VANCOUVER, B.C., October 4, 2023 – Goldstorm Metals Corp. (TSXV: GSTM) (FRA: B2U) (“Goldstorm” or “the Company”) is pleased to report that the 2023 diamond drill exploration program (the “Program”) has been successfully completed on its 100% owned Electrum gold and silver property (the “Property”), located within the Golden Triangle region of British Columbia, Canada. Included in this release are the assay results from the first two drill holes.
The Property is located north of, and adjacent to, Scottie Resources’ claims, and along a well-defined trend of former gold-silver producers that includes Ascot’s Premier Mine to the south. The project area is road accessible from Stewart, BC. The Program at Electrum totaled 2,581 meters (m) in 11 drill holes. The first two drill holes tested broad, intrusive-related stockwork zones of gold-silver mineralization, with the remaining holes testing multiple shear-hosted, high-grade precious and base-metal veins. Results for the remaining nine drill holes will be published once they are obtained and evaluated.
Ken Konkin P. Geo., President and CEO comments; “Our team is very pleased with the results from the initial two holes that were completed on Goldstorm’s maiden exploration drill program at Electrum. The holes intersected gold and silver mineralization typical of the grades that were reported in the discovery holes at Tudor Gold’s Treaty Creek Project, 35 km to the north, particularly within the gold-dominant domains of the Goldstorm Deposit. The originally discovered precious metal mineralization at Electrum underlies a prominent silicified knob, which was explored by historical drill holes that were oriented in the opposite direction from the newly discovered zone. Hole EL-23-01 contains significant gold mineralization with some anomalous silver at the bottom of the hole, while drill hole EL-23-02 ended in gold mineralization. Although the mineralized intercepts are approximately 200 m apart, the mineral continuity appears promising for this system. Further drilling is required to fully test this target laterally and to depth.”
Drill Hole Results
Click to view plan map and cross section.
EL-23-01: This hole targeted a broad, possible porphyry-related area of gold-silver mineralization, that had been observed in one historical drill hole. The first hole successfully intersected a stockwork vein system hosted within silicified, fine-grained volcanic rocks that averages 1.13 g/t Au and 6.02 g/t Ag over 61.5 m within a broader envelope of 0.77 g/t Au and 4.43 g/t Ag over 111.0 m.
EL-23-02: Drilled from the same location as EL-23-01, this hole was oriented steeply to cut moderately dipping veins at surface and to explore for porphyry-related mineralization at depth. Near-surface mineralization was successfully intersected with a 37.3 m interval averaging 0.78 g/t Au and 1.65 g/t Ag. Further down hole, a 149.0 m intercept returned 0.45 g/t Au and 3.20 g/t Ag. This hole ended in mineralization.