Drilling On Yukon Property Intersects Goldsack Zone

VANCOUVER, BC - Goldstrike Resources Ltd. reported that all 11 holes from the 2016 drilling campaign at its flagship Plateau property in Yukon, Canada, totaling over 1500 meters, were successful in intersecting the Goldstack zone. The 2016 drilling was focused on expanding the Goldstack zone, one of the many drill targets along the newly discovered, 50 km long, mineralized Yellow Giant trend. Drill hole PSGS-16-08 returned the best value from the latest phase of drilling with a value of 2.2 g/t Au over 13 m, including 8.5 m grading 3.21 g/t Au. 

Drilling indicates that the main control of the mineralized system at the Goldstack zone is a northeast/southwest structure known as the Eldorado Fault. This structure has been mapped for 1 km, remains open along strike in both directions and will be one of the principal targets for drilling next year. The Eldorado Fault hosts the mineralized Goldstack discovery outcrop. An initial first pass metallurgical test of the Goldstack zone returned a total recovery value of over 98.5% gold. This confirms the coarse nature of the gold observed in this system.

The 2016 exploration goals for Goldstrike at Plateau included: (1) expanding the known gold mineralization within the Goldstack zone, (2) gaining a better understanding of the widespread nature of gold mineralization on the property, and (3) completing a regional prospecting and staking program to ensure that Goldstrike continues to control the key ground in this new district scale gold system.

Goldstrike has achieved its 2016 goals by expanding known mineralization within the Goldstack zone and by improving its understanding of the geometry and structural controls on the Goldstack/Eldorado mineralized system. Further, a regional prospecting program led to doubling the known strike length of the Yellow Giant Trend from 25 km to 50 km and staking additional ground to control the Trend. Finally, the 2016 exploration program confirmed the prospectivity and potential of the property.

Prospecting led to the discovery of the Goldback showing, located approximately 480 m southeast of the Goldstack zone. Assay values from outcrop grab samples yielded a best result of 15 g/t Au. At the Goldback zone it was discovered that gold occurs in quartz stockwork containing arsenopyrite blebs and veinlets similar to the Goldstack zone.