Goldstrike Resources and Newmont Mining Commence Drilling On Plateau Property, Yukon
TSX VENTURE: GSR
VANCOUVER, B.C., June 11, 2018 (GLOBE NEWSWIRE) -- Goldstrike Resources Ltd. (TSX-V:GSR) (Frankfurt:KCG1) (OTC PINK:APRAF) is pleased to provide an update on the 2018 drill program for its 662 km2 Plateau Property in Canada’s Yukon.
The district scale drill program is fully funded by Newmont Mining Corporation (NYSE:NEM) through its Canadian mining division and is forecast to include up to 10,000 meters of diamond drilling, with two drill rigs already onsite.
Drilling at Plateau commenced on June 1, 2018 on a large new target generated in the Goldbank area utilizing Newmont’s proprietary technologies. In addition to using Newmont’s proprietary geochemical technologies and airborne geophysical system to generate the target, the geological team used surface mapping and the 2017 IP (induced polarization) survey which indicates the presence of a significant subsurface chargeability anomaly. Drilling to test this target is now under way.
A second drill arrived on June 6, 2018 and is planned to begin drilling on the Goldstack showing immediately. The focus of this drilling will be on extending the known gold mineralization both to depth and along strike. A three kilometre IP survey was also recently completed on the Goldstack target and the results will be used in modelling and delineating additional drill targets along strike.
Beyond Goldstack and Goldbank, extensive diamond drilling will also take place in up to seven additional zones along the 70 km long, district-scale property. More details of these targets can be found in the April 30, 2018 new release.
News updates will remain ongoing as the program continues to unfold, and results will be released once received, compiled and interpreted.
Goldstrike has also mobilized for the most extensive drilling and exploration programs to date on its 100% owned Lucky Strike and Hotspot properties located in the heart of the White Gold District (included in the proposed spinoff described in the Company’s May 22, 2018 news release). Results from these programs will also be released once received, compiled and interpreted.
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 had supervised the preparation of, and has reviewed and approved, the technical information in this release.
Sample analysis and assaying for all of Goldstrike's projects has been conducted by Bureau Veritas in Vancouver, BC, which is ISO 9001 accredited. Soil samples are dried at 60C and 100 grams are sieved to -80 mesh. A 15 gram sample split is then leached in aqua regia at 95 degrees C and analyzed by a 36-element ICP package that includes semi-quantitative gold. Rock and drill core samples are crushed to 80% - 10 mesh and a 500 gram sample split is pulverized to 85% -200 mesh. 50 gram charges are then assayed for gold using fire assay fusion and ICP-ES finish with a lower detection limit of 2 ppb and an upper detection limit of 10 ppm Au. In addition, 0.5 mg charges are digested by modified 1:1:1 aqua regia (HCl-HNO3-H20) and analyzed by 36-element ICP-MS that also includes semi-quantitative gold with a lower detection limit of 0.5 ppb Au and an upper detection limit of 100 ppm Au. Selected samples are subjected to 500 gram metallic fire assays, for which the plus fraction is finished gravimetrically and the minus fraction is finished with AA. Rigorous procedures are in place regarding sample collection, chain of custody, and data entry. Certified assay standards, duplicate samples and blanks are routinely inserted into the sample stream to ensure integrity of the assay process. The reader is cautioned that grab samples are spot samples which are typically, but not exclusively, constrained to mineralization. Grab samples are selective in nature and collected to determine the presence or absence of mineralization and are not intended to be representative of the material sampled.
ON BEHALF OF THE BOARD
Terrence E. King
President and Chief Executive Officer
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.
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. 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.
GOLDSTRIKE RESOURCES LTD.
1010 -1130 West Pender Street
Vancouver, British Columbia
Canada, V6E 4A4
Telephone: 604 681 1820
Facsimile: 604 681 1864
IR: 604 210 2150