December 3, 2020 – Vancouver, British Columbia – Lake Winn Resources Corp. (“Lake Winn” or the “Company”) (TSXV: LWR) (OTC: EQTXF) is pleased to announce that it has received the final data from the drone-based airborne magnetic survey regarding the Cloud Project in the Flin Flon gold belt, Manitoba.
The survey was flown by Stratus Aeronautics Inc. based out of Burnaby, BC. The survey was conducted at 50m line spacings on a north-south grid. The work is designed to assist in the understanding of the geology of the Cloud Project.
The magnetic data has immediately shown to map the mafic meta-volcanics that host the 320m by 50m Bachnick gold zone. It also demonstrates that this geology continues to the west under cover for an additional 1km. This unit, a “greenstone,” is thought to host the gold mineralization and will be the prime target for drill testing, which commences next week. The parallel and adjacent IP and Resistivity anomalies will also be tested by drilling. Figure 1 depicts this data.
Interpretation of the magnetic data will continue with a focus on mapping structures.
Drone Based Magnetic Survey Guides Drill Planning
Naosap Lake
Historic drill holes – Bachnick Gold Zone – 40nT Contours
Legend
- IP anomaly
- Resistivity High
Zoom-in area above within the blue box. Drone-based magnetometer survey image of total magnetic intensity is shown on the left. Zooming into the Bachnick gold zone on the right. The host mafic volcanics are mapped by the survey and they continue for a kilometer west under cover.
Figure 1: Airborne total magnetic intensity image of the Cloud Project (Kississing Lake Road).
Qualified Person
The Qualified Person for this news release is Buddy Doyle, AUSIMM, a geologist with over 30 years’ experience in mineral exploration, discovery, and evaluation. Mr. Doyle is a Qualified Person under the provisions of National Instrument 43-101.
About Lake Winn
Lake Winn Resources Corp. is a Vancouver-based gold company listed on the TSX Venture Exchange (Symbol: LWR), focusing on exploration and development of gold projects in Canada. The Company’s flagship property, the Cloud Project, is located in the province of Manitoba, in the Flin Flon Gold Belt approximately 40 kilometers northeast of the town of Flin-Flon. Access to the property is provided by Manitoba Highway 10 to the all-weather Kississing Lake Road. The Company is currently preparing for diamond drilling.
On Behalf of the Board of Directors of Lake Winn Resources Corp.
Patrick Power
President & CEO
+1 (604) 218-8772
https://www.lakewinnresources.com
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Cautionary Statement Regarding “Forward-Looking” Information
Certain statements contained in this press release may constitute forward-looking statements. Such forward-looking statements are based upon the Company’s reasonable expectations at the date hereof, which are subject to change depending on economic, political and competitive circumstances and contingencies. Readers are cautioned that such forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause the actual outcomes and estimates to be materially different from those anticipated. Risks, uncertainties and other factors that could cause the Company’s plans or prospects to change include changes or disruptions in the securities markets, and legislative, political or economic developments. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein in the United States. Such securities have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws, and, accordingly, may not be offered or sold within the United States, or to or for the account or benefit of persons in the United States or “U.S. Persons,” as defined in Regulation S under the U.S. Securities Act, unless registered or exempt from registration.
