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Goldstrike Resources discovers new showing at Plateau project

Goldstrike ResourcesLtd. said July 5 that the initial prospecting and mapping at PlateauSouth within its Plateaugold project in Canada's Yukon Territory has led to a significant new gold discovery,which the company named the Bonanza zone.

According to the miner, the Bonanza zone — located 4 kilometersfrom and on trend with the project's Goldstack zone — contains the most pervasivecoarse visible gold seen in bedrock on the Plateau property to date and is exposedon surface over an area measuring 20 meters by 12 meters before it is covered byoverburden.

The Bonanza zone remains open in all directions; it is interpretedto be an extensive quartz stockwork system containing widespread visible gold, withinitial mapping confirming two distinct sets of veining containing coarse visiblegold that measure between 0.6 meter and 1.2 meters wide, spanning the entire extentof the outcrop and is also open in all directions.

Goldstrike said the initial prospecting and mapping were undertakenas its 2016 program at the Plateau project is underway. The mapping and the programis still ongoing and will continue to focus on both expanding the known areas ofgold mineralization and discovering new mineralized zones.

Structural mapping is also being carried out at the Goldstackzone to confirm the structural controls on the gold mineralization in preparationfor drilling, while drilling is designed to expand the known gold mineralizationboth along strike and to depth, where it remains open.

The company recently receiveda five-year advanced exploration permit for the Plateau project, allowing for upto 200 drill holes totaling 20,000 meters and the development of up to 100 trenches.