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$GLI.ca Glacier Lake Acquires Silver Star Property $GTT.ca $JAX.ca

Posted by Er at 9:37 AM on Monday, December 4th, 2017

 

  • Signed a definitive agreement to acquire the Silver Star property, 72km S/E of Houston
  • Property represents a strategic acquisition in an emerging exploration area.

 

Glacier Lake Resources Inc. (TSXV:GLI) (“Glacier” or the “Company”) has signed a definitive agreement with an arm’s-length vendor to acquire the Silver Star property, located approximately 72 kilometers southeast of Houston B.C.

Historic exploration work in 2015 discovered a surface mineral showing where a grab sample of malachite and azurite stained siliceous andesite returned a value of 317 grams per tonne silver (g/t) Ag or 9.15 ounces silver per ton and 0.39% copper, with anomalous lead (0.80 % Pb) and zinc (0.08% Zn). The sample was not assayed for gold. Investors are cautioned grab samples are selective samples and are not necessarily representative of the mineralization hosted on the property. Investors should also note Glacier Lake has not verified the data. There is no record of prior or subsequent historic exploration on the Silver Star property.

“The Silver Star property represents a further strategic acquisition in an emerging exploration area of central British Columbia, energized by the exploration success of New Nadina on the Silver Queen property. Acquiring a project with significant silver values in prospective geology in an attractive structural setting with only limited exploration history serves as a focal point for further discoveries” stated Saf Dhillon, Glacier Lake’s president and chief executive officer. “With excellent road access, exploration activities can continue on the property year-round.”

The Silver Star property is underlain by Cretaceous Kasalka group andesitic volcanics and Middle Jurassic Bowser Lake group clastic sediments. A Geological Survey of Canada (GSC) 1992 structural study shows the Silver Star property is located within bounding NW-SE regional fault structures that extend south from the Equity Silver Mine, where historic production of 33.8 million tonnes grading 0.4 per cent copper, 64.9 grams per tonne silver and 0.46 gram per tonne gold was recorded between 1990 and 1994. Glacier Lake has not verified the historic Equity Silver Mine production and further cautions investors the mineralization at Equity Silver is not necessarily indicative of mineralization at Silver Star.

The 1992 GSC structural study indicates the Silver Star property straddles the junction of the western portion of the Cheslatta Caldera Complex, the northern portion of the Quanchus Caldera, and the south-eastern extension of the Buck Creek Caldera (host of the Equity Silver Mine). Glacier Lake feels the interpretation of multiple caldera features with associated silver values at the Silver Star property has similarities with the caldera hosted New Nadina Explorations Silver Queen vein system located 42 kilometres to the northwest.

The newly discovered mineral showing consists of mini-quartz stockworks, brecciation and quartz/ chalcedony alteration. Prospecting in 2015 focused on a highly siliceous gossanous andesite outcrop with azurite/malachite oxidation and possible tetrahedrite. Other samples in the general area reported moderate Fe stained chalcedonic veining with a smoky matrix. A second grab sample in the discovery outcrop area returned 42.7 g/t Ag, 310 parts per million (ppm) Cu. 563 ppm Pb, and 585 ppm Zn.

In consideration for the property, Glacier Lake will issue one million common shares. Completion of the acquisition is subject to the approval of the TSX Venture Exchange. All common shares issued will be subject to a four-month-and-one-day statutory hold period.

The technical content of this news release has been reviewed and approved by R. Tim Henneberry, P.Geo., a member of the Glacier Lake Advisory Board and a qualified person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

FOR ADDITIONAL INFORMATION PLEASE CONTACT:

Saf Dhillon
President & CEO
Glacier Lake Resources Inc.
Tel: 866-687-7059
Dir: 604-688-2922
saf@glacierlake.ca

Please visit our Website at: www.glacierlake.ca

Glacier Lake $GLI.ca Announces New Discovery at Silver Vista Hinting at Pollymetallic System $JAX.ca $AMI.ca $GTT.ca

Posted by Er at 7:43 AM on Thursday, November 2nd, 2017

  • New Discovery is called the “Golden Vista Zone”
  • Golden Vista Zone is 22 km northwest of the principal target, the “MR” copper-silver prospect
  • 2cm massive pyrite-galena stringer within siliceous, altered mineralized sediments
  • 16.90 grams per tonne gold (g/t Au), 196.0 g/t (Ag) silver, 12.6 percent (%) lead (Pb), 11.9 percent zinc (Zn)

Glacier Lake Resources Inc. (TSXV:GLI) (“Glacier” or the “Company”) is pleased to report multiple new mineral showings in an area designated as the “Golden Vista Zone”, located on the Silver Vista property, near Smithers, B.C. The highlight is an outcrop select grab sample including a 2 centimetre massive pyrite-galena stringer within siliceous, altered mineralized sediments, returning 16.90 grams per tonne gold (g/t Au), 196.0 g/t (Ag) silver, 12.6 percent (%) lead (Pb), 11.9 percent zinc (Zn).  Investors are cautioned that these samples are selective samples and are not necessarily representative of the mineralization hosted on the property.

The Golden Vista Zone area is approximately 22 kilometers northwest of the principal target, the “MR” copper-silver prospect. Highlights of the recent Golden Vista discoveries include:

  • The mineral showings are in a minimally explored area of the property, with no previously known mineral showings or historic prospects. The new showings resulted from a limited prospecting-geological mapping program, involving a 3-4-person crew, serviced by helicopter from Smithers. In total 28 grab rock samples were taken from outcrop or subcrop locations while prospecting, and 53 soils samples were taken.
  • Target GV-2 is located in a steeply incised stream drainage and comprises three outcrop grab samples, hosting semi-massive sulphides (pyrite-galena) in altered, siliceous, gossanous sediments. Sample #02681 returned 5.37 g/t Au, 110.0 g/t Ag, 5.05 % Pb, and 11.60 % Zn from a pyrite-galena gossan. Sample #02681 assayed 16.90 g/t Au, 196.0 g/t Ag, 12.60% Pb and 11.90% Zn from a 2 cm massive sulfide vein. Sample #16079 is comprised of coarse grained galena in a highly silicified sedimentary unit, which returned 4.47 g/t Au, 34.00 g/t Ag, 1.72% Pb, and 5.02% Zn. The GV-2 zone is a high priority target for follow-up.
  • Target GV-1 was investigated to confirm gold-and-silver soil anomalies from wide spaced (+/- 300 meter spacing) reconnaissance soil sampling completed in 2012-2013, in an area of rugged topography. Soil sample #2668 from this location returned 0.34 g/t Au, 15.45 g/t Ag, 0.29% Pb, and 0.26% Zn. Soil sample #2669, nearby returned 1.68 g/t Au, 28.90 g/t Ag, 0.44% Pb, and 0.36% Zn. Outcrop rock samples from the same location of altered, gossanous sediments returned anomalous gold values of 0.141 g/t Au and 0.118 g/t Au, suggestive that the source of the soil geochemical anomalies may be further up-slope.
  • The GV-1 target alteration zone was projected to the south-east and an outcrop location approximately 350 meters along strike was discovered comprising siliceous, moderately gossanous sediments. Three chip samples were taken at this location, with anomalous gold (0.04, 0.18 and 0.26 g/t Au), and silver, (4.6, 7.1, and 16.3 g/t Ag), and strongly anomalous lead (0.65, 0.12, and 1.11% Pb). These anomalous values and associated metals (arsenic, antimony and mercury) are supportive of structural continuity of the GV-1 alteration/mineralized zones.
  • Target GV-4 was tested by three soil samples with anomalous gold values. Soil sample #16082 returned the highest gold-in-soil value of the fall survey, with 2.75 g/t Au, 3.4 g/t Ag, and 781 ppm (parts per million) Pb.
  • Three other targets are defined by anomalous soil and/or rock geochemistry in the Golden Vista area.  Outcrop exposure is modest and soil sampling remains an effective tool to define buried targets. The Golden Visa discoveries are in an area 1,400 meters by 1,000 meters. Several anomalous gold-in-soil anomalies were not visited during the recent program.
  • A preliminary analysis of the soil and rock geochemistry suggest that the Golden Vista mineralization is representative of an enhanced gold- silver-lead-zinc system. Silver values in the soils are enriched and widespread, with more than 37% of the soil samples returning +1.0 g/t Ag in the soils. The 90% percentile of the 53 soil samples is 0.11 g/t Au, 3.2 g/t Ag and 880 ppm lead (Pb).

Saf Dhillon, President/CEO and Director of Glacier Lake Resources Inc. reports that, “The results of our recent reconnaissance program have exceeded our expectations, with the discovery of multiple showings returning significant precious and base metals. These new showings indicate an exciting new style of mineralization on the Silver Vista property. While our short-term focus will be on a Phase 1 drill program to test the zone of high-grade copper and silver mineralization at the “MR” area, the Golden Vista zones will be an important exploration target for next summer’s field season.”

All samples from the Golden Vista surface program were sent to the ALS Minerals Ltd. North Vancouver, BC laboratory, an 17025:2005 certified facility. All samples were collected by Exploration Facilitation Unlimited Inc. personnel and securely stored until delivery to ALS Minerals. At this early stage of exploration, Glacier Lake is relying on the certified standards utilized by ALS Minerals as part of it analysis protocols. No QA/QC anomalies were noted in the analyses.

The technical content of this news release has been reviewed and approved by R. Tim Henneberry, P.Geo., a member of the Glacier Lake Advisory Board and a qualified person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

Contact information:

Satvir Dhillon, President & CEO
Glacier Lake Resources Inc.
Ph: 604-688-2922
Email: saf@glacierlake.ca

Glacier Lake Receives Work Permit Approval for up to 10,000 Meters of Drilling on the Silver Vista Project

Posted by Er at 10:01 AM on Tuesday, September 12th, 2017

https://s3.amazonaws.com/s3.agoracom.com/public/companies/logos/564613/hub/GlacierLake.png

  • Drill Permits cover 10,000m of drilling
  • Allows for up to 40 drill sites
  • Drilling targeting Silver & Copper mineralization

VANCOUVER, British Columbia, Sept. 12, 2017 (GLOBE NEWSWIRE) — Glacier Lake Resources Inc. (TSX-V:GLI) (“Glacier” or the “Company”) is pleased to announce that it has been granted permit approval by the British Columbia Ministry of Energy and Mines for drilling and trenching activities on the company’s flagship Silver Vista copper-silver project, located near Smithers, British Columbia. The Mines Act Permit (MX-1-987) allows for up to 40 drill sites, 10,000 meters of drilling and 10 trench/pit sites, over a 5 (five) year period. The objective of the drilling program is to verify and expand the copper-silver mineralization intersected in the 1991 and 1992 historical drilling programs. Equity Silver Mines Limited completed fourteen drill holes (1992) totaling 1,252.5 metres. Equity identified a semi-continuous zone 300 metres long by 50 metres wide by 3 to 150 metres deep with two of the holes ending in mineralization. Key intercepts include: MR91-01 – 32.87 metres at 0.19% Cu and 34.8 gpt Ag, MR91-03 – 61.91 metres at 0.11% Cu and 40.5 gpt Ag, MR91-04 – 25.9 metres at 0.08% Cu and 62.6 gpt Ag and MR92-02 – 36.58 metres at 0.49% Cu and 26.8 gpt Ag. Hole MR92-02 intersected a higher-grade intersection of 2.84 meters averaged 195.7 g/t Ag and 3.65 % Cu at a depth of 192.62 meters, and this represents the only deep hole to test this zone, and is a primary drill target for follow-up.

 

Glacier Lake Resources Inc. has yet to verify the Equity exploration date. Data verification is one of the primary objectives of this drilling program.

 

“We look forward to commencing the first drill program on the Silver Vista since 1992″ said Saf Dhillon, President and Chief Executive Officer. “The focus of this fall’s campaign will be to confirm and expand the higher-grade mineralization intersected in hole 92-02 and to test the potential of the large silver-in-soil geochemical anomaly, measuring 1.5 by 2.0 kilometers.”

 

Further details can be found in the recently completed 43-101 report on the property located under the Company’s SEDAR profile.

 

The technical content of this news release has been reviewed and approved by R. Tim Henneberry, P.Geo., a member of the Glacier Lake Advisory Board and a qualified person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

 

Please visit our Website at: www.glacierlake.ca

 

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

 

This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking.  Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements.  Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, and general economic, market or business conditions.  There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties.  We do not assume any obligation to update any forward-looking statements except as required under the applicable laws.

 

FOR ADDITIONAL INFORMATION PLEASE CONTACT:

 

Saf Dhillon
President/CEO
Glacier Lake Resources Inc.
Tel: 866-687-7059
Dir: 604-688-2922
saf@glacierlake.ca