Goldstake Explorations Inc.

Goldstake Explorations Inc.

September 13, 2007 09:02 ET

Goldstake; VMS Base Metals at McVittie, Ontario, Canada

TORONTO, ONTARIO--(Marketwire - Sept. 13, 2007) - Goldstake Explorations Inc., (TSX:GXP)(FRANKFURT:GOO) -

Goldstake Explorations Inc. wishes to report on the progress of exploration on its wholly-owned "Rose" project in McVittie Township, located in the Kirkland Lake-Larder Lake region of Ontario. Goldstake has recently completed trenching and rock sampling using a rock saw to sample and evaluate zinc-copper mineralization on this volcanogenic base metals sulphide occurrence.

Rock samples collected by Goldstake during the initial examination of the "Rose" zinc occurrence returned zinc values ranging 0.3 to 11%. Goldstake's recent trenching program has focused in an area of historic pits and trenches exposing an area of outcrop measuring 33 x 22 meters which is mostly mineralized by stringers and disseminated to semi-massive masses of pyrite with traces of pyrrhotite, chalcopyrite and sphalerite mineralization. The zinc-copper occurrence is hosted in a dark cordierite-bearing metavolcanic unit referred to as "dalmatianite-like". Mineralization exposed in the area of Goldstake's trenching is part of a shallow dipping mineralized body with a surface exposure measuring roughly 75 x 60 meters. A total of 58 channel samples were cut across the mineralization during the recent program. Rock samples have been submitted to SGS Lakefield Research Limited for analysis for zinc and copper. The "Rose" zinc-copper occurrence coincides with one of two parallel aeromagnetic features. An historic ground magnetic survey by Noranda in 1971 suggests the mineralization may strike for 500 meters. Sections of the "Rose" occurrence have also been historically tested by several short drill programs which report grades similar to those found by Goldstake's initial sampling.

Goldstake is very encouraged by results of the trenching program, noting sphalerite mineralization in several areas throughout the sections of outcrop during the program. Further zinc-copper exploration of the "Rose" occurrence this season will include geological mapping and additional rock sampling. A ground magnetometer-electromagnetic survey will be initiated in early winter after freeze up.

Goldstake's claims over the "Rose", and co-incident magnetic responses, cover a total area of 1280 acres. Goldstake acquired the claims in February/March 2006 and owns 100% title. These claims are Northwest and adjoin the McGarry property, on which Goldstake is currently earning a 75% interest from Transpacific Resources Inc

Mr. Robert Dillman, P.Geo is the qualified person for this report and is responsible for its content under the terms of National Instrument 43-101.

Goldstake Explorations Inc. is a Canadian company, listed on the Toronto, Canada, and Frankfurt, Germany stock exchanges. Goldstake is a mining, exploration and development company with projects in Canada, Australia and the United States.

Contact Information

  • Goldstake Explorations Inc.
    Robert Cleaver
    (416) 201-9223 or Goldstake Office: (905) 829-3393