Mining News: Northern Neighbors: Goldstrike consolidates Lucky Strike ownership

Goldstrike Resources Ltd. Dec. 4 reported that it has entered into an agreement to purchase a 3 percent net smelter returns royalty on the Lucky Strike gold property, located in the Yukon’s White Gold District, together with a 3 percent net smelter returns royalty on the nearby BRC property. Goldstrike owns a 70 percent interest in the Lucky Strike mineral claims and has entered into an agreement to purchase the remaining 30 percent from Petro One Energy Corp. On completion of its proposed arrangement with Petro One and the purchase of the royalties, Goldstrike will own 100 percent unencumbered interest in Lucky Strike. On completion of the royalties purchase, Goldstrike also will hold 100 percent unencumbered interest in BRC. Goldstrike is currently focused on its Plateau gold project, also in the Yukon, but has obtained increasingly promising results from short exploration programs carried out at Lucky Strike over the past two summers. A total of 63 rock grab samples and 128 soil samples were collected at the property in 2015. Rock samples ranged from detection level to 4.26 grams per metric ton gold, and soil samples ranged from detection level to 1.99 g/t gold. In addition, Kaminak Gold Corp. has announced a proposed access road to its Coffee Creek deposit which is planned to pass within six kilometers (four miles) of the Lucky Strike property. Management believes full ownership of Lucky Strike will make the gold project more attractive to investors and prospective financial partners. Under the agreement, Goldstrike will issue 75,000 shares and 75,000 warrants to the vendor for the royalties. Each warrant will be exercisable for two years to purchase one additional share for C10 cents.

- Shane Lasley