Luckystrike bets on Monte Carlo gold
Mining Explorers 2019 – Published Nov. 1, 2019
Last updated 8/14/2020 at 9:24am
Since its formation in 2018, Luckystrike Resources Ltd. has been exploring Yukon gold properties spun out of Goldstrike Resources Ltd., with a primary focus on its flagship Lucky Strike gold property in the heart of the White Gold District.
The 2019 drill program at Lucky Strike targeted the expansion of two zones of gold mineralization tapped in DDLS-18-06, a 2018 hole that cut 8.3 meters averaging 1.16 grams per metric ton gold in an oxidized upper zone and 7.6 meters averaging 4.55 g/t gold within a newly discovered lower zone of sulfide mineralization at Monte Carlo.
The lower sulfide zone corresponds with an 1,800-meter-long induced polarization (IP) chargeability anomaly previously identified at Monte Carlo.
"With continued drilling success, the Luckystrike Property is poised to quickly evolve into a significant gold discovery," said Luckystrike Resources President and CEO Bill Chornobay.
To test this significant expansion potential, Luckystrike's 2019 drill program included four holes that tested an 850-meter section of the buried IP chargeability anomaly at Monte Carlo.
In addition to targeting the deeper IP anomaly, 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.
All four holes intersected sulfide mineralization that corresponds to the IP anomaly that indicates the lower sulfide zone. Assay results were pending at the time this report was written.
Monte Carlo is at the northeast end of a 10-kilometer- (6 miles) corridor running across the Lucky Strike property that hosts five large gold-in-soil anomalies – Monte Carlo, Belmont, Samson, Boss and Maverick.
"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," said Chornobay.
In addition to Lucky Strike, the company's White Gold District portfolio of properties includes Hotspot, Bull's Eye, BRC, Gold Source and King's Ransom.