Interesting to see that a company Greencastle Resources is pleased to report the success of GLM in drilling in Nevada. GLM can obtain 100% of this play!
"Greencastle Resources Ltd. (“Greencastle” or ‘the Company”) (TSXV: “VGN”) is pleased to report encouraging drill results at Jewel Ridge, Nevada and receipt of two million common shares of Golden Lake Exploration Inc. (CSE: "GLM").
"We are very encouraged by the Golden Lake results at Jewel as we turn our attention to the Seagrave property and the Red Lake area of NW Ontario. These are two of the world's great gold mining districts." commented Anthony Roodenburg, Greencastle, CEO.
On November 19, 2020, Golden Lake Exploration Inc. reported: "A new mineralized zone was intersected in hole JR-20-09 at a depth of 160.0 metres, averaging 1.48 grams per tonne gold and 1.3 grams per tonne silver over an interval of 10.67 metres. This represents a second mineralized horizon hosted in dolomite, in addition to the upper mineralized zone, which returned 1.25 grams per tonne gold and 5.5 grams per tonne silver over 16.76 metres from surface in hole JR-20-09. These four holes wrap up the summer program results; assays are now pending from the most recent program announced Oct. 20, 2020."
Golden Lake can earn a 100-per-cent interest in Jewel Ridge, subject to certain royalties, by paying Greencastle $155,000 in cash, issuing five million Golden Lake Exploration shares and spending $750,000 over three years. Greencastle has received three million common shares of GLM.