Kincora Copper

Goldstrike Resources Drills 3.04 g/t gold over 7.73 m in White Gold District, Yukon

VANCOUVER, British Columbia, Jan. 16, 2018 (GLOBE NEWSWIRE) -- Goldstrike Resources Ltd. (TSX-V:GSR) (Frankfurt:KCG1) (OTC PINK:APRAF) is pleased to report the results from the final hole of the 2017 Lucky Strike drill campaign. Hole DDLS-17-08 returned 3.04 g/t Au over 7.73 metres (including 1.52 metres of 14.0 g/t Au) in diamond drill core. DDLS-17-08 was drilled at an azimuth of 2300 and was collared 40 metres west of discovery hole DDLS-17-09 that returned 5.36 g/t Au over 22 metres. DDLS-17-09 was drilled at an azimuth of 1800 (Table 1).

Goldstrike successfully completed 1,032 m of diamond drilling in nine shallow exploratory holes that constituted the 2017 drill program at Lucky Strike. All nine holes successfully intersected gold mineralization (Map 1 – Drill Plan).  All assay results from 2017 have now been reported. 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.

Based on the success of this first pass exploratory drill program and with its advanced exploration permit in place, Goldstrike is currently planning for the largest exploration program in the history of the Lucky Strike property. The team is currently compiling the large volume of data acquired in 2017 in preparation for phase two exploration and drilling. The data compilation includes geophysics, geochemistry, mapping and high resolution airborne photography, and 3D property-wide terrane modeling that will allow advanced targeting methods along the 10 km Lucky Strike gold corridor.

Gold mineralization is exposed at surface in the Monte Carlo Zone in a series of silicified and heavily oxidized zones that have a subtle linear topographic expressions and a strong geochemical association with silver, bismuth, tellurium, mercury, antimony, molybdenum and copper.

The Monte Carlo Zone is one of five large gold-in-soil anomalies along a 10 kilometre trend on the property and measures 1450 m by 450 m. Only the Monte Carlo zone has been drill tested to date. All five zones 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.  All five zones remain open. 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.

Table 1 – Drill highlights from the 2017 program.

Drill Hole ID From (m) To (m) Interval Length (m)1 Au (g/t)
DDLS-17-082 6.1 13.83 7.73 3.04
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 unknown
2Drill recovery locally below 50% in some samples
3Drill recovery locally below 30% in some samples

STATEMENTS

Message from Terry King, President and CEO:

“The Lucky Strike property is a unique and very 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 gold discoveries in the White Gold Camp in 2017 and has all the makings for a flagship standalone project. We are now finalizing our 2018 plans and look forward to optimizing the project’s value for our shareholders. With the largest drill and exploration campaign to date being laid out for Lucky Strike, the 2018 season promises to be an exciting time for this project.”

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.

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