Goldstrike Identifies Drill Target on Oliver Gold Property
15 November 2011 - 1:45PM
Marketwired
Goldstrike Resources Ltd. (TSX VENTURE:GSR)(PINK
SHEETS:APRAF)(FRANKFURT:KCG1) is pleased to announce that follow-up
sampling of its Oliver property has confirmed previous results
which included 4.003 grams per tonne gold in a grab sample (see
news release August 9th, 2011). Another grab sample taken from
outcrop five metres from the first sample during a short second
pass program late in the season has just been reported at 3.154
grams per tonne gold. Both samples were taken from what is now
known as the "Midas Touch Gold Zone".
The Midas Touch Zone strikes northeast-southwest for 880 metres
and remains open. It is clearly recognizable as a dark silicified
mafic volcanic layer in contact with a dark colored metasedimentary
rock. As a result of the second program, a drill target has been
identified along the northwest extension of the zone. The drilling
will confirm the full extent of the gold zone where two of the
highest grade samples have been found to date, and trenching is
also recommended to expose the true thickness and the downdip
extent of the open gold mineralized unit. The target is accessible
by an existing trail that extends 2.3 two kilometres from a four
wheel drive road along Bear Creek.
Sixteen rock grab samples collected during the follow-up program
returned values between 1.9 parts per billion and 3,154 parts per
billion (3.154 grams per tonne) gold. Every one of these grab
samples showed elevated levels of one or more of the following
elements: copper, cobalt, lead, zinc, silver, arsenic, antimony,
and bismuth, with multiple samples exceeding the upper detection
limit of the analysis. Assays from 321 soil samples are still
pending.
The Oliver property is primarily underlain by metasedimentary
rocks of the Proterozoic to Lower Cambrian Hyland Group, in
proximity to several high level granite and quartz monzonite
intrusions of Cretaceous age. Metamorphic grade appears to decrease
across the property, with muscovite schist with phyllite and
quartzite clasts on the east side to lower grade phyllite and
quartzite in the west. Areas of brecciation and quartz veining in
the north and south parts of the property are considered to be
favorable target areas that require follow-up, as well as a 2.2 km
long soil anomaly running northeast-southwest across the centre of
the property, parallel to and six kilometres southeast of the Midas
Zone that was identified as a result of the Phase I sampling.
Oliver is a large property covering more than 94.5 square
kilometres, and is densely vegetated. The results of the 2011
reconnaissance sampling program have been very encouraging to date,
and most of the property has yet to be explored. A program for
summer 2012 is planned to consist of drilling, trenching, and
detailed mapping, prospecting, and sampling.
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, 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 Oliver property, refer
to recent associated links on Goldstrike's 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) 566-9089 (604) 681-1864
(FAX)info@goldstrikeresources.comwww.goldstrikeresources.com
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