Glacier Lake Provides Update on Recently Completed Silver Vista Transaction
June 1, 2017
Vancouver, B.C. – June 1st, 2017 – Glacier Lake Resources Inc. TSXV: GLI – (“Glacier” or the “Company”) has contracted Mammoth Geological Ltd., to undertake the 2017 exploration program on its Silver Vista property near Smithers, British Columbia. An initial, first pass program, consisting of property reconnaissance, prospecting and sampling is planned for late June. The objective of the first pass program is to verify access into the various parts of the property, locate the main showings and prospect favourable areas following up on the anomalies generated by Amarc Resources Ltd., during its 2011 through 2014 exploration programs as well as the VTEM survey flown earlier this year.
Glacier Lake plans to follow up on this first pass program with a diamond drilling program later in the field season. The permitting process is under way. The project was previously permitted for drilling by Amarc, and since these permits just expired recently, the Company anticipates the approval process should be routine.
The drilling will target the MR zone, a clastic sediment-hosted, fine grained, disseminated copper silver zone. Historic exploration includes soil geochemistry, trenching and diamond drilling in an area of limited outcrop exposure:
- Soil geochemistry outlined an area approximately 1.5 by 2.0 kilometers around the MR prospect area.
- Six excavator trenches highlighted an area 100 metres long by 17 metres wide, with three of the trenches intersecting mineralized bedrock: trench 2 – 10.5 metres at 0.22% Cu and 38 gpt Ag, trench 3 – 16.5 metres at 0.53% Cu and 74 gpt Ag and trench 4 – 15 metres at 0.53% Cu and 28 gpt Ag.
- Fourteen drill holes totaling 1,252.5 metres 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.
Three other anomalous zones were identified by Amarc during its exploration programs. Further details can be found in the recently completed 43-101 report on the property located under the Company’s SEDAR profile.
Glacier Lake has not yet verified the historic soil, trenching and drilling data. Data verification is one of the objectives of the first pass and subsequent diamond drilling program.
The Company is also pleased to announce the addition of R. Tim Henneberry, P.Geo. to the Company’s Advisory Board.
Mr. Henneberry, a graduate of Dalhousie University, is a Professional Geoscientist registered in British Columbia. Mr. Henneberry has extensive experience in mineral exploration and development for precious and base metals and industrial minerals. He has worked in western and northern Canada, southwestern United States, Africa and South America. He is the principal of Mammoth Geological Ltd.
Mr. Henneberry was a founding Director, President and Chief Executive Officer of Appleton Exploration Inc., from 2006 to 2011 and founding Director, President and Chief Executive Officer of Indigo Exploration Inc. from 2009 to 2011, raising in excess of $11 million dollars for the two companies. Mr. Henneberry is currently a Director of Broadway Gold Mining Ltd., Sojourn Ventures Inc. and Quadro Resources Ltd. He sits on the advisory boards of Anfield Resources Ltd., Canadian Zeolite Corp. and Tasca Resources Ltd.
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.