Goldstrike Drills 5.36 grams per tonne gold over 22 m at Lucky Strike, Whitegold District – Yukon

by pmnationtalk on November 20, 201734 Views

Nov 20, 2017 – Goldstrike Resources Ltd. (GSR.V) is pleased to report that a discovery drill hole (DDLS-17-9) 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.

Interval Length
Drill Hole ID From (m) To (m) (m)1 Au (g/t)
DDLS-17-092 13 35 22 5.36
INCLUDING
28 33.72 5.72 18.79
Interval Length
Drill Hole ID From (m) To (m) (m)1 Au (g/t)
DDLS-17-07 18 23 5 1.30
Interval Length
Drill Hole ID From (m) To (m) (m)1 Au (g/t)
DDLS-17-02 18 27.55 9.55 1.33
Interval Length
Drill Hole ID From (m) To (m) (m)1 Au (g/t)
DDLS-17-06 26 28.15 2.15 5.12
Interval Length
Drill Hole ID From (m) To (m) (m)1 Au (g/t)
DDLS-17-05 25.75 27.22 1.47 1.06
Interval Length
Drill Hole ID From (m) To (m) (m)1 Au (g/t)
DDLS-17-033 19.2 30 10.8 0.61
Interval Length
Drill Hole ID From (m) To (m) (m)1 Au (g/t)
DDLS-17-012 18.29 21.86 3.57 1.75
Interval Length
Drill Hole ID From (m) To (m) (m)1 Au (g/t)
DDLS-17-04 113.8 114.07 0.27 0.51

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.

NT4

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