Copper Lake Resources Ltd. reported the balance of assay results from its recently completed winter exploration program, which consisted of diamond drilling and ground and bore-hole electromagnetic (EM) surveys on its copper-zinc-silver-gold volcanogenic massive sulphide (VMS) property, situated in northwestern Ontario. Additionally, final results for the large-loop electromagnetic (LLEM) survey and borehole electromagnetic (BHEM) surveys are reported. Holes MAR-23-01, MAR-23-02 and MAR-23-03 tested the southern extent of the Deep EM target and intersected narrow zones of base-metal mineralization within moderate to strong zones of biotite, chlorite and silicic alteration.

These holes are located proximal to MAR-22-01 drilled in the winter of 2022 yielding 8.13% Cu, 7.26% Zn, 240.80 g/t Ag & 0.33 g/t Au over 2.11 metres, 5.81% Cu, 7.32% Zn, 171.20 g/t Ag & 0.02 g/t Au over 1.95 metres as well as 2.37% Cu, 1.75% Zn, 413.15 g/t Ag & 0.37 g/t Au across 6.0 metres2. The massive sulphide interval intersected in MAR-23-01 yielding 13.00% Zn, 0.30% Cu, 390.00 g/t Ag & 0.40 g/t Au over 0.55 metres, occurs at the contact between felsic volcanic rocks and sediments. This is a very encouraging sign, as it is the first indication seen in drilling to date that exhibits a sedimentary or exhalative component, which is associated with volcanogenic massive sulphide mineralization.

The southern part of the Deep EM target area, in the locale of the conductive centre, appears to represent the heart of the VMS mineralizing system, in terms of strength and width of both hydrothermal alteration and sulphide mineralization. Two holes (MAR-23-04 & MAR-23-05) tested a residual gravity anomaly, closely associated with airborne EM conductors, a surface zinc geochemical anomaly and strong garnet-actinolite alteration at the Deeds Island target, 6 km to the east of the Deep EM target. The holes intersected a broad 75 metre-wide garnet-actinolite alteration zone, containing appreciable disseminated to semi-massive pyrrhotite and pyrite, within felsic fragmental rocks.

The presence of semi-massive pyrrhotite in the drill holes likely explains the EM and gravity anomalies. No significant assays were returned from either hole. A total of 49.5 kilometres of LLEM surveying were completed by Abitibi Geophysics during the winter exploration program.

Final interpretations reveal that the Deep EM target is very well defined and secondly, a large conductor is building to the southeast of the Deep EM target, in the eastern portion of the survey area. The build-up conductor is closely associated with high-temperature alteration associated with massive sulphide deposits (Fe & Mg enrichment & Na depletion), as outlined by geological mapping and geochemical sampling. The build-up conductor is situated stratigraphically above the Deep EM target in younger rocks, in a previously undrilled area of the property.

This suggests that the mineralizing system may transgress the Deep EM target and associated zinc-silver mineralization into overlying younger rocks, as potential sites for additional VMS mineralization. Clearly this merits drill testing. Access is being assessed as this area sits on higher ground and may not be restricted to winter access limitations.