Goldstrike Samples 8.18 Ounces Per Ton Within New District-Scale System
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 09/18/12 -- Goldstrike Resources Ltd. (TSX VENTURE: GSR)(PINKSHEETS: APRAF)(FRANKFURT: KCG1) is pleased to report that it has traced bonanza grade gold mineralization on its Plateau South property in Yukon over a distance of 13 kilometres in a zone that remains open to the northwest. Gold in numerous new rock grab samples ranging from detection limit up to 280 grams per tonne (8.18 ounces per ton) is believed to be associated with mapped regional scale folding and deformation.
At the newly discovered VG zone, ground geophysics has confirmed a large structure below bonanza grade mineralization taken from outcrop/subcrop at surface. This structure is believed by the Company's consulting geologists to be the source for the gold, and is drill ready. At this location, high grade mineralization has been found over an area of at least 2,000 by 140 metres, and the zone remains open in all directions. Several other high grade mineralized zones have also been defined along the gold-mineralized Yellow Giant trend, including the Goldbank zone, with rock grab samples up to 34.25 grams per tonne (1 ounce per ton). These zones and intervening mineralization are associated with a regional deformation system is a zone of converging fold closures and intersecting linears trending south east and containing gold mineralization that has been traced for at least 13 kilometres and remains open, providing for multiple strong drill targets. Ten kilometers west of the Goldbank zone, the Goldstack zone is located at the most westerly extent of the Yellow Giant trend and also remains open. Channel samples up to 14.25 grams per tonne gold over 2.4 metres were previously reported from trenches in the Goldstack zone, and an exploratory drill hole intersected 9 meters of the mineralized zone (estimated true thickness) in drill core (Goldstrike News Release 2012-08-12). Drill assays are pending.
To view the figure associated with this press release, please visit the following link: http://media3.marketwire.com/docs/819767_fig.pdf
VG Zone
Prospecting and mapping at the VG zone have so far returned seventeen high grade grab samples ranging from 3.57 to 280 grams per tonne (see table). This includes sample 1246149, which exceeded the fire assay threshold of 100,000 parts per billion gold, and is being resampled by metallics fire assay to get a total gold assay. Results are pending. Based on positive results from a test soil line across the VG zone, a tight spaced grid of soil samples was established, and assays on those remain pending.
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VG ZONE SAMPLES greater than 1.0 GRAMS PER TONNE GOLD
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Sample ID Au (grams per tonne) Au (ounces per ton)
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1247401 280.60 8.18
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1246140 210.26 6.13
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1235599 159.48 4.65
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1246149 (Over-limit, submitted for greater than 2.92
metallics assay) greater than 100.0 assays pending
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1247402 65.15 1.90
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1246144 60.51 1.76
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1235594 30.15 0.88
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E5542160 25.00 0.73
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124186 (2011 sample) 19.71 0.57
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1247606 17.95 0.52
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1246142 13.02 0.38
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124185 (2011 sample) 8.86 0.26
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1235583 8.69 0.25
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1247403 4.97 0.14
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1247405 4.17 0.12
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1247132 3.89 0.11
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1246141 3.57 0.10
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1235582 2.78 0.08
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1247409 2.40 0.07
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1235588 1.85 0.05
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E5542560 1.61 0.05
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1247205 1.59 0.05
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1246143 1.19 0.03
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Ground magnetics from the VG showing area indicate a large north-south structure at least two kilometres in length that is axial planar to shallow-plunging open fold closures, and remains open to the north. This structure is believed to be the source of the bonanza grade gold mineralization taken from subcrop/outcrop, and is drill ready. Drilling is planned to trace the full extent of the gold mineralization along strike and to depth.
Goldbank Zone
The Goldbank trend occurs as multiple gold-bearing linears that splay off the Hess River Break, and are stacked over a 500 metre width. The zone is 11 kilometres long, with numerous rock grab samples ranging from detection limit up to 34.25 grams per tonne (1.0 ounces per ton), including 15 samples over 3 grams per tonne, 6 samples over 6 grams per tonne, and 3 samples over 11 grams per tonne. The zone is drill ready, and remains open to the northwest.
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GOLDBANK ZONE SAMPLES greater than 1.0 GRAMS PER TONNE GOLD
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Sample ID Au (grams per tonne) Au (ounces per ton)
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1247181 34.25 1.00
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1244449 26.99 0.79
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1244714 24.70 0.72
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1244441 14.54 0.42
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1247125 11.10 0.32
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1244439 7.23 0.21
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1247116 7.01 0.20
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1246389 6.95 0.20
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1246112 4.81 0.14
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1247180 4.44 0.13
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1247113 4.40 0.13
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1246320 4.15 0.12
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1246388 4.08 0.12
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1247181 3.94 0.12
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1246399 3.53 0.10
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1244715 3.24 0.09
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1247179 3.19 0.09
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1244488 3.05 0.09
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1246110 2.54 0.07
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1247124 2.07 0.06
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1247109 2.03 0.06
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1246385 1.89 0.06
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1244442 1.86 0.05
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1244438 1.30 0.04
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E5542597 1.30 0.04
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1247128 1.29 0.04
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E5542596 1.21 0.04
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1244712 1.17 0.03
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1244450 1.17 0.03
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1244440 1.12 0.03
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1244713 1.09 0.03
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1246114 1.07 0.03
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1244446 1.05 0.03
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Goldstack Zone
The Goldstack Zone is a structurally controlled quartz breccia within an area of extensive quartz veining, stockwork and brecciation that has produced numerous samples containing visible gold. Three channel samples cut across the strike of the zone have returned average values of 14.25 grams per tonne over a total length of 2.4 metres. Individual channel sample results include 23.82 grams per tonne over 1 metre, and 7.71 grams per tonne over 1 metre. Another channel sample cut across strike 7 metres to the east returned a weighted average of 7.29 grams per tonne gold over 1.3 metres, including 40.1 grams over 10 cm (GSR News Release, 2012-08-20). An exploratory drill hole intersected the Goldstack mineralized zone in core over 9 metres true thickness. Drill core assays are pending. Gold mineralization has been found on trend for 4 kilometres and remains open in all directions. Follow-up drilling is planned.
"We are very excited about the results to date," said Goldstrike President and CEO Terry King. "These new showings demonstrate the continuity of the Yellow Giant Trend and the entire System. It seems we may be seeing only the tip of the iceberg, and it has been suggested by our geologists that we may be seeing the earliest indications of a new gold district. We look forward to the upcoming drill results with great anticipation, and we are confident that our results to date justify a very aggressive exploration program next season."
Altogether a total of 1,690 rock samples, 134 soil samples, and 31 silt samples were taken on the Plateau South property in 2012, and 82 soil sample assays and 6 silt sample assays remain pending. All drill core assays are pending. Rock samples assayed to date range from detection limit to 280 grams per tonne gold, plus a metallics assay that remains pending. Soil samples range from detection limit to 316.2 parts per billion (0.3163 grams per tonne) gold, and silt samples range from detection limit to 19.5 parts per billion (0.0195 grams per tonne) gold.
Sample analysis and assaying for all of Goldstrike's projects are being conducted by Acme Analytical Laboratories Ltd. in Vancouver, B.C., which is ISO 9001 accredited. Soil samples are dried at 60C, reduced to 100 grams, and sieved to -80 mesh. A 15 gram charge is then dissolved with a 1:1:1 aqua regia digestion, and analyzed by a 72-element combination ICP-MS and ICP-AES package that includes gold. Rock samples are crushed, split, and 250 gram samples are sieved to 200 mesh. 30 gram charges are then assayed for gold using fire assay fusion and ICP-ES, and in addition, 0.5 mg charges are dissolved with a 1:1:1 aqua regia digestion, and analyzed by 37-element ICP-MS that also includes gold. Rigorous procedures are in place regarding sample collection, chain of custody and data entry. Certified assay standards, duplicate samples and blanks are routinely inserted into the sample stream to ensure integrity of the assay process.
Note: Grab samples are selective by nature, and are unlikely to represent average grades on the property.
Trevor J. Bremner, P. Geo., Senior Consulting Geologist and Advisor to Goldstrike's Board, is a qualified person, as defined by National Instrument 43-101, for Goldstrike's Yukon exploration projects and supervised the preparation of the technical information in this release.
For more detailed new information and maps on the Plateau area properties, see Goldstrike's web site at www.goldstrikeresources.com.
ON BEHALF OF THE BOARD
Terrence E. King, President and Chief Executive Officer
For further information, please visit the company's website at www.GoldstrikeResources.com.
Neither 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.
Contacts:
King James Capital Corporation
Jeff Stuart
Investor Relations
(604) 805-0375
jstuart@kingjamescapital.com
Goldstrike Resources Ltd.
1300 - 1111 West Georgia Street
Vancouver, British Columbia, Canada, V6E 4M3
(604) 681-1820 or Toll free: 877-566-9089
(604) 681-1864 (FAX)
www.goldstrikeresources.com
