Goldstrike Resources Ltd.

Goldstrike Resources Ltd.

August 14, 2013 07:45 ET

Goldstrike Exploration Update

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug. 14, 2013) - Goldstrike Resources Ltd. (TSX VENTURE:GSR)(PINKSHEETS:APRAF)(FRANKFURT:KCG1) reports that it has now completed the last of its 17 holes of exploration drilling on its flagship Plateau South property, located on the Hess River in eastern Yukon. Visible gold has been identified in core from four diamond drill holes at Plateau South, including holes 2, 3 and 6 in the VG zone on Gold Dome as previously reported (July 15, 2013), and hole 4 in the Goldstack Zone, which is located approximately 18 kilometres to the west of Gold Dome along the Yellow Giant Trend. Hole 04 at Goldstack intersected mineralization with three grains of visible gold up to 2 mm in size identified in drill core at downhole depths of 17.1, 22.75 and 23.15 metres. The visible gold identified in this drill hole is associated with arsenopyrite in silicified volcanics above a 9.7 metre interval of silicified quartz breccia that contains 1 to 5 per cent arsenopyrite and pyrite over 6.4 metres and up to 20 per cent arsenopyrite and pyrite over 2.3 metres. The new drill hole at Goldstack tested the downdip extension of the same gold-mineralized silicified breccia that was intersected in a preliminary drill hole in 2012 and averaged 0.7 grams per tonne gold over a true width of 9 metres between 8.65 and 17.65 metres (News Release October 10, 2012). The structure remains open, and continues to confirm that the Goldstack Zone is part of a larger gold-mineralized system. Core from the drill program at Plateau South is being split and sent for assay. Results for all seventeen holes remain outstanding, and will be released when they become available.

The Company also reports on assay results from a trenching program carried out in early June, 2013 on the Lucky Strike property, located in Yukon's White Gold district 300 kilometres west of Plateau South. A total of 130 rock grab samples and 249 soil samples rocks were taken. The rock samples ranged from detection level to 5,839 parts per billion gold, including two rock grab samples of 5.84 and 2.25 grams per tonne gold. Soil samples ranged from detection level to 70 parts per billion gold. The program consisted of five trenches with a total length of 450 metres, and tested an area of multiple gold anomalies where a grab sample taken from bedrock in 2012 returned 41.69 grams per tonne gold (News Release October 1, 2012). All samples have been assayed. Based on these inconclusive results, additional exploration will be required to determine the gold potential of the property. This program qualified for funding by way of a $25,000 grant from the Government's Yukon Mining Incentives Program (YMIP).

A brief exploration program on the Summit property 240 kilometres southeast of Plateau South is currently underway, and results will be released when they become available. This is an eight-day program of prospecting, mapping, ground geophysics, and up to 50 metres of trenching, with a budget of $65,000. Like the Lucky Strike exploration, the Summit Program qualified for a $30,000 YMIP grant. The Company acknowledges these generous grants from the Yukon Government to help offset its 2013 exploration costs on both the Lucky Strike and Summit properties.

Sample analysis and assaying for all of Goldstrike's projects are being conducted by Acme Analytical Laboratories Ltd in Vancouver, BC, which is ISO 9001 accredited. Soil samples are dried at 60C, and 100 grams is sieved to -80 mesh. A 15 gram sample split is then leached in aqua regia at 95 degrees C, and analyzed by a 36-element ICP package that includes semi-quantitative gold. Rock samples are crushed to 80% -10 mesh, and a 250 gram sample split is pulverized to 85% -200 mesh. 30 gram charges are then assayed for gold using fire assay fusion and ICP-ES finish with a lower detection limit of 2 ppb, and an upper detection limit of 10 ppm Au. In addition, 0.5 mg charges are digested by modified 1:1:1 aqua regia (HCl-HNO3-H20) and analyzed by 36-element ICP-MS that also includes semi-quantitative gold with a lower detection limit of 0.5 ppb Au and an upper detection limit of 100 ppm Au. All samples containing visible gold or returning assays of more than 10 ppm gold are subjected to metallic fire assays, for which the plus fraction is finished gravimetrically and the minus fraction is finished with AA. 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., Chief Consulting Geologist and Goldstrike Board Member, 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.


Terrence E. King, President and Chief Executive Officer

For new photos and maps on the Plateau South property, please visit Goldstrike's website at, follow the Company's tweets at

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This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions, and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. The reader is cautioned not to place undue reliance on forward-looking statements.

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