Jul 22 2015
Goldstrike Resources Ltd. is pleased to report that it has intersected mineralization containing coarse visible gold in 5 drill holes (50 per cent of the holes drilled) at Gold Dome and Goldstack.
Holes in both areas of the Plateau project, Yukon, intersected several zones of mineralized stockwork and breccia that remain open along strike and to depth. The drilling was based on compilation of all surface and subsurface data. Assays are pending on all holes.
GOLD DOME INITIAL RESULTS
On Gold Dome, Hole PSVG15-08 targeted the discovery zone (7.6 grams per tonne gold over 9.03 metres - News Release 9 September, 2013) and intersected 18 metres of strongly mineralized quartz stockwork containing abundant arsenopyrite, as well as coarse grains of native gold in multiple locations. The true width of the mineralized zone in Hole PSVG15-08 is 9 metres. Hole PSVG15-06, which targeted a blind, deep anomaly, intersected 12.5 metres (true width) of mineralized stockwork with arsenopyrite at a downhole depth of 117 metres. Core from that hole contains coarse visible gold ranging from 1.5 mm to 3 mm in size in multiple locations. This new discovery significantly expands the area of known gold mineralization, and shows that Gold Dome has strong potential to host multiple new gold bearing stockwork zones at depth and along strike. Seven of eight holes drilled on Gold Dome during this program intersected quartz stockworks that remain open. These findings provide additional evidence of high grade gold mineralization over 1,000 metres of vertical relief between Gold Dome and Goldbank, and along the 25 kilometre Yellow Giant Trend, providing for strong gold potential in both the vertical and horizontal dimensions.
Eight selected rock grab samples containing coarse native gold were taken from subcrop within a newly expanded area of 500 by 500 metres that remains open (News Release June 22, 2015). These selected grab samples assayed 184.4 grams per tonne (5.37 ounces per ton), 129.51 grams per tonne (3.78 ounces per ton) (sample 1769103), 70.40 grams per tonne (2.05 ounces per ton), 66.0 grams per tonne (1.93 ounces per ton), 52.33 grams per tonne gold (1.53 ounces per ton gold), 35.26 grams per tonne (1.02 ounces per ton), 11.47 grams per tonne (0.33 ounces per ton), and 0.33 grams per tonne (0.01 ounces per ton).
Note: Grab samples are selective by nature, and are unlikely to represent average grades on the property.
Many targets identified at depth and many areas returning surface samples containing coarse free gold or gold mineralization remain to be drill tested within a 9 square kilometre area of strong gold potential on Gold Dome. Many of these targets are planned to be tested in the next phase of drilling.
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Due to the coarse nature of the gold, the company is using metallics fire assays to capture the gold in the coarse fraction, providing the most accurate representation of the gold mineralization. Historically, regular fire assays have underestimated the grade of gold in coarse gold systems, and metallic fire assays and bulk samples can more accurately represent the true grade because they capture all gold including the coarse fraction, which otherwise could have been discarded.