VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug. 18, 2014) -
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
Newstrike Capital Inc. ("NES" or the "Company) (TSX VENTURE:NES) is pleased to announce completion of an independent NI 43-101 technical report that outlines the results of a successful exploration program on its Ejutla Property ("Ejutla" or the "Property") located in Oaxaca State, Mexico (see June 02, 2014 news release). Three significant mineralized structural corridors, each host to extensive gold and silver bearing low sulphidation epithermal veins, have been identified on the Property.
The technical report titled "Geological Report and Summary of Field Examination, Ejutla Property, Municipalities of San Pedro Taviche and San Nicolas Yaxe, District of Ocotlán and Municipalities of Santa Maria Zoquitlán and San Pedro Totolapan, District of Tlacolula, Oaxaca State, Mexico" with an effective date of July 1st, 2014 will be filed on SEDAR today. The report was completed by Mr. Robert Lunceford, M.Sc., CPG of Reno, Nevada, who concludes:
"Geochemical sampling and geologic mapping completed on the Property has indicated a style of low sulphidation gold-silver mineralization that is believed to be similar to gold-silver mineralization in the central Taviche Mining District in which the Property is located. Work completed by the Company on the Ejutla Property has been successful in advancing the Property to a stage where drill testing is warranted and necessary to determine the economic viability of the Property."
The 18,866 hectare Ejutla Property is 100% owned by Newstrike with no third party royalties. It is located 45 kilometers south of the capital city of Oaxaca de Juarez in the Oaxaca Central Valley region of Fortuna Silver's producing San José-Trinidad mine 20 km to the west of Ejutla and Gold Resources' El Aguila mine 25 km to the east, as well as several other Canadian exploration projects.
The report includes recommendations for additional exploration and drilling. The Company will evaluate the recommendations in the Report in order to select the targets and scope of work for future focused exploration programs.
"I'm extremely pleased with the progress being made on site and Ejutla's potential upside. Given the geology, mineralization, size and location, the Property is shaping up to be an attractive gold-silver exploration opportunity", stated Richard Whittall, President and CEO of Newstrike.
Previously reported highlights from surface outcrop chip and channel samples include:
||El Venado dike
||Mina del Horno
||Mina Las Jarillas
||Mina el Horno
Newstrike maintains strict QA-QC protocols for all aspects of their exploration programs that include the systematic insertion of blanks and standards into each sample batch. ALS Chemex performed assay analyses reported in this release. All samples are assayed using the laboratory's certified and industry standard assay techniques for gold and multi-element packages and for over limits; gold (Au) was analyzed by 50 gram fire assay with an atomic absorption finish, and other elements were analyzed by multi-element ICP. Silver assays over 100 g/t were reanalyzed by ICP methods for overlimits.
About Newstrike Capital (TSX VENTURE:NES)
Newstrike Capital Inc., www.newstrikecapital.com, is a precious metal focused explorer, targeting known and historic mining districts in Mexico. Key senior members of the Company's current management and directors have participated in Guerrero Gold Belt discoveries, including Goldcorp Inc.'s producing Los Filos Mine and Torex Gold Resources advanced stage Morelos Project in Guerrero State.
Newstrike holds a 100% interest in certain exploration properties in Mexico located within two established mining districts; the Au (Ag-Cu) skarn-porphyry camp of the Guerrero Gold Belt, and the polymetallic Pb-Zn-Ag (Au-Cu) rich epithermal camp of the mining districts of Oaxaca State.
Mr. Robert Lunceford, an independent Qualified Person under NI 43-101 has reviewed and approved the contents of this press release. The exploration program is conducted under the direction and supervision of Dr. Craig Gibson, PhD, CPG and Qualified Person under NI 43-101.
Neither the 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.