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PetroOneEnergy.com
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GoldStrikeResources.com
Twitter.com/GoldstrikeRes
TSX-V: GSR
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JOINT NEWS RELEASE
GOLDSTRIKE SAMPLES 9.92 GRAMS PER TONNE GOLD AT SOLOMON’S SUMMIT
PROPERTY, AND SAMPLES 1.216 OUNCES PER TON GOLD AT LUCKY STRIKE PROPERTY
October 1, 2012 - Goldstrike Resources Ltd. (TSX-V: GSR) is pleased to report a fire assay
of 9.92 grams per tonne gold, in a grab sample of decomposed bedrock from its Solomon’s
Summit property, located in the Selwyn Basin, 160km northeast of Ross River, Yukon. The
high grade sample was taken in an area of limited outcrop from a north-south mineralized
structure that has been traced on the ground for 400 metres and remains open. A total of
five rock grab samples that include quartz vein material and breccia have now been taken
from exposed bedrock along a 10 metre gold mineralized segment of the same structure
that is drill ready and remains open. New assays from this segment include 9.92 grams per
tonne gold, 8.7 grams per tonne, 2.78 grams per tonne gold, and 1.8 grams per tonne gold,
in addition to 5.3 grams per tonne gold reported in the Company’s November 2, 2011 news
release. This gold-mineralized zone was discovered by Goldstrike’s team in the summer of
2011 on a ridge known as Solomon’s Summit, and cuts calcareous sandstone, limestone,
limestone breccia, and siltstone. The gold shows a close spatial association with pathfinder
elements arsenic, antimony, mercury, and thallium.
A strong multi-element geochemical anomaly 2,000 metres long, and up to 800 metres wide,
extends northwest along Solomon’s Summit, and remains open. This geochemical anomaly
coincides with the hinge zone of a northwest-plunging fold mapped by government in lower
Hyland Group clastic and calcareous sediments, below a cap rock of maroon and green shale
typical of the Upper Hyland Group. A rock grab sample taken close to the trace of the fold hinge
1 kilometre northwest of the main showing area assayed 1.4 grams per tonne gold. A total of 88
anomalous soil samples taken along the ridge contained between 25 and 100 parts per billion
gold, and 15 soil samples returned values between 100 and 500.8 parts per billion gold.
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The gold anomaly on Solomon’s Summit covers a large area with limited outcrop with high
grade bedrock samples taken to date of 5.3, 8.7 and 9.92 grams per tonne gold within a well
defined gold mineralized structure that remains open. The geological age, host lithology,
structure, and geochemistry resemble ATAC’s recent description of its Conrad zone, and
Goldstrike’s team believes Solomon’s Summit has many indicators for a significant new
gold discovery. Trenching and diamond drilling is planned.
A total of 140 rock grab samples, 235 soil samples, and 4 silt samples were collected on the
Summit property in 2012. Rock samples ranged from below detection level to 9.92 grams per
tonne, soil samples ranged from below detection level to 508.2 parts per billion, and silt samples
ranged from below detection level to 29.4 parts per billion. There are no samples outstanding.
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LUCKY STRIKE PROPERTY (WHITE GOLD DISTRICT, YUKON)
GOLDSTRIKE SAMPLES 41.687 GRAMS PER TONNE GOLD (1.216 OUNCES PER TON
GOLD) ON 410 METRE GOLD MINERALIZED STRUCTURE THAT REMAINS OPEN
Goldstrike has just received fire assay results of 41.687 grams per tonne (1.216 ounces per
ton) gold from a rock grab sample taken from bedrock on its Lucky Strike property,
Yukon. The high grade sample was taken along a gold-mineralized structure that trends
east-northeast for 410 metres and remains open. This new discovery has been named
“Lucky Shot”. The Lucky Shot structure was discovered by follow up prospecting of strong
gold in soil anomalies. The structure was traced in an area of little outcrop using high
resolution ground geophysics that confirms it passes through the mineralized outcrop and
beyond. The Lucky Strike property contains widespread gold soil anomalies over a 7
kilometre strike length, returning values up to 703.7 parts per billion gold to date. These
gold anomalies coupled with high resolution airborne geophysics indicate excellent
potential for additional gold-mineralized structures to be discovered on the property.
The Lucky Strike property is located in the heart of the White Gold District. It is contiguous with
the Kinross Golden Saddle property, 12 kilometres south-southeast of Comstock’s QV property,
and 30 kilometres north-northeast of Kaminak’s Coffee Creek property. The gold-mineralized
Lucky Shot structure has the same east-northeast orientation reported for the Golden
Saddle deposit, as well as Comstock’s recently announced trench intersections (3.31 grams
per tonne gold over 95 metres, and 3.74 grams per tonne gold over 75 metres), and many of
the main mineralized zones at Coffee Creek.
The new 41.687 gram per tonne (1.216 ounces per ton) gold sample consists of sheared,
brecciated felsic schist, with strong silica, sericite, and pyrite alteration and contains finely
disseminated dark grey sulphides. The assay record shows elevated values of silver,
molybdenum, antimony, lead, and arsenic, all of which are also reported to be anomalous
on the Golden Saddle property (Underworld Resources NI43-101 Report).
Goldstrike is very excited to have already established such a strong drill target in exposed
highly gold-mineralized bedrock on the Lucky Shot structure. The host rock, gold
mineralization, geochemistry, and structure closely resembling those on the Kaminak,
Kinross, and Comstock properties. The Company looks forward to a program of additional
high resolution ground geophysics and trenching, in order to define the full lateral extent of
this new gold mineralized structure, and a drill program to define the full geometry of the
gold mineralization to depth and along strike. The company is also planning a program of
follow up prospecting on multiple gold soil anomalies along a 7 km strike.
A total of 37 rock grab samples, 44 soil samples, and 2 silt samples were collected on the Lucky
Strike property in 2012. Rock grab sample assays ranged from below detection level to 41.687
grams per tonne, soil samples ranged from below detection level to 71.2 parts per billion, and the
silt samples ranged from below detection level to 7.2 parts per billion. Assay results for 5 soil
and no rock samples remain outstanding.
4
Big One Property, Yukon
Fifty-one follow-up soil samples taken on Goldstrike’s Big One property in 2012 have returned
values ranging from 1 to 400.8 parts per billion gold, including four samples that returned 76.9,
99.3, 237.2 and 400.8 parts per billion gold, and two others that were also over 50 parts per
billion. Rock samples returned values ranging from below detection level to 0.34 grams per
tonne gold. The new samples were taken over a soil anomaly that was discovered by first pass
exploration in 2011.
The Big One property is located 15 kilometres southeast of Solomon’s Summit, and covers a
series of northwest trending folds in a sedimentary sequence of sandstone, grit, quartz pebble and
lithic conglomerate, shale, phyllite, limestone, and quartzite that show varying amounts of
hydrothermal alteration, silicification, quartz veining, and stockworks. Sulphides are mainly
disseminated pyrite, arsenopyrite, pyrrhotite, galena, and stibnite. This geological setting closely
resembles that seen on Goldstrike’s Plateau and Summit properties, and the silicified
sedimentary units seen at Big One are considered highly prospective because of their lateral
extent. A tight spaced soil grid and mapping is planned for follow up.
Goldstrike looks forward to receiving drill results from its flagship Plateau property in the
immediate future. Based on overall results from the 2012 season, the Company is planning
an aggressive exploration program including trenching and diamond drilling on the
Plateau, Lucky Strike and Summit properties.
The Company is also pleased to report it has accepted an invitation to speak on its Selwyn
Basin prospects at the Yukon Geoscience Forum, to be held in Whitehorse November 18 to
November 21.
Sample analysis and assaying for all of Goldstrike's projects are being conducted by Acme
Analytical Laboratories Ltd in Vancouver, BC and AGAT Laboratories Limited in Mississauga,
Ontario, both of which are ISO 9001 accredited. Soil samples are dried at 60oC, reduced to 100
grams, and sieved to -80 mesh. A 15 gram charge is then dissolved with a 1:1:1 aqua regia
digestion, and analyzed by a 72-element combination ICP-MS and ICP-AES package that
includes gold. Rock samples are crushed, split, and 250 gram samples are sieved to 200 mesh. 30
gram charges are then assayed for gold using fire assay fusion and ICP-ES, and in addition, 0.5
mg charges are dissolved with a 1:1:1 aqua regia digestion, and analyzed by 37-element ICP-MS
that also includes gold. Rigorous procedures are in place regarding sample collection, chain of
custody and data entry. Certified assay standards, duplicate samples and blanks are routinely
inserted into the sample stream to ensure integrity of the assay process.
Note: Grab samples are selective by nature, and are unlikely to represent average grades on the
property.
Trevor J. Bremner, P. Geo., Senior Consulting Geologist and Advisor to Goldstrike's Board, is a
qualified person, as defined by National Instrument 43-101, for Goldstrike's Yukon exploration
projects and supervised the preparation of the technical information in this release.
5
For more detailed new information and maps on Summit and Lucky Strike properties, see
Goldstrike's web site at GoldstrikeResources.com.
ON BEHALF OF THE BOARD
Terrence E. King
President and Chief Executive Officer
For further information, please visit Goldstrike’s website at GoldstrikeResources.com, follow the
Company’s tweets at Twitter.com/GoldstrikeRes and contact Jeff Stuart of King James Capital
Corporation, handling Investor Relations for the Company, by telephone at (604) 805-0375 or by
email at [email protected].
Neither 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.