Goldstrike Discovers Visible Gold Grading 4.65 Ounces Per Ton (159.5 Grams Per Tonne) on Yellow Giant
07 November 2011 - 3:30PM
Marketwired
Goldstrike Resources Ltd. (TSX VENTURE:GSR)(PINK
SHEETS:APRAF)(FRANKFURT:KCG1) is pleased to announce the discovery
of visible gold on its new Plateau South property, 3.5 kilometres
directly south of its Plateau North discovery. The visible gold was
found in a sample of bleached, weathered, sandstone grading 159.5
grams per tonne (4.65 ounces per tonne). Another sample of the same
rock containing no visible gold returned an assay of 30.15 grams
per tonne, confirming the presence of disseminated as well as
coarse grained gold mineralization. Goldstrike's brief
reconnaissance prospecting and sampling program was successful in
identifying multiple mineralized zones over a strike length of 2.5
kilometres that remain open in all directions. Silica alteration,
quartz veining, quartz stringers and brecciation are widespread
along a sedimentary-intrusive contact zone. An aggressive follow-up
exploration program is planned to trace the full extent of this new
trend, to be known as "Yellow Giant".
The high grade gold sample has the same lithology as the
surrounding bedrock, and was found by Goldstrike prospector Tom
Morgan during a brief reconnaissance prospecting program following
staking. Another rock sample of bleached sandstone taken 700 m
south of Morgan's high grade discovery returned 1.24 grams per
tonne gold, and was associated with a soil sample that assayed
126.9 ppb gold. Seven reconnaissance soil samples taken over a
strike length of 1.5 kilometres assayed from 23.8 parts per billion
gold to 126.9 parts per billion gold, including 3 samples over 100
parts per billion gold. The remainder of the rock, soil and silt
samples returned values ranging from below detection to 17.1 parts
per billion gold. Altogether, 56 rock samples, 49 soil samples and
7 silt samples have been taken on the Plateau South property.
Assays remain pending in respect of an additional 32 rock samples,
1 soil sample, and 7 silt samples.
The property covers Hyland Group metasedimentary rocks at the
northern margin of a Cretaceous quartz monzonite stock. Host rocks
are mineralized sandstones and conglomerates containing
disseminated to medium grained arsenopyrite and pyrite that have
been traced over 2.5 kilometres, and the mineralization remains
open in all directions. Geological Survey of Canada silt samples
taken from two creeks draining the property are anomalous in gold
and arsenic.
PLATEAU NORTH UPDATE
Phase 2 mapping on the Plateau North property shows numerous
shallow dipping shear zones that strike north-south. The main
structure is up to 3 metres thick, strikes north-northeast, and is
associated with strong silica flooding and quartz stringers. It
coincides with the Gold Rush Zone, where an anomalous soil sample
containing 1.544 grams per tonne gold, and a rock sample containing
1.292 grams per tonne gold were reported along with anomalous
arsenic, antimony, mercury, and thallium (GSR News Release
September 13, 2011). Assays for 56 of 166 rock samples, and 578 out
of 949 soil samples remain pending. Exploration in 2012 is planned
to include detailed mapping, trenching, and drilling.
NEW PROPERTIES
Using its proven technique of correlating alteration mapped with
satellite imagery, regional geochemical data, and favorable geology
and structure, Goldstrike has increased its land package at Plateau
North and, in addition, staked four new properties: Plateau South,
Plateau West, Plateau East, and Plateau Southeast, bringing its
total land holdings in the area to 154 square kilometres.
Goldstrike is currently waiting to receive assays for 105 rock, 640
soil, and 7 silt samples from all five Plateau properties.
"We are delighted to have made such a discovery associated with
multiple anomalous soils during such a brief reconnaissance
sampling program," said Goldstrike President Reimar Koch. "We have
already made several significant finds this summer and now can add
two new ones from this area. This clearly demonstrates the
potential of large areas of Yukon that were previously unexplored
for gold. We are eagerly awaiting assay results from all five of
our Plateau area properties, as well as many of our other gold
properties. We expect a steady flow of assays and look forward to
releasing news on significant results as they become
available."
Goldstrike has completed first pass exploration on all of its
twenty-four 100% controlled projects, covering more than 4,000
claims and over 80,000 hectares. Quick follow-up exploration was
also completed on six of the properties. The Company anticipates a
steady flow of news as significant results become available.
Sample analysis and assaying for all of Goldstrike's projects
are being conducted by Acme Analytical Laboratories Ltd. in
Vancouver, B.C., which is ISO 9001 accredited. Soil samples are
dried at 60C, reduced to 100 grams, and sieved to -80 mesh. A 15
gram charge is then dissolved with a 1:1:1 aqua regia digestion,
and analyzed by a 72-element combination ICP-MS and ICP-AES package
that includes gold. Rock samples are crushed and split, and 250
gram samples are sieved to 200 mesh. 30 gram charges are then
assayed for gold using fire assay fusion and ICP-ES, and in
addition, 0.5 mg charges are dissolved with a 1:1:1 aqua regia
digestion, and analyzed by 37-element ICP-MS that also includes
gold. 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.
Trevor J. Bremner, P.Geo., Senior Consulting Geologist and
Advisor to Goldstrike's Board, is a qualified person, as defined by
National Instrument 43-101, for Goldstrike's Yukon exploration
projects and supervised the preparation of the technical
information in this release. For more detailed new information on
the Plateau South and Plateau North properties, refer to recent
associated links on Goldstrike's web site at
goldstrikeresources.com.
ON BEHALF OF THE BOARD
Reimar Koch, President
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.
Contacts: Goldstrike Resources Ltd. Jeff Stuart (604) 681 1820
or Toll-free: (877) 566
9089info@goldstrikeresources.comwww.goldstrikeresources.com
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