|Crystal Lake Mining Site Visit|
I am not a proponent of global warming, pollution and receding ice fields. But reality is that these things are unfortunately transpiring and I am hoping that humanity becomes more socially responsible and that these catastrophes come to a stop or at least slow down. There are many more repercussions that we will have to deal with if we don’t do more to limit the damage. One avail, if it can be called that, of receding glaciers and snowfields is that they have exposed potential new mineral deposits that the world may need.
I recently had the opportunity to visit Crystal Lake Mining’s (TSXV: CLM) Newmont Lake Project located in Northwest British Columbia’s Eskay Camp, the heart of the infamous Golden Triangle. This 550 sq. km project occupies the northwest section of a board corridor in the Eskay Camp that starts in the southeast at Pretium Resources’ high-grade Brucejack mine. There are several deposits and past producers in between Brucejack and the Newmont Lake Project, including of course the Eskay Creek mine which was a rich ore discovery.
Seven of us attended the Crystal Lake site visit ranging from an investor to a social media expert to Investor Relations (IR) reps. This was led by a gentleman whom I have a high degree of respect for as do many in the industry, Sean Kingsley, Director of Communications at Crystal Lake Mining. His focus on the team and making everyone feel comfortable made the overall experience “A” level. We stayed at the AltaGas camp before heading by helicopter to the Crystal Lake camp. The camp is quite amazing. It holds about 50 individuals and is situated near what’s called the Chachi Corridor in the northeast part of the project where up to 4 km of glacial retreat has occurred over the past decade. After a tour and lunch at the camp, we headed by helicopter to the top of Burgundy Ridge on the western side of the project where we met two of the drillers at the drill rig and walked the top of the mountain. This large target area with compelling surface mineralization was completely covered by ice a decade or so ago and until now has never been diamond drilled.
The view from Burgundy Ridge was one of the most spectacular I have ever laid my eyes on. Seeing glaciers and standing on top of a mountain at around 6,000 feet would take anyone’s breath away. But the real story here may be what is contained within the mountain (like elsewhere throughout this prolific district). Drilling continues and my fingers are crossed.
When you do business with people it comes down to character. Sometimes people’s true colours don’t reveal themselves for some time down the road.
Integrity, communication, listening and caring are some key qualities that leaders in a company must possess. From what I have seen in my limited time with Crystal Lake, I believe thus far that the leadership possesses these qualities and could succeed at handling the challenging task of advancing a junior exploration company. I have been wrong in the past – time will tell but so far it seems to be good. But the people that impress me the most are the geological and the drilling team that is led by Cole Evans at HEG & Associates Exploration Services. I have learned the hard way not to let age dictate one’s maturity and knowledge level. Cole seems to possess the whole package. This team also includes Dr. Peter Lightfoot (whom I had a chance to briefly speak with – I found that his knowledge of minerals and mining is simply off the charts, and what a humble man to boot!) and VP of Exploration Maurizio Napoli – this team brings with it impressive resumes too long to list in this article.
Regardless, and with all this being said, drill results will ultimately tell the tale here and the company is working hard to unearth core for assaying. The company has been aggressive in its exploration and drilling (see excerpt of the company’s news release of August 12, 2019). There are three major interest of areas – Burgundy, the Newmont High-Grade Gold Corridor including the historic Northwest Zone deposit (the McLymont Fault is a 20-km-long structure!), and the brand new Chachi Corridor.
According to CLM’s latest news release:
“The company is pleased to announce that shallow mineralization encountered in first-ever drilling at Burgundy Ridge last fall (four reverse circulation test holes, see March 7, 2019 news release) has deep roots, extending well beyond a copper-gold enriched limestone body as maiden diamond drilling continues at this new grassroots discovery in Northwest B.C.’s Eskay Camp.
Multiple intrusive phases, breccias, alteration and mineralization styles have been intersected in each of the three holes completed to date. Significantly, the just-completed third hole of the current diamond drilling program at Burgundy Ridge was the deepest hole yet, completed over a length of 441 meters (vertical depth of 320 meters) as intensity of mineralization increased downhole in a hydrothermal breccia.
Dr. Peter Lightfoot, Crystal Lake Technical Adviser, recently concluded that “significant and coherent underlying mineralization processes at Burgundy are driven in part by an impressive fluid highway” (see July 16, 2019 news release).https://crystallakemining.com/crystal-lake-extends-burgundy-ridge-discovery-to-depth-adds-second-drill-rig-at-newmont-lake-project/ August 12, 2019
Elsewhere at the 550 sq. km Newmont Lake Project, Crystal Lake has added a second drill rig to target an extension of the historic high-grade Northwest Gold Zone. Hy-Teck Drilling will commence a series of orientated diamond drill holes shortly. Many areas within and around the historic zone were not sampled by previous operators. Crystal Lake’s team was fortunate to recover an extensive amount of historic boxes of core onsite and a continuing relogging and resampling program has returned very encouraging results, including 28.7 g/t Au and 3.65 g/t Ag over 0.9 m (207.6 to 208.5 m) from 2008 drill hole R08-03 (true width unknown at this time). Historically, this hole showed no high-grade assay results and had been interpreted as closing off the zone on the northeast end. Crystal Lake’s results demonstrate otherwise. https://crystallakemining.com/crystal-lake-extends-burgundy-ridge-discovery-to-depth-adds-second-drill-rig-at-newmont-lake-project/ August 12, 2019
Recently completed geochemical analysis by Crystal Lake already supports the strong potential for an extension of the high-grade system to the northeast. In addition, initial results from an induced polarization survey carried out by the company’s geophysics contractor indicate the presence of a chargeability anomaly northeast of the historic zone – a prospective area to target new high-grade gold mineralization.” https://crystallakemining.com/crystal-lake-extends-burgundy-ridge-discovery-to-depth-adds-second-drill-rig-at-newmont-lake-project/ August 12, 2019
It is finally great to see more excitement and attention given to the precious metals sector. Many of us have been waiting since 2011 for this time but excitement can lead to disappointment, so I would describe myself as cautiously optimistic at this time regarding the Newmont Lake Project. The road is long. But the road could be paved with gold and copper, and potentially other metals. That is a road I’d like to be on especially with this team and the recent and long awaited ascension in the price of gold.
Junior Gold Report/Kal Kotecha (JGR) has been paid by Crystal Lake Mining. JGR does hold shares in Crystal Lake Mining. Do your own due diligence and read the full disclaimer below.
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