2017 Exploration Program Update on Goldstrike's Yukon Plateau Property
VANCOUVER, British Columbia, Oct.04, 2017(GLOBE NEWSWIRE) -- 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.