Goldstrike Drills 3.04 grams per tonne gold over 7.73 m in the White Gold District – Yukon

VANCOUVER, British Columbia, Jan. 16, 2018 (GLOBE NEWSWIRE) -- Goldstrike Resources Ltd. (TSX-V:GSR) (Frankfurt:KCG1) (OTC PINK:APRAF) is pleased to report the results from the final hole of the 2017 Lucky Strike drill campaign. Hole DDLS-17-08 returned 3.04 g/t Au over 7.73 metres (including 1.52 metres of 14.0 g/t Au) in diamond drill core. DDLS-17-08 was drilled at an azimuth of 230⁰ and was collared 40 metres west of discovery hole DDLS-17-09 that returned 5.36 g/t Au over 22 metres. DDLS-17-09 was drilled at an azimuth of 180⁰ (Table 1).

Goldstrike successfully completed 1,032 m of diamond drilling in nine shallow exploratory holes that constituted the 2017 drill program at Lucky Strike. All nine holes successfully intersected gold mineralization (Map 1 – Drill Plan).  All assay results from 2017 have now been reported. The mineralized zone remains open at depth and in all directions.  This drill program utilized HTW large diameter size core to optimize recovery due to the brittle and highly oxidized nature of the near surface gold mineralization.  Additional maps and sections can be viewed at: Lucky Strike Project.

Based on the success of this first pass exploratory drill program and with its advanced exploration permit in place, Goldstrike is currently planning for the largest exploration program in the history of the Lucky Strike property. The team is currently compiling the large volume of data acquired in 2017 in preparation for phase two exploration and drilling. The data compilation includes geophysics, geochemistry, mapping and high resolution airborne photography, and 3D property-wide terrane modeling that will allow advanced targeting methods along the 10 km Lucky Strike gold corridor.

Gold mineralization is exposed at surface in the Monte Carlo Zone in a series of silicified and heavily oxidized zones that have a subtle linear topographic expressions and a strong geochemical association with silver, bismuth, tellurium, mercury, antimony, molybdenum and copper.

The Monte Carlo Zone is one of five large gold-in-soil anomalies along a 10 kilometre trend on the property and measures 1450 m by 450 m. Only the Monte Carlo zone has been drill tested to date. All five zones have been defined by a combination of soil geochemistry, mechanized trenching and prospecting, and are coincident with ground and airborne geophysical anomalies.  The four other large gold-in-soil anomalies are the Belmont zone, measuring 1,500 by 800 meters, the Samson zone, measuring 600 by 300 meters, the Boss zone, measuring 1,000 by 1,000 meters, and the Maverick zone, measuring 200 by 150 meters.  All five zones remain open. Collectively, this gold mineralized trend is coincident with a magnetic geophysical anomaly which is believed by the Company’s geological team to represent a regional scale shear zone, providing for additional strong discovery potential on the Lucky Strike property. The Lucky Strike property covers over 150 square kilometers and remains largely unexplored.

Table 1 – Drill highlights from the 2017 program.

¹True thickness of mineralized zone unknown
²Drill recovery locally below 50% in some samples
³Drill recovery locally below 30% in some samples

STATEMENTS

Message from Terry King, President and CEO:

“The Lucky Strike property is a unique and very attractive asset with excellent infrastructure, including an airstrip. The property is 100% owned without the burden of any underlying royalties or property payments, and is strategically located along the planned haul road to Goldcorp’s Coffee Creek gold deposit. The results to date demonstrate that the project is one of the most important new gold discoveries in the White Gold Camp in 2017 and has all the makings for a flagship standalone project. We are now finalizing our 2018 plans and look forward to optimizing the project’s value for our shareholders. With the largest drill and exploration campaign to date being laid out for Lucky Strike, the 2018 season promises to be an exciting time for this project.”

OTHER

Sample analysis and assaying for all of Goldstrike's projects have been conducted by Bureau Veritas Mineral Laboratories Canada (formerly Acme Analytical Laboratories Ltd) in Vancouver, BC, which is ISO 9001 accredited laboratory.  Rock and drill core samples are crushed, split and pulverized to 250 g pulp, 200 mesh.  Analysis includes AQ200 modified 1:1:1 aqua regia (HCl-HNO3-H20) digestion and 36-element ICP-MS which includes semi-quantitative gold with a lower detection limit of 0.5 ppb Au and an upper detection limit of 100 ppm Au.  In addition gold content is analysed using the ICP-ES FA350-Au fire assay procedure. Over-limit samples are analysed using the FA530-Au fire assay with gravimetric finish and FA652-Au metallic screen fire assay procedures.  Rigorous procedures are in place regarding sample collection, chain of custody and data entry.  Certified QA/QC assay standards samples and blanks are routinely inserted into the sample stream to ensure integrity of the assay process.

Stefan Kruse, Ph.D., P.Geo., Chief Geologist, is a qualified person as defined by National Instrument 43-101 for Goldstrike's Yukon exploration projects and supervised the preparation of, and has reviewed and approved, the technical information in this release.

Please visit the Company’s website at http://www.goldstrikeresources.com to see new maps and drill sections under what's new on the home page.

ON BEHALF OF THE BOARD

Terrence E. King

President and Chief Executive Officer

For new information from the Company’s programs, please visit Goldstrike’s website at GoldstrikeResources.com. For further information follow the Goldstrike’s tweets at Twitter.com/GoldstrikeRes or contact Jeff Stuart of King James Capital Corporation, handling Investor Relations for the Goldstrike, by telephone at (604) 210-2150 or by email at jstuart@kingjamescapital.com.

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 historical 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 assumptions about future economic conditions and courses of action; expectations regarding future exploration and 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 other factors that cause actions, events or results not to be 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 Forward-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-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.