May 5 2015
Goldstrike Resources Ltd. is pleased to report that it has begun to mobilize in preparation for a follow-up program to include drilling, geophysics, and prospecting on its flagship Yukon Plateau property. The drilling is designed to expand on the high grade gold mineralization intersected in the discovery holes at both the Gold Dome (VG) and Goldstack zones, which remains open.
The Company's exploration and drill results to date have confirmed a new district scale gold system more than 25 kilometres long and 1,000 metres in vertical extent (Yellow Giant Trend) with tremendous potential that remains open along strike and to depth. Gold is widespread in hydrothermal breccias, veins and stockworks, and is disseminated in very strongly silicified and altered bedrock. Surface grab samples have assayed up to 15.45 ounces per ton (529.86 grams per tonne) (News Release October 30, 2012). Initial drilling is planned to target the gold mineralization intersected in discovery holes that remains open at depth and along strike. The drilling is planned to consist of a series of holes up to 200 metres deep, totalling approximately 1000 metres of HQ core.
The discovery hole drilled in the Goldstack Zone near the west end of the 25 kilometre Yellow Giant Trend intersected shallow gold mineralization grading 4.05 grams per tonne over 28 metres, including 10.91 grams per tonne gold over 10 metres, and remains open. The upcoming drill program is designed to follow the gold mineralization to depth and along strike.
Another discovery hole, drilled blind on Gold Dome (VG Zone), near the east end of the 25 kilometre Yellow Giant Trend, intersected gold mineralization near surface grading 7.6 grams per tonne gold over 9.03 metres, including 14.58 grams per tonne over 4.0 metres and remains open. A high resolution three dimensional IP survey in 2014 confirmed multiple strong targets underlying Gold Dome that remain to be drilled. These IP targets have a similar signature to the high grade gold intersection in the discovery hole. Both IP targets and the gold mineralization intersected in the discovery hole are planned to be drilled to depth and along strike in the upcoming program.
The 11 kilometre Goldbank Zone is located between the Gold Dome (VG) and Goldstack Zones within the 25 kilometre Yellow Giant Trend and remains open. It includes multiple high grade gold zones with samples grading up to 308.49 grams per tonne (9.0 ounces per ton) gold taken from bedrock that remains to be drilled (News Release September 9, 2013).
To view Figure 1, please visit the following link: http://media3.marketwire.com/docs/apraf0504fig1.jpg.
These discoveries were made by Goldstrike's team in less than 11 weeks of cumulative field exploration. There is no record of any previous exploration on the property. The property is 100% controlled. There is good floatplane access on the property, and a good airstrip 12 kilometres to the south.
"We are looking forward to this summer's exploration season with great anticipation," said Goldstrike President and Chief Executive Officer Terry King. "The Company is well funded for this program, has received strong institutional support and is debt free. We view the recent financing and the interest in the project expressed by several gold producers as a strong vote of confidence in the potential of this new district-scale gold discovery."
The Plateau property consists of 1,597 quartz mining claims covering approximately 352.5 square kilometres in the Mayo Mining District. All claims are located on Crown Land within the Traditional Territory of the Na Cho Nyak Dun First Nation, which has a settled land claim. The property was chosen as one of only six projects to be showcased by the Yukon Government in its 2014 Media Tour sponsored by the Yukon Government. It was written up in 2014 by Northern Miner, Mining News North of 60, and Resource World. Yukoner Ron Stack received "Prospector of the Year" award for his discovery of the Goldbank zone on the property.
Sample analysis and assaying for all of Goldstrike's projects have been conducted by Acme Analytical Laboratories Ltd in Vancouver, BC, which is ISO 9001 accredited. Soil samples are dried at 60C, and 100 grams is 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 samples are crushed to 80% -10 mesh, and a 250 gram sample split is pulverized to 85% -200 mesh. 30 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. All samples containing visible gold or returning assays of more than 10 ppm gold are subjected to 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.
Note: Grab samples are selective by nature, and are unlikely to represent average grades on the property.
Trevor J. Bremner, P. Geo., Chief Geologist and Goldstrike Board Member, is a qualified person, as defined by National Instrument 43-101, for Goldstrike's Yukon exploration projects and 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