Mining News: Drills strike gold at Monte Carlo zone

Goldstrike Resources Ltd. Nov. 20 reported that the discovery hole at the Monte Carlo zone on its Lucky Strike property cut 22 meters averaging 5.36 grams per metric ton gold, including 18.79 g/t gold over 5.72 meters. The 2017 program at Lucky Strike included 1,032 meters of drilling in nine shallow holes testing Monte Carlo. Intercepts from the first seven holes include 3.57 meters of 1.75 g/t gold; 2.15 meters of 5.12 g/t gold; and 9.55 meters of 1.33 g/t gold. Assay results from one hole are pending. “The inaugural drill program on the Monte Carlo Zone clearly demonstrated the tremendous potential of the entire Lucky Strike property,” said Goldstrike Chief Geologist Stefan Kruse. Located in the heart of Yukon’s White Gold District, Lucky Strike hosts five known gold-in-soil anomalies – Monte Carlo, Belmont, Samson, Boss and Maverick – along a 10-kilometer- (6 miles) corridor. “The results to date demonstrate that the project is one of the most important new discoveries in the White Gold Camp in 2017 and has the makings to be a flagship standalone project,” said Goldstrike President and CEO Terry King.

While Goldstrike explored Lucky Strike, Newmont Gold Corp. carried out an extensive exploration program at Plateau, an expansive Yukon property where Goldstrike has identified multiple zones of high-grade gold. In March, Newmont cut a C$53 million deal to earn up to a 75 percent stake in Plateau. Goldstrike and Newmont plan to release the exploration and drill results from the 2017 exploration at Plateau Property in the near future. “The 2018 exploration season is shaping up to be the largest drill campaigns to date on both Lucky Strike and Plateau properties,” King added.

–SHANE LASLEY