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2fast's Exploration & lottery picks ;0)~ > Companies with experience management, cash infused, world class properties with growth in N43-101 reporting and aquisitions on promising properties. > Goldstrike Discovers Carlin-Style Gold Mineralizat View modes: 
  • Goldstrike Discovers Carlin-Style Gold Mineralizat

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    September 13, 2011 09:30 ET

    Goldstrike Discovers Carlin-Style Gold Mineralization in Yukon

    VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 13, 2011) - Goldstrike Resources Ltd. (TSX VENTURE:GSR)(PINK SHEETS:APRAF)(FRANKFURT:KCG1) is pleased to report that first pass reconnaissance geochemical sampling on its Plateau property in Yukon has returned numerous anomalous gold, arsenic, antimony, mercury, and thallium values over a 7.5 km strike length that remains open. Assays have returned up to 1.544 grams per tonne gold in soils and up to 1.292 grams per tonne gold in rocks. These samples were also strongly anomalous for key pathfinders. Goldstrike's new discovery, which has been named the Gold Rush Zone, is located in the same Hyland Group sedimentary rocks that host ATAC's Osiris discovery located 85 kilometers to the north (best drill intersection to date 4.65 grams per tonne gold over 65.2 meters including 9.26 grams per tonne gold over 31.13 meters). Twenty anomalous soil samples assayed to date have returned 15 to 1,544 parts per billion (1.544 grams per tonne) gold in soil, and 10 rock samples returned values ranging from 20 to 1,292 parts per billion (1.292 grams per tonne) gold. Pathfinder element values assayed as high as 2,821 parts per million arsenic, 145.8 parts per million antimony, 0.08 parts per million mercury, and 0.7 parts per million thallium in soil, and >10,000 parts per million arsenic, 69.7 parts per million antimony, 5.47 parts per million mercury, and 0.9 parts per million thallium in rock. This geochemical signature is characteristic of Carlin-style deposits, and combined with the geological setting in the same group of host rocks as Osiris, demonstrates the Gold Rush Zone has strong potential to quickly evolve into a significant new gold discovery in this previously unexplored area, with excellent Carlin-style gold potential.

    Based on these very positive results, the Company recently completed ground truthing of several additional targets in this area and carried out a staking program that has significantly expanded its land position. Phase 2 exploration is now underway, and is to include detailed geological mapping, prospecting, infill soil geochemistry and trenching directed toward identifying key horizons along this 7.5-kilometer trend in preparation for drilling.

    Hyland Group host rocks, including limestone, sandstone, shale and breccia, are exposed along a northeast-striking ridge in the Gold Rush Zone. Initial examination indicates that they have been extensively silicified and mineralized along a three to five meter wide northeast-striking fault zone that is likely to have provided a conduit for the mineralization. Many of the rock samples taken along the strike of the new Gold Rush Zone are silicified and cut by quartz veins and stockworks. Finely disseminated sulphides including pyrite and arsenopyrite are present in many of the rocks sampled, or have been oxidized to limonite. A broad elongated zone of silica and clay alteration extending along the ridge corresponds closely to the geochemical anomaly and the fault. Several of the highest gold, arsenic and antimony values to date have been obtained near the interface between the silica and clay alteration.

    Gold in Carlin deposits is typically submicroscopic, and associated with disseminated pyrite or arsenian pyrite, and silica. These minerals are thought to be deposited from basinal fluids that travelled up deep-seated faults to replace calcite or dolomite in limestone, calcareous or dolomitic shale, or other sediments. Gold may be deposited in or near the fault zone, or may travel laterally away from the fault along a permeable layer. Gold zones are closely associated with or surrounded by a geochemical halo of arsenic, antimony, mercury, and thallium. The best gold grades are reported to occur near the silica-clay transition. This model appears to correlate with the geology and geochemistry of the Gold Rush Zone based on results to date.

    "This is an exciting new discovery for Goldstrike," said Goldstrike President Reimar Koch. "This find further confirms the potential for numerous new gold discoveries in the Yukon. It opens up a vast area to exploration for Carlin-style targets. GoldStrike recently completed the first pass exploration programs on all of its 24 Yukon gold properties and plans to initiate additional phase 2 programs immediately as positive assay results are received. The company anticipates a steady flow of news as significant results become available."

    The technical data in this news release has been reviewed and approved by Trevor J. Bremner, P. Geo., who is a qualified person as defined in National Instrument 43-101. For more detailed information on these properties, refer to Goldstrike's web site at www.goldstrikeresources.com.

    ON BEHALF OF THE BOARD

    Reimar Koch, President


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