VTEM Plate Modelling at Marshall Lake Confirms 3 Drill Ready Copper-Zinc-Silver-Gold Targets
5514167.1
News Release No: 17-02
VTEM Plate Modelling at Marshall Lake Confirms
3 Drill Ready Copper-Zinc-Silver-Gold Targets
February 7, 2017 – Toronto, ON - Copper Lake Resources Ltd. (TSX-V: CPL, Frankfurt: W0I)
(“Copper Lake” or the “Company”) is pleased to announce the Company has completed new
plate modelling of VTEM surveys and outlined 6 plate anomalies in the core Marshall Lake area.
The Company has reviewed the 6 modelled plate anomalies and will focus on 3 which have
significant adjacent historical massive sulphide drill intercepts.
Highlights:
• VTEM-001 modelled plate at Billiton South is located down dip of hole MAR -07-11
which:
o Intersected 10.20m @ 1.25% Cu, 1.04% Zn, 56g/t Ag & 0.04g/t Au from 115.0m
o Including 4.00m @ 1.93% Cu, 1.73% Zn, 86g/t Ag & 0.07 g/t Au from 124.0m
• VTEM-003 modelled plate at Teck Hill South was intersected by hole TK-08-09 which:
o Intersected 4.25m @ 3.79% Cu, 0.27 g/t Au, 38g/t Ag from 93.25m; and
o 4.70m @ 2.34% Cu, 0.11g/t Au, 25g/t Ag from 106.5m
• VTEM-002 modelled plate at Gazooma is located down dip of the following drill holes;
o 4.00m @ 1.73% Cu, 0.27g/t Au, & 34g/t Ag in hole GAZ-07-10 from 89.0m
o 3.00m @ 1.88% Cu, 0.62g/t Au, & 42g/t Ag in hole GAZ-10-15 from 127.0m
o 10.00m @ 1.18% Cu, 0.26g/t Au, & 28g/t Ag in hole GAZ-08-12 from 127.0m
Copper Lake Interim CEO Terry MacDonald stated that “The 2016 VTEM plate modelling
program resulted in 6 key VTEM plate anomalies. Review of the modelled plates in collaboration
with the newly compiled historical drilling data base has shown that 3 of modelled VTEM plates
(VTEM-001, VTEM-002 and VTEM -003) have adjacent historical drill holes w hich intersected
significant copper-zinc-silver-gold mineralization. The 3 selected plates all remain open at depth
and present themselves as drill ready targets.
It is the Company’s intention to drill test these high priority targets as soon as possible and we
currently have a plan to conduct a drilling pr ogram that will consist of a minimum of 3,000
metres of drilling.”
2016 Database Compilation work
During 2016 Copper Lake completed a data base compilation of all historical exploration work
on the Marshall Lake project area including drilling, surface sam pling and geophysical VTEM,
IP and magnetic surveys. This compilation and interpretation resulted in the plate modelling of 6
VTEM anomalies within the core Marshall Lake area. The compilation and review of historical
drilling has shown that 3 of the plates have adjacent drill holes hosting significant copper -zinc-
gold-silver mineralization corresponding with extensions of the modelled plates.
All plates modell ed occur within the main mineralized horizon occurring within the Marshall
Lake area associated with a felsic tuff package of volcanic lastic units. The location of the other
modelled plates and occurrence of other copper mineralized zones historically intersected in drill
holes is being reviewed.
Figure 1: Marshall Lake: Modelled VTEM Plate Location Map
VTEM-001: South Billiton Zone
VTEM plate modelling showed an east dipping plate in the South Billiton area where the main
modelled plate corresponds with the down dip extensions of massive sulphide mineralization
intersected in hole MAR -07-11 hosted within a felsic tuffaceous volcaniclastic package (see
Figure 2). Historical drilling completed in 2007 drilled over the top of the plate and intersected
massive sulphide lenses containing up to 4.0m @ 1.93% Cu, 1.73% Zn, 86g/t Ag and 0.07g/t Au
at a depth of 124.0m (Table 1).
Table 1: Billiton South: VTEM-001 Significant Drill Intercepts
Intercepts are calculated using a 0.5% Cu cut-off grade, maximum 1m internal dilution and no top capping. Intercepts are drill widths.
Figure 2: VTEM-001 Plate, South Billiton Cross Section
VTEM-003: Teck Hill South Zone
VTEM plate modelling of anomalies in the Teck Hill South area showed a shallow east dipping
plate where the main modelled plate corresponds with the lower of two zones of massive
sulphide mineralization intersected in hole TK-08-09. The massive sulphide zones intersected are
hosted within an east dipping felsic tuffaceous volcaniclastic package ( see Figure 3). Historical
Hole # From (m) To (m) Width (m) Cu (%) Zn (%) Ag (g/t) Au (g/t)
MAR-07-11 115.0m 128.20m 10.20m 1.25% 1.04% 56 0.04
Includes 124.0m 128.0m 4.0m 1.93% 1.73% 86 0.07
drilling completed in 2008 drilled into the upper extensions of the plate and intersected massive
sulphide lenses containing up to 4.25 m @ 3.79% Cu, 1.04% Zn, 56g/t Ag and 0.04g/t Au at a
depth of 93.25m and a second zone at a depth of 106.50m hosting 4.70m @ 2.34% Cu, 25g/t Ag
and 0.11g/t Au. A number of historical holes tested the felsic unit above the modelled plated but
were too shallow to test the main zone of mineralization or the VTEM plate.
Table 3: Teck Hill South Zone: VTEM-003 Historical Significant Drill Results
Intercepts are calculated using a 0.5% Cu cut-off grade, maximum 1m internal dilution and no top capping. Intercepts are drill widths
Figure 3: VTEM-003 Plate, Teck Hill South Cross Section
VTEM-002: Gazooma Zone VTEM Plate Modelling
Plate modelling of the VTEM -002 anomaly at Gazooma showed a gently east dipping plate
down dip of several mineralized intercepts intersected in historical drilling (see Figure 4) .
Massive sulphide intercepts intersected up dip of the modelled plate intersected zones of 4.0m @
1.73% Cu, 0.27g/t Au, and 34g/t Ag in holes GAZ -07-10, 3.0m @ 1.88% Cu, 0.62g/t Au, &
42g/t Ag in hole GAZ-10-15 and 10.0m @ 1.18% Cu, 0.26g/t Au, & 28g/t Ag in hole GAZ-08-
12. The VTEM -002 modelled plate represent s down dip extensions of these zones of
Hole # From (m) To (m) Width (m) Cu (%) Zn (%) Ag (g/t) Au (g/t)
TK-08-09 93.25m 97.50m 4.25m 3.79% 1.04% 56 0.04
TK-08-09 106.50m 111.20m 4.70m 2.34% NSR 25 0.11
mineralization. Historical significant results from drilling above the plate are listed in Table 3. A
number of relatively shallow historical holes have tested the tuffaceous felsic volcaniclastic unit
located above the VTEM plate. However, the main modelled plate remains untested and is one of
the 3 priority drill targets.
Table 3: VTEM-002 Plate: Gazooma Zone Significant Drill Results
Intercepts are calculated using a 0.5% Cu cut-off grade, maximum 1m internal dilution and no top capping. Intercepts are drill widths.
Figure 4: VTEM-002 Plate: Gazooma Cross Section
VTEM Surveys and Plate Modelling
Plate modelling and interpretation was conducted by Je nna McKenzie, P.Geo of Ronacher
McKenzie Geoscience with assistance from Winnie Pun , P.Eng who conducted the modelling
using EMIT software Maxwell. Bob Lo P.Eng advised and reviewed all of the models. The
modelling was performed on 2 Versatile Time- Domain Electromagnetic (“VTEM”) surveys
Hole # From (m) To (m) Width (m) Cu (%) Ag (g/t) Au (g/t)
GAZ-07-10 89.00 93.00 4.00m 1.73% 34 0.27
GAZ-08-12 127.00 137.00 10.00m 1.18% 28 0.26
GAZ-10-15 127.00 130.00 3.00m 1.88% 42 0.62
flown by Geotech Ltd in 2007. Survey 7014 covers the central portion of Marshall Lake and
consists of 178.9 line -km flown at 150m line spacing covering 22.8sq.km and Survey 7083
covers the surrounding area consisting of 1,308 line -km flown at 150m line spacing covering
196.5 sq.km.
QA/QC Procedures
For the 2007 to 2010 drilling, half core was cut, sampled and shipped to the ALS -Chemex
sample preparation facility in Thunder Bay. The prepared pulp was assayed for Au by fire assay,
and base metals by multi -element ICP by ALS -Chemex in Vancouver. Certifi ed standards were
routinely inserted and pulp repeat assays performed. Prep aration and assaying was performed to
industry standards.
The content of this press release has been reviewed by Gary O’Connor, MAusIMM, a director of
Copper Lake Resources
About Copper Lake Resources
Copper Lake Resources Ltd. is a publicly traded Canadian company currently focused on
advancing two significant properties located in Ontario, Canada:
1. The Marshall Lake VMS copper, zinc, silver and gold property is an advanced explora tion
stage property located 120 km north of Geraldton, Ontario via good all weather gravel road
from the Trans-Canada Highway and just 22 km north of the main CNR rail line.
Copper Lake currently has a 68.75% interest in the property and has the option to increase its
interest to 75% b y incurring additional expenditures of $670,000 by July 15, 2017. The
Company can further increase its interest to 87.5% by taking the project to bankable
feasibility stage.
2. The Norton Lake nickel, copper, PGM property (69.79%) is located approximately 100 km
north of the Marshall Lake property.
On behalf of Copper Lake Resources Ltd.
“Terrence MacDonald”
Interim CEO
The TSX Venture Exchange has not reviewed this news release and does not accept responsibility for the
adequacy or accuracy of this release. This news release includes certain statements that may be deemed
"forward-looking statements". All statements, other than statements of historical facts, that address such
matters as future exploration, drilling, exploration activities, potential mineralization and resources and
events or developments that the Company expects, are forward looking statements and, as such, are subject to
risks, uncertainties and other factors of which are beyond the reasonable control of the Company. Although
the Company believes the expectations expressed in such forward-looking statements are based on reasonable
assumptions, such statements are not guarantees of future performance and actual results or developments
may differ materially from those in forward-looking statements. Factors that could cause actual results to
differ materially from those in forward-looking statements include such matters as market prices, exploitation
and exploration results, continued availability of capital and financing, and general economic, market or
business conditions. Any forward-looking statements are expressly qualified in their entirety by this cautionary
statement. The information contained herein is stated as of the current date and subject to change after that
date