GOLDSTRIKE samples 164 grams per tonne gold and 257 grams per tonne silver at Willie Jack and proves widespread gold mineralization over 6 kilometers
GOLDSTRIKE samples 164 grams per tonne gold and 257 grams per tonne silver at Willie Jack
and proves widespread gold mineralization over 6 kilometers
October 19th, 2020 – Goldstrike Resources Ltd. (GSR.V) (Goldstrike) is pleased to announce results from
its first pass prospecting and geochemical exploration program at its newly staked Willie Jack property in
northern British Columbia (BC). Located in the Atsulta Mountain range, t his is an area that has been
previously overlooked for its gold potential with no known historical hard rock gold showings.
The prospecting portion of the 2020 program was successful in d iscovering widespread high‐grade gold
mineralization in rock over a distance of 6 kilometers, with as says up to 164 g/t (4.78 oz/ton) gold (Au)
and 257 g/t (7.50 oz/ton) silver (Ag).
The soil geochemical survey was successful in outlining a 4.5 k m long gold‐silver‐arsenic (Au‐Ag‐As) soil
anomaly with gold values up 0.8 g/t. Upon receiving the results Goldstrike immediately extended its land
package to cover new target area s of potential mineralization. The prospecting and geochemical survey
included the collection of 185 ridge and spur soil samples and 94 rock grab samples.
Refer to this link for the 2020 sample results map.
The Willie Jack property is located in one of British Columbia’ s last frontiers and has had no documented
modern‐day gold exploration prior to Goldstrike’s 2020 summer program. Based on the quantity, grades,
and aerial extent of auriferous samples discovered, Goldstrike’s team believes there is potential to
delineate an extensive gold system in this area of previously un‐recognized gold potential in British
Columbia.
Project Generation:
The Willie Jack property is a grassroots gold target, generated in‐house by Goldstrike’s team, and covering
highly prospective ground in an underexplored area of northern British Columbia. The Goldstrike project
generation team has a solid track record of discoveries, including the Plateau property in east‐central
Yukon Territory, and the recently staked Skelly property in northern British Columbia.
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GOLDSTRIKE RESOURCES LTD.
1010 ‐1130 West Pender Street
Vancouver, British Columbia
Canada, V6E 4A4
Telephone: 604 681 1820
Facsimile: 604 681 1864
https://www.goldstrikeresources.com
https://twitter.com/GoldstrikeRes
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Location:
The 3,503‐hectare property is 100%‐owned by Goldstrike Resources with no underlying payments or
royalties. The property is situated in the Atsulta Mountain range on the Kawdy Plateau in northern British
Columbia, Canada. It is located 130 km NW of Dease Lake, BC and 70 km south of the Yukon‐BC border.
Geology:
The Willie Jack property covers a strongly anomalous regional geochemical gold‐arsenic‐antimony (Au‐As‐
Sb) signature within a geological setting that shows potential for both porphyry and intrusion‐related gold
mineralization. The property is situated at the headwaters of a historic placer gold‐bearing creek and
covers a Jurassic age granite pluton that intrudes Paleozoic sedimentary rocks. The area was briefly
prospected in the early 1970’s for its copper porphyry potential but no assays were taken for gold.
Widespread gold‐silver mineralization was discovered on the property in 2020. Grab samples of rock float
material assayed up to 164 g/t Au and 257 g/t Ag, and bedrock samples returned values up to 13.9 g/t Au
and 25 g/t Ag. Copper (Cu) values as high as 1.74 % were also obtained from bedrock samples.
Significant gold assays were returned from both granitic intrusive rocks and sedimentary rocks. The
higher‐grade gold values were returned from narrow, steeply dip ping quartz‐sulphide veins hosted in a
propylitic‐altered granite. Weakly anomalous gold values were a lso returned from granite‐hosted
gossanous fracture zones that contain disseminated fine grained pyrite. Auriferous samples obtained
from the sedimentary rocks near the granite contact consisted of quartz‐arsenopyrite veins and resemble
gold skarn mineralization. Several soil sample sites covering 4.5 kilometers of the granite‐sedimentary
rock contact display an anomalous Au‐Ag‐As +/‐ Bi‐Sb‐Te (bismuth‐antimony‐tellurium) signature, further
suggesting gold skarn mineralization. This anomaly may represen t the lode source of the placer gold in
Willie Jack Creek directly downslope, and remains a priority for the 2021 follow up program.
Refer to this link for the Willie Jack presentation.
Target Generation: Three new grassroots properties available for option
During this period of global pandemic and rising gold prices, G oldstrike’s team has been compiling and
analyzing British Columbia’s vast geological and geochemical da tabases in order to generate gold targets
in underexplored areas. While Goldstrike’s main focus will rema in advancement of the Plateau Property,
the company will continue to generate, develop, and option out grassroots gold properties in British
Columbia and Yukon Territory.
Three properties were staked by Goldstrike Resources in 2020: the Skelly, Willie Jack, and McMurdo
properties. All three of the properties ar e located in British Columbia a nd underwent reconnaissance‐
style exploration. Results of the Skelly property program can be found in the news release dated October
5th, 2020. Results are still pending for McMurdo property and will be re leased as assays are received and
compiled.
Message from the President
“This is hands down the most successful grassroots, first pass exploration program completed by the
company to date. The widespread, high‐grade gold mineralization discovered in this remote underexplored
part of northern BC is extremely encouraging. We have staked a dditional ground, thereby expanding the
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claim package in the area, and are excited to follow up on thes e new discoveries next season. The Willie
Jack property has the potential to be developed into a district‐scale discovery.
I am thoroughly impressed with our team’s results and achievements during this uncertain Covid‐19
pandemic time period. I believe Goldstrike has positioned itself well to take advantage of the current gold
bull market that continues to remain strong.”
ON BEHALF OF THE BOARD
Daithi Mac Gearailt
President and Chief Executive Officer
Carl Schulze, P. Geo., Consultin g Geologist with Aurora Geoscie nces Ltd, is a qualified person as defined
by National Instrument 43‐101 for Goldstrike's Yukon exploratio n projects, and has reviewed and
approved the technical information in this release.
For new information from the Company’s programs, please visit G oldstrike’s website at
GoldstrikeResources.com and sign up to receive news. For further information, follow Goldstrike’s tweets
at Twitter .com/GoldstrikeRes, use the ”Contact” section of our website, or contact us at (604) 681‐1820
or 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 historic al 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 assumption s about future economic conditions and
courses of action; expectations regarding future exploration an d 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
o t h e r f a c t o r s t h a t c a u s e a c t i o n s , e v e n t s o r r e s u l t s n o t t o b e 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 Fo rward‐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‐
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Looking Information contained in this news release to reflect events or circumstances after the date hereof
or to reflect the occurrence of unanticipated events.