Golden Pursuit Resources Announces Completion of the 2025 Exploration Program at Gordon Lake Project, NWT
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Golden Pursuit Resources Announces Completion of the
2025 Exploration Program at Gordon Lake Project, NWT
• Vancouver, B.C. September 18th, 202 5: Golden Pursuit Resources Ltd . (TSX -V:
GDP) is pleased to announce the completion of work on its 2025 exploration program at
its Myrt Lake property located in the high-grade Gordon Lake gold mining district of
Canada's Northwest Territories.
• This news release announces the results submitted with the 2025 Myrt Lake
Assessment Report, which fulfill the mandatory requirements for maintaining our Myrt
Lake federal claim and extending the claims until 2033.
• The historical mineral resource estimate reported for the Myrt Lake property is
considered relevant; however, it was prepared prior to the implementation of current
Canadian Institute of Mining, Metallurgy and Petroleum (CIM) Definition Standards and
without the application of modern quality assurance/quality control (QA/QC) protocols.
The Company has not completed sufficient work to verify the historical data underlying
the estimate, and the estimate should not be relied upon as a current mineral resource.
In order to upgrade and verify the historical estimate, the C ompany anticipates that a
program of data validation and confirmatory exploration will be required, including the
compilation and review of historical drill hole data, verification of collar locations and
surveys, re -logging and re -sampling of available co re, implementation of a modern
QA/QC program, and the completion of confirmatory drilling. Additional metallurgical
test work may also be necessary to demonstrate reasonable prospects for eventual
economic extraction. A new mineral resource estimate prepared in accordance with NI
43-101 and CIM standards would be required before the historical estimate can be
considered current.
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Highlights
• New high-grade results indicate a new mineralized zone: Gold assay results from
samples D6 -2 (25.2 g/t Au) and D10 (22.7 g/t Au) indicate the discovery of a new
mineralized zone. This discovered area lies approximately 2 km west of the historic
mine workings , with the samples aligning in a NW/SE orientation and taken from
gossanous outcropping rocks approximately 900 meters apart. Further work, including
geophysics and drilling, is planned.
• Additional high-grade confirmation includes a 41.7 g/t (ML-10) sample collected from
a well -mineralized quartz vein over 20 meters of width and at least 100 meters of
length. The mineralized vein is hosted within siltstone near former mine workings, and
contains significant galena, black sphalerite, silver and pyrrhotite in addition to gold. It
exhibits a distinctive blebby texture—where small, rounded blebs or inclusions of these
minerals are distributed throughout the vein material.
2025 Myrt Lake Exploration Program
• Litho-Structural Mapping and Sampling: Detailed litho -structural mapping and
additional rock sampling were carried out at the Myrt Lake property. Detailed
geological mapping data, structural measurements and rock sampling were conducted
to identify new exploration targets and to increase the extent of near-surface high-grade
mineralization surrounding known workings and mineralization showings (Figure 1).
• Assay and Multi-Element Geochemical Analyses: Rock samples were submitted
to the ALS laboratory in Yellowknife for assay and geochemical analyses (Figure 2).
Additional sampling results from other claim groups owned by the company are
expected by the end of September.
The Myrt Lake claims have been subject to several drilling campaigns and underground
development work. In 1974, exploration initiated with an underground development
program including a decline of 466 feet, and 405 feet of drifting and crosscutting along the
#1 vein . In 1977, additional 3,650 feet of underground drilling were completed in 15
drillholes. A total of 3,000 tons of ore grading 0.11oz/t was mined and stockpiled (Clarke,
1985). Ore reserves were estimated to be 25,275 tons grading 0.22 oz /t Au down to 125
feet. In 1984, Ryan Energy completed 5,585 feet (1,702 m) of drilling across 10 drillholes,
verifying the continuity of Zones No. 1 and No. 3 to the northwest at depths exceeding 500
feet (152 m). In 1989, the decline was rehabilitated, and 2,152 tonnes of the stockpile
material were sent to the Giant Mine for processing in 1992. From this material, 730 ounces
of gold grading 0.36 oz/t at a recovery rate of 86% were produced. 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. No work has been carried out since the completion of this bulk
sampling. *Reported resources presented here are historical, non -compliant with NI -43
guidelines, and are not being used as current (Knutsen, 1987).
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The 2025 exploration program on the Myrt Lake Project was designed to build on
historical high-grade results and mine operations, where sampling and drilling intersected
significant gold mineralization. Detailed litho-structural mapping and rock sampling helped
to better understand the structural -geochemical relationships associated with gold
mineralization. Recent targeted exploration efforts have focused on delineating targets,
refining the geological model, and planning drillholes.
The new results reported below (Table 1) reinforce the high -grade potential of the
Gordon Lake gold mining district. These results highlight the mineralization potential at the
Myrt Lake area and confirm the presence of very high-grade gold content near historic
workings. Ten samples out of a total of twenty-four showed gold grade results above a 0.2
g/t cutoff.
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Figure 1: Spatial distribution of structural measurements (planes – bedding, breccia, faults, joints,
and veins), historical workings, assay results and modelled wireframes at Myrt Lake. A: Historic
Myrt Lake Mine and 2025 data (planes and assays). B: Dome Number 6 (D6 -2) showing 25.2 g/t
Au - left. C: Dome Number 10 (D-10) showing 22.7 g/t Au – right - view to the west). Bottom right:
Stereonet of mapped planar structural data.
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Figure 2. Property outline of the Myrt Lake Claims showing structural interpretation, historic gold
showings, drillholes, and new sampled rocks with highlighted assay results.
Table 1. Geochemical assay results from the 2025 exploration program at Myrt Lake.
Original results are shown in Attachment 1 – ALS Report.
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References
• Clarke, W.E., 1985. Summary Report Diamond Drill Program 1984 - WT Property. Ryan
Energy Corporation Limited, January 1985. (N.W.T. Geoscience Office Assessment Report
#15272).
• Knutsen, W. G., 1987. Summary Report and Ore Reserve on the 'WT' Gold Property, Myrt
Lake, NWT. Prepared for Westfort Petroleums Ltd. Precambrian Mining Service Ltd.
• Prior, G.; Schmidt, N.; Gorham, J., 2023. Summary Report on the Gordon Lake Property.
Including: Burnt Island, Camlaren, H Vein, 31 Vein, May Island, Kidney Pond, Lynk, Murray
Lake, Myrt Lake, Storm, Goodrock, and Vaydik mineral occurrences. Northwest Territories,
Canada. Dahrouge Geological Consulting Ltd.
• Vivian, G; Bocking, N., 2022. Technical Report. South Gordon Lake Property, Northwest
Territories, Canada. Prepared for Golden Pursuit Resources Ltd. Aurora Geosciences.
Community Engagement
Golden Pursuit collaborates with First Nations organizations on whose t raditional
territories its projects are located , as well as with the Government of the Northwest
Territories, to advance their strategic interests and discuss opportunities to support
community initiatives. The Company looks forward to continuing to work with local and
regional First Nations in all its future exploration programs.
About the Gordon Lake Project
The Gordon Lake Project, about 80–90 km northeast of Yellowknife, NWT, covers 6,850
hectares and includes 18 territorial claims, 13 federal claims, and five historic mining
leases—all fully owned by Golden Pursuit. The site features multiple gold showings with
a history of exploration and mining dating back to 1937 and continuing into the late 1980s.
Located in the Slave Structural Province of the Canadian Shield’s Archean granite -
greenstone craton, the property hosts gold -bearing quartz veins and breccia z ones
primarily in Burwash Formation metaturbidite rocks of the Yellowknife Supergroup.
About Golden Pursuit Resources
Golden Pursuit Resources focuses on gold exploration and fully owns deposits and
prospects in the Northwest Territories, Canada, and Nevada, USA, with only royalty
obligations on some purchased claims in the NWT. The Gordon Lake project holds active
land and water permits until 2030, supporting exploration and development. The company
owns 11 properties with histories of mining and exploration dating back to the 1930s,
including five classified as “former producers” by the NWT government. It has conducted
extensive work at Gordon Lake since 2021. Further details are available at
www.goldenpursuitresources.ca.
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Qualified Person
The technical information in this news release has been reviewed and approved by Cleber
Peralta, COO and Director of the Company. Cleber Peralta is a Professional Geoscientist
(P.Geo.) registered with the Engineers and Geoscientists of British Columbia (EGBC) and
a “Qualified Person” with respect to NI 43 -101. The QP supervised the 2025 Golden
Pursuit’s exploration program and participated in the litho-structural mapping and sampling
campaigns reported here. The Issuer is not treating the historic estimates as current.
On behalf of the Board of Directors
Brian McClay- President
For further information, contact:
Brian McClay
CEO & President
Cleber Peralta
COO & Director, MSc Geology, P.Geo.
Tel. 604-730-6982
Forward Looking Information
This news release contains forward-looking statements that involve risks, uncertainties, and
assumptions that may cause actual results to differ materially. These statements, which
may include references to potential mineralization, exploration plans, and engagement with
First Nations, are subject to various risks, including exploration risks, regulatory changes,
market volatility, environmental factors, and other uncertainties. Readers are cautioned not
to place undue reliance on them. Except as required b y law, Golden Pursuit assumes no
obligation to update forward-looking statements, all of which are qualified by this cautionary
note.
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.