Copper Lake Resources holds a 69.79% interest in the 7,728 hectare Norton Lake property. The Norton Lake property is located about 50 km northeast of Fort Hope, Ontario and about 400 km northeast of Thunder Bay, Ontario, Canada.
NI 43-101 Report
Data below is an extract from the Norton Lake N43-101 technical report dated October, 2023.
View the full 2023 Report (please load into your browser due to the size of the file)
https://copperlakeresources.com/wp-content/uploads/2024/11/Caracle_Copper-Lake-NI43-101-TR-Oct2_2023-Final.pdf
| Deposit Mineral Resources Estimate: reported at 0.3% Ni cut-off | ||||||
| Category | Tonnes | Ni Grade (%) | Cu Grade (%) | Co Grade (%) | Pd+Pt Grade (g/t) | |
| Measured | 861,000 | 0.66 | 0.62 | 0.0326 | 0.46 + 0.17 | |
| Indicated | 934,000 | 0.77 | 0.75 | 0.0351 | 0.56 + 0.18 | |
| TOTAL | 1,795,000 | 0.72 | 0.69 | 0.0339 | 0.52 + 0.17 | |
| Inferred | 562,000 | 0.67 | 0.63 | 0.0311 |
0.50 + 0.14 |
|
Values in the Mineral Resource Statement have been rounded to 2 and 3 significant figures as to reflect the uncertainty of the estimation.
Highlights of the Mineral Resource Estimate on the Norton Lake Deposit include:
• Open pit and underground Measured + Indicated Resources of 1,795,000 tonnes at an average grade of 0.72% Ni, 0.69% Cu, 339 ppm Co, 0.52 g/t Pd, 0.17 g/t Pt and containing 28.3Mlbs of nickel and 27.3Mlbs of cooper.
• Open pit and underground Measured Resources of 861,000 tonnes at an average grade of 0.66% Ni, 0.62% Cu, 326 ppm Co, 0.46 g/t Pd, 0.17 g/t Pt and containing 12.5Mlbs of nickel and 11.8Mlbs of copper.
• Open pit and underground Indicated Resources of 934,000 tonnes at an average grade of 0.77% Ni, 0.75% Cu, 351 ppm Co, 0.56 g/t Pd, 0.18 g/t Pt and containing 15.8Mlbs of nickel and 15.5Mlbs of copper.
• Open pit and underground Inferred Resources of 562,000 tonnes at an average grade of 0.67% Ni, 0.63% Cu, 310 ppm Co, 0.50 g/t Pd, 0.14 g/t Pt and containing 8.2Mlbs of nickel and 7.8Mlbs of copper.
Mineral Resources are not mineral reserves as they do not have demonstrated economic viability. The estimate is categorized as Measured, Indicated, and Inferred mineral resources based on data density, geological and grade continuity, search ellipse criteria, drill hole density and specific interpolation parameters,
Drilling and Assays
3D conceptual modelling of the Norton Lake nickel-copper massive sulphide deposit in conjunction with Copper Lake sampling of historic drill core, identified a separate sulphide lens. This lens is situated near surface and adjacent to the Norton Lake deposit, approximately 15 metres below surface. Copper Lake has not completed any drilling on the new sulphide lens.