Luckystrike Resources Ltd. (TSX-V:LUKY.V) is
pleased to provide results for its 2018 exploration program at its
100%-owned Lucky Strike Property, located in the heart of the White
Gold District, Yukon.
- Diamond drill hole DDLS-18-06 intersected multiple gold-bearing
zones at the Monte Carlo zone, returning 1.16 grams
per tonne gold (g/t Au) over 8.3 meters in the upper
zone and 4.55 g/t Au over 7.6m in a
newly discovered lower zone comprised of a broad gold-sulphide
rich unit. This drill hole confirms the lower zone directly
corresponds to a large, subsurface, strong IP chargeability anomaly
that is defined for 1.8 kilometres and remains open in all
directions. The discovery of this broad gold mineralized unit
significantly expands the zone to depth, with very strong potential
to quickly expand the scale and geometry of Monte Carlo both along
strike and to depth by targeting this clearly defined 1.8 kilometre
IP anomaly with future drilling (link to Figure 1).
- The lower zone is considered highly significant, as drill hole
DDLS-18-06 represents the only one to have targeted the IP
chargeability zone and confirmed the presence of a broad zone of
high-grade gold mineralization within the IP anomaly (link to
Figure 1).
- Trenching at Monte Carlo returned 0.94 g/t Au over 30m
including 1.14 g/t Au over 24m (link to Figure 2).
- The 2018 trenching has also significantly expanded the
strike length of known gold mineralization along the Monte Carlo
trend from 400m to 560m, and the zone remains open to the northwest
and southeast. Soil sampling, rock grabs, and IP indicate a
larger footprint of 1800m x 450m on Monte Carlo, part of
the 10 km Lucky Strike Corridor.
- Trenching and IP along the 10 km Lucky Strike Corridor was also
successful in delineating several new drill targets at both the
Maverick and Belmont zones.
Monte Carlo Zone Drilling
The 2018 exploration diamond drill program
focused on the Monte Carlo zone and totalled 1359.71 meters of
HTW-sized core from 11 holes. The program centered on expanding
2017’s 1033 meter drill program, which yielded numerous gold
intercepts, including 5.36 g/t Au over 22m (see November 20, 2017
news release). Previous mechanical trenching in the area has also
indicated widespread gold mineralization in the zone, returning
results, which included 0.76 g/t Au over 78m (see September 26,
2016 news release). The 2018 drilling covered a strike length of
640 metres. Drilling focused on testing the main Monte Carlo
mineralized structure, identified through IP and previous drilling.
An untested, large subsurface chargeable IP zone, identified
in a 2016 survey and expanded upon in 2018, has been outlined for
1.8 km, and remains open ended in a northwest and southeast
direction. The buried IP zone is characterized by strong
chargeability responses (10 to 17 mV/V) and corresponding strong
resistivity lows. Expansion of the IP survey is highly
recommended in both directions, in order to determine the full
extent of the highly chargeable and low resistive zone, which
corresponds to the 2018 drill intercept of a gold-bearing sulphide
unit.
Many gold-bearing drill hole intercepts were
returned from the analyses of 1459 core samples (see Tables 1 and
2). The majority of the drilling focused on the southeast
trending Monte Carlo structure and its associated mineralization
within an oxidized orthogneiss package (see Figure 1 for drill hole
locations). Drill hole DDLS-18-06 intersected high-grade gold
(4.55 g/t Au over 7.6m, including 7.89 g/t Au over 4.0m) at depth
(170m vertical depth) in a chargeable IP anomaly, confirming the
excellent gold potential of this large subsurface IP anomaly. This
intersection is significant, as high-grade mineralization occurs in
un-oxidized, silicified-albitized, sulphidized country rock
(orthogneiss); a gold/sulphide-rich unit that directly corresponds
to a subsurface, strong IP chargeability zone, which is traceable
for 1.8 kilometers, and remains open ended. This unit has excellent
potential to quickly expand the high-grade gold mineralization
intersected by drilling on Monte Carlo.
Table 1: Drill collar information
Hole ID |
Easting |
Northing |
Azimuth |
Dip |
Depth (m) |
DDLS-18-01 |
589502 |
7012887 |
230 |
-55 |
59.44 |
DDLS-18-02 |
589505 |
7012889 |
50 |
-55 |
79.25 |
DDLS-18-03 |
589565 |
7012869 |
230 |
-55 |
108.20 |
DDLS-18-04 |
589606 |
7012766 |
230 |
-55 |
103.63 |
DDLS-18-05 |
589568 |
7012866 |
180 |
-55 |
137.16 |
DDLS-18-06 |
589606 |
7012965 |
50 |
-75 |
196.60 |
DDLS-18-07 |
589519 |
7012965 |
230 |
-55 |
85.95 |
DDLS-18-08 |
589727 |
7012612 |
230 |
-55 |
118.87 |
DDLS-18-09 |
589518 |
7012969 |
90 |
-55 |
126.49 |
DDLS-18-10 |
589513 |
7013204 |
230 |
-55 |
245.06 |
DDLS-18-11 |
589366 |
7013132 |
230 |
-55 |
99.06 |
Table 2: Assay highlights
Hole ID |
From (m) |
To (m) |
Interval (m) |
Au (g/t) |
DDLS-18-01 |
1.50 |
3.00 |
1.50 |
2.12 |
DDLS-18-01 |
11.00 |
12.00 |
1.00 |
0.31 |
DDLS-18-01 |
37.00 |
38.00 |
1.00 |
0.66 |
|
|
|
|
|
DDLS-18-02 |
0.50 |
62.00 |
61.50 |
0.50 |
including |
DDLS-18-02 |
55.00 |
60.00 |
5.00 |
3.81 |
|
|
|
|
|
DDLS-18-03 |
49.00 |
50.00 |
1.00 |
2.10 |
DDLS-18-03 |
66.00 |
67.00 |
1.00 |
0.44 |
DDLS-18-03 |
73.00 |
74.00 |
1.00 |
0.41 |
DDLS-18-03 |
80.00 |
81.00 |
1.00 |
0.35 |
|
|
|
|
|
DDLS-18-04 |
40.00 |
41.00 |
1.00 |
0.67 |
DDLS-18-04 |
68.00 |
69.00 |
1.00 |
0.58 |
|
|
|
|
|
DDLS-18-05 |
No significant values |
|
|
|
|
|
DDLS-18-06 |
21.00 |
34.40 |
13.40 |
0.20 |
DDLS-18-06 |
46.00 |
64.00 |
18.00 |
0.64 |
including |
DDLS-18-06 |
53.70 |
62.00 |
8.30 |
1.16 |
|
|
|
|
|
DDLS-18-06 |
103.00 |
106.00 |
3.00 |
0.47 |
DDLS-18-06 |
126.00 |
128.00 |
2.00 |
0.65 |
DDLS-18-06 |
136.10 |
146.00 |
9.90 |
0.29 |
including |
DDLS-18-06 |
136.10 |
137.16 |
1.06 |
1.70 |
|
|
|
|
|
DDLS-18-06 |
176.90 |
184.50 |
7.60 |
4.55 |
including |
DDLS-18-06 |
180.00 |
184.00 |
4.00 |
7.89 |
|
|
|
|
|
DDLS-18-07 |
12.00 |
13.00 |
1.00 |
1.54 |
DDLS-18-07 |
20.00 |
21.00 |
1.00 |
0.37 |
DDLS-18-07 |
31.50 |
32.90 |
1.40 |
0.62 |
|
|
|
|
|
DDLS-18-08 |
13.00 |
13.72 |
0.72 |
0.58 |
DDLS-18-08 |
20.00 |
22.00 |
2.00 |
0.31 |
DDLS-18-08 |
64.00 |
66.00 |
2.00 |
0.58 |
DDLS-18-08 |
76.00 |
77.00 |
1.00 |
0.46 |
|
|
|
|
|
DDLS-18-09 |
24.34 |
25.91 |
1.57 |
0.40 |
|
|
|
|
|
DDLS-18-10 |
13.00 |
29.00 |
16.00 |
0.89 |
including |
DDLS-18-10 |
13.72 |
21.00 |
7.28 |
1.56 |
|
|
|
|
|
DDLS-18-10 |
43.00 |
61.00 |
18.00 |
0.37 |
including |
DDLS-18-10 |
60.00 |
61.00 |
1.00 |
2.48 |
|
|
|
|
|
DDLS-18-10 |
126.00 |
127.00 |
1.00 |
1.45 |
DDLS-18-10 |
199.00 |
200.00 |
1.00 |
4.06 |
DDLS-18-10 |
220.00 |
222.00 |
2.00 |
0.42 |
DDLS-18-10 |
226.00 |
227.08 |
1.08 |
0.33 |
|
|
|
|
|
DDLS-18-11 |
16.00 |
17.00 |
1.00 |
0.24 |
DDLS-18-11 |
60.00 |
61.40 |
1.40 |
0.76 |
Trenching
Luckystrike Resources is also pleased to
announce the results of its mechanized trenching program across the
10 kilometer Lucky Strike gold trend. Eleven trenches totalling
1865.5 meters were completed: two at Monte Carlo (213m), two at
Belmont (810m), one at Samson (150m), five at Boss (526m), and one
at Maverick (166.5m). Details and previous results of these gold
mineralized zones can be found in the May 22, 2018 news release.
Table 3 displays highlights from the 2018 trenching program.
At the upper and lower zones of Monte Carlo,
trenches LSTR-18-01 (0.94 g/t Au over 30m including 1.14 g/t Au
over 24m) and LST-18-02 (0.90 g/t Au over 22m) were
successful in increasing the strike length of known gold
mineralization to approximately 500m, which remains open in both
directions (see Figure 1 for Monte Carlo trench locations). Both
the upper and lower zones reflect sub-parallel gold trends, having
a close spatial relationship to the main Monte Carlo structure,
where widespread low grade gold mineralization returned values up
to 0.76 g/t Au over 78m in surface trenching.
Trenching at the Belmont zone on a 1500m
x 800m gold-in-soil anomaly, located 3.5 kilometers south of Monte
Carlo, yielded broad intercepts, such as 0.29 g/t Au over 10m. A
significant zone of up to 200m of oxidized pyrite-bearing quartz
veining was encountered in trenching, providing strong drill
targets. A strong buried clearly defined chargeable IP anomaly was
also identified at Belmont, similar to that seen at Monte Carlo.
The open-ended anomaly is at least 250m long with excellent
potential to expand this strong chargeability anomaly along strike.
This chargeability zone has strong potential to be coincident with
a gold-sulphide rich unit as seen at Monte Carlo and remains to be
drill tested. Additional IP is strongly recommended to outline the
full extent of this IP anomaly along the 10 kilometre Luckystrike
corridor (link to Figure 3). Trenching at Boss (a 1000m x
100m gold-in-soil anomaly) and Samson (a 600m x 300m gold-in-soil
anomaly) returned no significant gold intercepts in 2018. Previous
results include trenching of 0.32 g/t Au over 12m and grab samples
up to 41 g/t Au. Compilation and further interpretation of all the
data will be used to focus future exploration efforts in these
zones.
The Maverick zone represents the
southeastern extent of the 10-kilometer gold trend. Assay results
have confirmed the presence of continuous gold mineralization in
the first mechanized trenching conducted at the gold zone. Trench
LSTR-18-11 yielded 0.63 g/t Au over 16m, with open-ended gold
mineralization on both ends of the trench, providing strong gold
targets for future drilling.
Table 3: Mechanized trenching assay
highlights
Zone |
Trench ID |
From (m) |
To (m) |
Interval (m) |
Au (g/t) |
Monte Carlo |
LSTR-18-01 |
52.00 |
82.00 |
30.00 |
0.94 |
including |
LSTR-18-01 |
58.00 |
82.00 |
24.00 |
1.14 |
LSTR-18-01 |
78.00 |
82.00 |
4.00 |
2.87 |
|
|
|
|
|
|
Monte Carlo |
LSTR-18-02 |
20.00 |
42.00 |
22.00 |
0.90 |
including |
LSTR-18-02 |
26.00 |
30.00 |
4.00 |
2.24 |
|
|
|
|
|
|
Belmont |
LSTR-18-03 |
4.00 |
6.00 |
2.00 |
0.79 |
LSTR-18-03 |
70.00 |
92.00 |
22.00 |
0.13 |
LSTR-18-03 |
106.00 |
116.00 |
10.00 |
0.22 |
|
|
|
|
|
|
Belmont |
LSTR-18-04 |
326.00 |
336.00 |
10.00 |
0.29 |
LSTR-18-04 |
376.00 |
378.00 |
2.00 |
0.35 |
|
|
|
|
|
|
Samson |
LSTR-18-05 |
No significant values |
|
|
|
|
|
|
Boss |
LSTR-18-06 |
50.00 |
52.00 |
2.00 |
0.20 |
|
|
|
|
|
|
Boss |
LSTR-18-07 |
No significant values |
|
|
|
|
|
|
Boss |
LSTR-18-08 |
No significant values |
|
|
|
|
|
|
Boss |
LSTR-18-09 |
No significant values |
|
|
|
|
|
|
Boss |
LSTR-18-10 |
No significant values |
|
|
|
|
|
|
Maverick |
LSTR-18-11a |
52.00 |
66.00 |
14.00 |
0.11 |
|
|
|
|
|
|
Maverick |
LSTR-18-11b |
6.00 |
14.00 |
8.00 |
0.25 |
LSTR-18-11b |
30.00 |
46.00 |
16.00 |
0.63 |
LSTR-18-11b |
56.00 |
62.00 |
6.00 |
0.16 |
LSTR-18-11b |
86.00 |
88.00 |
2.00 |
0.40 |
Reconnaissance Prospecting and Soil
Sampling
The 2018 exploration completed a widespread
reconnaissance soil sampling and prospecting program on the large,
under-explored southeast half of the property. A total of 2540 soil
samples and 148 rock grab samples were collected. Sampling was
largely directed to structures identified through a 2017
property-wide LIDAR survey.
Multiple Au-Ag-Te-Hg soil anomalies were yielded
from this survey, assaying up to 100 ppb Au. Most of the new
anomalous gold zones are located along trend of known
mineralization to the north. The majority of the soil sample assays
were returned after the completion of the program and require
follow-up exploration. Very limited follow-up prospecting was
completed. One anomalous zone is located 7 kilometers southeast of
Maverick and yielded prospective float samples taken in the
vicinity of a 53 ppb Au soil sample. Two rock grab samples
collected from this area returned encouraging gold values of 0.70
g/t Au and 0.29 g/t Au. These newly identified soil gold anomalies
occur in multiple areas, providing additional follow-up targets
with excellent untapped discovery potential.
Message from William (Bill) Chornobay,
President and CEO:
“We are pleased with the results from this
year’s program and with the discovery of a new gold-bearing
mineralized unit at depth and significant expansion of the known
near surface gold zone at Monte Carlo. We look forward to continue
drilling this gold discovery to outline its full extent both to
depth and along and across strike. Over the last 10 years over 7
million ounces of gold has been discovered in the White Gold
district. The 10-kilometer Lucky Strike Corridor is in the heart of
this emerging gold camp that continues to provide new discoveries
and attract significant interest and exploration. The Lucky Strike
project is still in its infancy with only 2400 meters of
exploratory drilling to date and has already shown it has all the
right ingredients required – location, grade, dimensions, geology,
and geochemistry – to quickly develop into the next big gold
discovery.”
OTHER
Sample analysis and assaying for all of
Luckystrike’s projects have been conducted by Bureau Veritas
Mineral Laboratories Canada (formerly Acme Analytical Laboratories
Ltd) in Vancouver, BC, which is ISO-9001 accredited laboratory.
Rock and drill core samples are crushed, split and pulverized to
250 g pulp, 200 mesh. For gold analysis a 50 g split is fire
assayed with an ICP-ES finish (FA350-Au). Samples assaying >10
ppm Au are run with a gravimetric finish (FA550-Au). Samples also
undergo a 45-element assay which involves a multi-acid digestion
and ICP-ES/MS analysis (MA200). Rigorous procedures are in place
regarding sample collection, chain of custody and data entry.
Certified QA/QC assay standards samples and blanks are routinely
inserted into the sample stream to ensure integrity of the assay
process. The reader is cautioned that grab samples are spot samples
which are typically, but not exclusively, constrained to
mineralization. Grab samples are selective in nature and collected
to determine the presence or absence of mineralization and are not
intended to be representative of the material sampled.
Stephen Roach, P. Geo., Chief Geologist, is a
qualified person as defined by National Instrument 43-101, for
Luckystrike's Yukon exploration projects and had supervised the
preparation of, and has reviewed and approved, the technical
information in this release.
ON BEHALF OF THE BOARD William
Chornobay President and Chief Executive Officer
For new information from the Company's programs,
please visit Luckystrike's website at LuckystrikeRes.com or contact
Jeff Stuart of King James Capital Corporation, handling Investor
Relations for the Luckystrike, 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. 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 Luckystrike has
attempted to identify important factors and risks that could affect
Luckystrike and may cause actual actions, events or results to
differ materially from those described in Forward-Looking
Information, there may be other factors and risks that cause
actions, events or results not to be as anticipated, estimated or
intended, including, without limitation: inherent risks involved in
the exploration and development of mineral properties; the
uncertainties involved in interpreting drill results and other
exploration data; the potential for delays in exploration or
development activities; the geology, grade and continuity of
mineral deposits; the possibility that future exploration,
development or mining results will not be consistent with
Luckystrike’s expectations; accidents, equipment breakdowns, title
and permitting matters; labour disputes or other unanticipated
difficulties with or interruptions in operations; fluctuating metal
prices; unanticipated costs and expenses; uncertainties relating to
the availability and costs of financing needed in the future,
including to fund any exploration programs on its projects; that
Luckystrike may not be able to confirm historical exploration
results and other risks set forth in Luckystrike's public filings
at www.sedar.com. In making the forward-looking statements in this
news release, Luckystrike 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, Luckystrike 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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