Luckystrike Resources Completes Phase Two on Hotspot Property and Expands Claims
VANCOUVER, Sept. 24, 2018 - Luckystrike Resources Ltd. (LUKY.V) is pleased to announce that it has completed its phase 2 exploration program at the Hot Spot property, White Gold District, Yukon Territory.
The phase 2 program consisted of:
- 165 soil samples (assays pending)
- 18 rock grab samples (assays pending)
- 30-line km ground based magnetic survey
- Addition of 20 quartz mineral claims
A gridded geochemical soil survey was designed to expand the Sure Bet gold-in-soil anomaly to the north, also tracing a recently identified, coincident geophysical magnetic low (Figure 1). In addition to the geochemical soil survey, rock grab samples were taken from hand excavated pits at the sites of anomalous gold-in-soil samples (see press release dated September 10th 2018).
To compliment the new geochemical samples a tightly spaced ground-based magnetic survey, comprising a total of 30-line km was completed to the north of the Sure Bet zone. This survey ties onto the existing phase 1 survey of 27-line km that was completed earlier this year. Ground magnetic surveys have proven to effectively delineate the mineralized host rock which successfully returned 0.42 g/t Au over 44 m in trenching (see press release dated September 10th 2018).
Twenty mineral claims totaling over 407 hectares were also added to the Hot Spot property (Figure 2). The new claims were added to north to cover prospective ground, indicated by the 250 meters x 1000 meter gold-in-soil anomaly that remains open to the north and a magnetic low feature that is believed to represent the host rock that returned 0.42 gpt Au over 44 meters (video update).
Assay results from the flagship Lucky Strike property are pending and are expected in the near future. These results will be reported as soon as results are received, compiled, and interpreted. For details of the 2018 exploration program at Lucky Strike please see the September 10th, 2018 press release.
Bill Chornobay President and Chief Executive Officer comments:
We are very pleased with the progress made on the new drill ready Hotspot property and our flagship Luckystrike property, both of which have no underlying royalties or property payments. We look forward to reporting results in the near future.
Stefan Kruse, Ph.D., P. Geo., Chief Geologist, is a qualified person as defined by National Instrument 43- 101, for Luckystrike's Yukon exploration projects and had supervised the preparation of, and has reviewed and approved, the technical information in this release.
ON BEHALF OF THE BOARD
Bill Chornobay President, Chief Executive Officer and Director
For new information from the Company's programs, please visit Luckystrike's website at LuckystrikeRes.com or contact Jeff Stuart of King James Capital Corporation, handling Investor Relations for Luckystrike, 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. 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 Luckystrike has attempted to identify important factors and risks that could affect Luckystrike and may cause actual actions, events or results to differ materially from those described in Forward-Looking Information, there may be other factors and risks that cause actions, events or results not to be as anticipated, estimated or intended, including, without limitation: inherent risks involved in the exploration and development of mineral properties; the uncertainties involved in interpreting drill results and other exploration data; the potential for delays in exploration or development activities; the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with Luckystrike’s expectations; accidents, equipment breakdowns, title and permitting matters; labour disputes or other unanticipated difficulties with or interruptions in operations; fluctuating metal prices; unanticipated costs and expenses; uncertainties relating to the availability and costs of financing needed in the future, including to fund any exploration programs on its projects; that Luckystrike may not be able to confirm historical exploration results and other risks set forth in Luckystrike's public filings at www.sedar.com. In making the forward-looking statements in this news release, Luckystrike 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, Luckystrike 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.
