Goldstrike Discovers Coffee Creek Style Gold Mineralization
August 18 2011 - 9:15AM
Marketwired
Goldstrike Resources Ltd. (TSX VENTURE: GSR)(PINK SHEETS:
ADRAF)(FRANKFURT: KCG1) and Petro One Energy Corp. (TSX VENTURE:
POP)(PINK SHEETS: CUDBF)(FRANKFURT: C6K1) are pleased to report
that rock samples of angular, silicified schist taken from surface
felsenmeer on the Lucky Strike property in the White Gold District
have returned values as high as 3.06 g/t Au to date. With less than
5 per cent outcrop on the property this is considered to be a very
encouraging result. A total of 101 reconnaissance soil samples
collected to date over a large area of the property have returned
values ranging from 15 to 256 ppb Au. They outline a 7 km long
northwest structure that has been confirmed by geophysics and
prospecting, as well as a series of cross-cutting northeast
structures that are also evident on the geophysics. Because soil
geochemistry is commonly masked by felsenmeer, volcanic ash and
permafrost, deep auger drilling was employed and was successful in
identifying new gold anomalies and enhancing existing gold
anomalies that are more representative of the unglaciated bedrock.
Active placer claims are located less than 1 km from the property
boundary.
The Lucky Strike property is flanked by the Kinross Golden
Saddle property and claims staked by Shawn Ryan. The Lucky Strike
property occurs in the same package of rocks as Kaminak's high
profile Coffee Creek gold discovery, and based on the results of
the Phase I program it is now showing many of the same initial
indicators as Coffee Creek, including similar geology, geophysics,
structure, gold geochemical values and alteration. Goldstrike has
already mobilized a Phase II program on the Lucky Strike property
to include mapping and mechanized trenching in preparation for
diamond drilling.
First pass exploration on all of Goldstrike's 24 Yukon gold
projects is almost complete, and all significant results will be
released as they become available. Based on positive results, a
second phase of exploration consisting of mapping and trenching in
preparation for drilling is planned to commence on these properties
in the immediate future, and this is to be completed by the end of
October. Goldstrike has a diamond drill and crew in Dawson that are
ready to test all targets generated. Results will be released as
they become available.
On the KZ-STRIKE property (contiguous with Rockhaven's Klaza
discovery in the Mt. Nansen Gold Camp), reconnaissance soil samples
returned anomalous values up to 405.5 ppb and 116.5 ppb Au, further
confirming the presence of gold on the property, in addition to the
historic 500 ppb Au value 50 previously reported. Further study and
compilation is ongoing to lay out a Phase II program for the
KZ-STRIKE property.
Goldstrike has completed the first pass exploration programs on
most of its 24 Yukon gold properties to date, and expects to report
a steady flow of news as significant results become available.
As previously reported, Petro One has a 30% carried interest in
the Lucky Strike property, as well as being a large shareholder in
Goldstrike Resources.
"We are very encouraged by these preliminary results that
confirm the potential of the Lucky Strike property to host one or
more significant gold discoveries similar to Coffee Creek", said
Petro One's President Peter Bryant. "As a significant shareholder
in Goldstrike Resources, Petro One will have exposure to 22 highly
prospective properties in addition to the BRC and Lucky Strike
properties optioned to Goldstrike by Petro One, for a total of 24
properties that cover all of the most active gold camps in the
Yukon at this time, and are expected to add significant shareholder
value. We look forward to receiving the exploration results with
much anticipation."
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
goldstrikeresources.com.
ON BEHALF OF THE BOARDS
"Reimar Koch" "Peter Bryant"
President President
Goldstrike Resources Ltd. Petro One Energy Corp.
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.
Contacts: Goldstrike Resources Ltd. Jeff Stuart (604) 566 9089
(604) 681 1864 (FAX) info@GoldstrikeResources.com
www.goldstrikeresources.com Petro One Energy Corp. (604) 566 9089
Toll free: (877) 566 9089 (604) 564 8003 (FAX)
info@PetroOneEnergy.com www.petrooneenergy.com
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