Correction from Source: Golden Pursuit’s 2025 Exploration Program at Gordon Lake Project, Northwest Territories
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Correction from Source: Golden Pursuit’s 2025 Exploration Program at
Gordon Lake Project, Northwest Territories
Vancouver, B.C. June 04, 202 5: Golden Pursuit Resources Ltd . (TSX -V: GDP) is
pleased to announce the commencement of work on its 2025 exploration program at its Myrt
Lake, Murray Lake, and DAF properties located in the high-grade Gordon Lake gold
mining district of Canada's Northwest Territories.
This press release is effective immediately and replaces the press release issued on June
03, 2025. This revised version contains material changes, including the disclaimer of the
use of historical information and the approval by a Qualified Person in accordance with
NI-43 guidelines.
Highlights
• Litho-Structural Mapping and Sampling: Detailed litho-structural mapping and
additional rock and till sampling will be carried out at three of our properties: Myrt
Lake, Murray Lake and DAF. Detailed mapping data, structural measurements and
rock sampling aim to increase the extent of near-surface high-grade mineralization
surrounding known workings and mineralization showings. More extensive
reconnaissance mapping and soil/till sampling will be conducted to identify new
exploration targets. Channel sampling may also be added to better understand
gold distribution and grade continuity along mineralized veins, wall and host rocks.
• Photogrammetry and Magnetics Drone Survey: A property-scale
photogrammetry and magnetics survey will be performed across the entire project.
This will provide high-resolution (up to 3 cm spatial resolution) imagery for
interpretation to build 3D wireframe mesh data for our geological modeling and
project planning. The photogrammetry and magnetics data will be combined with
mapping, geophysical, and a ny other data to be integrated into our geological
model. Since the images will be acquired in the summer with good outcrop
exposure, the photogrammetry mapping can be done remotely all year round.
• Assay and Multi-Element Geochemical Analyses: Rock samples will be sent to
the ALS laboratory in Yellowknife for assay and geochemical analyses . Results
are expected for October 2025.
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Figure 0. Gordon Lake Project and 2025 Exploration Properties.
Exploration History
The Gordon Lake Project has an extensive exploration history dating back to the late 1930’s.
There are multiple gold showings within the Project boundary that have had varying degrees
of exploration and underground development. The last period of sustained exploration
activity in the Kidney Pond and Lynk areas was in the 1980’s. Recently in 2020, Golden
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Pursuit Resources Ltd. acquired and consolidated all the properties in the Gordon Lake
Project. Exploration permits for the Company’s properties are approved through 2030,
including First Nations approvals and permits. The Company looks forward to the
construction of an all-weather road connecting Gordon Lake to Tibbit Lake, approximately
30 km long, which will dramatically reduce the Company’s exploration and drilling costs.
The historical assay results (Christensen, 1985) and resource estimates (Knutsen,
1987) referenced in this press release were calculated prior to NI -43 guidelines and
therefore do not conform to current estimates and are not being used as estimates.
A resource estimate needs to be validated by a QP and that is not the purpose of this
release. Th e historical information is relevant because it demonstrates the
consistency of exploration at these formerly producing mines over decades. These
are the most recent reports for both areas. Golden Pursuit Resources has compiled
all historical data for Gordon Lake as well as recently acquired new data (2020-2024).
The Company issued NI-43 reports in 2021 and 2022.
Golden Pursuit has undertaken several significant exploration programs in the area
including LiDAR surveying, geological mapping and sampling, IP surveying, ground
magnetic surveying, and 3D litho-structural modelling. The proposed 2025 program will
build on both the historic and recent exploration results.
The exploration history is summarized in Table 1 (which summarizes work in the DAF area)
and Table 2 (which summarizes work in the Lake Murray and Myrt Lake areas). The 2025
exploration program will focus on detailed mapping and sampling in the DAF area to further
refine geological modeling, as well as preliminary geological mapping and sampling on the
Lake Murray and Myrt Lake properties to inform geological modeling of these two properties.
Table 1. Exploration history of significant mineral occurrences in the southern
Gordon Lake area. Part 1. Occurrences within the DAF property.
DAF VEIN (WEST BAY)
1946 (Zolata Yellowknife Mines): Woolgar and Wonnacott staked the property. Zolata Yellowknife
Mines optioned the property, performed trenching and 6700 feet of drilling.
1947 (McAvoy): Woolgar and Wonnacott along with J. McAvoy installed a small mill and hand cobbed
vein material to produce 50 ounces of gold from 18 tons (2.77 oz/ton).
1948 (West-Bay Yellowknife Mines Ltd.): Acquired the property and a larger mill was installed. Further
trenching, drilling, and milling produced 221 oz of gold, and 29 oz of silver from 289 tons of rock.
1958 (Consolidated Northland Mines Limited): Sampling program
1967 (Precambrian Mining Services Limited.): Evaluation Report
1977 (Reed and Doucette): Hand cobbed and milled ore, recovering 27 fine ounces of gold.
1981-1982 (Black Ridge Gold Ltd.): Black Ridge drills 21 holes totaling 420 meters. Several holes hit
very high values: 82-03 (4.536 oz over 3 feet), 82-04 (3.192 oz over 3 feet), and 82-05 (9.876 oz over 3
feet). Estimated that to a down dip depth of 64 feet there is a total of 814 tons of ore at 4.21 oz/ton (3400
oz).
1984 (Cruiser Minerals): Drill program under an option agreement, with 44 drillholes totaling 1635m.
Calculated an ore shoot 60 feet long by 5 feet wide, averaging 0.888 oz/ton to a depth of 300 feet. (5000
tons at 30.4 g/ton).
1987 (Blackridge and Cruiser Minerals): 400 meters drilled.
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1989-1990 (New Era Development and Cameron Mining): 5,540 tonnes bulk sampling. Reported
grade of 19 g/t. Over half was processed by Discovery Mine.
2020 (Golden Pursuit Resources Ltd.): Acquired the property.
2021 (Golden Pursuit Resources Ltd.): LiDAR survey, prospecting, and rock sampling (Vivian and
Bocking, 2022).
2023 (Golden Pursuit Resources Ltd.): Compilation of historic work and geological mapping (Prior et
al., 2023; Prior and Schmidt, 2023).
Table 2. Exploration history highlights of significant mineral occurrences
outside the southern Gordon Lake area. Part 2. Occurrences within the Murray Lake
and Myrt Lake properties.
MURRAY LAKE
1937-1940 (Cominco Limited): Extensive exploration work on the “Pan” claims, including more than 110
trenches, shallow diamond drilling, and two small shafts (8'X6' and 6'X5') completed, with gold showings of 310.9
g/t over 0.91 m and channel samples of 15.55 g/t Au (with veins up to 298.56 g/t Au).
1957-1960 (Alex Mitchell): Staked the “Bairn” claims and reported favorable horizons intersected by 5 drillholes.
1972 (North Star Mines Ltd.): Report on the MSSL claims, which cover the Pan and Bairn claims. The host rock
bordering the trenches was found to be auriferous.
1981 (Five Star Resources Ltd): Detailed mapping and sampling immediately south and southeast of the Murray
Claim, with the intent to estimate the size and number of gold -bearing veins and determine the structural setting
of the veins.
1982 (Hidden Lake Gold Mines Ltd): Limited geological mapping, sampling and prospecting. A quartz vein zone
was shown to contain high grades of gold mineralization with gold values up to 3.6 ounces of gold/ton across 1.5
feet width in a vein with a length of about 30 feet.
1981 (Dale Christensen): 26 shallow drillholes. The best result was 1.308 oz/ton gold (Christensen, 1985).
1985 (Henderson): Mapped the Yellowknife-Hearne Lake Area at a scale of 1:250,000. *Reported RC assay
results in Figure 3 presented here are historical, non -compliant with NI-43 guidelines, and are not being
used as current.
1994 (Brophy): Described the structure and geochemistry of vein-hosted gold in Burwash turbidites in the area.
2003 (Dahrouge Consulting): Staked the “Murray” claim and optioned to Evolving Gold Corp.
2008 (Triple Dragon): Dahrouge Consulting, on behalf of Triple Dragon, completed geologic mapping and
prospecting within the Murray claim. A total of six trench areas were outlined and chip sampled, and 198 samples
were collected and analyzed. The most promising result is from a quartz vein sample in Area A that assayed 187.71
g/T Au over 0.25 m.
2020 (Golden Pursuit Resources Ltd.): Acquired the property.
2021 (Golden Pursuit Resources Ltd.): LiDAR survey, prospecting, and rock sampling (Vivian and Bocking,
2022).
2024 (Golden Pursuit Resources Ltd.): Initial assessment, preliminary structural mapping and rock sampling
(Field report, 2024).
MYRT LAKE
1938-1939 (Dome Mines Limited): Extensive work included trenching, diamond drilling, and bulk sampling.
1959 (Sam Otto): Staked the “Myrt” claims.
1959 (Walter Temawski): Staked the “WT” claim group.
1938-1974 (Precambrian Mining Services): Surface rock trenching (736 feet in 33 trenches), surface diamond
drilling (8226 feet in 65 holes), surface geological mapping.
1974 (Cameron Holdings Limited): Decline of 466 feet, and 405 feet of drifting and crosscutting along the #1
vein. 3,650 feet of underground drilling in 15 drillholes. A total of 3,000 tons of ore grading 0.11oz/t was mined and
stockpiled. Ore reserves were estimated to be 25,275 tons grading 0.22 oz Au/ton down to 125'.
1984 (Ryan Energy): 10 drillholes (5,585 feet) verified that the #1 and #3 veins continue to the northwest and at
depth below 500 feet.
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1987-1989 (William Knutsen): Acquired the property and reported rehabilitation of the decline. Knutsen (1987)
calculated a minable resource to a depth of 110' of 17,510 tons grading 0.35 oz Au/ton, containing 6,132 oz Au.
*Reported resources presented here are historical, non-compliant with NI-43 guidelines, and are not being
used as current.
1992 (William Knutsen): Processed 2,152 tons of gold at Yellowknife Giant Mine, with 732 oz Au recovered at a
grade of 0.36 oz/t and 86% recovery rate.
2020 (Golden Pursuit Resources Ltd.): Acquired the property.
2021 (Golden Pursuit Resources Ltd.): LiDAR survey, prospecting, and rock sampling (Vivian and Bocking,
2022).
2025 Exploration Program
The 2025 exploration program on the Gordon Lake Project (Figure 1) was designed to
build on historical high -grade results and mine operations , where sampling and drilling
intersected significant gold mineralization. Planned detailed litho-structural mapping and
rock, soil, and till sampling will help to better understand the structural -geochemical
relationship to gold mineralization. Recent targeted exploration efforts have focused on
delineating targets, refining the geological model, and planning drillholes for the next
drilling campaigns. Further drilling will focus on both confirmation and step-out drilling to
enhance geological understanding and to test new targets identified through geophysical
and geochemical surveys.
The 2025 exploration program will be divided into two phases: one that includes initial
geological mapping and sampling for modeling purposes at Myrt Lake (Figure 2) and
Murray Lake (Figure 3) properties, and a second phase focusing on refined mapping and
modeling on the DAF (Figure 4) property for further drillhole planning.
1. Litho-structural mapping and extension of known mineralized zones: Initial
litho-structural mapping, rock and till sampling on Murray Lake and Myrt Lake to
understand controls on mineralization and start to build a geological model for
these deposits, including historic data. Detailed litho-structural mapping, rock and
till sampling to be integrated to geophysical surveys and geological models at DAF
property to expand on historic work, update and refine the geological model, and
drillhole planning.
2. Photogrammetry and magnetics survey : Golden Pursuit contracted Drone
North, a drone-survey company based in Yukon, to perform an Unmanned Aerial
Vehicle (UAV) mapping and image analysis including pro perty-scale
photogrammetry and magnetic survey over three Areas of Interest (AOI’s) to
complement ground -based exploration efforts. The high -resolution imagery
obtained with photogrammetry provides photography, detailed topographic data
and terrain models processed into 3D wireframes meshes. Drone North also
partners with AeroPhysX to provide very high quality and high-resolution magnetic
surveys. The magnetic data can be quite helpful to identify large-scale structures,
as well as geophysical anomalies, including sulfides (pyrrhotite) and iron oxides.
These data will assist in geological interpretation and structure delineation, and
used for geological 3D modeling, drillhole planning, and project management.
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Litho-Structural Mapping and Sampling Program
Detailed litho-structural mapping, as well as extensive surface rock and till sampling will
be conducted over the entire three properties. The objective is to understand the
structural-geochemical controls on mineralization. Rock and till sampling were designed
to fill gaps in historical data and provide a more detailed geochemical understanding of
gold distribution near high-grade zones to refine future drillhole planning.
Figure 2. Myrt Lake Property Exploration Plan.
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Figure 3. Murray Lake Property Exploration Plan.
Figure 4. DAF Property Exploration Plan.
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Photogrammetry and Magnetics Drone Survey
Golden Pursuit has hired Drone North, a drone -survey company based in Yukon, to
conduct a property-scale photogrammetry and magnetic survey to complement ground-
based exploration work. Th e high-resolution imagery obtained with photogrammetry
provides photography, detailed topographic data and terrain models processed into 3D
wireframes meshes. The magnetic data can be quite helpful to identify large -scale
structures, as well as geophysical anomalies, including sulfides (pyrrhotite) and iron
oxides. These data will support 2025 exploration activities (Figures 2-4) and further assist
in geological interpretation and structure delineation, and will be used for geological 3D
modeling, drillhole planning, and project management.
The photogrammetry and magnetic surveys will be carried out over three Areas of Interest
(AOI’s): Myrt Lake, Murray Lake and DAF properties. The proposed survey areas cover
approximately 10 km2 and consist of acquiring high resolution Unmanned Aerial Vehicle
(UAV) data, at approximately 40 meters high and with 50 meters line spacing, with lines
being oriented perpendicular to the geological fabric (Figure 5). Ground control point data
will be acquired during UAV surveying to carry out a camera calibration and to determine
final photogrammetric model errors. A magnetic base station will record diurnal variation
in magnetic field.
The photogrammetry products will include colour orthomosaic imagery, digital elevation
models including both digital surface models and digital terrain models, 3d georeferenced
cloud points (LAS), and final report. All photogrammetry data will be acquired to be
compatible with 3D mapping applications such as HiveMapTM.
For the magnetic survey, a very high -resolution elevation model will be generated from
UAV photogrammetry flights and then followed with the UAV magnetic sensor. A total of
270 line-km of magnetic survey is estimated. Final deliverables will include total magnetic
intensity, phasemap, vertical derivative, horizontal gradient, reduction to the pole, and
final report.