VANCOUVER, BRITISH COLUMBIA--(Marketwired - June 12, 2017) - Goldstrike Resources Ltd. (TSX VENTURE:GSR)(OTC PINK:APRAF)(FRANKFURT:KCG1) is pleased to announce that it has, in conjunction with its new strategic partner, a Canadian subsidiary of Newmont Mining Corporation (NYSE:NEM), commenced the most comprehensive exploration program to date on the Plateau property, situated in Central Yukon, 130 kilometres southeast of Mayo.
The program has been initiated with a close-spaced helicopter geophysical survey covering the entire ~571 square kilometre Plateau property, utilizing Newmont's proprietary system. The results of that survey will be augmented with high resolution Radarsat-2 "bare-rock" surface mapping and half meter resolution satellite imagery to facilitate interpretation of the structural geology of the 50 kilometre long, district scale, gold mineralized corridor defined to date.
Goldstrike and Newmont have also commenced a program on large untested portions of the property using Newmont's proprietary reconnaissance geochemistry (BLEG) technique. These technologies and methodologies have been refined through use on a multitude of properties around the globe and come with a proven track record of success that will greatly enhance Goldstrike's ability to discover additional gold mineralization on the Plateau property.
Two float-plane accessible camps, complete with docks, will host the Newmont and Goldstrike technical teams and drilling crews that will carry out follow-up surveys and diamond drilling at Goldstack as well as other newly discovered areas containing high grade gold mineralized quartz veining and breccia systems such as "Big-Bang" and "Bonanza". These and several other new gold showings were discovered in 2016, expanding the known extent of the district scale gold mineralized corridor from 25 kilometres to 50 kilometres. Ground geophysical and geochemical surveys will also be executed to further define the extent of gold mineralization on multiple zones within this corridor in preparation for the largest drill campaign to date.
Goldstrike is a well-funded exploration company with a focus on two projects in Yukon. It recently entered into a strategic alliance with a Canadian subsidiary of Newmont Mining Corporation to carry out a comprehensive, multi-year exploration program on its Plateau property, and with funding from Newmont and a Yukon YMEP grant added to proceeds from prior financings and the exercise of warrants, Goldstrike has the funding required to carry out a comprehensive 2017 program on its Lucky Strike property and its two newly staked properties in the White Gold District. The Fraser Institute currently ranks Yukon as the No. 1 jurisdiction in the world for mineral potential.
The Plateau property covers ~571 square kilometres (5,700 hectares) in the Mayo Mining District and contains a district scale gold-mineralized system known as the Yellow Giant Trend. It is 100% owned by Goldstrike subject to a 3% NSR, of which one-third (1%) may be purchased for C$1,500,000 until March 22, 2020.
The Lucky Strike property is located in the White Gold District, 30 kilometres northwest of Goldcorp's Coffee Creek gold deposit and 10 to 15 kilometres east of Kinross' Golden Saddle gold deposit. Goldstrike owns a 100% interest in the Lucky Strike, BRC, Kings Ransom and Goldsource properties free and clear of all encumbrances, including royalties. Goldstrike's Yukon land holdings, including those in the White Gold District, now total 4,704 claims covering over 1,000 square kilometres.
Goldstrike is committed to transparency and the promotion of health, safety, environmental and community interests, which are integral to the conduct of its business. The Company supports the rights of workers and the communities in which it operates. It respects the traditional rights and culture of the First Nations and their concern for the environment and preservation of their cultural heritage. The Company is committed to building relationships based on honesty, openness, mutual trust and involvement, and to working with local communities to develop relationships that focus on creating value for everyone. WORKING TOGETHER, WE SUCCEED.
To see additional information and maps of the Plateau Property and the new White Gold District assets, the Kings Ransom and Goldsource properties, please visit www.goldstrikeresources.com
James Moors, 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.
ON BEHALF OF THE BOARD
Terrence E. King, President and Chief Executive Officer
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.
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; 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.