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Highlights from current drilling include 17.5 meters (estimated true width) grading 13.25 g/t gold starting at a depth of 22 meters.
Drill Tracker Weekly is not exclusive to Resource Investing News and is published with permission from Mackie Research Capital Corporation. It highlights drilling results in context with our database of over 10,000 drilling and trenching results. The purpose of this report is to highlight drilling and trenching results that stand out from the pack and compare them to their peer group. This report does not constitute initiation of coverage or a recommendation.
Goldstrike Resources (TSXV:GSR)
Price: $0.13
Market cap: $12.7 million
Working capital: $100 million
Project: Plateau
Country: Canada
Ownership: 100 percent
Reserves: N/A
Project status: New discovery 2013
- Goldstrike Resources announced results from three holes drilled during the 2015 summer program on the Goldstack zone on its 100% owned Plateau project in the remote eastern region of the Mayo district of the Yukon.
- Highlights from the current drilling include 17.5 metres (estimated true width) grading 13.25 g/t Au starting at a depth of 22 metres. The drill hole included a number of intervals with visible gold resulting a high-grade section of 3.00 metres of 62.68 g/t Au (uncut). The mineralization appears to be hosted on the margins of dark grey quartz veins cutting a highly altered and brecciated felsic volcanic. Photos on the Company web site appear to agree with the companies interpretation of a relatively flat lying breccia (dipping -20 degrees to the southeast) as extrapolated by connecting the surface outcrop with holes PSG15-01 and PSG15-02.
- A second vertical hole from the same pad as PSGS15-01 intersected the zone at a depth of 25 metres but returned less spectacular results with 40.50 metres grading 2.35 metres including a high-grade interval of 25.80 g/t Au (uncut) over 2.70 metres. The flat lying nature of the breccia may be related to a syn or post mineral fold event lying on its side. The zone remains open along strike and to depth. A third hole (PSG15-03) was drilled directly down dip from the discovery outcrop to help determine the continuity of the zone. The 94 metre interval (not true width) averaged 1.78 g/t Au with a few higher grade sections including 8.00 metres of 11.25 g/t (not true width).
- The remote and thus underexplored project is part of what the Company has defined as the 25 kilometre Yellow Giant Trend which includes two other key target areas which to date have produced encouraging results which remain open and relatively untested.
Discovery history (July 2013): 10 metres @ 10.91 g/t Au (Sept 9, 2013)
Current holes: 17.5 metres @ 13.25 g/t Au (uncut) including 11.20 metres @ 20.42 g/t Au; 40.5 metres @ 2.35 g/t Au including 10.8 metres @ 8.10 g/t Au
Risk Analysis
Data contained in DRILL TRACKER WEEKLY is based on early stage exploration activity. The results are obtained at the very early stages of exploration and therefore, individual results may not be reproducible with additional trenching or drilling, nor may the results ultimately lead to the discovery of an economic deposit. Delineation of a resource body requires an extensive data gathering exercise according to guidelines set out in National Instrument 43-101 before investors can be reliably assured of a competent body of mineralization that may be of economic interest. DRILL TRACKER WEEKLY is designed to highlight individual trench or drill results, which stand out as being materially anomalous and are particularly worth of note – a type of early warning flag for a particular property that warrants further attention. Hence, DRILL TRACKER WEEKLY does not provide a recommendation to buy, sell or hold a specific equity – it is an information reference source to help quantify the meaning and relevance of early stage exploration results.
Relevant Disclosures Applicable to: Drill Tracker Weekly
- The research analyst or a member of the research analyst’s household owns and/or has options to acquire shares of the subject issuer. At the date of this release the author, Wayne Hewgill, owns no shares in the companies in this report:
Analyst Certification
I, Wayne Hewgill certify that the information in this report is sourced through public documents that are believed to be reliable but accuracy and completeness as represented in this report cannot be guaranteed. The author has not received payment from any of the companies covered in this report. This report makes no recommendations to buy, sell or hold. Each analyst of Mackie Research Capital Corporation whose name appears in this report hereby certifies that (i) the recommendations and opinions expressed in this research report accurately reflect the analyst’s personal views and (ii) no part of the research analyst’s compensation was or will be directly or indirectly related to the specific conclusions or recommendations expressed in this research report.
