News is out
Strike Minerals drills 0.4 m of 298 g/t Au at Nicholson
2009-06-09 19:49 ET - News Release
Mr. Denis Crane reports
STRIKE MINERALS INC. (STK-TSXV) INTERSECTS 298.43 GPT AU OVER 0.46 MAT A VERTICAL DEPTH OF 40.5 M ON MAIN SHOWING OF NICHOLSON GOLD PROPERTY
Strike Minerals Inc. has released results from the recently completeddiamond drill program on the main showing of the Nicholson goldproperty located north of Missinabie, Ont.
In October, 2008, Strike Minerals acquired an option on theNicholson gold property after initial investigation and surface grabsamples returned grades as high as 188.92 grams per tonne gold. InNovember, 2008, a channel sampling program over the main showingreturned individual assays as high as 112.10 grams per tonne gold over0.46 metre. Sampling of the south-east portion of the showing returneda weighted average grade of 14.77 grams per tonne gold over 1.52 metresfor 57.3 metres, and sampling of the northwest portion of the showingreturned a weighted average grade of 8.95 grams per tonne gold over1.52 metres for 16.3 metres.
The Nicholson gold property lies in the eastern portion of the Wawa(Michipicoten) greenstone belt and is underlain predominantly byintermediate to felsic metavolcanics. Northwest-trending shear zonesand tension shears have been identified hosting pinch and swell quartzveining with sulphides, and in some instances, visible gold.
In late May, 2009, Strike Minerals completed a diamond drill program onthe main showing consisting of 30 drill holes for 1,153.2 metres. Theprogram was developed to test for gold mineralization along the lengthof the main showing at staggered vertical depths from 10 to 55 metres.
The drilling program was carried out by Superior Diamond Drilling of Sault Ste. Marie, Ont., providing NQ-sized core.
All samples of diamond drill core taken during the program were assayedfor gold by Swastika Laboratories of Swastika, Ont., an accreditedlaboratory. Accurassay Laboratories of Thunder Bay, Ont., providedcertified reference material of three standards which were insertedinto the sampling stream every 20 samples to provide a qualityassurance check of the Swastika Laboratory results.
Two of the 30 diamond drill holes did not reach the targeted depth, and one hole had to be abandoned due to caving.
SUMMARY OF SIGNIFICANT INTERSECTIONS
NICHOLSON MAIN SHOWING DIAMOND DRILL PROGRAM
Hole No. Location Azimuth Dip Length (m) From (m) To (m) Grade (g/t)
N-1-09 0+10W 0+30N 190 -46 0.80 22.40 23.20 3.79
N-3-09 0+50W 0+33N 225 -47 1.50 10.10 11.60 6.37
N-4-09 0+75W 0+40N 252 -60 0.76 26.06 28.82 5.49
N-7-09 0+50W 0+35N 225 -70 0.30 15.85 16.15 12.82
N-9-09 0+50W 0+35N 244 -70 1.82 25.91 27.89 1.72
N-10-09 0+50W 0+30N 190 -47 1.83 14.93 16.76 3.02
N-11-09 0+50W 0+30N 190 -70 0.46 24.53 24.99 1.99
N-13-09 1+50W 0+43N 258 -52 0.91 28.50 29.41 12.04
N-25-09 3+25W 0+39N 255 -67 0.60 46.02 46.62 1.94
N-26-09 2+40W 0+85N 225 -55 0.46 49.44 49.90 298.43
N-29-09 0+44W 0+85N 225 -68 1.52 57.00 58.52 3.70
N-30-09 1+50W 0+61N 186 -56 1.52 39.47 40.99 9.94
It is evident that gold distribution within the pinchand swell quartz veining is random and exhibits the nugget effect,however, Strike Minerals management is encouraged by the geologicalenvironment, the continuity of the veining system, and the numerousinstances of visible gold. The quartz veining and gold grades have beentraced over 140 metres on strike and there is potential for the zone tocontinue to both the northwest and southeast.
In recognition of the potential for the continuation of the zone,Strike Minerals entered into an option agreement with Golden Chalicefor claims surrounding the current Nicholson property (see pressrelease dated March 31, 2009, as reported in Stockwatch).
Strike Minerals is currently compiling all data from the drill program.
Technical information contained in this news release was prepared byStrike Minerals management and approved by Robert Hill, PEng, aqualified person for the purposes of National instrument 43-101. TheTSX Venture Exchange does not accept responsibility for the adequacy oraccuracy of this release.