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Mining Explorers 2015: Goldstrike Resources Ltd.

 

Last updated 11/1/2015 at Noon



GSR: TSX-V

Chairman, President and CEO: Terry King

Chief Operating Officer: William Chornobay

Chief Geologist: Trevor Bremner

Goldstrike Resources Ltd. continues to find visible gold on surface and in the core from drilling at its Plateau Project in central Yukon Territory.

Within the first two days of an early-season prospecting program at Plateau, four samples with visible gold were taken from new target areas up to 550 meters away from the 2013 Gold Dome discovery hole - 7.6 grams per metric ton gold over 9.03 meters in hole PSVG13-03 - at Plateau.

Following up on this surface exploration, the company drilled 11 holes (912 meters) at the Gold Dome and Goldstack zones on the property.

Multiple grains of visible gold were cut in two of the eight holes drilled at Gold Dome in 2015.

Hole PSVG15-02, collared 45 meters south-southeast of PSVG13-03, cut 3.48 g/t gold over two meters at a downhole depth of 71.5 meters.

PSVG15-06, which targeted a blind geophysical anomaly at Gold Dome, cut four previously unknown gold mineralized zones downhole, including 9.09 g/t gold over 1.5 meters near surface, and 12.65 g/t gold over 0.5 meters at a depth of 117 meters.

Goldstrike said this discovery significantly expands the area of known gold mineralization on Gold Dome and shows the potential for new gold-bearing zones along strike and at depth.

PSVG15-08, which targeted the zone discovered in PSVG13-03, cut 18 meters (nine meters true width) of strongly mineralized quartz stockwork with visible gold in numerous locations.

PSGS15-01, which was drilled 30 meters southeast of a seven-meter-wide outcrop at the Goldstack zone with abundant free native gold, cut 17.25 meters (true width) averaging 13.25 g/t gold.

Hole PSGS15-02, drilled vertically from the same setup as hole one, cut 2.35 g/t gold over 40.5 meters (38.1 meters true width).

Goldstrike said this hole confirmed that the gold mineralization is getting thicker to depth, and remains open.

Hole PSGS15-03, which was set up on the discovery outcrop and drilled roughly down-dip, confirmed the continuity and consistency of the gold mineralized zone.

The hole averaged 1.78 g/t gold over its entire 94.5-meter length.

These three drill holes show that the gold mineralized body is consistent and widens to depth, and have significantly expanded its dimensions that remain open.

Further drilling is planned to trace the full extent of the high-grade gold mineralized system.

Goldstrike says the visible gold now found at all three zones at Plateau - Gold Dome, Goldbank, and Goldstack - indicate that they are part of a single, large gold system that stretches along the surface for about 25 kilometers and to a depth of more than 1,000 meters.

Cash and short-term deposits: C$695,586 (June 30, 2015)

Working capital: C$680,981 (June 30, 2015)

Market capitalization: C$13.2 million (Sept. 17, 2015)

1300-1111 West Georgia Street, Vancouver, B.C. Canada V6E 4M3

Tel: 604-681-1820 • Fax: 604-681-1864

http://www.goldstrikeresources.com

 

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