HALIFAX, Nova Scotia--(BUSINESS WIRE)--Mountain Lake Resources Inc. (TSX-V: MOA)(Pink Sheets: MLKRF)(“Mountain Lake” or the “Company”) reports that it has filed a Project Registration for its Glover Island Property with the Newfoundland and Labrador Departments of Natural Resources and Environment & Conservation. The Glover Island Property is located in a Public Reserve that was established in 2002 and the principal environmental sensitivity involves Pine Marten populations. Two exploration campaigns have taken place on the Property since the establishment of the reserve, in 2003 and 2007-08.
The document has now been filed and will be available on the Department of Environment & Conservation website, visit: http://www.env.gov.nl.ca/env/env_assessment/projects/index.html. The public can provide comments on the proposal by a written submission to the minister during a 35 day review period. The registration outlines the proposed project and describes how it will affect the bio-physical and socio-economic environment. Proponents must demonstrate in the registration document how the best practicable technology and methods will be used to minimize harmful effects. The Department of the Environment & Conservation is expected to render its decision as to whether the proposed project can proceed as outlined in the Project Registration in approximately 45 days.
The Department of Environment & Conservation has increased its oversight of exploration projects in 2011 and the Glover Island project is one of several project registrations that have been filed this year. Mountain Lake has acquired several rubber tracked vehicles, and has contracted a unique, light weight, rubber-tracked drill for its exploration activities to minimize any impact on the ecosystem.
“We have initiated discussions with both Provincial and Federal conservation specialists who can provide hands on advice throughout all future exploration programs to ensure the preservation of the Pine Marten habitat, should they be encountered on the Glover Island Property,” said Gary Woods, President and CEO of Mountain Lake.
About the Glover Island Property:
Mountain Lake acquired a 100% interest in the Property in October 2010. It is located on the south-central portion of Glover Island and consists of two mineral licenses and one mining lease covering a total of 5,100 hectares. The Property is host to several significant gold prospects over an 11 kilometre strike length. Significant drill intercepts include 16.7 metres (m) of 5.31 grams per tonne (g/t) gold (Au) at the LPSE Prospect, 10 m of 4.93 g/t Au at Kettle Pond South, and 8.0 m of 10.18 g/t Au at the Lucky Smoke Deposit. Historical resource estimates (V.A. French, MSc, PGeo, 1994) have been calculated for three areas of the Property: Kettle Pond South - 450,000 tonnes at 2.3 g/t Au for 33,276 troy ounces (oz); Lunch Pond South Main Zone - 2,730,000 tonnes at 2.1 g/t Au for 184,321 oz; and Lunch Pond South West Zone - 900,000 tonnes at 1.6 g/t Au for 46,297 oz.
Cautionary Statement: A qualified person has not done sufficient work to classify the historical estimate above as current mineral resources. Mountain Lake is not treating the historical estimate as current mineral resources and the historical estimate should not be relied upon.
About Mountain Lake Resources Inc.
Mountain Lake Resources Inc. (TSX-V: MOA) is a diversified junior exploration company, whose corporate strategy is to build shareholder value through the exploration and development of economically viable mineral properties all located on the pro-mining island of Newfoundland. Mountain Lake’s current projects include: a 50% interest in the Valentine Lake gold property (drilling this quarter) under the joint venture with Marathon Gold Corp.; a 100% interest in the Glover Island gold exploration property; an option to earn a 100% interest in the Little River gold-antimony exploration property (drilling in progress); a 100% interest in the Bobby’s Pond base metals property. For more information visit: www.mountain-lake.com
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