Goldstrike and Newmont Mining plan for up to 10,000 meter drill program on Plateau in 2018
December 11 2017 - 7:45AM
Goldstrike Resources Ltd. (TSX-V:GSR) (OTC
PINK:APRAF) (FRANKFURT:KCG1) is pleased to report that it has
successfully completed the 2017 exploration season and is preparing
for the official handover of the Plateau project to Newmont Mining
Corporation (NYSE:NEM).
The Company incurred exploration expenditures in
excess of $6,000,000 CAD and drilled over 2,900 meters in 2017.
In addition, the Company had the benefit of the use of a
number of Newmont’s proprietary exploration techniques and
technologies. The resulting data, together with previously
gathered data (see October 4, 2017 News Release), is currently
being compiled and used for modeling.
The 2017 drilling was principally focused on
understanding and modeling the controls of the high-grade gold
mineralization present at surface and in core from previous drill
campaigns, and successfully identified multiple key target areas
and new surface gold mineralization along the 70 kilometre long
Yellow Giant trend, confirming a district-scale gold mineralized
system. All drill results are available on the Company’s
website at www.goldstrikeresources.com. All gold mineralized
targets tested in 2017 remain open along strike and to
depth.
Based on the data obtained from the 2017 program
and interpretations of that data, Newmont has confirmed that the
2018 drill program will consist of up to 10,000 meters utilizing
multiple drill rigs to test multiple key target areas. With
drill results now in hand, Newmont has commenced the process of
planning that program and intends to commence its 2018 drill
program as early in the new year as possible.
The 2018 program is forecasted to be the largest
and most extensive drill program in the Plateau property’s history,
and is expected to exceed all historical drilling meters
combined. Newmont already has in process an application to
the Government of Yukon for an expanded Advanced Exploration Permit
in order to facilitate next year’s exploration and drilling
program.
Message from Wayne Trudel, Newmont Group Executive North
America Exploration
Wayne Trudel, Newmont’s Group Executive for
exploration in North America, said: “Our collaboration with
Goldstrike in the exploration of the Plateau Property during the
2017 field season laid a solid foundation for Newmont to further
advance the Plateau project. Plateau represents a large
property position on an emerging, prospective high-grade gold trend
in the Yukon. Newmont expects to complete up to 10,000 meters of
drilling on the property in 2018, building on the integrated
geological, geochemical and geophysical modeling and targeting
completed in 2017. We look forward to continuing to
work closely with our partner going forward as they hand over
management of the 2018 field exploration program”.
Message from Goldstrike’s President and CEO, Terrence
King:
“We are pleased to have a partner in Newmont
Mining that has the proprietary technologies, depth and experience
to move the Plateau project forward. We are confident that
our shareholders are in very capable hands as we hand over the
Plateau project for 2018 and beyond. The Goldstrike team will
continue to work closely with its partner going forward to assist
where we can, in order to unlock the full value of the Plateau
district-scale gold system. We look forward to the 2018 Plateau
drill program with great anticipation.”
Stefan Kruse, Ph.D., P. Geo., Chief Geologist,
is a qualified person as defined by National Instrument 43-101, for
Goldstrike's Yukon exploration projects and had supervised the
preparation of, and has reviewed and approved, the technical
information in this release.
OTHER
Sample analysis and assaying for all of
Goldstrike's projects has been conducted by Bureau Veritas in
Vancouver, BC, which is ISO 9001 accredited. Soil samples are dried
at 60C and 100 grams are 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
and drill core samples are crushed to 80% - 10 mesh and a 500 gram
sample split is pulverized to 85% -200 mesh. 50 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.
Selected samples are subjected to 500 gram 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.
ON BEHALF OF THE BOARD
Terrence E. KingPresident and Chief Executive Officer
For new information from the Company’s programs,
please visit Goldstrike’s website at GoldstrikeResources.com. 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 StatementsStatements 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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