Luckystrike Resources Mobilizes for 2019 Drill Program
May 13 2019 - 6:45AM
Luckystrike Resources Ltd. (LUKY.V) is pleased
to announce mobilization in preparation for its 2019
drill program including siting multiple drill collars on its
100%-owned Lucky Strike Property, located in the heart of the
White Gold District, Yukon. The program will focus
on expanding on discovery hole DDLS-18-06 which
intersected
4.55 g/t Au over 7.6m within
a newly discovered, unoxidized lower zone at Monte
Carlo, that is comprised of a broad gold-sulphide rich
unit. This drill hole was the only one to
test the IP anomaly and confirms the lower zone directly
corresponds to the large, subsurface, strong IP
chargeability anomaly that is defined for 1.8 kilometres and
remains open in all directions. Drilling is planned
to test an 800-metre section of
this buried, multi-line chargeability anomaly, providing very
strong potential to quickly expand the scale and geometry of Monte
Carlo gold zone both along strike and to depth.
Luckystrike Highlights
- Diamond drill hole DDLS-18-06 intersected multiple gold-bearing
zones at the Monte Carlo zone, returning 1.16 grams
per tonne gold (g/t Au) over 8.3 meters in the upper
zone and 4.55 g/t Au over 7.6m in a
newly discovered lower zone comprised of a broad gold-sulphide
rich unit (see November 13, 2018 news release).
- This drill hole confirms the lower zone directly corresponds to
a large, subsurface, strong IP chargeability anomaly that is
defined for 1.8 kilometres and remains open in all directions.
- The lower zone is considered highly significant, as drill hole
DDLS-18-06 represents the only one to have targeted and confirmed
the presence of a broad zone of high-grade gold mineralization
within the IP anomaly.
- 2017 drilling in the upper oxidized zone returned 5.36
g/t Au over 22m (see November 20, 2017 news release).
- Trenching at Monte Carlo returned 0.94 g/t Au over 30m
including 1.14 g/t Au over 24m
- The 2018 trenching has also significantly
expanded the strike length of known gold mineralization along the
Monte Carlo trend from 400m to 560m, and the zone remains open to
the northwest and southeast. Soil sampling, rock grabs, and
IP indicate a larger footprint of 1800m x 450m on Monte
Carlo, part of the 10 km Lucky Strike Corridor.
Message from William (Bill) Chornobay,
President and CEO:
“With the preparations for summer drill program now mobilized,
we look forward to receiving the drill results from the newly
discovered gold zone. Drilling will be focused on expanding on the
2018 discovery hole DDLS-18-06 to trace the zone both along strike
and to depth, which remains open in all directions. With continued
drilling success the Luckystrike Property is poised to quickly
evolve into a significant gold discovery."
Other
Stephen Roach, P. Geo., Chief Geologist, is a
qualified person as defined by National Instrument 43-101, for
Luckystrike's Yukon exploration projects and had supervised the
preparation of, and has reviewed and approved, the technical
information in this release.
ON BEHALF OF THE BOARD William
Chornobay President and Chief Executive Officer
For new information from the Company's programs,
please visit Luckystrike's website at LuckystrikeRes.com or contact
Jeff Stuart of King James Capital Corporation, handling Investor
Relations for the Luckystrike, by telephone at (604) 210-2150 or by
email at jstuart@kingjamescapital.com.
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
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. 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 Luckystrike has
attempted to identify important factors and risks that could affect
Luckystrike and may cause actual actions, events or results to
differ materially from those described in Forward-Looking
Information, there may be other factors and risks that cause
actions, events or results not to be as anticipated, estimated or
intended, including, without limitation: inherent risks involved in
the exploration and development of mineral properties; the
uncertainties involved in interpreting drill results and other
exploration data; the potential for delays in exploration or
development activities; the geology, grade and continuity of
mineral deposits; the possibility that future exploration,
development or mining results will not be consistent with
Luckystrike’s expectations; accidents, equipment breakdowns, title
and permitting matters; labour disputes or other unanticipated
difficulties with or interruptions in operations; fluctuating metal
prices; unanticipated costs and expenses; uncertainties relating to
the availability and costs of financing needed in the future,
including to fund any exploration programs on its projects; that
Luckystrike may not be able to confirm historical exploration
results and other risks set forth in Luckystrike's public filings
at www.sedar.com. In making the forward-looking statements in this
news release, Luckystrike 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, Luckystrike 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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