Lake Winn Obtains the Quartz Project IN Manitoba, with Historic GOLD Intercepts.
1100-1111 Melville Street
Vancouver, BC
V6E 3V6
LAKE WINN OBTAINS THE QUARTZ PROJECT IN MANITOBA, WITH HISTORIC
GOLD INTERCEPTS.
January 27, 2020 - Vancouver, British Columbia – Lake Winn Resources
Corp. (“Lake Winn” or the “Company”) (TSXV:LWR) (OTC:EQTXF) has obtained a
new 100% owned gold project in the Flin Flon gold belt, Manitoba. The project was
obtained in part by staking and in part by completing a purchase agreement described
below.
The Quartz project lies near the southern shores in Reed Lake between the Reed Lake
and Four Mile Island VMS deposits.
The Quartz project contains multiple drill hole intercepts containing gold. See Tables 1,
2, 3, and 4 below. In 1975, diamond drill hole Eel-258, intersected 1.28m @ 19.9 g/t
Au, whilst targeting a 1.45 km long EM conductor. The hole was drilled by Hudson Bay
Exploration and Development Co. Ltd. (“Hudson Bay”) who were exploring for copper-
zinc massive sulphide deposits at the time. Subsequently, Hudson Bay drilled 19
diamond drill holes into this gold bearing zone between 1975 and 1988. 14 of the 19
holes were drilled in 200m long sections of the conductor, leaving most of the 1.45 km
long conductor untested. Figure 1 depicts the location of the Hudson Bay drill holes and
the drill hole intercepts. In 2007 the area was further drill tested by Tribune Uranium
Corp., (“Tribune”). Their work is summarized in Table 2. They also encountered multiple
gold intercepts but again they concentrated the drilling in the 200m zone already shown
to contain gold by Hudson Bay. Highlights of the Tribune drilling include 5.8m @ 12.8g/t
Au, and 1.43m @ 12.0 g/t Au. The drill intercepts show that the conductor is
represented by a shear with sulphides and graphite hosted in felsic volcanics. The
Tribune drilling intersected multiple gold bearing shears and a cross section is provided
in figure 2 to demonstrate this.
Lake Winn’s main exploration objective is to drill test the entire 1.45 km length of the
conductor for extensions of the proven zone which is defined by the historic drilling open
to the east, to the west, and at depth. To expedite this the company has commissioned
a heliborne time domain EM survey (TDEM). This survey will be used to accurately
locate the conductive horizon, allowing 3D modeling of the conductor to aid drill
targeting. The plan is to begin drilling before the ice melts prior to April depending on
permitting and the weather. Permit applications have been submitted.
Table 1: Hudson Bay Gold Drill Hole Locations.
Drill Hole Easting Northing Bearing Dip Total Depth
RL-2007-1 398615 6052323 0 -60 151.52
RL-2007-2 398615 60523230 -60 154.57
RL-2007-3 398615 60523230 -70 90.55
RL-2007-4 398615 60522730 -70 276.52
RL-2007-5 398615 60522420 -70 291.77
RL-2007-6 398615 60522170 -70 364.94
RL-2007-7 398565 60522480 -70 273.48
Table 2: Hudson Bay Gold Intercepts
Drill Hole From (m) To (m) Intercept (m) Gold Au
g/t
RL-2007-1 55.18 56.71 1.52 1.27
RL-2007-2 58.15 60.6 1.91 2.3
64.94 67.3 2.36 1.8
Table 3: Tribune, 2007 Drill Collar Locations and Orientation
Drill Hole Easting Northing Bearing Dip Total Depth Comments
RL-2007-1 398615 6052323 0 -60 151.52
RL-2007-2 398615 60523230 -60 154.57
RL-2007-3 398615 60523230 -70 90.55 No core
recovered
RL-2007-4 398615 60522730 -70 276.52
RL-2007-5 398615 60522420 -70 291.77
RL-2007-6 398615 60522170 -70 364.94
RL-2007-7 398565 60522480 -70 273.48
RL-2007-8 398565 60522730 -70 230.79
RL-2007-9 398565 60523230 -70 113.72
RL-2007-10 398515 60522730 -70 206.4
RL-2007-11 398463 60522500 -70 214.94 No gold
intercepts
RL-2007-12 398663 60523130 -70 242.99
RL-2007-13 398663 60523130 -80 285.67
Table 4: Gold Intercepts >1 g/t Tribune Holes.
Drill Hole From (m) To (m) Intercept (m) Gold Au
g/t
RL-2007-1 55.18 56.71 1.52 1.27
RL-2007-2 58.15 60.6 1.91 2.3
64.94 67.3 2.36 1.8
81.4 82.32 0.91 3.73
85.06 85.67 0.61 8.87
88.11 91.16 3.05 8.1
150.61 151.52 0.91 4.07
RL-2007-4 104.9 105.5 0.61 2.67
195.4 201.2 5.8 12.8
212.3 213.4 1.07 3.2
RL-2007-5 264.6 266.6 1.98 1.53
RL-2007-6 42.84 43.29 0.46 1.17
108.8 111 2.13 1.35
136.3 136.6 0.3 1.41
276.5 276.9 0.43 2.57
RL-2007-7 261.2 264.5 3.27 3.38
RL-2007-8 223 224.68 1.68 1.80
RL-2007-9 56.71 57.62 0.91 23.7
103.4 104.3 0.91 3.33
RL-2007-10 58.54 59.76 1.22 1.33
145.4 147.9 2.45 1.96
164.4 166.2 1.79 4.10
RL-2007-12 134.6 135.2 0.62 4.13
RL-2007-13 215.9 218.6 2.74 2.95
100m 500m
EEL-352
0.9m @3.42g/t Au
EEL-352
1.37m @13.41g/t Au
EEL-351
1.0m @2.8g/t Au
EEL-258
1.28m @19.28g/t Au
EEL-295
3.35m @5.9g/t Au
EEL-317
3.04m @4.35 g/t Au
EEL-285
0.31m @7.77g/t Au
EEL-338
0.36m @6.84g/t Au
Figure 2 Tribune historic 2007 drilling, plan and cross section.
Transaction
Lake Winn will pay William Ferreira, $50,000 and 100,000 shares for the 100%
purchase of the Quartz Claims, named Quartz 1 and Quartz 2 totaling 254 hectares,
along with granting a 2% Gross overriding Royalty (“GOR”) of which 1% may be
purchased for $1 million. The transaction is subject to TSX approval. The company has
spent approximately $30,000 staking 100% owned ground around these core claims,
totaling approximately 5,000 hectares, to create an exploration buffer around the core.
The Royalty will apply to a portion of this ground in an area of interest.
Qualified Person
The Qualified Person for this news release is Buddy Doyle, AUSIMM, a Geologist with
over 30 years’ experience in mineral exploration, discovery, and evaluation. A Qualified
Person under the provisions of National Instrument 43-101. There has been no site visit
as the property is under a lake. Efforts have been made to locate the historic core which
will be viewed when located and Covid restriction allow.
About Lake Winn
Lake Winn Resources Corp., is a Vancouver based gold company, listed on the TSX
Venture Exchange (Symbol: LWR) focusing on exploration and development of gold
projects in Canada. The company’s flagship property, the Cloud Project is in the
province of Manitoba, in the Flin Flon Gold Belt approximately 40 kilometers north‐east
of the town of Flin‐Flon. Access to the property is provided by Manitoba highway 10 to
the all‐weather Kississing Lake Road. The company is currently diamond drilling on this
property. The company now has a second gold property in Manitoba, the Quartz project
in Reed Lake reported in this release.
On Behalf of the Board of Directors of Lake Winn Resources Corp.
Patrick Power, President & CEO
+1 (604) 218-8772
https://www.lakewinnresources.com
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.
Cautionary Statement Regarding “Forward-Looking” Information
Certain statements contained in this press release may constitute forward -looking statements. Such
forward-looking statements are based upon the Company’s reasonable expectations at the date hereof,
which are subject to change depending on economic, political and competitive circumstances and
contingencies. Readers are cautioned that such forward looking statements involve known and unknown
risks, uncertainties and other factors that may cause a change in such assumptions and the actual
outcomes and estimates to be materially different from those estimated or anticipated future results,
achievements or position expressed or implied by those forward -looking statements. Risks, uncertainties
and other factors that could cause the Company’s plans or prospects to change include changes or
disruptions in the securities markets; legislative, political or economic developments. The Company
disclaims any intention or obligation to update or revise any forward -looking statements whether as a
result of new information, future events or otherwise.
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