Glacier Lake completes first pass 2017 exploration program at Silver Vista

An aerial view of the Silver Vista property near Smithers, B.C. — Photo courtesy Glacier Lake Resources Inc.

VANCOUVER, British Columbia, Sept. 07, 2017 (GLOBE NEWSWIRE) -- Glacier Lake Resources Inc. (TSXV:GLI) (“Glacier” or the “Company”) has completed the 2017 first pass exploration program on the southern half of its Silver Vista property near Smithers, British Columbia. The multiple objectives of the first pass program were to verify access into the various parts of the property, locate the main showings and prospect favourable areas identified by Amarc Resources Ltd., during its 2012 through 2014 exploration programs.

Access has proven to be no major issue through the southern part of the property, with several newer logging roads increasing access across the property. The main showing area was accessed, examined in detail and sampled, minimal repair is required to the road accessing the showing area. Initial prospecting of the southern property and the Amarc soil anomalies resulted in the collection of 28 float, chip and grab samples. The samples have been delivered to the ALS Minerals Laboratory in North Vancouver, BC for analysis.

In addition, Glacier Lake added three claims totaling 1,238.7 hectares to the southern claim block to cover a zone of strongly altered sub-rounded to angular boulders discovered during the prospecting. Samples from this area have been submitted for analysis.

The main “MR” showing area is dominated a 12 metre by 20 metre kill zone, devoid of ground cover vegetation. The MR, the focus of the upcoming drill program later this fall, is a clastic sediment-hosted, fine grained, disseminated copper silver zone. Historic exploration includes soil geochemistry, trenching and diamond drilling in an area of limited outcrop exposure:

2009 and 2012 soil geochemistry outlined a silver-in-soil anomaly approximately 1.5 by 2.0 kilometers around the MR prospect area.

Six 1991 excavator trenches (highlighted an area 100 metres long by 17 metres wide, with three of the trenches intersecting mineralized bedrock: trench 2 – 10.5 metres at 0.22% Cu and 38 gpt Ag, trench 3 – 16.5 metres at 0.53% Cu and 74 gpt Ag and trench 4 – 15 metres at 0.53% Cu and 28 gpt Ag (reference - B.C. Assessment report 21609).

Drilling in 1991 and 1992 consisted of fourteen drill holes totaling 1,252.5 metres and identified a semi-continuous zone 300 metres long by 50 metres wide by 3 to 150 metres deep with two of the holes ending in mineralization. Key intercepts include: MR91-01 – 32.87 metres at 0.19% Cu and 34.8 gpt Ag, MR91-03 – 61.91 metres at 0.11% Cu and 40.5 gpt Ag, MR91-04 – 25.9 metres at 0.08% Cu and 62.6 gpt Ag and MR92-02 – 36.58 metres at 0.49% Cu and 26.8 gpt Ag, including 2.84 metres of 3.65% Cu and 195.7 gpt Ag (reference - B.C. Assessment report 22462). MR92-02 represents the only deep hole to test this zone, and is a primary drill target for follow-up.

Three other anomalous zones were identified by Amarc during its exploration programs. Glacier Lake Resources Inc. has yet to verify the historical soil sampling, trenching and drilling. The recently completed surface program and a drilling program planned for later in 2017 are directed at verifying the historical data. Further details can be found in the recently completed 43-101 report on the property located under the Company’s SEDAR profile.

The Company is also planning a first pass surface program on the northern half of the property to commence mid-September to investigate anomalous soil geochemistry anomalies. This northwest anomalous gold/silver-in-soil anomaly area has returned values ranging from background to 6,334 parts per billion gold (or 6.33 g/t) and background to 93.2 g/t silver, measuring 1,800 by 800 meters known as the Golden Vista target.