Goldstrike Discovers Drill Ready Gold Zones at Livingstone
09 November 2011 - 1:45PM
Marketwired
Goldstrike Resources Ltd. (TSX VENTURE:GSR)(PINK
SHEETS:APRAF)(FRANKFURT:KCG1) is pleased to announce that first
pass exploration has resulted in the discovery of two drill ready
gold targets on its Livingstone gold property. The newly discovered
zones appear to be potential sources for the coarse placers that
are actively being mined downstream. One of the zones produced a
grab sample that returned 8,226.5 parts per billion (8.2265 grams
per tonne/0.24 ounces per ton) gold from a structure that is over
600 metres long and 70 meters wide. The other zone produced a grab
sample that returned 802 parts per billion (0.802 grams per tonne)
from a structure over 400 metres long. These two gold-mineralized
structures both remain open, and cover the headwaters of several
placer creeks, including Cotoneva, Lake and Summit Creeks, which
together account for most of the 50,000 ounces of recorded placer
production in the Livingstone Gold Camp. A total of seven parallel
structures have been identified on the property in a 5 kilometre by
3-kilometre area, providing multiple targets for follow-up
exploration, and the Company has sited the first drill hole. This
new gold trend has been named "Golden Gate".
Zone 2 is a strong drill target consisting of graphitic quartz
vein material in the wall of a recessive, linear structure that is
over 600 metres long, 70 metres wide and 3 to 5 metres deep, and
remains open. The vein material contains very fine-grained grey
sulphides that are inferred to be silver and lead, based on initial
assay results. A grab sample of quartz-sulphide vein subcrop from
Zone 2 returned 8,226.5 parts per billion (8.2265 grams per tonne)
gold, along with 121.5 parts per million arsenic, 7,828.2 parts per
million lead, 103.1 parts per million molybdenum, and more than 100
parts per million silver (fire assay results for the gold and
silver are pending).
Zone 1 is a drill-ready quartz vein containing coarse sulphides
that splays off a parallel linear recessive structure over 400
metres long, 50 metres wide, and 3 to 5 metres deep that remains
open. The vein varies from 30 to 60 centimetres in width and was
traced for 15 metres before disappearing beneath overburden. It
contains coarse-grained galena, chalcopyrite, malachite, and
azurite. A grab sample returned 584.7 parts per billion (0.584
grams per tonne) gold, 27 parts per million silver, 1,397 parts per
million copper, and 5,924 parts per million lead, and a fire assay
of the same sample returned a value of 802 parts per billion (0.802
grams per tonne) gold. The vein is hosted in quartz-sericite
schist, chlorite schist, and quartzite.
A number of other grab samples taken from the Golden Gate trend
also returned strongly anomalous gold values. Results for 68 rock
grab samples ranged from below detection level to 8,226.5 parts per
billion gold, including 14 samples that returned values over 15
parts per billion gold, and ten grab samples that returned values
over 100 parts per billion gold. Five of the ten most anomalous
gold samples returned elevated silver values ranging from 4.9 parts
per million (4.9 grams per tonne) to more than 100 parts per
million (more than 100 grams per tonne). Goldstrike's first pass
reconnaissance program was focused on mapping and prospecting, and
the only soil sample taken returned a background value of 0.23
parts per billion gold.
The seven open parallel structures that comprise the Golden Gate
trend appear to be surface expressions of underlying recessive
faults or shear zones that can act as mineral bearing fluid
pathways, as indicated by the gold-mineralized quartz vein material
found at Zone 1 and Zone 2. Ground magnetometer and radiometric
spectrometer surveys were conducted over several of the parallel
northwest-trending structures and showed very favorable responses,
confirming the geological structures underlying several of the
lineaments. Follow-up exploration is planned to trace the full
extent and gold potential of these open-ended structures.
The Livingstone Camp has produced at least 50,000 ounces of
placer gold to date (Yukon Geological Survey, 2006). Livingstone
area creeks are being actively mined today for coarse nuggets
greater than 1 cm in size, some of which contain quartz. There is
no fine grained or flour gold with these nuggets. All of these
factors suggest the gold comes from a local bedrock source and not
a mixed glacial deposit, consistent with the findings of Stroink
and Friedrich in 1992. These authors compared the chemistry of the
nuggets and the mineralogy and fluid inclusions from quartz
attached to nuggets in Livingstone area gold creeks with the
chemistry of gold from local quartz-sulphide veins and the
mineralogy and fluid inclusions from vein quartz, and concluded
that the placer nuggets were sourced by quartz-sulphide veins in
the local metamorphic bedrock.
"People have been looking for the source of the Livingstone
placers for decades," said Goldstrike President Reimar Koch. "We
have discovered two new drill ready gold zones to test at the head
of the most prolific placer creeks in the Livingstone Gold Camp.
This summer's exploration program has far exceeded our
expectations, with 8 new discoveries so far at Oliver, Lucky
Strike, Big One, Summit, Cando 2, Plateau North, Plateau South and
now Livingstone. Results are still pending from first and second
pass exploration on multiple properties, and thousands of assays
remain outstanding. We expect a steady flow of news for the
foreseeable future, and we look forward to next summer's
exploration season with great anticipation."
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.
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, 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.
Note: Grab samples are selective by nature, and are unlikely to
represent average grades on the property.
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 Livingstone property,
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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