Goldstrike Resources Ltd. is pleased to report that additional prospecting, mapping and sampling along the Yellow Giant Trend has resulted in multiple new discoveries, doubling the known length of the trend from 25 to 50 kilometres and confirming the tremendous potential of this new, underexplored, district-scale gold system. Additional staking was recently completed to cover this extension of the Yellow Giant Trend, which is all contained within the Company's 100 per cent controlled Plateau property in Yukon, now covering more than 350 square kilometres.
Based on strong initial gold assays from Bonanza and Big Bang, and based on field observations of new mineralized outcrop, the Company has expanded the property by staking an additional 12 kilometres on trend to the northwest to cover the full extent of the Bonanza zone and the newly discovered Big Bang zone. The Bonanza zone consists of a swarm of vertical parallel veins that contain the most pervasive visible gold mineralization seen on the property to date, and are similar to gold-bearing veins at Goldstack. Assays from rock grab samples taken from the Bonanza Zone have ranged from below detection limit to 436.4 grams per tonne (12.69 ounces per ton) (News Release August 17, 2016). Mapping and additional sampling were recently completed on the Bonanza zone, as well as the newly discovered Big Bang zone, and assays are pending.
The Big Bang zone is a new discovery found by prospecting along trend 10 kilometres northwest of Bonanza. It contains the most widespread and concentrated mineralized stockwork and breccia seen in outcrop on the property to date. The Big Bang zone covers multiple outcrops of quartz stockwork and breccia over an area of more than four square kilometres (2.6 by 1.7 km), and remains open in all directions. The initial rock grab sample taken from this area when it was discovered in July assayed 22.4 grams per tonne gold. Extensive additional prospecting and sampling was recently completed, and Goldstrike looks forward to reporting the assay results from this work when they become available. The Company plans to apply to amend its Class 3 Exploration Permit to include the new claims that cover both the Bonanza and Big Bang zones, to accommodate future drill plans.
Based on the discovery of additional mineralized quartz veins, the Company has also expanded its Plateau South claim block approximately 10 kilometres to the east. These new discoveries have extended the Yellow Giant Trend to 50 kilometres, and it remains open.
The Company looks forward to reporting assay results from both the Big Bang and Bonanza zones, as well as assays, maps and drill section for all drill holes at Goldstack, when the results have been received.
A new map and photos of the Bonanza and Bang zones are available under the header "What's New" on the home page of Goldstrike's web site (www.goldstrikeresources.com).
Sample analysis and assaying for all of Goldstrike's projects have been conducted by Bureau Veritas in Vancouver, BC, which is ISO 9001 accredited. Soil samples are dried at 60C, and 100 grams are sieved to -80 mesh. A 15 gram sample split is then leached in aqua regia at 95 degrees C, and analyzed by a 36-element ICP package that includes semi-quantitative gold. Rock and drill core samples are crushed to 80% -10 mesh, and a 500 gram sample split is pulverized to 85% -200 mesh. 50 gram charges are then assayed for gold using fire assay fusion and ICP-ES finish with a lower detection limit of 2 ppb, and an upper detection limit of 10 ppm Au. In addition, 0.5 mg charges are digested by modified 1:1:1 aqua regia (HCl-HNO3-H20) and analyzed by 36-element ICP-MS that also includes semi-quantitative gold with a lower detection limit of 0.5 ppb Au and an upper detection limit of 100 ppm Au. Selected samples are subjected to 500 gram metallic fire assays, for which the plus fraction is finished gravimetrically and the minus fraction is finished with AA. 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. Due to the coarse nature of the gold, the Company is using metallics fire assays to capture the gold in the coarse fraction, providing the most accurate representation of the gold mineralization. Historically, regular fire assays have underestimated the grade of gold in coarse gold systems, and metallic fire assays and bulk samples can more accurately represent the true grade because they capture all gold including the coarse fraction, which otherwise could have been discarded.
Goldstrike director Trevor J. Bremner, P. Geo. is a qualified person, as defined by National Instrument 43-101, for Goldstrike's Yukon exploration projects. He has supervised the preparation of, and has reviewed and approved, the technical information in this release.
ON BEHALF OF THE BOARD,
Terrence E. King, President and Chief Executive Officer