Lakewood Exploration Samples up to 1,669 g/t Silver and 9.77 g/t Gold from Old Stopes at the Past-Producing Silver Strand MIne in Idaho, USA
NEWS RELEASE
Lakewood Exploration Samples up to 1,669 g/t Silver and 9.77 g/t Gold from Old Stopes at
the Past-Producing Silver Strand Mine in Idaho, USA
Vancouver, British Columbia / June 28, 2021 – Lakewood Exploration (CSE: LWD /
OTC: LWDEF) (“Lakewood” or the “Company”) is pleased to announce the results of recent
rock chip sampling from a surface and underground sampling program at the Company’s recently
acquired, past -producing Silver Strand Mine ( “Silver Strand” ) located in the Coeur d’Alene
Mining District of Idaho, USA (see June 16, 2021 press release).
A total of thirteen rock chip samples w ere collected from altered and mineralized exposures
throughout Silver Strand’s historical mine workings. Highlights from this first phase of sampling
are summarized below:
➢ 1,669 g/t Ag and 9.77 g/t Au from grab sample collected from the shrink stope above the
No. 3 level
➢ 255 g/t Ag and 1.27 g/t Au values obtained from sampling near the No. 1 portal
➢ Surface rock chip sample 50 metres to the SE from the No. 3 portal returned 5.14 g/t Ag
Table 1. The 13 samples shown above were collected as part of an init ial inspection and the workings, which were found to be in
good condition will now be sampled and mapped in greater detail.
Morgan Lekstrom, President, stated: “These initial rock chip and grab samples demonstrate that
the Silver Strand system is well mineralized in and around the mine area and we are highly
encouraged to find the vein outcropping some 50 metres to the southeast where there is no known
historical drilling. We remain active at site with further rock chip and soil sampling underway,
while concurrently working on a new 3D model that will support and refine our drill targeting
efforts at the historic mine area.”
The Silver Strand Mine is hosted in the Revett formation, a belt of rocks known to host high-
grade silver-zinc-lead deposits to more than 1800 metres, including the Sunshine Mine, which
produced 359 million ounces of silver1; the Galena Mine, which produced 144 million ounces of
silver1; and the Lucky Friday Mine, which has produced 105 million ounces of silver1 to date and
is still in production. While mineralization hosted on adjacent and nearby properties is not
necessarily indicative of mineralization hosted on the Company’s property, the Silver Strand
mine was previously mined to a depth of just 90 metres suggesting potential for mineralization at
greater depths.
Six samples were collected near the No.1 portal V993688-91, and V993693, 94 and consisted of
silicified Revett quartzite, commonly brecciated with abundant quartz stockwork veinlets,
showing moderate to strong limonite stain and included sample highlights of up to 255.43 grams
per tonne (g/t) silver and 1.27 g/t gold, respectively. Evidence of fine-grained disseminated
sulfides were identified as limonite-stained sulfide casts in quartz veinlets.
Five rock chip samples and one grab sample were collected from underground exposures of the
No. 3 level stope (V993696-700). These samples consisted of fractured and brecciated quartz-
limonite replacement veins hosted in Revett quartzite. One grab sample was collected
(V993700) from the shrink stope level above the No. 3 level which returned 1,669 g/t silver (48
ounce per ton). The sample consisted of black sulfide rich quartz veining showing brecciation
and quartz stockwork. Sulfides were too small to identify, but are suspected to contain strong
values in silver, gold, lead, zinc and copper.
One rock chip sample (V993695) was collected near the No. 3 portal approximately 50 metres to
the southeast of the portal in order to confirm the extension of the Silver Strand vein system in a
southerly direction. That sample consisted of a narrow quartz-limonite vein, with vuggy quartz
and sulfide casts plus clay, reporting 5.14 g/t silver, confirming the vein zone continues and is
open to the south.
QA/QC
The samples were analyzed by Chris Christopherson of CCI laboratory, in Smelterville, Idaho.
Samples were analyzed by fire assay methods with a gravimetric finish for gold and silver.
Qualified Persons
1 Silver Production values sourced for Hecla Mining April 2014 SEDAR filing showing Historical Production from
Mines in Coeur d’Alene District, Page 50 (Table 6.2)
Technical aspects of this press release have been reviewed and approved by Philip Mulholland P.Geo, the
designated Qualified Persons (QP) under National Instrument 43-101.
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 currently focused on advancing towards an initial drill program at the Silver
Strand Mine, which comprises 70 claims with over 5.5 kilometre strike length within a silver belt that has
produced more than 1.2 billion ounces of silver. Geologic studies indicate that the Silver Strand Mine is
hosted by the Revett formation and related to a regional structure, 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
meters below surface.
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 /
The CSE has neither approved nor disapproved the contents of this news release. Neither the
CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE)
accepts responsibility for the adequacy or accuracy of this release.