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Drilling taps lower Monte Carlo gold zone


Last updated 9/26/2019 at 7:07pm

LuckyStrike Resources Ltd.

This hole, drilled this year at the Monte Carlo zone on the Lucky Strike property, cut 22 meters of 0.90 g/t gold.

Luckystrike Resources Ltd. Aug. 19 announced the completion of a 1,106-meter drill program targeting the expansion of the Monte Carlo zone on the Lucky Strike property in Yukon's White Gold District.

Goldstrike Resources Ltd., which spun out Lucky Strike and other Yukon gold properties into Luckystrike Resource in 2018, first encountered gold at Monte Carlo while trenching an 1,800-meter-long induced polarization geophysical anomaly in 2016. That company followed up with a small drill program in 2017, including one hole that cut 22 meters of 5.36 grams per metric ton gold.

Luckystrike continued this work last year. One of the holes drilled in 2018, DDLS-18-06, cut 8.3 meters averaging 1.16 g/t gold in an upper zone and 7.6 meters of 4.55 g/t gold in a newly discovered lower zone comprised of a broad gold-sulfide-rich unit. This lower zone directly corresponds to the large IP anomaly at Monte Carlo and represents a newly discovered, unoxidized lower zone of sulfide gold mineralization.

Designed to further define the strike and depth of mineralization at Monte Carlo, the four holes drilled this year covered a strike length of about 850 meters and the deepest hole reached a vertical depth of 316 meters.

In addition to targeting the IP anomaly at depth, two of the 2019 holes also targeted newly discovered mineralization in surface trenches completed in 2018.

Hole DDLS-19-02 was drilled adjacent to trench LSTR-18-02, which encountered 22 meters of 0.90 g/t gold; and DDLS-19-04 was drilled adjacent to trench LSTR-18-01 which encountered 30 meters of 0.94 g/t gold.

LuckyStrike Resources Ltd.

An aerial view of the holes LuckyStrike Resources drilled this year at Monte Carlo.

All four holes intersected sulfide mineralization that corresponds to the IP anomaly that indicates the lower sulfide zone. Assay results are expected in September.

"With the summer drill program successfully completed, we look forward to receiving the assay results from the Monte Carlo zone," said Luckystrike Resources President and CEO Bill Chornobay. "The presence of sulfides at depth is very encouraging; positive assay results would greatly expand the strike extent of the gold-rich sulfide zone discovered in 2018. This would extend the zone to 825 meters of strike-length and set the stage for future infill and expansion drilling on Monte Carlo and for exploration drilling on strike along the 10-kilometer (six miles) corridor that remains to be drill tested."



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