Goldstrike Resources Commences Drilling on Lucky Strike, Yukon
TSX VENTURE: GSR
VANCOUVER, British Columbia, June 27, 2018 (GLOBE NEWSWIRE) -- Goldstrike Resources Ltd. (TSX-V:GSR) (OTC PINK:APRAF) (Frankfurt:KCG1) is pleased to provide an update on the 2018 drill program at its 156 square kilometre Lucky Strike Property. Lucky Strike is located in the heart of the Yukon’s White Gold District and is 100%-owned by Goldstrike with no underlying payments or royalties.
Diamond drilling began June 16th, 2018 in the Monte Carlo zone. Drilling will expand upon 2017’s 1033m drill program; the first drilling to date on the property (5.36 grams per tonne gold over 22 metres - November 20, 2017 news release). Drill holes are planned around mechanical trenching results, soil sample geochemistry, and the results of a 2016 induced polarization (IP) survey. By the end of the program, the company is expected to cover ~700m of strike length at Monte Carlo. Details of the 10 km trend containing multiple gold mineralized zones can be found in the May 22, 2018 news release.
A geophysical crew has also mobilized to Lucky Strike to perform an IP survey. The survey will consist of approximately nine kilometres of survey lines and expand the original survey to the north, further delineating a prominent northwest structure, and a separate, untested chargeable anomaly at depth which is considered to have strong potential providing for additional drill targets.
Goldstrike has also commenced reconnaissance soil sampling and prospecting of the large under-explored areas that contain several new targets and structures identified using the 2017 data and a property wide LIDAR survey. Over 500 samples have been taken to date and up to an additional 1500 samples are planned.
100 % Owned Hotspot Property Exploration Program
The highly anticipated inaugural trenching and ground geophysics programs at Hotspot (80 kilometres west of Lucky Strike) are expected to begin June 27th, 2018. Trenching and ground geophysics will focus on delineating drill targets on the Sure Bet zone, a 100 x 150 metre geochemical anomaly that yielded soil samples assaying up to 4.1 grams per tonne gold and rock samples from hand pits assaying up to 0.39 grams per tonne gold (November 21 news release). The zone remains open to the north and south.
Additional reconnaissance prospecting and soil sampling are also planned for the rest of the property, located in a key geologic terrane.
News updates will remain ongoing as the program continues to unfold, and results will be released once received, compiled and interpreted.
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. 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.
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.
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; 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.