Luckystrike Resources Trenches 0.42 Grams PER Tonne GOLD over 44 Meters ON New Hot Spot Property
LUCKYSTRIKE RESOURCES LTD.
1010 - 1130 West Pender Street
Vancouver, British Columbia
Canada, V6E 4A4
Telephone: 604 568 8807
Facsimile: 604 681 1864
TSX-V: LUKY IR: 604 805 0375
LuckyStrikeRes.com
LUCKYSTRIKE RESOURCES TRENCHES 0.42 GRAMS PER TONNE GOLD OVER 44 METERS ON NEW HOT
SPOT PROPERTY
September 10, 2018 – Luckystrike Resources Ltd. (LUKY.V) is pleased to report that it has successfully
completed its planned exploration program s on the 100% owned Hot Spot property, located in the
White Gold District , Yukon Territory. The 2018 program included mechanized trenching, prospecting,
soil sampling, and a detailed ground-based magnetic survey . Results of the 2018 program have met or
exceeded the goals set by the company’s geological team.
Trenching
Mechanized trenching completed on the Hot Spot property has returned significant gold grades at the
newly discovered “Sure Bet Zone”. The Sure Bet Zone is now drill ready. Highlights from the 2018
trenching program include:
0.42 g/t Au over 44 m including 2.44 g/t Au over 2 m at TR-HS-01 (Figure 1)
1.92 g/t Au over 2 m at TR-HS-03
A total of 234 m of mechanized trenching was completed over the Sure Bet Zone in 2018. The Sure Bet
is an extensive gold-in-soil anomaly that has been has been expanded to 1 kilometer long and up to 250
meters wide, and remains open to the north (see press release dated November 21, 2017 ). The 201 8
trenching program, below the soil anomaly, has confirmed gold mineralization in bedrock hosted within
a large shear zone (Figure 2). The 2018 trench results can be seen on Map 1.
Soil Sampling
The gridded soil sampling that expanded the Sure Bet Zone in 2018 included one sample which returned
a value of 1.2 g/t Au and over 14 samples containing greater than 200 ppb Au. 53 samples returned 1
ppb Au or less. A total of 420 soil samples were taken on the property. See Figure 2 below for the
summary of the 2018 soil results.
Prospecting
Grab samples containing up to 0.32 g/t Au were collected within the Sure Bet soil anomaly. A total of 60
rock grab samples were taken on the Hot Spot property in 2018. Of these, 52 samples contained 50 ppb
Au or less.
Ground Magnetic Survey
A total of 27 line-kilometers of ground-based magnetic survey was completed over the Sure Bet Zone on
the Hot Spot property. The survey has delineated a magnetic low that coincides with the gold-in-soil
anomaly and with the 2018 trench containing 0.42 grams per tonne gold over 44 meters.
Phase 2 Exploration at Hot Spot
A Phase 2 follow -up exploration program is underway on the Hot Spot Property. The focus of the
program will be to expand the soil grid to the north to define the full extent of the gold anomaly and
additional ground magnetic surveying to further delineate the full extent of the Sure Bet Zone (Figure
3), in preparation for drilling.
Update on Lucky Strike Property
Exploration on the 156 square kilometre flagship Lucky Strike Property has been completed. Lucky Strike
is located in the heart of the Yukon’s White Gold District and is 100% -owned by Lucky Strike Resources
with no underlying payments or royalties (video update).
Diamond drilling focused on the Monte Carlo zone totalled 1359.71 meters over eleven holes; assays are
pending. Drilling spanned a strike length of 700 m, expanding on the 2017 1033m drill program ( 2017
discovery hole assayed 5.36 grams per tonne gold over 22 metres - November 20, 2017 news release).
An induced polarization (IP) survey wa s also completed at the Monte Carlo zone totalling 8.2 kilometers
across 5 lines. The survey expanded upon a 2016 survey, and successfully delineated a prominent
controlling structure on the Monte Carlo Zone an additional 1100 m to the northwest.
The Company is also pleased to announce the completion of the most extensive mechanized trenching
program to date on the property. Trenching was completed across all known target zones within the 10
km trend. Eleven trenches totalling 1865.5 meters (1.865 kilometers) were done: two at Monte Carlo
(213 m), two at Belmont (810 m), one at Samson (150 m), five at Boss (526 m), and one at Maverick
(166.5 m). Assays are pending . Details of these gold -in-soil target zones can be found in the May 22,
2018 news release.
The 2018 exploration also included a widespread reconnaissance soil sampling and prospecting program
on the large, under -explored southeast half of the property. 2540 soil samples and 148 rock grab
samples were taken. Sampling was largely directed by structures identified through a 2017 pro perty-
wide LIDAR survey.
Assays for all phases of the Lucky Strike program are pending and will be reported once they are
received compiled and interpreted.
Message from William (Bill) Chornobay, President and CEO:
“We are very exited about th e Hot Spot discovery that is now drill ready . The results on Hot Spot are a
strong testament to the teams’ ability as project generators to take an original idea like Hot Spot from
paper to being drill ready in ~45 days on very small budget. The combination of the Lucky Strike Property
and Hot Spot with our additional four 100% owned White Gold properties provides Luckystrike Resources
a solid foundation on which t o build. I would also like to take this opportunity to thank the Yukon
Government for the financial contributions provided by YMEP helping to fund our exploration programs .
Working Together We Succeed.”
Other
Sample analysis and assaying for all of Luckystrike’s projects have been conducted by Bureau Veritas
Mineral Laboratories Canada (formerly Acme Analytical Laboratories Ltd) in Vancouver, BC, which is ISO -
9001 accredited laboratory. Rock and drill core samples are crushed, split and pulverized to 250 g pulp,
200 mesh. For gold analysis a 50 g split is fire assayed with an ICP-ES finish (FA350-Au). Samples assaying
>10 ppm Au are run with a gravimetric finish (FA550 -Au). Samples also undergo a 45 -element assay
which involves a multi-acid digestion and ICP-ES/MS analysis (MA200). Rigorous procedures are in place
regarding sample collection, chain of custody and data entry. Certified QA/QC assay standards samples
and blanks are routinely inserted into the sample stream to ensure integrity of the assay process.
The reader is cautio ned that grab samples are spot samples which are typically, but not exclusively,
constrained to mineralization. Grab samples are selective in nature and collected to determine the
presence or absence of mineralization and are not intended to be representat ive of the material
sampled.
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
William Chornobay
President and Chief Executive Officer
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 the Luckystrike, by telephone at (604) 210-2150 or by email at [email protected].
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 cons istent 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 Luckystr ike'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 reli ance 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.