Goldstrike Resources Ltd. (TSX-V:GSR) (OTC
PINK:APRAF) (FRANKFURT:KCG1) is pleased to report that a discovery
drill hole (DDLS-17-09) has intersected a broad zone of near
surface gold mineralization at the Monte Carlo zone on the Lucky
Strike property grading 5.36 grams per tonne gold over 22 metres,
including 18.79 grams per tonne gold over 5.72 metres (Table 1).
Goldstrike successfully completed 1,032 m of
diamond drilling in the nine shallow exploratory holes that
constituted the 2017 drill program (Map 1 – Drill Plan).
Assay results from hole DDLS-17-08 are still pending, but all other
holes intersected gold mineralization over a 200 m strike length.
The mineralized zone remains open at depth and in all
directions. This drill program utilized HTW large diameter
size core to optimize recovery due to the brittle and highly
oxidized nature of the near surface gold mineralization.
Additional maps and sections can be viewed at: Lucky Strike
Project.
Gold mineralization comes to surface in a series
of silicified and heavily oxidized zones that have a strong
geochemical association with silver, bismuth, tellurium, mercury,
antimony, molybdenum and copper.
Drilling at Lucky Strike in 2017 was designed to
test a 450 by 1,450 metre coincident geochemical gold anomaly and
geophysical target located at the Monte Carlo zone. The Monte
Carlo zone is only one of five large gold anomalies along a 10
kilometre trend on the property, and only the Monte Carlo zone has
been drill tested to date. These gold anomalies have been defined
by a combination of soil geochemistry, mechanized trenching and
prospecting and are coincident with ground and airborne geophysical
anomalies. The four other large gold-in-soil anomalies are
the Belmont zone, measuring 1,500 by 800 meters, the Samson zone,
measuring 600 by 300 meters, the Boss zone, measuring 1,000 by
1,000 meters, and the Maverick zone, measuring 200 by 150
meters. Collectively, this gold mineralized trend is
coincident with a magnetic geophysical anomaly which is believed by
the Company’s geological team to represent a regional scale shear
zone, providing for additional strong discovery potential on the
Lucky Strike property. The Lucky Strike property covers over 150
square kilometers and remains largely unexplored.
Link to past Lucky Strike news Release: October
12th New Release.
In August of 2017 Goldstrike received its Class
3 advanced exploration permit for the Lucky Strike project.
This permit will accommodate advanced exploration and drilling
programs in the years to come. The company is currently planning
for an extensive exploration and drilling program in 2018
Table 1 – Selected diamond drill
intervals from the 2017 Lucky Strike drill
program.
Drill Hole ID |
From (m) |
To (m) |
Interval Length (m)1 |
Au (g/t) |
DDLS-17-092 |
13 |
35 |
22 |
5.36 |
INCLUDING |
|
28 |
33.72 |
5.72 |
18.79 |
|
|
|
|
|
Drill Hole ID |
From (m) |
To (m) |
Interval Length (m)1 |
Au (g/t) |
DDLS-17-07 |
18 |
23 |
5 |
1.30 |
|
|
|
|
|
Drill Hole ID |
From (m) |
To (m) |
Interval Length (m)1 |
Au (g/t) |
DDLS-17-02 |
18 |
27.55 |
9.55 |
1.33 |
|
|
|
|
|
Drill Hole ID |
From (m) |
To (m) |
Interval Length (m)1 |
Au (g/t) |
DDLS-17-06 |
26 |
28.15 |
2.15 |
5.12 |
|
|
|
|
|
Drill Hole ID |
From (m) |
To (m) |
Interval Length (m)1 |
Au (g/t) |
DDLS-17-05 |
25.75 |
27.22 |
1.47 |
1.06 |
|
|
|
|
|
Drill Hole ID |
From (m) |
To (m) |
Interval Length (m)1 |
Au (g/t) |
DDLS-17-033 |
19.2 |
30 |
10.8 |
0.61 |
|
|
|
|
|
Drill Hole ID |
From (m) |
To (m) |
Interval Length (m)1 |
Au (g/t) |
DDLS-17-012 |
18.29 |
21.86 |
3.57 |
1.75 |
|
|
|
|
|
Drill Hole ID |
From (m) |
To (m) |
Interval Length (m)1 |
Au (g/t) |
DDLS-17-04 |
113.8 |
114.07 |
0.27 |
0.51 |
1True thickness of mineralized zone unknown2Drill
recovery locally below 50% in some samples3Drill recovery locally
below 30% in some samples
STATEMENTS
Message from Terry King, President and CEO:
“The Lucky Strike property is a unique and
attractive asset with excellent infrastructure including an
airstrip. The property is 100% owned without the burden of any
underlying royalties or property payments, and is strategically
located along the planned haul road to Goldcorp’s Coffee Creek gold
deposit. The results to date demonstrate that the project is one of
the most important new discoveries in the White Gold Camp in 2017
and has the makings to be a flagship standalone project. We look
forward to optimizing the project’s value for our shareholders. The
2018 exploration season is shaping up to be the largest drill
campaigns to date on both Lucky Strike and Plateau properties. We
would like to take this opportunity to thank the Yukon government
once again for all of its support over the years that helped bring
the Lucky Strike property from an idea to one of the most
significant new discoveries in the White Gold District. WORKING
TOGETHER WE SUCCEED.”
Chief Geologist Stefan Kruse, Ph.D., P.Geo
states:
“The results from the 2017 program exceeded the
goals set by the geologic team. The inaugural drill program on the
Monte Carlo Zone clearly demonstrated the tremendous potential of
the entire Lucky Strike Property. We look forward to aggressively
drilling the Monto Carlo zone in 2018 to expand on the
mineralization intersected and advancing the other four untested
gold zones along the ten kilometre long Lucky Strike corridor. This
corridor and the remainder of the Lucky Strike property
demonstrates strong untapped potential”
Goldstrike and its partner Newmont look forward
to releasing the exploration and drill results from the 2017
exploration on Plateau Property in the near future, once all
results have been received, compiled and interpreted.
Goldstrike has been invited to display drill core from its 2017
program and sections of drill core will be on display at the Yukon
Geoscience Forum in Whitehorse on November 20, 2017.
OTHER
Sample analysis and assaying for all of
Goldstrike's projects have been conducted by Bureau Veritas Mineral
Laboratories Canada (formerly Acme Analytical Laboratories Ltd) in
Vancouver, BC, which is ISO 9001 accredited laboratory. Rock
and drill core samples are crushed, split and pulverized to 250 g
pulp, 200 mesh. Analysis includes AQ200 modified 1:1:1 aqua
regia (HCl-HNO3-H20) digestion and 36-element ICP-MS which includes
semi-quantitative gold with a lower detection limit of 0.5 ppb Au
and an upper detection limit of 100 ppm Au. In addition gold
content is analysed using the ICP-ES FA350-Au fire assay procedure.
Over-limit samples are analysed using the FA530-Au fire assay with
gravimetric finish and FA652-Au metallic screen fire assay
procedures. Rigorous procedures are in place regarding sample
collection, chain of custody and data entry. Certified QA/QC
assay standards samples and blanks are routinely inserted into the
sample stream to ensure integrity of the assay process.
Stefan Kruse, Ph.D., P.Geo., Chief Geologist, is
a qualified person as defined by National Instrument 43-101 for
Goldstrike's Yukon exploration projects, and supervised the
preparation of, and has reviewed and approved, the technical
information in this release.
Please visit the website at
http://www.goldstrikeresources.com to see
new maps and drill sections under what's new on the home
page.
ON BEHALF OF THE BOARD
Terrence E. King
President and Chief Executive Officer
For new information from the Company’s programs,
please visit Goldstrike’s website at GoldstrikeResources.com. For
further information follow the Goldstrike’s tweets at
Twitter.com/GoldstrikeRes or contact Jeff Stuart of King James
Capital Corporation, handling Investor Relations for the
Goldstrike, by telephone at (604) 210-2150 or by email at
jstuart@kingjamescapital.com.
GOLDSTRIKE RESOURCES LTD. 1300
- 1111 West Georgia Street Vancouver, British Columbia Canada, V6E
4M3 Telephone: 604 681 1820 Facsimile: 604 681 1864 IR: 604 210
2150 GoldStrikeResources.com Twitter.com/GoldstrikeRes
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Forward-Looking Statements
Statements contained in this news release that
are not historical facts are "forward-looking information" or
"forward-looking statements" (collectively, "Forward-Looking
Information") within the meaning of applicable Canadian securities
legislation and the United States Private Securities Litigation
Reform Act of 1995. Forward-Looking Information includes, but is
not limited to, disclosure regarding possible events, conditions or
financial performance that is based on assumptions about future
economic conditions and courses of action; expectations regarding
future exploration and drilling programs and receipt of related
permitting; and the plans for completion of the contemplated
transactions with Newmont as set out above. In certain cases,
Forward-Looking Information can be identified by the use of words
and phrases such as "anticipates", "expects", "understanding", "has
agreed to" or variations of such words and phrases or statements
that certain actions, events or results "would", "occur" or "be
achieved". Although Goldstrike has attempted to identify
important factors that could affect Goldstrike and may cause actual
actions, events or results to differ materially from those
described in Forward-Looking Information, there may be other
factors that cause actions, events or results not to be as
anticipated, estimated or intended. In making the
forward-looking statements in this news release, if any, Goldstrike
has applied several material assumptions, including the assumption
that general business and economic conditions will not change in a
materially adverse manner. There can be no assurance that
Forward-Looking Information will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should
not place undue reliance on Forward-Looking Information.
Except as required by law, Goldstrike does not assume any
obligation to release publicly any revisions to Forward-Looking
Information contained in this news release to reflect events or
circumstances after the date hereof or to reflect the occurrence of
unanticipated events.
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