The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
GSR: TSX-V
Chairman, CEO and President: Terrence E. (Terry) King
Director: Lawrence (Larry) Dick
Chief Geologist: Trevor Bremner
After aggressively exploring some 31 properties in Yukon Territory with a C$17 million field program in 2012, Goldstrike Resources Ltd. narrowed its focus in 2013 on five most prospective targets, in particular its newly discovered VG and Goldbank zones along the 25-kilometer (16 miles) largely unexplored Yellow Giant Trend on its flagship Plateau South property along with the Lucky Strike and Summit properties.
In August, the company reported that it had completed the last of 17 diamond drill holes at Plateau South.
Visible gold was identified in core from four holes at Plateau South, including holes 2, 3 and 6 in the VG Zone on Gold Dome and hole 4 at the Goldstack Zone.
The discovery drill hole at Goldstack was the last hole drilled in 2013, and intersected a high-grade gold mineralized shoot averaging 10.91 grams-per-metric-ton gold over 10 meters within a larger intersection of 2.28 g/t gold over 53 meters.
This gold mineralized shoot was intersected at a shallow downhole depth of eight meters and remains open.
As at Goldstack, a high-grade mineralized shoot at the VG zone is indicated to plunge in a southeast direction.
In addition, several new target areas with high-grade gold mineralization on surface were discovered on Gold Dome this summer outside the VG zone.
Prospecting on the 11-kilometer-long (6.8 miles) Goldbank trend has resulted in the discovery of new gold mineralization with rock grab samples grading up to 101.11 grams per metric ton (2.94 oz/t).
In addition, a new gold trend with a strike length with of more than 400 meters was discovered running parallel to the original Goldbank trend and regional fold axes, with rock grab samples grading up to up to 308.49 g/t (9 oz/t) gold.
The new trend remains open in both directions.
At the Lucky Strike property located 300 kilometers (186 miles) west of Plateau South, a total of 130 rock grab samples and 249 soil samples rocks were taken.
The rock samples ranged from detection level to 5,839 parts-per-billion gold, including two rock grab samples of 5.84 and 2.25 g/t gold.
Soil samples ranged from detection level to 70 ppb gold.
The program consisted of five trenches with a total length of 450 meters, and tested an area of multiple gold anomalies where a grab sample taken from bedrock in 2012 returned 41.69 g/t gold.
This program qualified for funding by way of a C$25,000 grant from the Yukon Mining Incentives Program.
Goldstrike also conducted a brief exploration program on the Summit property 240 kilometers (150 miles) southeast of Plateau South.
This eight-day program consisted of prospecting, mapping, ground geophysics and up to 50 meters of trenching, with a budget of C$65,000.
The Summit Program also qualified for a C$30,000 YMIP grant.
Cash and short-term deposits: C$2.6 million (June 30, 2013)
Working capital: C$2.5 million (June 30, 2013)
Market capitalization: C$5.9 million (Sept. 27, 2013)
1300 - 1111 West Georgia Street Vancouver, B.C. Canada V6E 4M3
Tel: 604-681-1820
Fax: 604-681-1864
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