Goldstrike Drilling Intersects 10.91 Grams Per Tonne Gold Over 10.0 Metres at the Goldstack Zone and 7.60 Grams Per Tonne Ove...
09 Setembro 2013 - 12:55PM
Marketwired Canada
Goldstrike Resources Ltd. (TSX VENTURE:GSR)(PINKSHEETS:APRAF)(FRANKFURT:KCG1) is
pleased to report that initial exploration drilling has resulted in the
discovery of high grade gold mineralized shoots at both the VG Zone and the
Goldstack Zone, 17 kilometres apart on its Plateau South property in Yukon. Both
shoots remain open, confirming the significant potential of this extensive new
gold mineralized system. Drill highlights are set out below. Full drill results
are set out in the table following the description of the 2013 program at
Plateau South.
DRILL HIGHLIGHTS
Goldstack Zone (Discovery Hole PSGS13-04)
-- 2.28 grams per tonne gold over 53.0 metres
-- including 4.05 grams per tonne gold over 28.0 metres
-- including 10.91 grams per tonne gold over 10.0 metres
-- including 16.19 grams per tonne gold over 6.0 metres
-- including 25.87 grams per tonne gold over 3.0 metres
Gold Dome - VG Zone (Discovery Hole PSVG13-03)
-- 7.60 grams per tonne gold over 9.03 metres
-- including 8.85 grams per tonne gold over 7.0 metres
-- including 14.58 grams per tonne gold over 4.0 metres
GOLDSTACK ZONE
The discovery drill hole at Goldstack was the last hole drilled in 2013, and
intersected a high grade gold mineralized shoot averaging 10.91 grams per tonne
gold over 10 metres within a larger intersection of 2.28 grams per tonne gold
over 53 metres. This gold mineralized shoot was intersected at a shallow
downhole depth of 8 to 61 metres and remains open. It is hosted within felsic
metavolcanic rocks and hydrothermal breccia, associated with variable amounts of
arsenopyrite and specks of visible gold found in rock and channel grab samples
on surface. Last year's orientation hole and three other holes drilled in 2013
all intersected a mineralized gold-arsenic halo surrounding the high grade gold
mineralized shoot that was intersected by hole PSGS13-04. Drill results to date
indicate that the gold mineralized shoot plunges in a southeasterly direction,
parallel to regional fold axes. Additional new areas of surface gold
mineralization associated with macroscopic folds that have been found adjacent
to and on trend 4 kilometres northwest of the Goldstack discovery present strong
targets for the discovery of additional new gold mineralized shoots.
GOLD DOME - VG ZONE
The VG Zone discovery hole on Gold Dome was collared in gold-mineralized
felsenmeer, and encountered gold at the bedrock interface only 3.55 metres below
surface. This is the eroded top of a blind, high grade gold mineralized shoot
grading 7.60 grams per tonne gold over 9.03 metres that extended from 4.57
metres to 13.6 metres downhole. The gold is hosted in felsic metavolcanic rocks
cut by quartz stockwork and numerous quartz veinlets, some containing specks of
visible gold and up to 5 per cent arsenopyrite and pyrite that form a halo
around the gold mineralized shoot. As at Goldstack, the high grade mineralized
shoot at VG is indicated to plunge in a southeast direction. It is aligned with
the hinge of a large macroscopic fold that is exposed in a cliff face on Gold
Dome northwest of the discovery area. In addition, several new target areas with
high grade gold mineralization on surface were discovered on Gold Dome this
summer outside the VG zone. New rock grab samples containing visible gold and
assaying 351.49 grams per tonne (10.25 ounces per ton), 317.55 grams per tonne
(9.26 ounces per ton), 157.87 grams per tonne (4.61 ounces per ton), 82.91 grams
per tonne (2.42 ounces per ton), 55.52 grams per tonne (1.62 ounces per ton),
54.00 grams per tonne (1.58 ounces per ton), 45.05 grams per tonne (1.31 ounces
per ton) and 21.26 grams per tonne (0.62 ounces per ton) show that there is a
strong possibility of discovering additional gold mineralized shoots in the Gold
Dome area.
GOLDBANK ZONE
Prospecting on the 11 kilometre long Goldbank trend has resulted in the
discovery of new gold mineralization with rock grab samples grading up to 101.11
grams per tonne (2.94 ounces per tonne). In addition, a new gold trend with a
strike length with of more than 400 metres was discovered running parallel to
the original Goldbank trend and regional fold axes, with rock grab samples
grading up to up to 308.49 grams per tonne (9.0 ounces per tonne) gold. The new
trend remains open in both directions. Forty-seven of 73 rock samples taken from
this new zone assayed between 1 and 308.49 grams per tonne (9 ounces per ton)
gold, and six of 35 channel grab samples returned values between 1 and 13.23
grams per tonne (0.39 ounces per ton) gold. The grades of the newly discovered
samples grading over one ounce per tonne gold at Goldbank resemble those seen on
both Gold Dome and Goldstack. An initial program of four exploratory holes was
drilled to test two of multiple targets along the 11 kilometre Goldbank trend.
These holes all targeted areas where high grade gold mineralization had been
found in outcrop, but were collared prior to receiving assay results from 2013
surface sampling, and the last holes were drilled without key data on subsurface
structure obtained from the initial holes. Nonetheless, all four Goldbank drill
holes did intersect a gold-arsenic halo that suggests close proximity to gold
mineralized shoots. This is a similar geological setting to the gold halo seen
at the VG zone, and also to the gold halo that was intersected at Goldstack zone
in a single drill hole at the end of the 2012 season. The discovery of that gold
halo initiated a follow-up drill program that led directly to the discovery hole
at Goldstack this season. Given the extensive high grade gold mineralization
confirmed in bedrock, and numerous fold hinges outlined by surface mapping and
geophysics, it is clear that there are multiple targets along the 11 kilometre
Goldbank trend. Results to date along that trend and the new parallel structure
demonstrate that these zones have very strong potential to host multiple high
grade gold mineralized shoots.
Goldstrike's technical team is very pleased to see that the company is on track
with discovery after less than 10 weeks of cumulative exploration on the Plateau
South property to date. The initial exploratory drill program has already
confirmed the existence of high grade gold mineralized shoots in both the
Goldstack and Gold Dome VG zones, as well as the Company's interpretation that
the property is part of a regional-scale mesothermal gold system with a strike
length of more than 25 kilometres. More than sixty per cent of Canada's gold
production comes from mesothermal gold camps of this type. The Company's
geological team has strongly recommended further drilling to fully outline the
geometry of the Goldstack and VG discoveries and to test the gold potential of
numerous newly identified targets along the Goldbank trend and other portions of
the 25 kilometre Yellow Giant trend.
"We are very excited about the success of this initial drill program", said
Goldstrike CEO and President Terry King. "The discovery of high grade gold
mineralized shoots at both the Goldstack and VG zones and the discovery of high
grade gold mineralization at Goldbank are excellent starting points from which
to expand the gold potential of the 25 kilometre long Yellow Giant trend at
Plateau South."
TABLE OF DRILL RESULTS
(All holes drilled with BQ core)
----------------------------------------------------------------------------
Drill
Zone Interpretation hole Azimuth Dip
----------------------------------------------------------------------------
Goldstack Au-As halo PSGS13-01 164 70
----------------------------------------------------------------------------
including
----------------------------------------------------------------------------
and
(lower
zone)
----------------------------------------------------------------------------
including
----------------------------------------------------------------------------
and
----------------------------------------------------------------------------
Goldstack Au-As halo PSGS13-02 360 60
----------------------------------------------------------------------------
including
----------------------------------------------------------------------------
including
----------------------------------------------------------------------------
Goldstack Au-As halo PSGS13-03 308 70
----------------------------------------------------------------------------
High grade gold
Goldstack mineralized shoot PSGS13-04 128 65
----------------------------------------------------------------------------
including
----------------------------------------------------------------------------
including
----------------------------------------------------------------------------
including
----------------------------------------------------------------------------
including
----------------------------------------------------------------------------
and
including
----------------------------------------------------------------------------
Gold Dome (VG) Au-As halo PSVG13-01 86 45
----------------------------------------------------------------------------
and
----------------------------------------------------------------------------
Gold Dome (VG) Au-As halo PSVG13-02 90 45
----------------------------------------------------------------------------
and
----------------------------------------------------------------------------
PSVG13-
Gold Dome (VG) Au-As halo 02a 90 60
----------------------------------------------------------------------------
High grade gold
Gold Dome (VG) mineralized shoot PSVG13-03 90 45
----------------------------------------------------------------------------
including
----------------------------------------------------------------------------
including
----------------------------------------------------------------------------
including
----------------------------------------------------------------------------
Gold Dome (VG) Au-As halo PSVG13-04 90 45
----------------------------------------------------------------------------
and
----------------------------------------------------------------------------
Gold Dome (VG) Au-As halo PSVG13-05 90 45
----------------------------------------------------------------------------
and
----------------------------------------------------------------------------
Gold Dome (VG) Au-As halo PSVG13-06 90 45
----------------------------------------------------------------------------
and
----------------------------------------------------------------------------
and
----------------------------------------------------------------------------
Gold Dome (VG) Au-As halo PSVG13-07 90 45
----------------------------------------------------------------------------
and
----------------------------------------------------------------------------
and
----------------------------------------------------------------------------
Gold Dome (New target) Orientation hole PSVG13-09 90 45
----------------------------------------------------------------------------
Orientation hole,
Au-As halo in
Goldbank(New target) bedrock and core PSSW13-01 316 45
----------------------------------------------------------------------------
Orientation hole,
Au-As halo in
Goldbank(New target) bedrock and core PSSW13-02 297 45
----------------------------------------------------------------------------
and
----------------------------------------------------------------------------
and
----------------------------------------------------------------------------
Orientation hole, RS
Goldbank zone PSRS13-01 183 45
----------------------------------------------------------------------------
Orientation hole, RS
zone PSRS13-02 183 45
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Downhole Composite gold
width (uncut, grams
Zone From To (metres)(1) per tonne)
----------------------------------------------------------------------------
Goldstack 10.00 28.00 19.0 1.14(2)
----------------------------------------------------------------------------
23 25 2.0 8.29(2)
----------------------------------------------------------------------------
41 51 10.0 1.55
----------------------------------------------------------------------------
43.18 43.5 1.82 4.33
----------------------------------------------------------------------------
49.8 51.0 1.2 4.27
----------------------------------------------------------------------------
Goldstack 4.0 14.0 10.0 1.43
----------------------------------------------------------------------------
7.0 14.0 7.0 2.0
----------------------------------------------------------------------------
7.0 9.0 2.0 5.46
----------------------------------------------------------------------------
Goldstack 5.0 12 7.0 0.48
----------------------------------------------------------------------------
Goldstack 8.0 61 53.0 2.28
----------------------------------------------------------------------------
8.0 36.0 28.0 4.05
----------------------------------------------------------------------------
17.0 27.0 10.0 10.91
----------------------------------------------------------------------------
17.0 23.0 6.0 16.19
----------------------------------------------------------------------------
17.0 20.0 3.0 25.87
----------------------------------------------------------------------------
22.6 26.0 3.4 8.47
----------------------------------------------------------------------------
Gold Dome (VG) 10.65 11.5 0.85 1.51(2)
----------------------------------------------------------------------------
13.1 13.65 0.55 2.58(2)
----------------------------------------------------------------------------
Gold Dome (VG) 24.38 24.75 0.37 0.14
----------------------------------------------------------------------------
26.8 27.2 0.40 21.62(2)
----------------------------------------------------------------------------
Gold Dome (VG) 44.91 45.50 0.59 0.11
----------------------------------------------------------------------------
Gold Dome (VG) 4.57 13.6 9.03 7.60
----------------------------------------------------------------------------
5.0 12.0 7.0 8.85
----------------------------------------------------------------------------
5.0 9.5 4.5 13.71
----------------------------------------------------------------------------
5.0 9.0 4.0 14.58
----------------------------------------------------------------------------
Gold Dome (VG) 6.0 7.0 1.0 0.76
----------------------------------------------------------------------------
16.0 16.5 0.5 0.1
----------------------------------------------------------------------------
Gold Dome (VG) 6.6 7.0 0.4 11.92
----------------------------------------------------------------------------
14.0 14.5 0.5 0.22
----------------------------------------------------------------------------
Gold Dome (VG) 3.25 4.0 0.75 1.04
----------------------------------------------------------------------------
27.6 29.5 1.9 0.60
----------------------------------------------------------------------------
36.5 44.05 2.45 0.19
----------------------------------------------------------------------------
Gold Dome (VG) 15.24 15.8 0.56 0.12(2)
----------------------------------------------------------------------------
19.8 20.67 0.87 1.01
----------------------------------------------------------------------------
25.0 26.0 1.0 0.11
----------------------------------------------------------------------------
Gold Dome (New target) 8.0 8.63 0.63 0.14(2)
----------------------------------------------------------------------------
Goldbank(New target) 12.0 12.5 0.5 0.36
----------------------------------------------------------------------------
Goldbank(New target) 9.95 11.0 1.05 0.28
----------------------------------------------------------------------------
17.85 18.5 0.65 0.24(2 )
----------------------------------------------------------------------------
44.0 44.5 0.5 0.35
----------------------------------------------------------------------------
No significant
Goldbank values
----------------------------------------------------------------------------
No significant
values
----------------------------------------------------------------------------
Note that hole PSVG13-08 was not drilled.
(1) The reported intersections are drilled thicknesses. True widths in the
VG zone are believed to be between 78 and 100 per cent of these
values. Due to structural complexity, true widths in the Goldstack
zone have not been established at this time. Accordingly, the true
width is estimated to range from 27 and 65 per cent of these values.
(2) Where ICP and fire assay values are about the same, the fire assay is
normally quoted. Where the ICP gold value is many times larger than
the fire assay, it is likely due to a nugget effect caused by uneven
distribution of coarse gold in the original sample. Many metallics
assays taken on the property have already confirmed this, but in a few
cases where a metallics assay is not available, the ICP value has been
quoted.
A total of 376 rock grab samples, 1013 drill core samples, 81 channel samples,
304 soil samples, and 3 silt samples were taken on the Plateau South property in
2013. Rock grab samples ranged from below detection level to greater than the
upper detection limit levels of 10,000 and 100,000 parts per billion (10 and 100
grams per tonne) gold for Fire Assay and Inductively Coupled Plasma Mass
Spectrometry results respectively. Re-analysis of rock grab samples that
returned over 600 parts per billion (0.6 grams per tonne) gold returned results
ranging up to 351.49 grams per tonne (10.25 ounces per ton) gold using Metallics
Fire Assay. Drill core samples ranged from below detection level to greater than
the upper detection limit levels of 10,000 and 100,000 parts per billion (10 to
100 grams per tonne) gold for Fire Assay and Inductively Coupled Plasma Mass
Spectrometry results respectively. Re-analysis of over-the- limit drill core
samples by Metallics Fire Assay returned values up to 90.12 grams per tonne
(2.63 ounces per tonne) gold. Channel samples ranged from below detection level
to 18.35 grams per tonne (0.54 ounces per ton) gold, soil samples ranged from
below detection level to 375.0 parts per billion gold, and silt samples ranged
from below detection to 6.6 parts per billion gold. There are no sample assays
outstanding.
Goldstrike holds an option to acquire a 100% interest in the Plateau property
subject to a 3% NSR, of which 2/3 (i.e. 2%) may be purchased for $1,000,000.
Details of the option are set out in the Company's financial statements filed on
SEDAR at www.sedar.com.
All of Goldstrike's summer exploration results have now been released except for
the Summit property in the eastern Selwyn Basin, where bedrock grab samples
taken in 2012 returned up to 9.92 grams per tonne gold in a quartz breccia
cutting calcareous sediments of the Lower Hyland Group in a Carlin-style setting
(News Release October 1, 2012). A program of mapping, prospecting, trenching,
and geophysics was carried out in 2013. New zones of mineralization were
identified in the field, and assay results are pending.
Sample analysis and assaying for all of Goldstrike's projects are being
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 Consulting 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
Neither 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.
This news release may contain forward-looking statements including but not
limited to comments regarding the timing and content of upcoming work programs,
geological interpretations, receipt of property titles, potential mineral
recovery proces7.60ses, etc. Forward-looking statements address future events
and conditions, and therefore involve inherent risks and uncertainties. Actual
results may differ materially from those currently anticipated in such
statements. The reader is cautioned not to place undue reliance on
forward-looking statements.
FOR FURTHER INFORMATION PLEASE CONTACT:
Investor Relations
King James Capital Corporation
Jeff Stuart
(604) 805-0375
jstuart@kingjamescapital.com
Goldstrike Resources Ltd.
www.GoldstrikeResources.com
www.Twitter.com/GoldstrikeRes
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