Newstrike Capital (NES-V) begins Aurea Norte drilling
Oct 17, 2013 - News Release
Newstrike Capital Inc. has released the final report, and interpretation has been received from Geotech Ltd. of Aurora, Ont., for the ZTEM airborne geophysical survey flown over the company's Aurea Norte property (Sept. 9, 2013).Fifteen high priority targets were identified in the report, seven that coincide with anomalous surface gold geochemistry, ranging from weakly anomalous to a best sample of 16.7 grams per tonne gold from outcrop chip samples. A 5,000 metre early stage drill program that will test a selection of these anomalies is now underway. Drilling is expected to take three months to complete and results will be used for planning purposes. Eight of the high priority targets identified in the report represent new exploration targets, a selection of these will be brought to the drill ready phase.
"As explorers, we are very encouraged by the results of this report," Richard Whittall, CEO, Newstrike Capital commented. "This report has confirmed a number of high priority drill targets based on the strong correlation of previous drilling and surface geochemical results and the imagery from the ZTEM survey. This drill program will be an important first step in evaluating the potential of the San Luis trend."
The ZTEM survey covered an area known as the San Luis Trend, an important structural corridor over ten kilometres in length that has returned widespread near-surface gold mineralization that coincide with favourable GGB ("Guerrero Gold Belt") style surface alteration in outcrop, including iron oxide alteration, jasperoid breccia, silicified intrusion and skarn. A selection of assay results over 1.0 grams per tonne gold from outcrop chip sample taken along this trend is presented in the table below. Gold distribution maps and a complete table of gold and pathfinder element assay results from outcrop chip samples are available on the company website at www.newstrikecapital.com.
Table of outcrop chip and channel samples over 1.0 grams per tonne gold, includes a selection of common pathfinder elements.
The objective of the Aurea Norte ZTEM survey was to locate potentially buried intrusive bodies associated with the GGB mineralization model and to identify controlling structures at the Ana Paula deposit and along the mineralized San Luis Trend. The new anomalies identified by the ZTEM survey include resistivity and conductivity contrasts typical of buried silicified intrusions and with alteration commonly associated with skarn-porphyry and epithermal style deposits. Exploration activities are currently focused on advancing the project pipeline around the Company's flagship Ana Paula project, and include the eastern half of the 59,587 hectare Aurea Norte property. Mapping and surface sampling continue to advance new targets to the drill ready phase.
The Ana Paula project is located internal to and is surrounded by the Aurea Norte property. It is host to a structurally controlled epithermal style gold deposit with a pit constrained resource(i) of 43.million tonnes that includes 2.20 million ounces of contained gold and 9.7 million ounces of contained silver in all categories at a weighted average grade of 1.56 grams per tonne gold and 7.5 grams per tonne silver (NI-43-101 technical report filed May 8th, 2013, available on the company website or at www.sedar.com). (i)(applying cutoff grade of 0.45 grams per tonne gold equivalent (AuEq) defined by the price, cost and recovery assumptions).
The GGB is an established gold mining district host to both skarn and epithermal gold deposits located in a mining friendly jurisdiction that offers ample infrastructure, including roads, power, water and ports of access.
Ken Thorsen, a director of the company and a qualified person under NI 43-101 has reviewed the contents of this press release. Drill programs and all project operations are conducted under the direction and supervision of Dr. Craig Gibson, PhD, CPG and a qualified person under NI 43-101.
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