VANCOUVER, British Columbia, Dec. 11, 2017 (GLOBE NEWSWIRE) -- Goldstrike Resources Ltd. (TSX-V:GSR) (OTC PINK:APRAF) (FRANKFURT:KCG1) is pleased to report that it has successfully completed the 2017 exploration season and is preparing for the official handover of the Plateau project to Newmont Mining Corporation (NYSE:NEM).
The Company incurred exploration expenditures in excess of $6,000,000 CAD and drilled over 2,900 meters in 2017. In addition, the Company had the benefit of the use of a number of Newmont’s proprietary exploration techniques and technologies. The resulting data, together with previously gathered data (see October 4, 2017 News Release), is currently being compiled and used for modeling.
The 2017 drilling was principally focused on understanding and modeling the controls of the high-grade gold mineralization present at surface and in core from previous drill campaigns, and successfully identified multiple key target areas and new surface gold mineralization along the 70 kilometre long Yellow Giant trend, confirming a district-scale gold mineralized system. All drill results are available on the Company’s website at www.goldstrikeresources.com. All gold mineralized targets tested in 2017 remain open along strike and to depth.
Based on the data obtained from the 2017 program and interpretations of that data, Newmont has confirmed that the 2018 drill program will consist of up to 10,000 meters utilizing multiple drill rigs to test multiple key target areas. With drill results now in hand, Newmont has commenced the process of planning that program and intends to commence its 2018 drill program as early in the new year as possible.
The 2018 program is forecasted to be the largest and most extensive drill program in the Plateau property’s history, and is expected to exceed all historical drilling meters combined. Newmont already has in process an application to the Government of Yukon for an expanded Advanced Exploration Permit in order to facilitate next year’s exploration and drilling program.
Message from Wayne Trudel, Newmont Group Executive North America Exploration
Wayne Trudel, Newmont’s Group Executive for exploration in North America, said: “Our collaboration with Goldstrike in the exploration of the Plateau Property during the 2017 field season laid a solid foundation for Newmont to further advance the Plateau project. Plateau represents a large property position on an emerging, prospective high-grade gold trend in the Yukon. Newmont expects to complete up to 10,000 meters of drilling on the property in 2018, building on the integrated geological, geochemical and geophysical modeling and targeting completed in 2017. We look forward to continuing to work closely with our partner going forward as they hand over management of the 2018 field exploration program”.
Message from Goldstrike’s President and CEO, Terrence King:
“We are pleased to have a partner in Newmont Mining that has the proprietary technologies, depth and experience to move the Plateau project forward. We are confident that our shareholders are in very capable hands as we hand over the Plateau project for 2018 and beyond. The Goldstrike team will continue to work closely with its partner going forward to assist where we can, in order to unlock the full value of the Plateau district-scale gold system. We look forward to the 2018 Plateau drill program with great anticipation.”
Stefan Kruse, Ph.D., P. Geo., Chief Geologist, is a qualified person as defined by National Instrument 43-101, for Goldstrike's Yukon exploration projects and had supervised the preparation of, and has reviewed and approved, the technical information in this release.
OTHER
Sample analysis and assaying for all of Goldstrike's projects has 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.
ON BEHALF OF THE BOARD
Terrence E. King
President and Chief Executive Officer
For new information from the Company’s programs, please visit Goldstrike’s website at GoldstrikeResources.com. For further information follow the Goldstrike’s tweets at Twitter.com/GoldstrikeRes or contact Jeff Stuart of King James Capital Corporation, handling Investor Relations for the Goldstrike, 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 and the United States Private Securities Litigation Reform Act of 1995. Forward-Looking Information includes, but is not limited to, disclosure regarding possible events, conditions or financial performance that is based on assumptions about future economic conditions and courses of action; expectations regarding future exploration and drilling programs and receipt of related permitting; and the plans for completion of the contemplated transactions with Newmont as set out above. 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 Goldstrike has attempted to identify important factors that could affect Goldstrike and may cause actual actions, events or results to differ materially from those described in Forward-Looking Information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. In making the forward-looking statements in this news release, if any, Goldstrike 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, Goldstrike 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.