2017 Exploration Program Update on Goldstrike’s Yukon Plateau Property
October 04 2017 - 7:45AM
Goldstrike Resources Ltd. (TSX-V:GSR) (OTC PINK:APRAF)
(FRANKFURT:KCG1) is pleased to announce that it has successfully
completed the 2017 Plateau property exploration program in
conjunction with its strategic partner, the Canadian subsidiary of
Newmont Mining Corporation (NYSE:NEM) (see News Release, March 6th,
2017). The 2017 program is the most extensive exploration
campaign carried out to-date on the Plateau property.
The 2017 program met its goals, highlights
include:
- DRILLING - 2972 meters of diamond drilling was
completed in 23 three holes at the Goldstack, Bonanza, Big Bang and
Goldbar priority target areas (Figure. 1). Final assay results are
pending.
- STAKING - Recent staking of an additional 434
claims brings the total size of the property to 3167 claims over
662 square kilometers. This staking, in addition to the
previously announced property expansion, (see News Release, May
15th 2017) represents a 57% increase in the Plateau Property land
position and extends the “Yellow Giant Gold Trend” from 50 km to 70
km in length.
- AIRBORNE GEOPHYSICS - A 1617 square
kilometer, high-resolution airborne survey has been completed
covering the entire property using a proprietary system belonging
to Newmont. An additional 864 square kilometers of SkyTEMTM
airborne data was also successfully acquired over the
property.
- REMOTE SENSING - Airborne LiDAR,
high-resolution satellite imagery and Radarsat-2 data was acquired
over the entire property. Structural analysis of this data is
pending.
- GROUND GEOPHYSICS - Ground geophysical surveys
including 9.5 line kilometers of IP, 14.5 line kilometers of
gravity and 14.5 line kilometers of ground EM was
completed.
- GEOCHEMISTRY - 4300 conventional soil samples
were collected on newly staked ridges and spurs as well as on
focused grids at Gold Rush, Bonanza, Bullion, Big Bang, and
Goldstack. In addition, DSG (Deep Sensing Geochemistry) and BLEG
(Bulk Leach Extractable Gold) samples were collected for analysis
using Newmont’s proprietary processes. Final assay results for the
soil and DSG samples are pending.
- PROSPECTING - Collection of 421 grab sample
and 138 channel samples was completed. Final assay results for
these samples are pending.
- MAPPING - District-scale and detailed
structural mapping and analysis by Newmont’s consulting geologist
and Goldstrike geologists was completed.
In addition to the exploration work, a second
multiyear camp located 17 km west of the existing camp was added to
accommodate district scale exploration programs. Existing docks and
infrastructure were also upgraded. The second camp provides for
efficient access for exploration along the full length of the 70 km
long gold mineralized system.
Based on exploration results in 2017, drill
equipment was left onsite in anticipation of a more extensive
exploration and drill program in 2018. With this in mind the
Company is applying to expand its advanced exploration permit to
include the new claims staked to cover the extension of this new,
70 km long, district-scale gold mineralized system that will
accommodate the 2018 exploration and drilling program.
The technical teams of both Goldstrike and
Newmont will be compiling results in collaboration with
contractors. After assay results are received, compiled and
interpreted a steady stream of news is anticipated over the coming
months.
Message from the President and CEO:
“This is an exciting time for Goldstrike and its
new partner, world class miner Newmont. The Yukon has
certainly received a very strong vote of approval from multiple
senior gold producers recently. The Plateau project has been
expanded from a subtle silt anomaly to confirmation and discovery
of a new district-scale gold mineralized system. Partnering
with Newmont has provided the experience required to successfully
explore this extensive gold mineralized system and access to their
proprietary mine-finding technologies. This is a great time
for Goldstrike. We look forward to reporting results in the near
future and unlocking the full potential of this gold mineralized
system long into the future. Working together with Newmont, First
Nations, the Yukon government and all other Yukon stakeholders we
will succeed.”
Stefan Kruse, P. Geo., Chief Geologist, 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
For the new Plateau Property map, please visit
Goldstrike’s website at www.GoldstrikeResources.com under “Gold
Projects – What’s New”. 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 Statements
Statements 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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