Goldstrike Mobilizes for Lucky Strike Drilling and Exploration Program
Goldstrike Mobilizes for Lucky Strike Drilling and Exploration Program
May 22, 2018 – Goldstrike Resources Ltd. (GSR.V) is pleased to provide details of the upcoming 2018
exploration program at its 100% -owned Lucky Strike Property , located in the heart of The White Gold
District, Yukon. The program comes as a highly anticipated follow-up to 2017’s first ever drill program on
the Monte Carlo zone and the discovery drill hole that returned 5. 36 grams per tonne gold over 22
metres (November 20, 2017 news release ). It is anticipated that the program will be carried out in its
entirety by Lucky Strike Resources Ltd., which is pr oposed to be spun -off by Goldstrike as a new publicly
traded company pursuant to the Arrangement Agreement announced on May 16, 2018.
Lucky Strike Drilling
The advanced exploration permit recently issued to the Company by the Yukon Government will
accommodate the most extensive diamond drill program to date . The 2018 program will focus on the
expanding the Monte Carlo discovery Zone, which remains open. (Lucky Strike Property Map). Targeting
will be based on previous drill results, previous tr ench results, data from ground and airborne
geophysical surveys, and soi l geochemistry. Using that data, Goldstrike plans to both define the
orientation of the mineralization and determine the extent of the strike length of the zone. Initial drilling
will occur over ~700 meters along strike and ~300 meters across strike.
Geophysics
In addition to diamond drilling, the 2018 exploration program will include a nine kilometre induced
polarization (IP) survey. The IP survey will be conducted on the Monte Carlo zone where a previous IP
survey was successful in identifying key mineralized structures that remain open. IP has proven to be
one of the key tools used in delineating drill targets and was used in 2017 to plan the discovery hole. The
2018 IP survey will expand upon the 2017 survey, extending it to the north where the anomaly remains
open.
Trenching
Based on the success at the Monte Carlo Zone, additional mechanical trenching is planned for all th e
zones along the ten kilometre Lucky Strike gold trend , focused on delineating additional drill targets
(detailed below). Trenching will be primarily focused on untested areas of soil geochemistry and is
planned to exceed 1000 meters.
Prospecting/Soil Sampling
Extensive areas with strong gold potential on the Lucky Strike Property remain unexplored. A large area
of strategic staking was done southeast of the Maverick zone which is thought to have strong gold
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potential and also remains completely unexplo red. A systematic program of prospecting and soil
sampling is planned for this area to confirm its gold potential. The 2017 property wide LiDAR survey
identified numerous key structures that will also receive follow -up prospecting and sampling to test for
gold potential during the 2018 program.
Lucky Strike 10 Kilometre Gold Mineralized Trend
The Lucky Strike Property lies 30 kilometres northwest of Goldcorp’s Coffee Creek deposit and 15
kilometres east of White Gold Corp.’s Golden Saddle deposit, and is 156 square kilometres in size.
There are five large gold -in-soil anomalies on the Lucky Strike property within a ten kilometre long
northwest–southeast oriented trend of gold mineralization . A ll five anomalies remain open for
expansion and four have yet to be drilled. This trend is coincident with a magnetic geophysical anomaly
which is now believed to repres ent a regional-scale shear zone. Highlights of the zones are summarized
below (See October 12th, 2017 News Release ):
Monte Carlo
• 1450x450 metre geochemical anomaly with samples containing up to 1.9 g/t Au in soil ;
remains open
• Returned 5.36 grams per tonne gold over 22 metres from drilling. The zone remains open and
true thickness is not known.
• Returned 0.42 grams per tonne gold over 154 metres from trenching, true thickness is
unknown.
• Early stage results indicate the presence of a structurally controlled zone of mineralization that
remains open.
• First drilled in 2017 and all nine holes successfully intersected gold mineralization.
Belmont
• 1500 x 800 metre geochemical anomaly with soil samples containing up to 254 ppb gold.
• Similar magnetic feature to the Monte Carlo Zone
• Remains to be drilled
Samson
• 600 x 300 metre geochemical anomaly with up to 91 ppb Au in soil samples.
• Returned 0.32 grams per tonne gold over 12 metres from trenching including six meters of
0.41 grams per tonne gold. True thickness of this zone is not known.
• Visible gold was observed in rock from a hand dug pit. A grab sample from this location
returned 1.1 grams per tonne gold.
• Remains to be drilled
Boss
• 1000 x 1000 metre geochemical anomaly with soil samples containing up to 700 ppb gold and
9.9 ppm silver.
• Returned up to 41.7 grams per tonne gold from rock grab samples
• Remains to be drilled
Maverick
• 150 x 200 metre geochemical anomaly with up to 90 ppb Au in soil samples
• Remains to be drilled
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100 % Owned Hotspot Property Exploration Program
In addition to the Lucky Strike program, exploration will also be conducted on Goldstrike’s Hotspot
Property; located 80 kilometres west-northwest of Lucky Strike, in the White Gold District on the Yukon -
Alaska border. The inaugural 2017 program at Hotspot yielded very promising early stage results. The
Sure Bet discovery zone is a 100 x 150 metre geochemical anomaly that yielded soil samples assaying up
to 4.1 grams per tonne gold and rock samples from hand pits assaying up to 0.39 grams per tonne gold
(November 21 news release). The zone remains open to the north and south.
A mechanical trenching program is planned at the Sure Bet zone to determine the source and extent of
the high-grade soil samples and the nature of the mineralization in preparation for drilling.
Outside of the Sure Bet zone, exploration will focus on the catchment area of a creek which yielded a
regional stream sediment sample containing 123 pp b gold (a 99th percentile sample in the Yukon
regional stream sediment database) . T his area is believed by the Company’s geological team to have
excellent potential to produce another discovery.
Additional reconnaissance prospecting and soil sampling is also planned for the rest of the property
located in key geologic terrane.
Four Other 100 % owned White Gold District Properties
Goldstrike Resources also holds the King’s Ransom, Goldsource, BRC and Bullseye properties in the
White Gold District. Although multiple anomalies were discovered on each of those properties during
the 2017 season (see aforementioned news releases), the 2018 White Gold program will be focused on
Lucky Strike and Hotspot (White Gold Properties Map).
Message from Terry King, President and CEO:
“We look forward to an exciting exploration season for our White Gold properties. The excellent
exploration results to date , coupled with the fact that all six properties are 100% owned with no
underlying royalties or property payments, make these assets a solid foundation on which to build Lucky
Strike Resources Ltd. as a stand-alone public company while Goldstrike focuses on its joint venture with
Newmont on Goldstrike’s Plateau Project.”
OTHER
Sample analysis and assaying for all of Goldstrike'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. Analysis includes AQ200 modified 1:1:1 aqua regia (HCl -HNO3-H20) digestion and 36 -
element ICP-MS which includes semi-quantitative gold with a lower detection limit of 0.5 ppb Au and an
upper detection limit of 100 ppm Au. In addition gold content is analysed using the ICP -ES FA350-Au fire
assay procedure. Over -limit samples are analysed using the FA530 -Au fire assay with gravimetric finish
and FA652-Au metallic screen fire assay procedures. 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 proce ss. The reader is
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cautioned 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 representative of the material sampled.
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.
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 emai l at
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”) wit hin the meaning of
applicable Canadian securities legislation. Forward -Looking Information includes, but is not limited to,
the timing and completion of the Arrangement and proposed financings of Luckystrike, the satisfaction
of the conditions under the Ag reement and the expected benefits of the Arrangement . 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 and risks 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 and risks that cause actions, events or results not to be as anticipated, est imated or intended,
including, without limitation: not receiving the requisite shareholder or regulatory approvals for
completion of the Arrangement or otherwise satisfying the conditions thereto; failure to complete the
proposed financings on acceptable t erms or at all; 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 ge ology, grade
and continuity of mineral deposits; the possibility that future exploration, development or mining results
will not be consistent with Goldstrike’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 pro grams on its projects; that
Goldstrike may not be able to confirm historical exploration results and other risks set forth in
Goldstrike's public filings at www.sedar.com . In making the forward -looking statements in this news
release, Goldstrike has applie d several material assumptions, including the assumption that general
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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 a nd 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 publicl y 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.