Copper Lake Resources Ltd.: Significant VTEM Anomalies Signal Potential for VMS Discoveries on Marshall Lake Property

VANCOUVER, BRITISH COLUMBIA, Jul 09, 2015 (Marketwired via COMTEX) — Copper Lake Resources Ltd. (CPL)(frankfurt:W0I) (“Copper Lake” or the “Company”) is pleased to report several significant target areas have been identified by geophysical inversion modelling of induced polarisation and resistivity (“IP-Res”) data as well as by reprocessing of airborne VTEM data collected in 2007 on its Marshall Lake property (the “Property”). The Property is located 120 km north of Geraldton, Ontario via a good all weather gravel road from Hwy 11/Trans Canada Hwy, and 22 km north of the main CNR rail line. The modelled targets lie at depth, below or adjacent to existing near surface copper, silver and gold mineralization.

In late 2013 Caracle Creek International Consulting Inc. (“Caracle Creek”) was commissioned to complete geophysical IP inversion modelling within the RM Zone of the Property. Following their recommendations the Company drilled one of these Caracle Creek shallow targets with drill holes RMZ 13-40 and RMZ 13-41. Both drill holes intersected significant grades and widths of stringer, feeder style copper, silver and gold mineralization (see below and NR 13-09 dated April 25, 2013).

Based on the success of those results, in August 2014 the Company then commissioned Caracle Creek, with assistance from Geotech Ltd. (“Geotech”), to extend the modelling, focusing on untested targets within the broader Marshall Lake Property, an area of approximately 8 km by 10 km. This geophysical project was undertaken using updated processing routines employed by Geotech on VTEM geophysical data, as well as by performing inversion modelling on the IP-Res data to spatially estimate conductive and chargeable sources at depth, by reviewing and reprocessing data that has been collected on targeted areas of the Property dating back to 2006.

Additionally, ORIX Geoscience Inc. (“Orix”) of Toronto was commissioned to digitize and interpret a large volume of existing historical geological, geochemical, trenching and drilling data. This work also incorporated the results of geological mapping and differential GPS surveys conducted by the Company in September 2014 in the vicinity of known Volcanogenic Massive Sulphide “VMS” occurrences. With assistance from the Company’s QP, the work resulted in a new 1:50,000 scale interpretive geological map of the Property.

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