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CPL Chapelthorpe

25.00
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14 Jun 2024 - Closed
Delayed by 15 minutes
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Chapelthorpe LSE:CPL London Ordinary Share GB00B23VYS91 ORD 50P
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  0.00 0.00% 25.00 0.00 01:00:00
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- O 0 25.00 GBX

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Posted at 30/5/2024 01:52 by stu31
Copper Lake Resources Reports Results of Drilling at Marshall Lake Copper-Zinc-Silver VMS Property
29/05/2024 12:45pm

Copper Lake Resources Ltd. (TSX-V: CPL, Frankfurt: WOI, OTC: WTCZF) (“Copper Lake” or the “Company”;) is pleased to report the results generated from the winter diamond drilling program, recently completed on its Marshall Lake copper-zinc-silver VMS property (the “Property̶1;), located in Northwestern Ontario.
Two new target areas were the focus of diamond drilling, including a prominent MT (magneto-telluric) conductor, situated proximal and below high-grade copper-zinc-silver mineralization, known as the Conductive Centre. The second new drill target comprised an EM conductor situated 2 km to the east of the Billiton deposit (see Copper Lake news release dated April 10, 2024).

Terry MacDonald, CEO of Copper Lake commented “Drilling to date has defined a conductive centre of potentially economic size associated with multiple high-grade copper-zinc-silver intersections at reasonable depths. Establishing continuity within this target area requires further drilling. While we did not encounter massive sulphides in MAR-24-02, the strong to very strong alteration is associated with proximity to massive sulphide deposits. The drilling results have provided us with additional information to zero in on what we believe is an ore-grade VMS deposit.”

DIAMOND DRILLING RESULTS

MT Conductor 1 comprised the highest priority target for drilling, given its close association with bore-hole electromagnetic (BHEM) conductors and associated high-grade mineralization, situated 250 metres to the SE of the Billiton deposit (collectively known as the Conductive Centre). MT Conductor 1 consists of a moderate to strong conductor, persistent over a vertical range of approximately 700 metres, extending from a depth of 300 to 1000 metres below surface, respectively.

Hole MAR-24-02 was drilled through the centre of MT Conductor 1 to a final depth of 802 metres. Several zones (up to 100 metres) of moderate to strong biotite, chlorite, sericite and silicic alteration were intersected over broad intervals, starting from 160 metres down-hole to 790 metres down-hole. Despite the presence of moderate to strong hydrothermal alteration typical of that associated with volcanogenic massive sulphide deposits being encountered in the drill hole, only weak to moderate ubiquitous disseminated sulphides (1% to 5%) including pyrite and lesser sphalerite, galena and chalcopyrite were encountered. Locally, narrow intervals over 1 to 2 metres contain heavier sulphide mineralization in intermediate to felsic volcanic rocks, characterized by strong to very strong alteration. The best mineralized intervals returned the following assays:

0.27% Cu, 1.36% Zn, 39.20 g/t Ag & 0.11 g/t Au over 2.30 metres
1.46% Cu, 2.07% Zn, 26.40 g/t Ag & 0.24 g/t Au over 0.80 metres
0.13% Cu, 1.61% Zn, 12.70 g/t Ag & 0.02 g/t Au over 2.10 metres
Currently, we believe that the broad intercepts of alteration containing pervasive disseminated sulphides intersected in MAR-24-02 explains the presence of the MT conductor.

The presence of long intercepts of moderate to strong, to locally very strong hydrothermal alteration containing anomalous levels of base-metal mineralization is encouraging and will require additional drilling, in the continuing search for massive sulphide mineralization within the large alteration-mineralizing system, characteristic of the MT Conductor 1 – Conductive Centre locale.

The second new target was an interesting electromagnetic conductor, known as the Build-Up Conductor, which was defined in a recent large-loop electromagnetic survey (LLEM) completed by Abitibi Geophysics. The conductor is situated in younger rocks (relative to the Billiton deposit and Conductive Centre), in an area of the Marshall Lake property that had not previously been drilled. The conductor was modelled, had dimensions of 500 metres by 150 metres and had moderate strength conductance.

A single drill hole MAR-24-01, was completed to evaluate the conductor and was drilled to a final depth of 502 metres. The hole intersected a thick sequence of altered volcanic rocks intruded by gabbro sills. Alteration in the volcanic and intrusive lithotypes comprises weak to moderate chloritization, silicification and potassic alteration in high-grade metamorphic rocks.

Two mineralized zones were encountered: the first from 240.0-260.0 metres and the second from 330.0-360.0 metres down-hole, respectively. Both contained patchy pyrrhotite, pyrite and magnetite, locally up to 10% in abundance. The presence of the magnetite as well as pyrrhotite and pyrite are believed to explain the presence of the conductor.

No significant base-metal or precious-metal assays were obtained from such mineralization.

1Analyses completed by AGAT Laboratories in Thunder Bay, ON, utilizing the 1A2 – Fire Assay, AA Finish, 1H INAA (INAAGEO), Total Digestion (Total) and the UT-7, Sodium Peroxide Fusion (ICP & ICP MS) analytical packages

BOREHOLE ELECTROMAGNETIC (BHEM) SURVEY RESULTS

Abitibi Geophysics was successful in probing the entire length of MAR-24-02 with a BHEM survey, to a depth of 802 metres.

The survey was successful in delineating a moderate strength off-hole conductor at a vertical depth of 350 metres. The conductor (New BHEM Conductor, see Figures 1 & 2) is NE-SW trending and as modelled as a sheet, has sizeable dimensions of 140 metres by 290 metres, in terms of length and depth extent. The New BHEM Conductor expands on the size of a cluster of previously defined conductors, known as the Conductive Centre.

The Conductive Centre is closely associated with several high-grade intercepts including 8.13% Cu, 7.26% Zn, 240.80 g/t Ag & 0.33 g/t Au over 2.11 metres as well as 2.37% Cu, 1.75% Zn, 413.15 g/t Ag & 0.37 g/t Au over 6.00 metres.

When examining the New BHEM Conductor and the Conductive Centre in the model, three features stand out:

The general trend of the Conductive Centre is sub-parallel to the NE strike of the Billiton Zone (see Figure 1), suggesting that the Conductive Centre may host a parallel zone of base-metal mineralization, similar to that of the Billiton Zone
Only the upper portion of the Conductive Centre has been tested by diamond drilling; there is a 200-metre gap in drilling between the high-grade intercepts and the down-dip extension of the Conductive Centre (see Figure 2);
The Conductive Centre remains open down-dip despite what is shown on Figures 1 & 2: the location of the drill hole trace for MAR-23-03 and the New BHEM conductor are not aligned in the same plane, indicating there is an area of significant size in the gap.
Drilling continues to indicate a robust hydrothermal system certainly capable of producing a significant VMS deposit. Follow up drilling to define the continuity of previously encountered high-grade mineralization in the conductive centre is clearly warranted.

QUALIFIED PERSON

Donald Hoy, M. Sc., P. Geo. Copper Lake’s Vice President of Exploration, is the Qualified Person responsible for the technical content contained in this news release.

ABOUT COPPER LAKE RESOURCES

Copper Lake Resources Ltd. is a publicly traded Canadian mineral exploration and development company with interests in two projects both located in Ontario. www.copperlakeresources.com

The Marshall Lake high-grade VMS copper, zinc, silver and gold project, comprises an area of approximately 220 square km located 120 km north of Geraldton, Ontario and is just 22 km north of the main CNR rail line. Copper Lake has an 82.55% interest in the joint ventured property, which consists of 233 claims and 52 mining leases. The project also includes 148 claim cells staked in 2018 and 2020 that are 100% owned and not subject to any royalties, which add approximately 30 square km to the original property.

In addition to the original Marshall Lake property above, Marshall Lake also includes the Sollas Lake and Summit Lake properties, which are 100% owned by the Company and are not subject to any royalties. The Sollas Lake property consists of 20 claim cells comprising an area of 4 square km on the east side of the Marshall Lake property where historical EM airborne geophysical surveys have outlined strong conductors on the property hosted within the same favorable felsic volcanic units. The Summit Lake property currently consists of 100 claim cells comprising an area of 20.5 square km, is accessible year-round, and is located immediately west of the original Marshall Lake property. The Marshall Lake project is located in the traditional territories of the Aroland and Animbiigoo Zaagi igan Anishinaabek (“AZA”) First Nations.

Copper Lake has a 69.79% joint venture interest in the Norton Lake nickel, copper, cobalt, and palladium PGM property, located in the southern Ring of Fire area, is approximately 100 km north of the Marshall Lake Property. The Norton Lake property is located in the traditional territories of the Eabametoong (“Fort Hope”) and Neskantaga First Nations.
Posted at 10/4/2024 15:39 by stu31
Copper Lake Provides Update on 2024 Winter Drilling Program at Marshall Lake Copper-Zinc-Silver VMS Property
10/04/2024 12:45pm

Copper Lake Resources Ltd. (TSX-V: CPL, Frankfurt: WOI, OTC: WTCZF) (“Copper Lake” or the “Company”;) is pleased to provide the following update on diamond drilling, recently completed on its Marshall Lake copper-zinc-silver VMS property, located in Northwestern Ontario.
Two prime target areas were the focus of diamond drilling during the drill program, including a prominent MT (magneto-telluric) conductor, situated proximal and below high-grade copper-zinc-silver stringer mineralization, known as the Deep EM target. The second drill target was an EM conductor situated 2 km to the east of the Billiton deposit.

Terry MacDonald, CEO commented “At 800 metres, this was the deepest hole ever drilled at Marshall Lake. At depths between 400 and 800 metres, we encountered almost 280 metres of strong to very strong alteration, which is very encouraging as it demonstrates the presence of a large VMS proximal hydrothermal alteration system containing copper and zinc sulphides. We are hopeful that the pending results of the borehole Pulse EM survey will indicate the presence of potentially commercial scale massive Cu-Zn-Ag-Au sulphides in this area.”

MT TARGET 1

MT Conductor 1 comprised the highest priority conductor for drilling, given its close association with bore-hole electromagnetic (BHEM) conductors and associated high-grade stringer mineralization situated 300 metres below surface (collectively the Deep EM Target).

The Deep EM Target was drilled by the Company in 2021 and 2022, yielding high-grade intercepts including:

8.13% Cu, 7.26% Zn, 240.80 g/t Ag & 0.33 g/t Au over 2.11 metres1
5.81 % Cu, 7.32% Zn, 171.20 g/t Ag & 0.02 g/t Au over 1.95 metres1
2.37% Cu, 1.75% Zn, 413.15 g/t Ag & 0.37 g/t Au over 6.00 metres1
The goal of the MT survey was to define conductors reflecting extensions to such stringer and/or massive sulphide mineralization below the 300-metre level and to the MT survey depth capability of up to 1000 metres.

Hole MAR-24-02 was drilled through the heart of MT Conductor 1 to a final depth of 802 metres (Figure 1). Several broad intervals of hydrothermal alteration typical of and accompanying VMS deposit mineralization were encountered in the drill hole, as tabled below:

Five zones of moderate to very strong biotite, chlorite, sericite and silicic (and locally amphibole alteration) were intersected over widths ranging from 7.0 metres to 110.5 metres. The deeper intercepts over the intervals 392.0 to 492.0 metres, 512.8 to 581.0 metres and 691.5 to 799.4 metres are more strongly altered compared to the shallower intercepts and contain greater abundance of pyrrhotite, chalcopyrite and sphalerite. The presence of long intercepts of strong alteration, containing locally significant sulphides is encouraging and will require additional diamond drilling in the search for potential massive sulphide zones.

One hundred and fifty core samples of alteration and mineralization were submitted to Agat Laboratories in Thunder Bay, Ontario for analyses. Results will be released as they become available.

Abitibi Geophysics is currently conducting a borehole electromagnetic (BHEM) survey on MAR-24-02 to provide directional information pointing to more conductive sulphide-bearing material within this large VMS alteration halo. In addition, two historic holes situated within a 300 metre radius from MAR-24-02 (CML-93-10 and ML-95-16) will also be probed. These two drill holes with lengths of 600 metres reported thick intercepts of strong to intense hydrothermal alteration and disseminated base-metal sulphides similar to that seen in MAR-24-02, attesting to the large size of the VMS mineralizing system.

The BHEM survey results should be available by late April.

BUILD-UP CONDUCTOR TARGET

Another electromagnetic conductor, known as the Build-Up Conductor, was fully defined in a recent large-loop electromagnetic survey (LLEM) completed by Abitibi Geophysics. The conductor, located in younger rocks, is approximately 2 kilometres east of the Billiton deposit in an un-drilled area of the Marshall Lake property. The conductor as modelled, has dimensions of 500 metres by 150 metres and has moderate strength conductance.

A single drill hole (MAR-24-01) was completed to evaluate the conductor and was drilled to a final depth of 502 metres. The hole intersected a thick sequence of altered volcanic rocks intruded by gabbro sills. Alteration in the volcanic and intrusive lithotypes comprises weak to moderate chloritization, silicification and potassic alteration in high-grade metamorphic rocks.

Two mineralized zones were encountered: the first from 240.0-260.0 metres and the second from 330.0-360.0 metres downhole, respectively. Both contained patchy pyrrhotite, pyrite and magnetite, locally up to 10% in abundance. The presence of the magnetite as well as pyrrhotite and pyrite are believed to explain the presence of the conductor. Apart from trace to minor chalcopyrite, no significant base-metal mineralization was observed in the drill hole.

Sampling of the altered and mineralized sections of the core was recently completed with subsequent shipping of the samples to Agat Laboratories in Thunder Bay. Results will be released as they become available.

1Analyses completed by Activation Laboratories in Ancaster, Ontario utilizing the 1A2 – Fire Assay, AA Finish, 1H INAA (INAAGEO), Total Digestion (Total) and the UT-7, Sodium Peroxide Fusion (ICP & ICP MS) analytical packages

QUALIFIED PERSON

Donald Hoy, M. Sc., P. Geo. Copper Lake’s Vice President of Exploration, is the Qualified Person responsible for the technical content contained in this news release.

ABOUT COPPER LAKE RESOURCES

Copper Lake Resources Ltd. is a publicly traded Canadian mineral exploration and development company with interests in two projects both located in Ontario. www.copperlakeresources.com

The Marshall Lake high-grade VMS copper, zinc, silver and gold project, comprises an area of approximately 220 square km located 120 km north of Geraldton, Ontario and is just 22 km north of the main CNR rail line. Copper Lake has an 81.54% interest in the joint ventured property, which consists of 233 claims and 52 mining leases. The project also includes 148 claim cells staked in 2018 and 2020 that are 100% owned and not subject to any royalties, which add approximately 30 square km to the original property.

The Marshall Lake project is located in the traditional territories of the Aroland and Animbiigoo Zaagi igan Anishinaabek (“AZA”) First Nations.

Copper Lake also has a 69.79% joint venture interest in the Norton Lake nickel, copper, cobalt, and palladium PGM property, located in the southern Ring of Fire area, is approximately 100 km north of the Marshall Lake Property. The Norton Lake property is located in the traditional territories of the Eabametoong (“Fort Hope”) and Neskantaga First Nations.
Posted at 13/3/2024 18:58 by stu31
Copper Lake Commences Drilling on Its Marshall Lake Copper-Zinc-Silver VMS Property, Northwestern Ontario
07/03/2024 1:15pm
GlobeNewswire Inc.

Copper Lake Resources (TSXV:CPL)

Copper Lake Resources Ltd. (TSX-V: CPL, Frankfurt: WOI, OTC: WTCZF) (“Copper Lake” or the “Company”;) is pleased to announce that it has commenced diamond drilling on its Marshall Lake Zn-Cu-Ag VMS property, located in Northwestern Ontario. The drilling is being completed by Helm Diamond Drilling Ltd. based out of Binche, British Columbia, utilizing a Discovery 2 fly diamond drill rig.
Two prime target areas will be the focus of diamond drilling during the current campaign, including a prominent magneto-telluric (“MT”) conductor situated proximal and below high-grade zinc-copper silver stringer mineralization, known as the Deep EM target. The second drill target includes an EM conductor situated 2 km to the east of the Billiton deposit.

MT TARGETS

The magneto-telluric method is a geophysical technique that uses naturally occurring electromagnetic fields (“EM”) to measure the electrical conductivity of the earth. MT conductors reflect the presence of metallic sulphide deposits to depths of up to 1,000 metres, far beyond the depth of historical geophysical surveys completed at Marshall Lake.

SJ Geophysics Ltd., based out of Delta, BC, completed the MT survey in July 2021. The Company had the MT data interpreted and modelled, with the objective of defining deep drill targets. The survey was completed in the locale of the Deep EM target, drilled by the Company in 2021 and 2022, yielding high-grade intercepts including:

8.13% Cu, 7.26% Zn, 240.80 g/t Ag & 0.33 g/t Au over 2.11 metres1
5.81 % Cu, 7.32% Zn, 171.20 g/t Ag & 0.02 g/t Au over 1.95 metres1
2.37% Cu, 1.75% Zn, 413.15 g/t Ag & 0.37 g/t Au over 6.00 metres1
The stringer-style mineralization is situated at a depth of approximately 300 metres below surface. The MT survey was commissioned in order to see conductors reflecting extensions to the identified stringer and/or massive sulphide mineralization to depths of up to 1,000 metres, and potentially expand on the limits and size potential of the VMS mineralizing system.

The 3D modelling delineated 3 strong conductors situated proximal to the Deep EM target and Billiton deposit that are high-grade stringer or feeder zones (Figures 1). All 3 MT conductors are thought to be very prospective for the presence of a nearby massive sulphide deposit. None of the MT conductors have been tested by diamond drilling.

MT Conductor 1 is the highest priority conductor for drilling given its close association with bore-hole electromagnetic (BHEM) conductors and associated high-grade stringer mineralization, centered 300 metres below surface (collectively the Deep EM Target). The upper part of MT Conductor 1 coincides very closely with the BHEM plates and mineralization but most importantly, continues down-plunge to the southeast to a depth of close to 1,000 metres (Figure 2). The geological and geophysical evidence suggests that MT Conductor 1 could be reflecting the down-plunge extension of the high-grade stringer mineralization reported above, but at greater depth.

Clearing and cribbing of the site for the drill rig to access MT Conductor 1 is currently underway. It is anticipated that the drill will be on the site and coring within the next three to four days. The Discovery 2 fly drill rig has a depth capability of 750 metres turning NQ-size rods, and it is expected that the hole will be completed to at least that depth.

BUILD-UP CONDUCTOR TARGET

An interesting electromagnetic conductor, known as the Build-Up Conductor, was fully defined in a recent large-loop electromagnetic survey (LLEM) completed by Abitibi Geophysics. The conductor, located in younger rocks, is approximately 2 kilometres east of the Billiton deposit in an un-drilled area of the Marshall Lake property. The conductor as modelled, has dimensions of 500 metres by 150 metres and has moderate strength conductance.

A single drill hole (MAR-24-01) was completed to test the conductor. The hole intersected a thick sequence of altered volcanic rocks intruded by gabbro sills. Alteration in the volcanic and intrusive lithotypes comprises weak to moderate chloritization, silicification and potassic alteration in high-grade metamorphic rocks. Disseminated magnetite as well as patchy and net-textured pyrrhotite and pyrite are hosted within the rock types, over significant widths. The presence of the magnetite as well as pyrrhotite and pyrite are believed to explain the presence of the conductor.

Sampling of the altered and mineralized sections of the core will be undertaken in the coming days. Assay results will be released as they become available.

1Analyses completed by Activation Laboratories in Ancaster, Ontario utilizing the 1A2 – Fire Assay, AA Finish, 1H INAA (INAAGEO), Total Digestion (Total) and the UT-7, Sodium Peroxide Fusion (ICP & ICP MS) analytical packages

QUALIFIED PERSON

Donald Hoy, M. Sc., P. Geo. Copper Lake’s Vice President of Exploration, is the Qualified Person responsible for the technical content contained in this news release.

ABOUT COPPER LAKE RESOURCES

Copper Lake Resources Ltd. is a publicly traded Canadian mineral exploration and development company with interests in two projects both located in Ontario. www.copperlakeresources.com

The Marshall Lake high-grade VMS copper, zinc, silver and gold project, comprises an area of approximately 220 square km located 120 km north of Geraldton, Ontario and is just 22 km north of the main CNR rail line. Copper Lake has a 81.54% interest in the joint ventured property, which consists of 233 claims and 52 mining leases. The project also includes 148 claim cells staked in 2018 and 2020 that are 100% owned and not subject to any royalties, which add approximately 30 square km to the original property.

In addition to the original Marshall Lake property above, Marshall Lake also includes the Sollas Lake and Summit Lake properties, which are 100% owned by the Company and are not subject to any royalties. The Sollas Lake property consists of 20 claim cells comprising an area of 4 square km on the east side of the Marshall Lake property where historical EM airborne geophysical surveys have outlined strong conductors on the property hosted within the same favorable felsic volcanic units. The Summit Lake property currently consists of 100 claim cells comprising an area of 20.5 square km, is accessible year-round, and is located immediately west of the original Marshall Lake property. The Marshall Lake project is located in the traditional territories of the Aroland and Animbiigoo Zaagi igan Anishinaabek (“AZA”) First Nations.

Copper Lake has a 69.79% joint venture interest in the Norton Lake nickel, copper, cobalt, and palladium PGM property, located in the southern Ring of Fire area, is approximately 100 km north of the Marshall Lake Property. The Norton Lake property is located in the traditional territories of the Eabametoong (“Fort Hope”) and Neskantaga First Nations.
Posted at 30/1/2024 17:47 by stu31
Copper Lake Provides Exploration Update on Its Marshall Lake Copper-Zinc-Silver VMS Property, Northwestern Ontario
30/01/2024 1:00pm

Copper Lake Resources Ltd. (TSX-V: CPL, Frankfurt: WOI, OTC: WTCZF) (“Copper Lake” or the “Company”;) announces that the Company has contracted with Forage Geo-Nord to conduct drilling for the winter 2024 drill program. The Company recently finalized the primary targets for the winter 2024 drill program, known as the MT conductors and the Build-up conductor.
As the Ministry of Natural Resources and Forestry (“MNRF”) had decommissioned two bridges in 2023 that had previously been used to access the drill site from the south side of the property, the Company had planned to access the property from the north side, using the Ogoki Road. However, the unusually warm winter has delayed the freeze-up and the conditions will not allow us to access the site at this time with the planned drill equipment. The drill rig that we had planned to use, which is capable of drilling to depths of 1,500 meters, is too heavy to fly in by helicopter.

As a result, we will focus our drilling efforts on the Build-up Conductor where the targets are likely to be less than 500 meters in depth, and we can use a smaller drill that can be mobilized to site by helicopter.

The Build-up Conductor appears to be an extension of the MT Conductor, which is trending to the east, as shown in the attached geophysical images.

MT SURVEY INTERPRETATION

The magneto-telluric (MT) method is a geophysical technique that uses naturally occurring electromagnetic fields (EM) to measure the electrical conductivity of the earth. MT conductors reflect the presence of metallic sulphide deposits to depths of up to 1,000 metres, far beyond the depth of historical geophysical surveys completed at Marshall Lake. SJ Geophysics Ltd., based out of Delta, BC, completed the MT survey in July 2021.

The Company recently had the MT data interpreted and modelled, with the objective of defining deep drill targets. The survey was completed in the locale of the Deep EM target, drilled by the Company in 2021 and 2022, yielding high-grade intercepts including:

8.13% Cu, 7.26% Zn, 240.80 g/t Ag & 0.33 g/t Au over 2.11 meters
5.81 % Cu, 7.32% Zn, 171.20 g/t Ag & 0.02 g/t Au over 1.95 meters
2.37% Cu, 1.75% Zn, 413.15 g/t Ag & 0.37 g/t Au over 6.00 meters1
Such stringer-style mineralization is situated at a depth of approximately 300 metres below surface. The intent of completing the MT survey was the ability to see conductors to depths of up to 1,000 metres, well below the stringer mineralization associated with the Deep EM target documented above.

The 3D modelling delineated 3 strong conductors, 2 of which are centered at a depth of approximately 500 meters below surface. The conductors are situated proximal to the Deep EM target and Billiton deposit that are high-grade stringer or feeder zones (Figures 1). Thus, all 3 MT conductors are thought to be very prospective for the presence of a nearby massive sulphide deposit. None of the MT conductors have been tested by diamond drilling.

MT conductors 1 and 2 are closely related to the Deep EM target and associated with high-grade stringer mineralization and may manifest the down-dip or down-plunge extension of such mineralization. Collectively, both conductors are strong and persistent at depths commencing at 400 meters and persisting to a maximum depth of 1,000 meters below surface, respectively (Figure 2).

MT conductor 3 is a shallower target, the top of which is located 250 meters below surface and may represent the down-dip extension of the Billiton deposit, to the west of its known extent. It also may represent a parallel or stacked zone of mineralization. Historic drilling is not known to have been completed on MT conductor 3.

BUILD-UP CONDUCTOR

Large-loop electromagnetic (EM) surveys were conducted by Abitibi Geophysics during the winter of 2023. A compelling Build-up conductor was defined by the survey, situated approximately 2 kilometers to the east of the MT Conductors and Billiton deposit (Figure 3). This conductor is interpreted to be hosted in younger rocks, stratigraphically above the rocks associated with the Billiton deposit and MT conductors. Notably, the apparent east-west trend of MT conductors 1, 2 and 3 if extended to the east, would coincide closely with the location of the Build-up conductor. Also, a syn-volcanic fault and magnetic high documented on Government maps, transects the conductor, adding further potential to the prospects of the target.

A geophysical contractor will be on site within a week to complete additional large-loop EM surveying to fully define the size, strength and orientation of the Build-up conductor. It is anticipated that the survey will take 4 to 5 days to complete with results to be in hand shortly thereafter.

ABOUT COPPER LAKE RESOURCES

Copper Lake Resources Ltd. is a publicly traded Canadian mineral exploration and development company with interests in two projects both located in Ontario. www.copperlakeresources.com

The Marshall Lake high-grade VMS copper, zinc, silver and gold project, comprises an area of approximately 220 square km located 120 km north of Geraldton, Ontario and is just 22 km north of the main CNR rail line. Copper Lake has a 81.54% interest in the joint ventured property, which consists of 233 claims and 52 mining leases. The project also includes 148 claim cells staked in 2018 and 2020 that are 100% owned and not subject to any royalties, which add approximately 30 square km to the original property.

In addition to the original Marshall Lake property above, Marshall Lake also includes the Sollas Lake and Summit Lake properties, which are 100% owned by the Company and are not subject to any royalties. The Sollas Lake property consists of 20 claim cells comprising an area of 4 square km on the east side of the Marshall Lake property where historical EM airborne geophysical surveys have outlined strong conductors on the property hosted within the same favorable felsic volcanic units. The Summit Lake property currently consists of 100 claim cells comprising an area of 20.5 square km, is accessible year-round, and is located immediately west of the original Marshall Lake property. The Marshall Lake project is located in the traditional territories of the Aroland and Animbiigoo Zaagi igan Anishinaabek (“AZA”) First Nations.

Copper Lake has a 69.79% joint venture interest in the Norton Lake nickel, copper, cobalt, and palladium PGM property, located in the southern Ring of Fire area, is approximately 100 km north of the Marshall Lake Property. The Norton Lake property is located in the traditional territories of the Eabametoong (“Fort Hope”) and Neskantaga First Nations.
Posted at 27/12/2023 23:01 by stu31
COPPER LAKE RESOURCES ANNOUNCES CLOSING OF FIRST TRANCHE OF NON-BROKERED PRIVATE PLACEMENT

December 15, 2023 – Toronto, ON – Copper Lake Resources Ltd. (TSX-V: CPL, Frankfurt:
WOI, OTC: WTCZF) (“Copper Lake” or the “Company”;) is pleased to announce the closing of afirst tranche of a private placement of units of the Company (the “Private Placement”) for gross proceeds of $550,000.
The Private Placement is comprised of the issuance of 12,200,000 Non Flow-Through Units (“NFT Units”) at a price of $0.025 per NFT Unit and 9,800,000 Flow-Through Units (“FT Units”) at a price of $0.025 per FT Unit. Each NFT Unit is comprised of one common share in the capital of Copper Lake (a “Common Share”) and one Common Share purchase warrant (a “NFT Warrant”).
Each FT Unit is comprised of one Flow-Through common share and one-half of one Common Share purchase warrant (each whole warrant a “Warrant”;). Each Warrant entitles the holder to acquire one additional share at an exercise price of $0.10 per Common Share. Warrants issued as part of the NFT Units will be exercisable for a period of 36 months from the closing date. Warrants issued as part of the FT Units will be exercisable for a period of 24 months from the closing date.
The Warrants shall be subject to an accelerated expiry date clause whereby. At any time following the expiry of the four-months and one day hold period, should the weighted average closing price of the Common Shares on the TSX Venture Exchange (the “TSX-V”) be more than $0.20 for a period of 15 consecutive trading days, the Company shall be entitled to accelerate the expiry date of the warrants to a date which is 30 days following the date on which the Company announces the accelerated expiry of the Warrants by press release.
The net proceeds of the financing will be used for exploration at the Company’s Marshall Lake project and for general working capital purposes.
In connection with the first closing of the private placement, the Company will pay a cash finders’ fee of $15,050, issue 308,000 NFT Units and issue 910,000 finders’ warrants, representing 7% cash and 7% finder’s warrants. Each finders’ warrant entitles the holder to acquire one additional share at an exercise price of $0.10 per Common Share for a period of 36 months from the closing date.
Completion of the private placement and payment of any finders’ fees remain subject to the receipt of all necessary regulatory approvals, including approval of the TSX-V.
In accordance with applicable Canadian securities laws, all securities issued pursuant to the private placement will have a hold period of four months and one day from the date of issuance
Posted at 27/12/2023 22:58 by stu31
COPPER LAKE ANNOUNCES APPROVAL OF $200,000 OJEP GRANT AND RECEIPT OF EXPLORATION PERMIT

December 8, 2023 – Toronto, ON – Copper Lake Resources Ltd. (TSX-V: CPL, Frankfurt: WOI, OTC: WTCZF) (“Copper Lake” or the “Company”;) is pleased to announce that it has been selected to receive grant funding of up to $200,000 under the Ontario Junior Exploration Program (“OJEP”) from the Ontario Government. This amount will cover up to 50% of eligible exploration costs, to a maximum of $200,000 in respect of expenditures incurred by the Company during the period from April 1, 2023 to February 15, 2024, on the Marshall Lake MT Conductor Project.
The Company was also notified on November 20, 2023 that its Exploration Permit Application on the Marshall Creek Project had been issued, for a period of three years. The Marshall Creek Project area includes the E-W Build-Up Conductor (see July 19, 2023 News Release). The permit will allow us to perform the planned LLEM survey to determine the extent of the conductor and identify drill targets, with drilling to immediately follow.

Financing Update
The previously announced private placement (see November 17, 2023 News Release) is expected to close between December 12, 2023 and late December 2023. The net proceeds of the financing will be used for exploration at the Company’s Marshall Lake project and for general working capital purposes. Additionally, the use of proceeds does not include any proposed payments to non-arms length parties nor any payments to persons conducting Investor Relations activities.
Posted at 27/12/2023 22:57 by stu31
COPPER LAKE ANNOUNCES NON-BROKERED PRIVATE PLACEMENT

November 17, 2023 – Toronto, ON – Copper Lake Resources Ltd. (TSX-V: CPL, Frankfurt:
WOI, OTC: WTCZF) (“Copper Lake” or the “Company”;) is pleased to announce that it intends to complete a non-brokered private placement financing for total gross proceeds of up to $2,500,000.
The financing will consist of up to 30,000,000 Non Flow-Through Units (“NFT Units”) at a price of $0.025 per NFT Unit and up to 70,000,000 Flow-Through Units (“FT Units”) at a price of $0.025 per FT Unit. Each NFT Unit is comprised of one common share in the capital of Copper Lake (a “Common Share”) and one Common Share purchase warrant (a “Warrant”;). Each FT Unit is comprised of one Flow-Through common share and one-half of one Common Share purchase warrant (each whole warrant a “Warrant”;). Each Warrant entitles the holder to acquire one additional share at an exercise price of $0.10 per Common Share. Warrants issued as part of the NFT Units will be exercisable for a period of 36 months from the closing date. Warrants issued as
part of the FT Units will be exercisable for a period of 24 months from the closing date.
The Warrants shall be subject to an accelerated expiry date clause whereby. At any time following the expiry of the four-months and one day hold period, should the weighted average closing price of the Common Shares on the TSX Venture Exchange (the “TSX-V”) be more than $0.20 for a period of 15 consecutive trading days, the Company shall be entitled to accelerate the expiry date of the warrants to a date which is 30 days following the date on which the Company announces the accelerated expiry of the Warrants by press release.
Closing of the proposed private placement is subject to obtaining all required approvals, including the approval of the TSX-V and any other regulatory approval. All securities issued pursuant to the private placement will be subject to a hold period of four months and one day from the date of issuance under applicable securities laws. The securities have not been, and will not be, registered
under the United States Securities Act, or any state securities laws, and accordingly may not be offered or sold within the United States except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities requirements or pursuant to exemptions therefrom. This press release does not constitute an offer to sell or a solicitation to buy any securities in any jurisdiction.
The Company may pay a finder’s fee consisting of cash and finders’ warrants to certain qualifiedindividuals. Each finders’ warrant would be issued upon the same terms as the NFT Unit Warrants issued as part of the offering.
The financing is expected to close on or about December 7, 2023. The net proceeds of the financing will be used for exploration at the Company’s Marshall Lake project and for general working capital purposes. In accordance with applicable Canadian securities laws, all securities issued pursuant to the private placement will have a hold period of four months and one day from the date of issuance.

ABOUT COPPER LAKE RESOURCES
Copper Lake Resources Ltd. is a publicly traded Canadian mineral exploration and development company with interests in two projects both located in Ontario. www.copperlakeresources.com
The Marshall Lake high-grade VMS copper, zinc, silver and gold project, comprises an area of approximately 220 square km located 120 km north of Geraldton, Ontario and is accessible by all-season road from the Trans-Canada Highway and just 22 km north of the main CNR rail line.
Copper Lake has a 79.45% interest in the joint ventured property, which consists of 233 claims and 52 mining leases. The project also includes 148 claim cells staked in 2018 and 2020 that are 100% owned and not subject to any royalties, which add approximately 30 square km to the original property.
In addition to the original Marshall Lake property above, Marshall Lake also includes the Sollas Lake and Summit Lake properties, which are 100% owned by the Company and are not subject to any royalties. The Sollas Lake property consists of 20 claim cells comprising an area of 4 square km on the east side of the Marshall Lake property where historical EM airborne geophysical surveys have outlined strong conductors on the property hosted within the same favorable felsic volcanic units. The Summit Lake property currently consists of 100 claim cells comprising an area of 20.5 square km, is accessible year-round, and is located immediately west of the original Marshall Lake property. The Marshall Lake project is located in the traditional territories of the Aroland and Animbiigoo Zaagi igan Anishinaabek (“AZA”) First Nations.
Copper Lake has a 69.79% joint venture interest in the Norton Lake nickel, copper, cobalt, and palladium PGM property, located in the southern Ring of Fire area, is approximately 100 km north of the Marshall Lake Property. The Norton Lake property is located in the traditional territories of the Eabametoong (“Fort Hope”) and Neskantaga First Nations.
Posted at 17/1/2022 21:12 by scotian
You guys who think you're still in negative territory!
You havn't forgotten have you, that you received about 2.54 CPL for every 1 MLM, Which means your purchase price has to hsve been above 25 pence to have a loss to declare at 17.30 cents
Posted at 31/12/2021 22:04 by hiddendepths
Who cares about the long dead Chapelthorpe any more?

Copper Lake, on the other hand, is drilling a few holes looking for copper, zinc and other bits and pieces like silver. The drilling appears to be approaching a critical point and the shares are flying!

I have no ideas what theories are circling in Canada but the shares seem to be reflecting more than a little optimism.

I've had shares in this normally static minnow for quite a while but the movement in the last few days has certainly woken me up! I always thought the gearing of the share price to a commercial find was very good. While many such punts never make it, the odd one that strikes paydirt more than makes up for it. My fingers are crossed for news in the near future!
Posted at 10/5/2016 23:12 by buttifant
has anyone heard about the company that bought out chaplethorpe have gone into liquidation and are paying $2.56 per share
Chapelthorpe share price data is direct from the London Stock Exchange

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