Golden Lake Exploration Inc. [CSE: GLM; OTCQB: GOLXF] reported that it has commenced drilling on its flagship Jewel Ridge property, located in the prolific Battle Mountain-Eureka gold trend of Nevada.
The property is well-located proximal to infrastructure and is immediately adjacent to successful, high-profile exploration programs currently being undertaken by North Peak Resources Ltd. and i-80 Gold Corp. on their neighboring Prospect Mountain and Ruby Hill properties, respectively.
HD Drilling Services, based out of Winnemucca, Nevada, has been retained by the company to complete the 1,700-metre drill program. The program will consist of four to five high-priority drill targets and is anticipated to take two to three weeks to complete.
These high-priority drill targets include Induced Polarization (IP) anomalies generated from 2024 surveys situated within favorable geological and structural settings. Such settings host both Carlin-type disseminated gold deposits and carbonate replacement deposits, which are prominent in the immediate area of the South Eureka Gold Belt, where the Jewel Ridge property is located.
Other targets include historic mines yielding high precious and base-metal assays, largely exploited at shallow depth that have seen no historic drilling.
Further to the news release of September 13, 2024, announcing the closing of an oversubscribed private placement, an additional arm’s length finder was compensated with finder’s fees of $4,600 cash and 92,000 non-transferable finder’s warrants. Each finder’s warrant will entitle the finder to purchase one warrant share of the company for a 12-month period after the closing date at an exercise price of $0.07 per share.
