Goldstrike Commences Drilling on Lucky Strike, Yukon
27 June 2018 - 9:45PM
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.
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. 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. 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; 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.
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