(Map of the Jewel Ridge property via Golden Lake Exploration Inc. Click to enlarge.)
Despite recent volatility, gold prices have been tracking higher in recent months, after scoring an all-time high at more than $2,000 (USD) per troy ounce earlier this year.
As a safe haven asset, investors have been capitalizing on this commodity and explorers with potentially rich assets are
eager to pursue their work, as many experts and analysts forecast gold’s growth to continue at a steady pace.
Governments and central banks are putting their support behind the world’s oldest currency and companies engaged in this resource are seeing their share price remain healthy. Investors should look to those engaged in the business of mineral exploration and the acquisition of mineral property assets.
Recently, junior public mining exploration Company,
Golden Lake Exploration Inc. (CSE: GLM, OTC: GOLXF, Forum) reported assay results from the first six of ten drill holes from its keystone Jewel Ridge gold property located near the town of Eureka, Nevada. The Company highlighted intercept in hole JR-20-06 at the Eureka Tunnel Zone in particular.
Results from hole JR-20-06 averaged
2.80 grams gold per tonne (g/t Au) and
5.9 grams silver per tonne (g/t Ag) over an interval of 22.86 meters from surface.
The lower portion of this intersection returned
4.38 g/t Au and
9.7 g/t Ag over 10.67 meters from a depth of 12.19 meters.
In a
news release for investors, Golden Lake’s Chief Executive Officer, Mike England, called hole JR-20-06 an excellent start to unlocking the untapped potential of the Jewel Ridge project.
“This hole identifies the potential for the Eureka Zone to host premium-grade oxide gold mineralization. With hole JR-20-06 representing the northern-most drill hole in our maiden drill program, we welcome the results of the final four drill holes and look forward to a Phase 2 program this fall. We have identified more than a dozen exploration targets on the Jewel Ridge property. Our recent drill program consisted of initial drilling on only two areas.”
The Jewel Ridge property contains 96 unpatented lode mining claims and 30 patented claims that covers approximately 7.28 square kilometres (1,800 acres), with several historic small gold mines scattered across the property. Golden Lake is focused on Carlin-style disseminated gold deposits (CTGD), which has been known to populate the area since the late 1970’s. CTGD’s boast a combined endowment of more than 250 million ounces. 85% of this is found concentrated in just four trends of deposits: Carlin, Cortez (Battle Mountain - Eureka), Getchell and Jerritt Canyon.
Located at the south end of Nevada’s prolific Battle Mountain – Eureka trend, the Jewel Ridge property sits along strike and contiguous to the Archimedes / Ruby Hill gold mine under
Barrick Gold Corp (TSX: ABX) to the north and to the south of the advanced-stage Lookout Mountain project under
Timberline Resources Corp (TSX-V: TBR).
GLG stock has built up a lot of value over the last six months, rising 23% from this time in March when a lot of companies found themselves in a COVID-induced hole, but there seems to be no looking back for this Company’s share price.
(Golden Lake Exploration Inc. stock chart. Click to enlarge.)
Golden Lake Exploration Inc. has been achieving its key objectives to acquire, explore and develop economic precious and base metal properties of merit. It seems to have found such a project with its keystone Jewel Ridge gold property, where it continues to aggressively advance its exploration program.
With the price of gold trending higher and this stock gathering value on a daily basis, it would be wise for investors to do some deeper due diligence on what GLM has to offer and keep the stock on your radar as its work continues in the coming months as the Company releases results from the other four holes located at the Jewel Ridge gold property.
To find out more about the Company, visit
goldenlakex.com.
FULL DISCLOSURE: This is a paid article produced by Stockhouse Publishing.