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$ Glacier Lake Drills 153m of 28.9 g/t AgEq at Silver Vista $ $

Posted by AGORACOM-Eric at 8:33 AM on Wednesday, May 23rd, 2018

  • Completed Seven holes totaling 1,273 metres on the “MR” target
  • Significant silver-copper hosted in fine-grained, clastic sediments was intersected in all 7 holes
  • Hole SV-18-06 returned multiple horizons of mineralization over the entire length of the hole 153.4 metre length averaging 28.9 grams per tonne (g/t) silver equivalent

Glacier Lake Resources Inc. has released results from its maiden diamond drill program on its Silver Vista property located near Smithers, B.C.

Significant silver-copper mineralization hosted in fine-grained, clastic sediments was intersected in all seven holes. Hole SV-18-06 returned multiple horizons of mineralization over the entire length of the hole, with the 153.4 metre length averaging 28.9 grams per tonne (g/t) silver equivalent (Ag Eqv *1), comprised of 16.1 g/t Ag, 0.05 percent copper (% Cu), and 0.10 % zinc (Zn). Hole SV-18-06 was the northernmost hole and the mineralized zone is open and undrilled to the west, north and northwest.

“Results from our maiden drill program on the Silver Vista ‘MR’ target support a large mineralizing system, with excellent potential to expand the silver-copper zones to the northwest and west,” says Saf Dhillon, President and Chief Executive Officer. Surface work will resume in June to refine the multiple soil geochemistry targets prior to a Phase 2 drill program. The company is fully permitted for 10,000 metres of drilling at upward of 40 sites.

The drill results were interpreted and assessed based on copper equivalent grades (Cu Eqv) of +/= 0.50 % Cu Eqv., and +/= 0.20% Cu Eqv.

The following are the intercepts base on +/= 0.50 % Cu Eqv.:

*1 {A –} Copper and silver equivalents are calculated based on the values of copper, silver and zinc, and metal prices of $16.50/ounce for silver, $3.05/lb for copper and $1.35/lb for zinc.

Seven holes, totaling 1,273 metres were completed on the “MR” target, representing the first drilling on the Silver Vista property since the initial 1991-1992 Equity Silver Mines Ltd. (a division of Placer Dome Inc., now Barrick Gold Corp.) program of 1,252.5 metres in 14 holes. Preliminary interpretations include:

A large, mineralizing system is indicated, with multiple, stacked zones of silver, copper and zinc mineralization occurring from outcrops to depths over 200 metres. Hole SV18-06 was mineralized from the overburden collar (4.6 m) to a depth of 157. 9 meters. Holes SV18-04 was mineralized from the collar to 49.0 meters, and hole SV18-07 was mineralized from the collar to 43.0 meters (see table below).

Near surface stacked zones are indicated by the recent drill program. Outcrop exposure is very limited due to subtle topography, however extensive soil geochemistry has uncovered numerous other silver and copper anomalies interpreted to have potential for further discovery of similar mineralization to the “MR target.”

The silver, copper and zinc mineralization is finely disseminated in multiple sedimentary horizons, but not obvious to the naked eye. A portable XRF (X-ray fluorescence) unit was successful in the preliminary identification of mineralized zones and helped guide the progress of the drill program. The mineralization appears to be broadly stratabound in preferred sandstone horizons with the sediments displaying a moderate north to northwest dip. Plant debris and organic matter are encouraging indicators, but alteration and veining are visibly minor and appear to be unrelated to elevated metal values.

Based on the recently completed drill program the sediments appear to be dipping moderately to the north. Holes SV18-01 and SV18-02 are therefore drilled with the dip and appear to have shallow intersection angles, in the order of 20 degrees to 30 degrees. The remaining five holes were drilled across the dip and therefore appear to have steeper intersections angles in the order of 60 to 70 degrees. Further drilling, with multiple holes on the same section or “fence”, is required to confirm the dip of the stacked mineralized bodies and the enclosing sediments.

Further details can be found in the National Instrument 43-101 report on the property located under the company’s SEDAR profile.

Quality assurance/quality control

The entire length of core for each of the seven drill holes was sawn and sampled at continuous 1.0-metre intervals, with occasional shorter or longer intervals based on apparent wallrock and mineralization contact. Supervision, organization and sawing of drilling core samples was undertaken by personnel from geological consultant Mammoth Geological Ltd. Half of the core was bagged, sealed and securely stored until shipment to the laboratory. The other half was retained in a secure storage location. Certified reference standards and blanks were placed in the sample stream of each drill hole alternating at every 25th interval. The secured and sealed samples were packed into rice bags, sealed and securely stored until they were turned over to the local trucking company for transport to the ALS Minerals Laboratory in North Vancouver, B.C.

All core samples were analyzed utilizing ALS’s MEICP-61 procedure, a four-acid digestion of a one-gram sample with an ICP finish. Samples with overlimit copper or silver values received an ME-OG62 analysis, a four-acid digestion of a 0.5-gram sample with ICP-AES finish.

In addition to Glacier Lake’s third-party standards, a routine quality assurance/quality control (QA/QC) procedure monitored the analytical quality at the lab. Certified reference materials (CRMs), pulp duplicates and blanks were inserted into each lab batch of samples. The Glacier Lake and ALS Lab QA/QC data showed no irregularities.

The technical content of this news release has been reviewed and approved by R.Tim Henneberry, PGeo, 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.


$ Glacier Lake to Acquire Property in B.C.’s Prolific Golden Triangle $ $

Posted by AGORACOM-Eric at 9:07 AM on Wednesday, April 18th, 2018


  • Acquired the “Hackett” and “North Wolverine” properties in the Sheslay area of northwestern British Columbia
  • Properties are located approximately 38 kilometers northwest of the village of Telegraph Creek
  • The Sheslay area is considered one of the most promising grassroots mineral exploration areas in Canada

Glacier Lake Resources Inc. (TSXV:GLI) (“Glacier” or the “Company”) is pleased to announce that it has entered into an agreement to acquire the “Hackett” and the “North Wolverine” properties in the Sheslay area of northwestern British Columbia.  The properties are located approximately 38 kilometers northwest of the village of Telegraph Creek, and approximately 95 kilometers west-southwest of Dease Lake. Association for Mineral Exploration British Columbia (AMEBC) notes that; “The Sheslay area, located in northwestern British Columbia, is one of the most promising grassroots mineral exploration areas in Canada, and this highly prospective area has been explored for many years by a number of companies.”


The Hackett property adjoins the eastern border of the Hat property, owned by Doubleview Capital Corp. (“Doubleview”). The Hackett property is interpreted to be underlain by volcanic-sedimentary assemblages and intrusive rocks of the Stuhini Group. Exploration continues at Doubleview’s Hat property with the discovery of the Lisle Zone in 2014. Doubleview’s website reports; “The known Lisle zone (currently 500m x 1000m) occurs near the southeastern edge of the Hat complex and suggests a potential to host several similar size mineralized porphyry bodies in Anomaly E, A, C, D and the least explored “Hoey zone”, all of which remain to be investigated.” Glacier Lake cautions readers the presence of copper mineralization on the Hat Property is not necessarily indicative of similar mineralization on the Hackett Property.


The western border of the Hackett property is less than a kilometre away from Doubleview’s Lisle Zone, and the “Hoey Zone” is located near Big Creek on the boundary with the Hat property. A limited exploration program conducted in 2014 (assessment file #34955) returned strongly anomalous gold and copper values in rock grab samples, from oxidized mineralized showings from the western flank of the Hackett property. Two east-west trending mineralized occurrences were discovered in an area of limited exposure. The initial discovery mineral showing (sample numbers 16846 and 16847) returned 24 and 594 parts per billion (“ppb”) gold, and 598 and 2970 parts per million (“ppm”) copper, respectively.  Approximately 150 meters upstream on Big Creek from the discovery showing, another strongly oxidized showing returned 128 ppb gold and 935 ppm copper. The Company considers these initial sample values very significant, representing the first anomalous gold and copper values returned from the Hackett property and further feel they may represent the extension of porphyry style mineralization indicated in surface sampling and diamond drill holes on the contiguous Doubleview Hat property. Glacier Lake cautions investors it has yet to verify the Hackett property exploration data.


The North Wolverine property is located approximately 6 kilometers southwest of the southern boundary of the Hackett property and is completely surrounded by Garibaldi Resources Ltd.’s large Grizzly property. The Wolverine showing (Minfile 104J 059) is located on the southern boundary of the North Wolverine property, lying along the Golden Bear Mine Road. Excerpts from the Minfile report include:


“Mineralization consists of pods or perhaps disrupted veins of massive pyrite and chalcopyrite which occur in fault gouge cutting a microcrystalline, marginal phase of the diorite. The largest segment of vein consists of massive pyrite and chalcopyrite and is approximately 8 metres long. It yielded from less than 34 to up to 154 grams per tonne gold over a 0.4 metre width. Several smaller segments of massive pyrite yielded grades up to 16 grams per tonne gold, however, others are only weakly anomalous or barren (Assessment Report 20945, page 17). The segments of veins have been found only within the trenched areas of the main showing.”


Amarc Resources Ltd. 2004 exploration activities outlined multiple gold and copper soil anomalies north of the Wolverine Showing which are now within the North Wolverine property. Glacier Lake cautions investors it has yet to verify the North Wolverine property exploration data.


“We are very pleased to increase our growing property portfolio with the addition of these exciting assets in B.C.’s prolific Golden Triangle region,” says Saf Dhillon, President/CEO. “We plan to further evaluate other projects within Canada and abroad as we await our assays from our Phase I drilling at Silver Vista, B.C. The assays are being held in the ALS Labs until all samples have been collected, tested and then they will be released in their entirety. The Company is planning a summer exploration program on the Hackett and North Wolverine properties consisting of property reconnaissance, prospecting and sampling. The objective of the first-pass program is to verify the documented mineral showings, follow-up the soil anomalies and prospect favourable areas.”


In consideration for the claim blocks, Glacier Lake will complete a cash payment of $20,000 and issue three 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