RE: 1.216 Ounces Per Ton Gold at Lucky Strike LUCKY STRIKE PROPERTY (WHITE GOLD DISTRICT, YUKON)
GOLDSTRIKE SAMPLES 41.687 GRAMS PER TONNE GOLD (1.216 OUNCES PER TON GOLD) ON 410 METRE GOLD MINERALIZED STRUCTURE THAT REMAINS OPEN
Goldstrike has just received fire assay results of 41.687 grams per tonne (1.216 ounces per ton) gold from a rock grab sample taken from bedrock on its Lucky Strike property, Yukon. The high grade sample was taken along a gold-mineralized structure that trends east-northeast for 410 metres and remains open. This new discovery has been named "Lucky Shot". The Lucky Shot structure was discovered by follow up prospecting of strong gold in soil anomalies .The structure was traced in an area of little outcrop using high resolution ground geophysics that confirms it passes through the mineralized outcrop and beyond. The Lucky Strike property contains widespread gold soil anomalies over a 7 kilometre strike length, returning values up to 703.7 parts per billion gold to date. These gold anomalies coupled with high resolution airborne geophysics indicate excellent potential for additional gold-mineralized structures to be discovered on the property.
The Lucky Strike property is located in the heart of the White Gold District. It is contiguous with the Kinross Golden Saddle property, 12 kilometres south-southeast of Comstock's QV property, and 30 kilometres north-northeast of Kaminak's Coffee Creek property. The gold-mineralized Lucky Shot structure has the same east-northeast orientation reported for the Golden Saddle deposit, as well as Comstock's recently announced trench intersections (3.31 grams per tonne gold over 95 metres, and 3.74 grams per tonne gold over 75 metres), and many of the main mineralized zones at Coffee Creek.
The new 41.687 gram per tonne (1.216 ounces per ton) gold sample consists of sheared, brecciated felsic schist, with strong silica, sericite, and pyrite alteration and contains finely disseminated dark grey sulphides. The assay record shows elevated values of silver, molybdenum, antimony, lead, and arsenic, all of which are also reported to be anomalous on the Golden Saddle property (Underworld Resources NI43-101 Report).
Goldstrike is very excited to have already established such a strong drill target in exposed highly gold-mineralized bedrock on the Lucky Shot structure. The host rock, gold mineralization, geochemistry, and structure closely resembling those on the Kaminak, Kinross, and Comstock properties. The Company looks forward to a program of additional high resolution ground geophysics and trenching, in order to define the full lateral extent of this new gold mineralized structure, and a drill program to define the full geometry of the gold mineralization to depth and along strike. The company is also planning a program of follow up prospecting on multiple gold soil anomalies along a 7 km strike.
Goldstrike looks forward to receiving drill results from its flagship Plateau property in the immediate future. Based on overall results from the 2012 season, the Company is planning an aggressive exploration program including trenching and diamond drilling on the Plateau, Lucky Strike and Summit properties.
The Company is also pleased to report it has accepted an invitation to speak on its Selwyn Basin prospects at the Yukon Geoscience Forum, to be held in Whitehorse November 18 to November 21.
The gold anomaly on Solomon's Summit covers a large area with limited outcrop with high grade bedrock samples taken to date of 5.3, 8.7 and 9.92 grams per tonne gold within a well defined gold mineralized structure that remains open. The geological age, host lithology, structure, and geochemistry resemble ATAC's recent description of its Conrad zone, and Goldstrike's team believes Solomon's Summit has many indicators for a significant new gold discovery. Trenching and diamond drilling is planned.