TSX-V: GSR
Chairman, President and CEO: Terry King
Chief Operating Officer: William Chornobay
Chief Geologist: Trevor Bremner
Goldstrike Resources Ltd. continues to find new zones of visible gold across its 3,500-hectare (8,650 acres) Plateau South property in the Yukon Territory. The most recent such discovery was made at a zone called Bonanza, which is located about 4,000 meters away from and along trend with the Goldstack zone, one of the three primary gold zones along a 50-kilometer- (31 miles) trend at Plateau South. In July, the company reported that initial mapping of a 12- by 20-meter outcrop at Bonanza zone identified the most pervasive coarse visible gold seen in bedrock on the Plateau property to date, and has returned grab samples up to 436.4 g/t gold. Further investigations of the area turned up a second high-grade showing, Bonanza North, about 100 meters north of the initial discovery. A third showing was found on trend and 160 meters southeast of Bonanza North. The 2016 exploration discovered at least five other new zones – Goldback, Goldbar, Gold Standard, Goldworks and Big Bang. Follow-up mapping, prospecting and ground geophysics are planned to delineate drill targets at these new zones. “These new discoveries have significantly expanded the known extent of this new district-scale gold system,” said Goldstrike Director Trevor Bremner. Upon receiving a five-year advanced exploration permit for Plateau in June, Goldstrike said it plans to complete up to 20,000 meters of drilling in 200 holes and up to 100 trenches over the next five years. In September, assay results from the 2016 portion of this program began to trickle in. PSGS-16-01, drilled at the Goidstack zone, cut 45.5 meters averaging 6.05 g/t gold. The company said this hole contains the most abundant visible gold seen in drill core to date at Plateau, a property with no shortage of VG. Goldstrike said the 11 holes drilled at Goldstack through early September show that within the mineralized zone the gold is hosted in parallel vertical fractures similar to the orientation of the high-grade veins identified at Bonanza. In addition to Plateau, Goldstrike holds a number of gold properties in Yukon, including the Lucky Strike project in the White Gold district.
Cash and short-term deposits: C$3.6 million (June 30, 2016)
Working capital: C$3.4 million (June 30, 2016)
Market capitalization: C$44.4 million (Sept. 28, 2016)
1300-1111 West Georgia Street
Vancouver, B.C. Canada V6E 4M3
Tel: 604-681-1820
Fax: 604-681-1864
www.goldstrikeresources.com
