,586,000 mN
458,000 mE
5,586,000 mN
5,585,000 mN
5,584,000 mN
TL 1000W
BL
TL 500W
TL 1500W
Outline of Intense
Silicification
Andalusite
Alteration Zone
Sericite Schist
Zone
Zone <1%
Na2O
5,586,000 mN
5,585,000 mN
5,584,000 mN
460,000 mE
5,587,000 mN
459,000 mE
600S
450S
150S
0
300S
900S
750S
400N
800N
700N
600N
500N
300N
100N
200N
TL 1500E
TL 1000E
TL 500E
1100N
1550N
1400N
1250N
950N
Priority 1 Conductor
Conductive centre
high-grade mineralization
Priority 2 Conductor
Good correlation with
mineralization & alteration
Priority 3 Conductor
Build-up anomalies
needing further characterization
GEOPHYSICAL LEGEND
457,000 mE
456,000 mE
458,000 mE
5,584,000 mN
500
metres
0
5,584,000 mN
459,000 mE
E
E
Figure 2
1,000