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Luckystrike Resources Provides Update on Exploration Project

Luckystrike Resources Ltd. recently announced the successful completion of the 2019 drill program on the Lucky Strike Property. Four diamond drill holes were drilled for 1,105.82 m and 796 core samples were transported to Bureau Veritas for assay.

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At present, all assays are pending and should be ready in early September.

Drilling concentrated on the Monte Carlo Zone and was directed at a 1.8 km-long induced polarization (IP) chargeability anomaly. During the 2018 drill program, this anomaly was intersected in diamond drill hole DDLS-18-06, producing 4.55 g/ton Au over 7.6 m at a vertical depth of 170 m. This intersection is important as it signifies a newly discovered, unoxidized lower zone of sulfide mineralization.

Spanning a strike length of 825 m, the 2019 drilling program includes the deepest hole being drilled to a vertical depth of 316 m. Sulfide mineralization was intersected in all holes inside an orthogneiss unit. IP results specify that these intercepts indicate the lower zone.

The four holes bored as part of the 2019 drill program were designed to better define the strike and depth of mineralization at the Monte Carlo Zone with a footprint of about 1500 x 450 m found through rock sampling, soil sampling, geophysical surveys, and trenching. The Monte Carlo Zone is the northern-most zone of the 10-km-long, SE-trending Lucky Strike Corridor.

Besides targeting the chargeable anomaly in-depth, two of the four holes also targeted mineralization recently discovered in surface trenches finished in 2018. Hole DDLS-19-02 was drilled next to trench LSTR-18-02, which produced 0.90 g/ton Au over 22.0 m. Hole DDLS-19-04 was drilled next to trench LSTR-18-01, which produced 0.94 g/ton Au over 30.0 m.

The Lucky Strike Property, situated at the center of the Yukon’s White Gold District, is wholly owned by Luckystrike Resources Ltd. with no underlying royalties or payments.

With the summer drill program successfully completed, we look forward to receiving the assay results from the Monte Carlo Zone. The presence of sulphides at depth is very encouraging; positive assay results would greatly expand the strike extent of the gold-rich sulphide zone discovered in 2018.

William (Bill) Chornobay, President and CEO, Luckystrike Resources Ltd.

Chornobay continued, “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 corridor that remains to be drill tested.”


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