Lakewood Exploration Reports High Grade Surface Samples Including 11.79 g/t Gold and 255 g/t Silver to Further Extend the Mineralized Trend at the Past-Producing Silver Strand Mine in Idaho
NEWS RELEASE
Lakewood Exploration Reports High Grade Surface Samples Including 11.79
g/t Gold and 255 g/t Silver to Further Extend the Mineralized Trend at the
Past-Producing Silver Strand Mine in Idaho
Vancouver, British Columbia / August 4 , 2021 – Lakewood Exploration (CSE: LWD / OTC:
LWDEF) (“Lakewood” or the “Company”) is pleased to provide an update to ongoing surface sampling
and exploration activities at the Company’s recently acquired past-producing Silver Strand Mine located in
the Coeur d’Alene Mining District of Idaho. Highlights from the sampling program include:
● 11.79 grams per tonne (g/t) gold one kilometre (km) beyond the previously sampled area
● 255 g/t silver along 5.5 km mineralized trend
● Strong indications of multiple sub-parallel veins
The Company recently completed additional claim staking along the Osburn Fault-Burnt Cabin Fault Zone
expanding the property from 60 claims to a total of 70 claims. Consulting geologists, Childs Geoscienc e
are currently mapping and reconnaissance sampling the northwestern part of the Silver Strand property.
Forty-one samples were collected along road cuts and logging trails revealing stratigraphic contacts, faults,
widespread alteration and in places mineralized quartz veins and silicified Revett quartzite. Regionally, this
thick sequence of quartzites and siltites strike northwest and dip to the northeast. Gold values ranged from
less than detectable to a high of 11.79 g/t gold (Au), averaging 1.33 g/t Au . Silver values from the recent
sampling ranged from a low of 1.71 g/t silver (Ag) to a high of 34.29 g/t Ag, averaging 5.48 g/t Ag. One
of the better rock chip samples, PN614064, collected near the Burnt Cabin Mine reported 7.23 g/t Au and
7.54 g/t Ag. Another highly anomalous zone, central to the property position, sampled a one metre wide
quartz-limonite vein, reporting 5.04 g/t Au and 6.17 g/t Ag.
*These are select samples, V993688- V993691 samples were previously reported June 28th.
The on-going surface work is being conducted from the Silver Strand mine through to the Burnt Cabin
Mine and up to 1 km beyond. This exploration work is examining areas that have not previously been
explored due to the previously fractured ownership of th e land package. Work is also continuing around
the Silver Strand mine in support of drilling which is planned for the end of summer.
President Morgan Lekstrom stated: “We are very excited with these results which confirm widespread
alteration and gold-silver mineralization throughout the property and along the 5.5 km strike. The recent
work has also identified multiple sub-parallel veins to the past producing Silver Strand Mine. With drilling
of Silver Strand expected to commence toward the end of summer, t hese results will help inform future
exploration plans and step-outs from the historic mine.” We have also scheduled an airborne geophysical
(magnetics) survey of the Silver Strand property using modern drone technology to provide more detail
than previously available.
Qualified Person
Technical aspects of this press release have been reviewed and approved under the supervision of Philip
Mulholland, P.Geo. Mr. Mulholland is a Qualified Person (QP) under National Instrument 43 -101
Standards of Disclosure for Mineral Projects.
About Lakewood Exploration
Lakewood Exploration is a junior resource company that controls the Lacy Gold Project in British
Columbia, Canada, and the past -producing Silver Strand Mine in the Coeur d’Alene Mining District in
Idaho, USA. The Company is rapidly advancing towards an ini tial drill program at Silver Strand with the
aim of defining a large silver resource within a belt that has produced more than 1.2 billion ounces of silver
to-date. Geologic studies indicate that the Silver Strand Mine is hosted by the Revett formation, suggesting
the potential for significant down dip extensions as demonstrated by other major mines in the district.
Previous operators were solely interested in developing the known shallow mineralization, with the mine’s
lowest level extending only 90 metres below surface. Lakewood strives to become a multi -mine silver
producer.
*Mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on the Com pany’s
property.
On Behalf of the Board of Lakewood Exploration Inc.
Morgan Lekstrom
President
Corporate Office: 551 Howe Street, Vancouver, British Columbia V6C 2C2, Canada
Contact Kristina Pillon, President, High Tide Consulting Corp., 604.908.1695 /
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