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Mayo Lake Minerals (CSE:MLKM), focused on the development of its 5 precious metal projects in the Yukon, is one of the latest new listings on the Canadian Securities Exchange.

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Mayo Lake Minerals (CSE:MLKM), focused on the development of its 5 precious metal projects in the Yukon, is one of the latest new listings on the Canadian Securities Exchange. The company has, subject to certain net smelter royalties, a 100% interest in 1139 claims, totalling 232 square kilometres, in the Mayo Mining District of the Yukon Territory. Its five claim groups all lie within the Tombstone Plutonic Belt of the Tintina Gold Province with four claim groups focused on gold and one on silver.

Additional Information:

Company: Mayo Lake Minerals Inc.
Website: http://mayolakeminerals.com/
Stock Symbol: CSE:MLKM
Date Published: May 6, 2022
Transcript: Available

Video Transcript:

Mayo Lake Minerals (CSE:MLKM), focused on the development of its 5 precious metal projects in the Yukon, is one of the latest new listings on the Canadian Securities Exchange, trading under the symbol “MLKM”.

The company has, subject to certain net smelter royalties, a 100% interest in 1139 claims, totalling 232 square kilometres, in the Mayo Mining District of the Yukon Territory.

Its five claim groups all lie within the Tombstone Plutonic Belt of the Tintina Gold Province with four claim groups focused on gold and one on silver.

The Yukon’s Keno Hill Camp was Canada's second largest primary silver producer and one of the richest silver-lead-zinc vein deposits ever mined in the world.

The Keno Hill Camp produced a total of 214 million ounces of silver between 1913 and 1990 with the Elsa Mine being the second largest producer at 30 million ounces, which at today’s prices is approximately US$780 million.

The Carlin West area of its Carlin-Roop silver project is adjacent to the southern portion of Metallic Minerals' Keno property.

Thirteen grab samples were collected during the 2021 prospecting and soil sampling program at Carlin West.

The silver content of seven rock samples ranged from 72 grams per tonne silver equivalent to 4,311 grams per tonne silver equivalent (3,994 g/t silver, 3.28 g/t gold and 2.01% lead) from a sample located at the northern end of a very strong silver in soil anomaly.

The full results are shown in this table.

Tyrell Sutherland, VP Exploration, stated: "The assays from the grab samples at Carlin West confirm our interpretation that this area contains high-grade silver common to the heart of the Keno Hill Silver Camp. Our detailed soil sampling and prospecting has defined at least 4 anomalous silver zones at Carlin West. We look forward to receiving assay results from the roughly 1500m of diamond drilling planned for June at Carlin West, with a focus on the drilling of the Priority Anomaly, associated with the high-grade grab sample of 4,311g Ag Eq/t. Access for the drill will be by ground, via a trail off a secondary road from Keno. This will facilitate flexibility in drill targeting, which was just not available with the helicopter supported scout drilling that we completed in 2020 and 2021."

The shares which began trading on May 5th, are currently trading at $0.50, with 90.8 million shares outstanding.

For more information, please visit the company’s website www.MayoLakeMinerals.com, contact Vern Rampton, President and CEO, at 613-836-2594 or by email at VRampton@MayoLakeMinerals.com.