Goldstream Assays up to 618 g/t Gold in Grab Samples at Titan on Hardrock East
Toronto, Ontario CANADA, October 22, 2013 /FSC/ - Goldstream Minerals Inc. (GSX - TSX Venture), ("Goldstream" or "Goldstream Minerals") is pleased to announce the discovery of multiple new gold mineralized horizons on the Titan Zone at its Hardrock East gold project in northern Ontario. Grab samples of gold mineralized quartz veins contain up to 618.4 g/t Au (18.03 ounces per short ton Au). Highlights from channel sampling of the quartz veins include 17.3 g/t Au and 4.9 g/t Ag over a sample length of 2.2 m (all results are shown in Table 1; please see attached map). Gold mineralization at Titan is associated with silver grades up to 62.3 g/t as well as anomalous copper (Table 1). Richard Kilpatrick, President and CEO of Goldstream Minerals commented: "The sample results suggest the presence of a high grade gold system at Titan. When combined with detailed geologic mapping, we have now defined multiple high priority drill targets with significant gold resource potential. Coupled with the results of our recently completed Soil Gas Hydrocarbon surveys, Goldstream has developed numerous compelling drill targets at Titan".
At Titan, the newly stripped area is underlain by strongly folded gold-bearing sugary quartz and quartz-carbonate veins that occur in association with pyrite, chalcopyrite and small amounts of galena. Visible gold has been observed locally. These veins are hosted in sheared and locally silicified/oxidized gabbro and mafic volcanic/volcanoclastic rocks, in close association with numerous quartz-feldspar porphyry dykes.
Goldstream recently reported that eight Soil Gas Hydrocarbon ("SGH") anomalies, including one surrounding the Titan Gold Showing, had been discovered (Press Release dated September 30, 2013). These SGH targets coincide with gold geochemical anomalies that form a large S-Fold pattern following a north to south trending structure. Goldstream discovered another vein system approximately 250 m south of Titan (please see map). Goldstream believes that the vein is part of the main system forming Titan. This newly discovered vein is similar to the Titan showing and returned grab sample assays ranging from 0.14 to 4.1 g/t Au. This new structure has never been drill tested. It will be a "high priority" exploration target for the next planned drill program.
In addition, a total of 99 B-horizon soils including 83 from the KLMS grid, ten from Grid 2 and six from the Lucky grid have been submitted to Actlabs for additional conventional soil assays for gold and the 1E3 multi-element package including silver, copper, lead, zinc and arsenic. These results are pending.
TABLE 1 -2013 TITAN CHANNEL SAMPLE GOLD ASSAYS
-***-
------------ ------- ---------- ------------ ----------- --------
Weighted
------------ ------- ---------- 50 gm FA ---------- ---------
Channel No From (m) To (m) Length (m) Au g/t Ag g/t Cu ppm
------------ ------- ---------- ------------ ----------- --------
C-5 2.60 4.80 2.20 0.99 2.23 308
------------ ------- ---------- ------------ ----------- --------
Including 4.40 4.80 0.40 2.53 1.10 158
------------ ------- ---------- ------------ ----------- --------
C-6 11.00 14.60 3.60 1.82 5.48 211
------------ ------- ---------- ------------ ----------- --------
Including 11.00 12.70 1.70 3.12 10.69 242
------------ ------- ---------- ------------ ----------- --------
C-7 0.00 1.50 1.50 11.40 3.58 351
------------ ------- ---------- ------------ ----------- --------
Including 0.00 0.90 0.90 18.99 5.70 569
------------ ------- ---------- ------------ ----------- --------
Including 0.20 1.50 1.30 12.44 4.01 369
------------ ------- ---------- ------------ ----------- --------
Including 0.20 0.90 0.70 23.10 7.10 665
------------ ------- ---------- ------------ ----------- --------
C-8 6.00 6.80 0.80 0.78 0.90 291
------------ ------- ---------- ------------ ----------- --------
C-8 9.00 9.70 0.70 2.54 62.30 508
------------ ------- ---------- ------------ ----------- --------
C-9 0.90 1.30 0.40 2.50 3.50 372
------------ ------- ---------- ------------ ----------- --------
C-9 4.15 4.70 0.55 1.97 0.70 239
------------ ------- ---------- ------------ ----------- --------
C-9 5.70 6.50 0.80 1.59 0.45 194
------------ ------- ---------- ------------ ----------- --------
including 5.70 6.00 0.30 2.21 1.20 270
------------ ------- ---------- ------------ ----------- --------
C-10 5.10 7.00 1.90 1.57 0.70 155
------------ ------- ---------- ------------ ----------- --------
including 6.00 7.00 1.00 2.10 0.66 203
------------ ------- ---------- ------------ ----------- --------
including 6.00 6.40 0.40 4.23 1.20 241
------------ ------- ---------- ------------ ----------- --------
C-12 0.70 3.95 3.25 1.38 1.02 156
------------ ------- ---------- ------------ ----------- --------
Including 0.70 2.35 1.65 1.43 1.21 166
------------ ------- ---------- ------------ ----------- --------
Including 0.70 1.30 0.60 3.13 2.20 239
------------ ------- ---------- ------------ ----------- --------
Including 2.35 3.95 1.60 1.33 0.83 145
------------ ------- ---------- ------------ ----------- --------
C-17 2.00 4.20 2.20 17.27 4.96 145
------------ ------- ---------- ------------ ----------- --------
including 2.00 2.40 0.40 94.60 25.30 210
------------ ------- ---------- ------------ ----------- --------
-****-
To view the image of the Kolts Lake Property in the Titan Zone, please click on the following link:
http://www.usetdas.com/pr/goldstreamimage2.jpg
About Goldstream:
Goldstream Minerals Inc. is a gold exploration and development company with its material property being the Hardrock East Gold Project located in the Beardmore-Geraldton gold camp of northern Ontario. The Hardrock East Property consists of over 350 square kilometres in the eastern portion of the Beardmore-Geraldton gold camp and is comprised of three principal targets: Titan, KLMS, and Pag Lake.
The geological information reported has been reviewed and approved by Paul Dunbar P.Geo, VP Exploration, who is a qualified person under the definitions established by National Instrument 43-101. Goldstream's QA/QC procedures are as follows: Goldstream's channel samples are 5 cm wide cut perpendicular to the strike of the vein and/or shear zone from mapped alteration in the footwall continuously through the vein and/or shear zone and into mapped alteration in the hanging wall. Channels are cut with a motorized circular saw to a depth of 10 cm and removed with a hammer. Channel sample spacing is nominally every 20 m along strike, dependent on outcrop size and geometry. Sample intervals are selected according to geologic contacts and visible mineralization, placed into a sample bag, and shipped to the assay lab for quantitative analysis of select elements. All Goldstream samples are currently being assayed by Activation Laboratories Ltd. and dropped off at their sample preparation lab in Geraldton. Blank and standard samples are routinely submitted with all sample batches sent to the lab for assay. At the completion of each program, approximately 5% of the grab/channel sample pulps are submitted to a secondary ISO certified laboratory for assay verification; currently using Accurassay in Thunder Bay.
ON BEHALF OF THE BOARD OF DIRECTORS
GOLDSTREAM MINERALS INC.
"Richard Kilpatrick"
Richard Kilpatrick
President and CEO
For further information, please contact
Richard Kilpatrick,
President and CEO at (416) 775-8774.
GOLDSTREAM MINERALS INC.
155 University Ave., Suite 1920
Toronto, ON M5H 3B7
Telephone: (416) 775-8774
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has in any way passed upon the merits of the Transaction or approved or disapproved the contents of this press release. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
Cautionary Statement Regarding Forward-Looking Information
This press release contains "forward-looking information" within the meaning of applicable Canadian legislation, concerning the business, operations and financial performance and condition of the Company. Forward-looking information includes, but is not limited to statements with respect to the anticipated developments in operations in future periods; planned exploration and development activities; the adequacy of financial resources; the interpretation of drill results; and the success of exploration activities. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled estimates", "forecasts", "intends", "anticipates", "does not anticipate", or "believes", or variations of such words and phrases or statement that certain actions, events or results "may", "could", "would", "might", "will" or "will be taken", "occur", or "be achieved". Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made, and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: unexpected events during exploration and operation; delay or failure to receive board or government approvals; timing and availability of external financing on acceptable terms; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; future prices of commodities; possible variations in resource, grade or recovery rates; failure of plant, equipment or processes to operate as anticipated; acts of terrorism; accidents, labour disputes and other risks of the mining industry; delays in the completion of development or construction activities, as well as those factors discussed herein. Although management has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements 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. The Company does not undertake to update any forward-looking statements that are incorporated herein, except in accordance with applicable securities laws.
To view the press release as a PDF file, please click on the following link:
http://www.usetdas.com/pr/goldstream10222013.pdf
Source: Goldstream Minerals Inc. (TSX-V: GSX)
Maximum News Dissemination by FSCwire. http://www.fscwire.com