Goldstrike Resources Ltd.

Goldstrike Resources Ltd.

September 01, 2011 09:15 ET

Goldstrike Discovers Intrusive Related Gold Mineralization in Yukon

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 1, 2011) - Goldstrike Resources Ltd. (TSX VENTURE:GSR)(PINK SHEETS:ADRAF)(FRANKFURT:KCG1) is pleased to report that initial rock samples from outcrop have returned up to 4.003 grams per tonne gold on its road-accessible OLIVER property located in the Yukon's 7.6 million ounce Red Mountain-Dublin Gulch Gold District. This rock sample was also strongly anomalous in numerous other elements, including 6,560 ppm Cu, 1,247 ppm Pb, 1,744 ppm Zn, >100 ppm Ag, 102.1 ppm Ni, >2,000 ppm Co, >10,000 ppm As, 35.7 ppm Cd, 86.9 ppm Sb, >2,000 ppm Bi, >100 ppm Se, and >100 ppm W. The sample shows a strong intrusive signature and was taken in an area where a high-level stock of Cretaceous granite has formed tourmaline-matrix breccias, veins, and skarns in Hyland Group metasedimentary rocks. The Hyland Group is the same unit that forms the host rock at ATAC's Osiris discovery, and government geologists have suggested that metasediments in the Red Mountain-Dublin Gulch area also have potential for Carlin-style mineralization.

In addition, a total of 24 reconnaissance soil samples from the Phase I reconnaissance program have returned significant anomalous gold values ranging from 15 to 50.7 ppb Au, including 5 samples between 30 and 40 ppb Au, and 6 samples between 20 and 30 ppb Au. The anomalous samples are widely distributed across the southwest, southeast, central and northeast parts of the property. Anomalous soils in the centre of the property are associated with an area of strong hydroxide alteration shown on a LandSat image. Approximately 100 additional claims have been staked based on these very encouraging Phase I results. A Phase II program is planned to include mapping, ground geophysics, and mechanical trenching, in preparation for drilling.

Goldstrike's claims are adjacent to Golden Predator's extensive Scheelite Dome property south of Red Mountain (best drill intersection to date 25.40 m grading 11.1 g/t Au). They cover four regional gold silt anomalies, and several active placer creeks. One prolific placer creek drains a newly discovered quartz-sulphide breccia that has been identified as a potential source of coarse, angular gold. The OLIVER property was first staked for tin in the 1970s, and drill intersections were reported grading more than 1% Sn over more than a core length of more than 4m, but gold was not assayed. A government study in 1992 demonstrated a strong correlation between gold and bismuth, and suggested that bismuth can be used as a pathfinder for gold in this area.

Goldstrike has completed the first pass exploration programs on most of its 24 Yukon gold properties to date, and expects to report a steady flow of news as significant results become available.

The technical data in this news release has been reviewed and approved by Trevor J. Bremner, P. Geo., who is a qualified person as defined in National Instrument 43-101. For more detailed information on these properties, refer to Goldstrike's web site at


Reimar Koch, President

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