Featured Company /
Glacier Lake Resources Inc.
In geology, it takes specific conditions to form sediment-hosted copper and silver deposits. These are complicated conditions that normally never even cross the mind of an average person, but can certainly be embraced by geologists in the mining community due to their somewhat rare, yet prolific nature to host large, valuable mineral resources.
Rather than being concerned about understanding what hematite stable oxidized source rock is or its role in a sediment-hosted copper deposit, it’s more pertinent that mining investors understand that the Copperbelt in Zambia is this type of deposit and has yielded more than 1 billion metric tonnes of copper at 2.7%.
These deposits are the targets of some of the world’s major miners, including BHP Billiton (NYSE:BHP) and Poland’s KGHM International. It’s also the type of deposit at the core of the Silver Vista silver-copper property in north-central British Columbia, Canada. In May, Glacier Lake Resources Inc. (TSX-Venture:GLI) completed the transaction involving acquiring 100% ownership of the Silver Vista project, less a net smelter return royalty to the previous owners.
The Silver Vista property comprises over 246 square kilometres (24,639 hectares) and covers multiple mineral showings and geochemical anomalies with the main showing area, dubbed the “MR” prospect, located approximately 55 kilometres northeast of the town of Smithers.
Thanks to ongoing forestry and mining exploration work in the region, infrastructure is already in place, including roads, skilled labor, electricity, railway and the deep-water port at Prince Rupert.
The massive project was discovered less than 30 years ago and has undergone minimal drilling of only 1,252 metres. Still, seven out of 14 drill holes returned significant silver-copper mineralization at widths up to 61 meters. One of the drill holes intersected 2.84 metres averaging 195.7 g/t silver and 3.65% copper at a depth of 192.62 metres. Glacier Lake intends to more than double the amount of previous drilling with a 2,590-metre drill program planned for this summer.
The property has undergone modern exploration techniques to evaluate potential resources. Amarc Resources and project partner Multiple Metals conducted extensive geochemistry work across 2009-2013, with soil geochemical anomalies (namely silver, copper, zinc and gold) discovered that typically are indicative of large mineralized systems.
This research has helped define a NW-SE trending silver anomaly characterized by values exceeding 1.5 g/t silver. The anomaly is approximately 1,200 meters long and up to 300 meters wide and is open to the southeast. A large geochemical survey comprised of over 8,300 samples from across the property identified multiple targets with grades up to 93.2 g/t silver, 1,084 g/t copper and 6.33 g/t gold.
In March 2017 a National Instrument 43-101 compliant Versatile Time-Domain Electromagnetic (VTEM) geophysical survey was completed. In VTEM studies, colored areas are used to show anomalies, with purple areas representing strong conductivity (read as “presence of metals”). In the case of Silver Vista, SE-1 VTEM showed an area nicknamed the “purple monster” due to its sheer size.
Collectively, the information to date suggests that the Silver Vista property has excellent potential to host bulk tonnage silver and copper deposits making it ideal for open pit mining operations.
Those that look for a pattern of successes in leadership should take note that Saf Dhillon is President and CEO at Glacier Lake. Dhillon is known throughout the natural resource industry for a variety of accomplishments, including developing U.S. Geothermal Inc. (NYSE MKT:HTM) (TSX: GTH) into the positive cash flow independent power producer, that it is today. Dhillon also has a close working relationship with consultants Daniel Kunz & Associates. Kunz has a C.V. chock full of successes worldwide in the resource sector, including working with Dhillon and Glacier Lake VP Exploration Pete Parsley on acquiring, proving resources and selling or optioning several natural resource companies. In short, Glacier Lake leadership and advisors have a decades-long track record of building shareholder value.
With $500,000 recently raised via private placement, Glacier Lake has the capital on hand to move forward once again with proving-out a property. Investors will surely be looking for any details on the sediment-hosted copper and silver deposit that will make the days of a $3.0 million market cap a thing of the past for GLI.
Corporate Snapshot:
Glacier Lake Resources Inc.
Stock Symbol:
CA
Stock Exchange:
TSX-Venture
Sector:
Natural Resources
52 Week High:
$0.1890
52 Week Low:
$0.0500
Current Stock Quote / Chart / News: Click here
Information as of
June 07, 2017
In geology, it takes specific conditions to form sediment-hosted copper and silver deposits. These are complicated conditions that normally never even cross the mind of an average person, but can certainly be embraced by geologists in the mining community due to their somewhat rare, yet prolific nature to host large, valuable mineral resources.
Rather than being concerned about understanding what hematite stable oxidized source rock is or its role in a sediment-hosted copper deposit, it’s more pertinent that mining investors understand that the Copperbelt in Zambia is this type of deposit and has yielded more than 1 billion metric tonnes of copper at 2.7%.
These deposits are the targets of some of the world’s major miners, including BHP Billiton (NYSE:BHP) and Poland’s KGHM International. It’s also the type of deposit at the core of the Silver Vista silver-copper property in north-central British Columbia, Canada. In May, Glacier Lake Resources Inc. (TSX-Venture:GLI) completed the transaction involving acquiring 100% ownership of the Silver Vista project, less a net smelter return royalty to the previous owners.
The Silver Vista property comprises over 246 square kilometres (24,639 hectares) and covers multiple mineral showings and geochemical anomalies with the main showing area, dubbed the “MR” prospect, located approximately 55 kilometres northeast of the town of Smithers.
Thanks to ongoing forestry and mining exploration work in the region, infrastructure is already in place, including roads, skilled labor, electricity, railway and the deep-water port at Prince Rupert.
The massive project was discovered less than 30 years ago and has undergone minimal drilling of only 1,252 metres. Still, seven out of 14 drill holes returned significant silver-copper mineralization at widths up to 61 meters. One of the drill holes intersected 2.84 metres averaging 195.7 g/t silver and 3.65% copper at a depth of 192.62 metres. Glacier Lake intends to more than double the amount of previous drilling with a 2,590-metre drill program planned for this summer.
The property has undergone modern exploration techniques to evaluate potential resources. Amarc Resources and project partner Multiple Metals conducted extensive geochemistry work across 2009-2013, with soil geochemical anomalies (namely silver, copper, zinc and gold) discovered that typically are indicative of large mineralized systems.
This research has helped define a NW-SE trending silver anomaly characterized by values exceeding 1.5 g/t silver. The anomaly is approximately 1,200 meters long and up to 300 meters wide and is open to the southeast. A large geochemical survey comprised of over 8,300 samples from across the property identified multiple targets with grades up to 93.2 g/t silver, 1,084 g/t copper and 6.33 g/t gold.
In March 2017 a National Instrument 43-101 compliant Versatile Time-Domain Electromagnetic (VTEM) geophysical survey was completed. In VTEM studies, colored areas are used to show anomalies, with purple areas representing strong conductivity (read as “presence of metals”). In the case of Silver Vista, SE-1 VTEM showed an area nicknamed the “purple monster” due to its sheer size.
Collectively, the information to date suggests that the Silver Vista property has excellent potential to host bulk tonnage silver and copper deposits making it ideal for open pit mining operations.
Those that look for a pattern of successes in leadership should take note that Saf Dhillon is President and CEO at Glacier Lake. Dhillon is known throughout the natural resource industry for a variety of accomplishments, including developing U.S. Geothermal Inc. (NYSE MKT:HTM) (TSX: GTH) into the positive cash flow independent power producer, that it is today. Dhillon also has a close working relationship with consultants Daniel Kunz & Associates. Kunz has a C.V. chock full of successes worldwide in the resource sector, including working with Dhillon and Glacier Lake VP Exploration Pete Parsley on acquiring, proving resources and selling or optioning several natural resource companies. In short, Glacier Lake leadership and advisors have a decades-long track record of building shareholder value.
With $500,000 recently raised via private placement, Glacier Lake has the capital on hand to move forward once again with proving-out a property. Investors will surely be looking for any details on the sediment-hosted copper and silver deposit that will make the days of a $3.0 million market cap a thing of the past for GLI.
Forward Looking Statements
This report includes forward-looking statements that reflect current expectations about its future results, performance, prospects and opportunities. Glacier Lake Resources Inc. has tried to identify these forward-looking statements by using words and phrases such as "may," "will," "expects," "anticipates," "believes," "intends," "estimates," "plan," "should," "typical," "preliminary," "we are confident" or similar expressions. These forward-looking statements are based on information currently available and are subject to a number of risks, uncertainties and other factors that could cause Glacier Lake Resources Inc.'s actual results, performance, prospects or opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. These risks, uncertainties and other factors include, without limitation, the Company's growth expectations and ongoing funding requirements, and specifically, the Company's growth prospects with scalable customers, and those outlined above. Other risks include the Company's limited operating history, the Company's history of operating losses, consumers' acceptance, the Company's use of licensed technologies, risk of increased competition, the potential need for additional financing, the terms and conditions of any financing that is consummated, the limited trading market for the Company's securities, the possible volatility of the Company's stock price, the concentration of ownership, and the potential fluctuation in the Company's operating results.
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