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Goldstrike Resources 2018 program update on the Plateau Property, Yukon
VANCOUVER, British Columbia, Nov. 19, 2018 (GLOBE NEWSWIRE) -- Goldstrike Resources Ltd. (TSX-V: GSR) is pleased to announce the successful completion of all of
About this update from Trailbreaker Resources Ltd
[{"type":"text","content":" VANCOUVER, British Columbia, Nov. 19, 2018 (GLOBE NEWSWIRE) -- Goldstrike Resources Ltd. (TSX-V: GSR) is pleased to announce the successful completion of all of the exploration goals set out for the 2018 program on Goldstrike’s 100% owned Plateau Property in the Yukon. The 2018 exploration program was fully financed and operated by Newmont Mining Corporation. Results have been received and preliminary interpretations have been made, but detailed compilation and interpretation work is ongoing. The work completed in 2018 included 26 drill holes totaling 7,753 meters of diamond drilling, 310 rock grabs, 1377 geochemical soil samples, 5 km of ground geophysical surveying (IP) and extensive property wide mapping and prospecting. Drill holes were focused on geologic and geophysical targets to gain a better understanding of controls on the widespread gold mineralization seen at surface along the 70 km Yellow Giant trend. Ten of the drill holes were successful in intersecting gold mineralization of > 0.5 g/t Au, with intercepts of up to o 7.17 g/t Au over 0.85 meters at Gold Dome. No significant gold mineralization was returned in the other drill holes. Zones of anomalous gold mineralization were intersected by the exploratory drilling, but did not explain widespread gold mineralization recognized at surface. Further compilation and interpretation of the large data set will provide the base for additional modeling focused on identifying targets along the 70 km corridor that have potential to host significant gold mineralization. Message from Terrence King, President and CEO: “We are very pleased that goals set for the ambitious 2018 exploration program were achieved. It is a pleasure for our team to work with Newmont and to have the support of the Yukon government, First Nations and local stakeholders. Goldstrike and Newmont now have the benefit of a very extensive data base to guide plans going forward; and with the US$1MM cash payment to be made by Newmont in December, 2018, Goldstrike will be well funded with non-dilutive working capital to continue working for the net benefit of all of its stakeholders.” Qualified Person Stephen Roach, P. Geo is the qualified person, as defined by National Instrument 43- 101, for Goldstrike’s Yukon projects, and supervised the prepara...