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Mountain Lake Minerals Inc.
Summary
| Project: | Glover Island | |
|---|---|---|
| Deposit: | Lunch Pond South Extension | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 6/26/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 26-6-2017: Mountain Lake Minerals Inc. announces a Resource Estimation report for its Lunch Pond South Extension deposit at the Glover Island project. Resource estimate for the Lunch Pond South Extension. P&E Mining Consultants Inc. (“P&E”) has been retai | |
| Resources: | (Resource): 1.029Mt @ 1.76g/t Au (Ind.) & 2.076Mt @ 1.81g/t Au | |
| CP/QP: | [Resources]: Eugene Puritch (P&E Mining Consultants Inc.) | |
| ABSTRACT: | P&E Mining Consultants Inc. (“P&E”) has been retained by Mountain Lake Minerals Inc. (“Mountain Lake” or the “Company”) to provide a Mineral Resource Estimate for the Lunch Pond South Extension (“LPSE”) Deposit on Glover Island, and to prepare an independent Technical Report in accordance with the reporting requirements of Canadian National Instrument 43-101 (“NI 43-101”). The property is located in western Newfoundland. The Glover Island property is owned 100% by Mountain Lake. On October 8, 2010, the Company acquired an undivided 100% interest in the Glover Island Property from New Island Resources. The Glover Island Property consists of one mining lease covering a total of 2,550 hectares. New Island retains a net smelter returns royalty of 1% of commercial production, which reduces to 0.5% after the payment of the first $1.0 million. The LPSE deposit is located at the south-western portion of an 11 km long mineralized corridor known as the Glover Island Trend (“GI Trend”). This prospective GI Trend is host to 17 gold, base metal, nickel and polymetallic minerals prospects in addition to numerous gold anomalies that cross several rock types adjacent to a major structural break known as the Cabot Fault which separates the Humber Zone terrain to the west from the Dunnage Zone to the east. Remnant slivers of the Humber Zone are recognized on Glover Island in addition to Dunnage Zone lithofacies. | |
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