Goldstrike Resources and Newmont Mining Commence Drilling On Plateau Property, Yukon
11 June 2018 - 9:45PM
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.
OTHER
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. KingPresident 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.
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 StatementsStatements 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
StreetVancouver, British ColumbiaCanada, V6E 4A4
Telephone:
604 681
1820Facsimile:
604 681
1864IR:
604
210 2150http://www.goldstrikeresources.com
https://twitter.com/GoldstrikeRes
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