VANCOUVER, British Columbia, July 10, 2017 (GLOBE NEWSWIRE) -- Goldstrike Resources Ltd. (TSX-V: GSR ) (OTC PINK:APRAF) (FRANKFURT: KCG1 ) is pleased to announce that it has commenced a program of mechanized trenching, ground geophysics, geochemistry and diamond drilling on its 100% owned Lucky Strike property in the White Gold Camp of Central Yukon, 30 kilometres northwest of Goldcorp’s Coffee Creek deposit and 15 kilometres east of White Gold Corp.’s Golden Saddle deposit.
In preparation for the 2017 drill program, the Company will use mechanized trenching to define the full dimensions of the extensive gold mineralization in bedrock identified in samples taken in the newly discovered Monte Carlo Zone during 2016. Trench sample results of 0.42 gpt gold over 154 metres (incl.0.76 gpt/78 m and 3 gpt/8 m) are comparable in both grade and width to the original discovery trenches at the Golden Saddle and Coffee Creek gold deposits (News Release September 26, 2016).
Many of the trenches in Goldstrike’s 2016 program terminated in gold mineralized bedrock and will be extended in the upcoming program. Step-out trenches within the 1450 by 350 meter gold in soil anomaly at Monte Carlo will focus on a linear induced polarisation geophysical anomaly that coincides with both anomalous gold in soil geochemistry and trenches. Diamond drilling will systematically test these targets to fully determine the scale and extent of the Monte Carlo gold mineralization along strike and to depth.
The four other large gold in soil anomalies that define the 10-kilometre long gold corridor on the Lucky Strike property - Belmont, Samson, Boss and Maverick - all remain open for expansion. Ground geophysical surveys, soil geochemistry and mechanized trenching will focus on delineating additional diamond drill targets.
Goldstrike owns a 100% interest in the Lucky Strike, BRC, Kings Ransom, Goldsource, Hotspot and Bullseye properties free and clear of all encumbrances, including royalties. Goldstrike’s holdings in the White Gold District total 1970 claims and its total Yukon land holdings including the Plateau property now total 4,704 claims covering over 1,000 square kilometres.
Further detailed property information is available at www.goldstrikeresources.com .
James Moors, P. Geo., Chief Geologist, is a qualified person, as defined by National Instrument 43-101, for Goldstrike's Yukon exploration projects and supervised the preparation of, and has reviewed and approved, the technical information in this release.
ON BEHALF OF THE BOARD
Terrence E. King President and Chief Executive Officer
For new information from the Company’s programs, please visit Goldstrike’s website at GoldstrikeResources.com . For further information follow the Goldstrike’s tweets at Twitter.com/GoldstrikeRes or contact Jeff Stuart of King James Capital Corporation, handling Investor Relations for the Goldstrike, by telephone at (604) 210-2150 or by email at jstuart@kingjamescapital.com .
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.
Forward-Looking Statements
Statements contained in this news release that are not historical facts are "forward-looking information" or "forward-looking statements" (collectively, "Forward-Looking Information") within the meaning of applicable Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. Forward-Looking Information includes, but is not limited to, disclosure regarding possible events, conditions or financial performance that is based on assumptions about future economic conditions and courses of action; and the plans for completion of the contemplated transactions with Newmont as set out above. In certain cases, Forward-Looking Information can be identified by the use of words and phrases such as "anticipates", "expects", "understanding", "has agreed to" or variations of such words and phrases or statements that certain actions, events or results "would", "occur" or "be achieved". Although Goldstrike has attempted to identify important factors that could affect Goldstrike and may cause actual actions, events or results to differ materially from those described in Forward-Looking Information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. In making the forward-looking statements in this news release, if any, Goldstrike has applied several material assumptions, including the assumption that general business and economic conditions will not change in a materially adverse manner. There can be no assurance that Forward-Looking Information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on Forward-Looking Information. Except as required by law, Goldstrike does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
