Goldstrike Resources Ltd. (GSR.V)
(Goldstrike) is pleased to announce that a limited program of
prospecting and geochemical surveying in 2020 has confirmed
high-grade gold (Au) mineralization at its newly staked McMurdo
property in southern British Columbia, Canada.
This includes in situ and float rock samples
that assayed up to 175.9 g/t Au (5.13 oz/ton) from
its newly expanded “Crown Point” zone. Significant assay results
exceeding 10 g/t Au are presented in Table 1.
Table 1: Significant assay results from Crown
Point and Decision Creek (>10 g/t Au)
Rock Sample ID |
Type |
Exposure |
Gold (g/t) |
Description |
1880106 |
Grab |
Outcrop |
47.4 |
20-30cm quartz vein with blebs of pyrite along margin of vein.
Approx. 10% pyrite. |
1880108 |
Grab |
Outcrop |
175.9 |
2m-wide boudinaged quartz vein with massive pyrite seam along vein
margin. Approx. 70% pyrite. |
1880115 |
Grab |
Float |
76 |
Quartz vein sample from tailings with patchy massive pyrite blebs.
Approx. 60% pyrite. |
1880132 |
Grab |
Outcrop |
49.7 |
1.5m-wide boudinaged quartz vein with blebby pyrite. Approx. 20%
pyrite. |
1880032 |
Grab |
Outcrop |
13.3 |
>2m-wide quartz vein with patchy-massive arsenopyrite and
pyrite. |
The program, designed to confirm the gold
potential of the property, was successful in both extending
historical gold showings and discovering new high-grade gold in
quartz veins. A total of 33 soil samples and 74 rock grab samples
were collected during the program. The results highlight the
potential for significant precious metal mineralization in the
area.
The Crown Point zone comprises a 400m x 300m
area that contains auriferous quartz veins hosted in a micaceous
grit unit. This area has been exposed following roughly 700m of
glacial retreat since the turn of the 20th century, which provided
company geologists with the opportunity to significantly expand the
known historic mineralized zone. The quartz veins range from a few
centimetres to 3m in width and contain irregularly disseminated
pyritic mineralization throughout. Grab samples from these veins
assayed up to 175.9 g/t (5.13 oz/t) Au.
Refer to this link
https://goldstrikeresources.com/wp-content/uploads/CROWN_POINT_ZONE_MM.jpg
for the 2020 Crown Point sample results map.
The gold bearing quartz veins are hosted in a
micaceous grit unit that is repeated ~1,700m to the southeast where
known historical gold mine workings occur. These historical
workings host gold mineralization analogous to the newly discovered
Crown Point gold showings. Both showings are located on the same
axial trace of a regional antiform and are within property
boundaries. First-pass sampling from the historic workings returned
gold assays up to 76 g/t (2.22 oz/ton) Au from pyritic quartz
veins, and anomalous gold-in-soil assays up to 88 ppb Au. The
similar geological and mineralogical settings of the two showings
indicate potential for significant southeastward expansion of the
high-grade gold system at Crown Point.
Refer to this link
https://goldstrikeresources.com/wp-content/uploads/GOLD_RESULTS_MAP_MM.jpg
for the 2020 property-wide sample results map.
This is the first-time modern exploration
methods have been employed to identify the gold potential of the
McMurdo Property. Based on the strong results from this first-pass
program, it is Goldstrike’s opinion that there is excellent
potential for additional high-grade gold discoveries.
About
McMurdo:
Location
The McMurdo property is a regional grassroots
exploration target, generated in-house by Goldstrike’s exploration
team. The property covers 1,728 hectares (4,258 acres) of highly
prospective geology located in the northern Purcell Mountain range
of southeast British Columbia. The property is located 30
kilometres southeast of Golden, British Columbia and can be
accessed via maintained forest service roads or by helicopter based
in the nearby town of Golden. It is 100%-owned by Goldstrike
Resources with no underlying royalties or payments.
Geology
The property is underlain by a thick sequence of
Proterozoic marine sedimentary rocks exposed in the core of the
northwest trending Purcell Anticlinorium. This anticlinorium is
deformed by a complex series of thrust faults and folds running
parallel to the northwest-southeast trending axial trace. The rocks
exposed on the McMurdo property belong to the Horsethief Creek
group and comprise a series of prominent grit and quartzite
sedimentary members separated by shales and minor carbonate units.
The Cretaceous Battle Range Batholith intrudes the sedimentary
rocks approximately 10 km southwest of the property. Gold
mineralization occurs mainly as pyritic quartz veins that strike
northwest and are steeply dipping to the northeast. The quartz
veins are typically confined to the coarser grained grits and
quartzites. Replacement style lead-zinc-silver (Pb-Zn-Ag)
mineralization is confined to the more finely textured carbonate
and shale units.
Refer to this link
https://goldstrikeresources.com/wp-content/uploads/McMurdo_Goldstrike_Resources_Presentation_Final_2020.pdf
for the 2020 McMurdo presentation.
History
The area was first prospected in the late 1800s
for gold and then shortly after for lead, zinc, and silver. The
first gold discoveries were made in the early 1890s, and a small
stamp mill was built on Decision Creek to treat gold ore obtained
from the Burns and Dutchman mining leases. The present McMurdo
property covers the former Burns mining leases and quartz-sulphide
veins. At about the same time, the Crown Point prospect, comprising
lead-zinc-silver replacement style mineralization, was discovered
at the headwaters of McMurdo Creek. This prospect was periodically
mined until the 1940s with a total of 762 meters of underground
workings. Several minor gold showings were also discovered near the
former Crown Point mine at this time.
In 1966, West Gate Mines completed the most
recent documented exploration program focusing on gold in the area.
West Gate’s work consisted of prospecting and re-sampling of
historical workings, and recommended diamond drilling to follow up
on results.
Commencing in the late 1970s, the area underwent
regional exploration over a period of several years for SEDEX-style
lead – zinc mineralization. A significant amount of geological,
geochemical and geophysical surveying was completed, followed by
exploration diamond drilling. Only a small portion of this work was
completed on the McMurdo property, and most of the geochemical
samples were not assayed for gold.
Message from
the President
“The confirmed presence of abundant high-grade
gold veins that have been revealed by glacial recession, combined
with the lack of modern-day gold exploration techniques, shows that
the McMurdo property has strong potential for a significant gold
discovery. With road access to the claim block and proximity to the
community of Golden BC, the economics of developing a deposit are
clearly enhanced. We are looking forward to advancing this
high-grade gold property.”
ON BEHALF OF THE BOARD
Daithi Mac GearailtPresident and Chief Executive Officer
Carl Schulze, P. Geo., Consulting Geologist with
Aurora Geosciences Ltd, is a qualified person as defined by
National Instrument 43-101 for Goldstrike's Yukon exploration
projects and has reviewed and approved the technical information in
this release.
For new information from the Company’s programs,
please visit Goldstrike’s website at GoldstrikeResources.com and
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