VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 6, 2012) -
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
Newstrike Capital Inc. (TSX VENTURE:NES) ("Newstrike" or the "Company") announces the results from 8,035 meters in 15 drill holes completed this period at the Company's 100%-owned Ana Paula Project in the Guerrero Gold Belt, Mexico. These drill results are from new exploration holes and from the Breccia Zone delineation program. The drill holes in this series are collared in the northeast and southeast quadrants and targeted the Lower Grade Mineralization.
Highlights from the delineation program include:
-- AP-12-116 intersected 31.30 meters of 0.07 g/t Au and 24.1 g/t Ag and an
additional 21.00 meters of 0.74 g/t Au and 7.1 g/t Ag
-- AP-12-121 intersected 13.42meters of 0.91 g/t Au and 3.5 g/t Ag
-- AP-12-122 intersected 13.57 meters of 0.60 g/t Au and 4.7 g/t Ag, 50.66
meters of 0.44 g/t Au and 1.2 g/t Ag and 24.80 meters of 0.41 g/t Au and
1.8 g/t Ag
-- AP-12-123 intersected 12.17 meters of 1.15 g/t Au and 5.3 g/t Ag, 16.26
meters of 1.13 g/t Au and 2.3 g/t Ag and 9.38 meters of 1.06 g/t Au and
1.6 g/t Ag.
-- AP-12-125 intersected 28.42 meters of 0.48 g/t Au and 21.25 g/t Ag,
15.36 meters of 7.92 g/t Au and 3.81 g/t Ag that also includes a 0.52
meter interval of 190.06 g/t Au and 12.10 g/t Ag. Other intersections
include 12.45 meters of 0.80 g/t Au and 1.13 g/t Ag and a 4.90 meter
interval at the bottom of the hole of 0.93 g/t Au and 0.9 g/t Ag.
-- AP-12-128 is a new exploration hole that intersected interesting silver
mineralization over multiple intervals including 1.00 meters of 0.02 g/t
Au and 96.0 g/t Ag, 5.66 meters of 0.10 g/t Au and 25.04 g/t Ag and
12.63 meters of 0.33 g/t Au and 9.12 g/t Ag.
-- AP-12-130 intersected strong gold and silver values including 7.27
meters of 1.30 g/t Au and 31.1 g/t Ag that includes a 0.30 meter
interval of 7.75 g/t Au and 102.0 g/t Ag. Other intervals include 5.92
meters of 1.91 g/t Au and 3.20 g/t Ag that includes a 1.11 meter
interval of 8.92 g/t Au and 10.1 g/t Ag, a 10.9 meter interval of 1.16
g/t Au and 2.3 g/t Ag that includes a 1.15 meter interval of 8.77 g/t Au
and 4.4 g/t Ag and a 20.29 meter interval of 0.64 g/t Au and 1.1 g/t AgA table of drill collar locations is presented in Table 1 below, and drill intersections greater than 5.0 meters or greater than 0.5 g/t Au are provided in Table 2. A table of all weighted grade intercepts over a 0.20 g/t Au cut off is available on the company website together with drill location maps and sections, including an updated geological map and drill sections at
www.newstrikecapital.com.
Table 1: Preliminary drill hole collar locations.
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UTM WGS84 Orientation Total
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Incli-
Elevation Azimuth nation Depth
Drill Hole E (m) N (m) (m) degrees degrees (m) Quadrant
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AP-12-116 409898 1998201 1014 270 -45 730.40 SE
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AP-12-117 409991 1997702 1090 0 -90 506.25 SE
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AP-12-118 410296 1998261 993 0 -85 238.85 SE
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AP-12-119 409861 1997668 1,075 80 -60 589.20 SE
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AP-12-120 408802 1997205 1112 90 -45 635.70 SW
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AP-12-121 410358 1998446 1005 0 -90 207.25 NE
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AP-12-122 410212 1998498 1034 0 -90 435.80 NE
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AP-12-123 409901 1998202 1014 110 -65 611.80 SE
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AP-12-124 409718 1997683 1,075 90 -70 744.15 SE
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AP-12-125 410035 1998001 976 0 -90 481.20 SE
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AP-12-126 409133 1996818 1105 90 -45 574.30 SW
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AP-12-127 410515 1998424 1087 0 -45 554.05 NE
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AP-12-128 408866 1998299 1187 90 -45 734.65 SW
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AP-12-129 410227 1997399 961 90 -45 471.85 SE
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AP-12-130 409978 1998120 1013 90 -45 520.35 SE
----------------------------------------------------------------------------Discussion of results
A total of 8,035 meters in 15 new holes including AP-12-116 to AP-12-130 are reported, completing 30,000 meters of drilling from this year's 45,000 meter drill program. Results from an additional 5,000 meters of drilling are pending from the laboratory and drilling continues with four rigs on site. The results reported include new exploration drilling in the southwest quadrant and a series of infill drill holes required for this year's delineation program. The delineation drill program results, including the infill drill holes reported, are sufficient to advance to the initial resource now scheduled for the end of calendar year 2012. Final scheduling of the resource estimate is dependent on the receipt of ongoing engineering and metallurgical studies. Mineralization at Ana Paula still remains open in several directions including at depth. New exploration and higher density delineation drilling will continue into the 2013 exploration year, along with a program of scoping and optimization studies.
Delineation Drill Results
The results presented are from infill holes targeting the lower grade mineralized corridor that trends north and south from the high grade breccia zone. Typical for the target type each drill hole intersected multiple gold mineralized intervals that are separated by barren intervals as highlighted on Table 2. AP-12-117, 118, 119, 121, 122, 124, and 130 are infill holes in the delineation drill program that intersected lower grade mineralization. AP-12-123 and 125 are infill holes that were added as a follow up to the results reported on September 13th, 2012. These holes intersected stronger mineralization over multiple intervals throughout most of their drill length.
Drill holes AP-12-118 and 125 both ended in mineralization. Drill hole AP-12-127 tested an area of stronger silver mineralization located in the northeast quadrant and provided infill in that area as well. Drill hole AP-12-129 is a new step out hole in the southeast quadrant that is 200 meters south of previous drilling. Some of the better intersections from this series include:
AP-12-117 intersected 10.80 meters of 0.65 g/t Au and 6.2 g/t Ag. AP-12-118 intersected 8.28 meters of 0.54 g/t Au and 8.8 g/t Ag, 30.70 meters of 0.60 g/t Au and 3.0 g/t Ag and at the bottom of the hole intersected 8.80 meters of 0.93g/t Au and 4.3 g/t Ag.
Drill hole AP-12-119 intersected 12.00 meters of 0.49 g/t and 8.5 g/t Ag. AP-12-121 intersected 9.30 meters of 0.55 g/t Au and 1.8 g/t Ag, 13.42 meters of 0.91 g/t Au and 3.5 g/t Ag and 9.82 meters of 1.15 g/t Au and 4.4 g/t Ag.
Drill hole AP-12-122 was mineralized from 32.72 meters to 334.33 meters including intersections of 13.57 meters of 0.60 g/t Au and 4.7 g/t Ag, 13.40 meters of 0.50 g/t Au and 1.1 g/t Ag, 50.66 meters of 0.44 g/t Au and 1.2 g/t Ag, 24.80 meters of 0.41 g/t Au and 1.8 g/t Ag, 17.77 meters of 0.42 g/t Au and 2.0 g/t Ag and 8.45 meters of 0.61 g/t Au and 4.1 g/t Ag.
AP-12-123 intersected strong mineralization from 233.58 meters to 583.12 including 12.17 meters of 1.15 g/t Au and 5.3 g/t Ag that also included 4.90 meters of 2.37 g/t Au and 6.6 g/t Ag, 16.26 meters of 1.13g/t Au and 2.3 g/t Ag that includes 5.52 meters of 2.85 g/t Au and 3.1 g/t Ag. Additional intersections include 5.30 meters of 0.62 g/t Au and 2.2 g/t Ag, 5.00 meters of 0.86 g/t Au and 2.6 g/t Ag and a 9.38 meter interval of 1.06 g/t Au and 1.6 g/t Ag.
AP-12-124 intersected 4.20 meters of 0.41 g/t Au and 2.4 g/t Ag and 4.30 meters of 0.35 g/t Au and 10.9 g/t Ag.
AP-12-125 intersected mineralization over most of its drill length including 0.48 g/t Au and 21.3 g/t Ag over 28.42 meters starting at 5.35 meters from surface. Other intersections in this hole includes 26.07 meters of 0.59 g/t Au and 1.6 g/t Ag, 9.13 meters of 0.72 g/t Au and 0.6 g/t Ag, 15.36 meters of 7.92 g/t Au and 3.8 g/t Ag that including a 0.52 meter interval of 190.06 g/t Au and 12.1 g/t Ag. Other intersections include 12.45 meters of 0.80 g/t Au and 1.1 g/t Ag, 46.85 meters of 0.38 g/t Au and 0.1 g/t Ag and a 9.40 meter intersection at the end of the hole of 0.62 g/t Au and 0.5 g/t Ag that also includes 4.90 meters of 0.93 g/t Au and 0.9 g/t Ag.
AP-12-127 intersected 8.50 meters of 0.32 g/t Au and 7.07 g/t Ag, 3.80 meters of 0.08 g/t Au and 14.54 g/t Ag, and 7.65 meters of 0.11 g/t Au and 22.33 g/t Ag that includes 0.74 meters of 0.53 g/t Au and 97.0 g/t Ag.
Drill hole AP-12-129, testing the outside edge of known mineralization, was arguably the least mineralized of the series and is a step out located over 200 meters south of previous drilling. Drill hole AP-12-129 shows that mineralization still remains open to the south intersecting 2.30 meters of 0.52 g/t Au and 8.9 g/t Ag, 6.95 meters of 0.30 g/t Au and 8.7 g/t Ag and a 2.13 meters of 0.54 g/t Au and 23.3 g/t Ag.
AP-12-130 intersected mineralization over most of its length including 7.27 meters of 1.30 g/t Au and 31.1 g/t Ag that includes a 0.30 meter interval of 7.75 g/t Au and 102.0 g/t Ag and a 1.33 meter interval of 2.84 g/t Au and 103.0 g/t Ag. Another intersection of 5.92 meters of 1.91 g/t Au and 3.2 g/t Ag includes a 1.11 meter interval of 8.92 g/t Au and 10.1 g/t Ag. An additional intersection of 10.90 meters of 1.16 g/t Au and 2.3 g/t Ag includes a 1.15 meter interval of 8.77 g/t Au and 4.4 g/t Ag, and a 20.29 meter intersection of 0.64 g/t Au and 1.1 g/t Ag.
Southwest Quadrant - Exploration drill program
Drill holes AP-12-116, 120, 126 and 128 tested several widely spaced targets in the southwest quadrant that are part of a series of new exploration holes testing the contact zone between highly altered sediments and an altered and mineralized intrusion that outcrops in this area.
AP-12-116 was collared in the southeast quadrant and drilled west into the southwest quadrant that intersected a new gold and silver mineralized zone to the west of the main Ana Paula deposit. AP-12-116 intersected silver mineralization from 7.50 meters to 61.90 meters that includes 31.30 meters of 0.07 g/t Au and 24.1 g/t Ag and 19.30 meters of 0.05 g/t Au and 19.1 g/t Ag. Gold and silver intersections in this hole include 21.00 meters of 0.74 g/t Au and 7.1 g/t Ag, 33.80 meters of 0.34 g/t Au and 10.1 g/t Ag and 13.20 meters of 0.82 g/t Au and 7.6 g/t Ag.
Intersections in AP-12-120 include 2.10 meters of 0.64 g/t Au and 2.0 g/t Ag, 2.97 meters of 0.39 g/t Au and 8.3 g/t Ag, and 1.28 meters of 0.88 g/t Au and 1.8 g/t Ag. Drill hole AP-12-126 did not intersect significant mineralization.
AP-12-128 was another interesting intersection from this series with high silver as well as gold values, including 1.00 meter of 0.02 g/t Au and 96.0 g/t Ag, 5.66 meters of 0.10 g/t Au and 25.0 g/t Ag that includes s 0.74 meters interval of 0.53 g/t Au and 97.0 g/t Ag. Another 5.14 meters intersection of 0.93 g/t Au and 17.0 g/t Ag that includes a 1.03 meter interval of 2.64 g/t Au and 25.1 g/t Ag. The longest intersections in AP-12-128 include 12.63 meters of 0.33 g/t Au and 9.1 g/t Ag that also includes a 1.10 meter interval of 1.09 g/t Au and 23.9 g/t Ag, and an intersection of 10.37 meters of 0.10 g/t Au and 16.5 g/t Ag. AP-12-128 is located on the most westernmost contact of the intrusion that outcrops in this area and results from this hole suggest another mineralized corridor may exist in this area. New exploration drilling will continue to follow up these results.
The Ana Paula Project is central to Newstrike's 88,000 hectare mineral claims located in the Guerrero Gold Belt and forms part of a district scale mining camp that is host to Torex Gold's advanced Morelos Project and to Goldcorp's producing Los Filos Mine. Ken Thorsen, a director of the company and a qualified person under NI43-101 has reviewed the contents of this press release. The drill program and all project operations are conducted under the direction and supervision of Dr. Craig Gibson, PhD, CPG and a qualified person under NI43-101.
QA-QC:
Newstrike maintains strict QA-QC protocols for all aspects of their exploration programs that include the systematic insertion of blanks and standards into each sample batch. SGS laboratories or ALS Chemex performed assay analyses reported in this release. All samples are assayed using the respective laboratories certified and industry standard assay techniques for gold and multi-element packages and for over limits; Au was analyzed by 50 gram fire assay with an atomic absorption finish, and other elements were analyzed by multi-element ICP packages.
The reported mineralized intervals in core tend to be separated by "barren" intervals that may or may not contain narrow anomalous sections and local high-grade spikes that are not included in the calculations of mineralized intervals. Unless specified otherwise, reported intersections are calculated according to a protocol that uses a 0.20 g/t Au cut off for bounding assays. Reported grade intervals are based on the original uncut assay certificates as received from the assay labs. They do not include check assays pending at the time of reporting.
The dip of the geology and the mineralized intersections varies across the property and the true widths are not accurately known at this time. True width can be expected to be equal to or smaller than the reported intervals.
Table 2. Selected weighted grade intersections
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From To Interval Au Ag
Drill hole (m) (m) (m) (g/t) (g/t)
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AP-12-116 7.50 38.80 31.30 0.07 24.1
includes 9.00 13.50 4.50 0.15 83.3
42.60 61.90 19.30 0.05 19.1
457.90 462.27 4.37 1.09 1.1
547.99 551.25 3.26 0.85 9.9
565.50 586.50 21.00 0.74 7.1
591.00 624.80 33.80 0.34 10.1
includes 614.30 623.30 9.00 0.59 8.7
709.30 722.50 13.20 0.82 7.6
includes 716.97 719.65 2.68 0.97 19.9
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AP-12-117 74.40 82.49 8.09 0.30 4.8
98.20 109.00 10.80 0.65 6.2
429.33 436.40 7.07 0.30 0.7
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AP-12-118 10.00 18.28 8.28 0.54 8.8
57.00 70.00 13.00 0.36 4.0
74.40 84.90 10.50 0.36 2.2
94.15 124.85 30.70 0.60 3.0
116.05 124.85 8.80 0.93 4.3
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AP-12-119 335.80 338.80 3.00 0.90 1.2
356.40 364.80 8.40 0.28 1.6
384.50 396.50 12.00 0.49 8.5
487.75 494.00 6.25 0.44 3.1
584.80 589.20 4.40 0.45 0.5
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AP-12-120 308.80 310.90 2.10 0.64 2.0
376.83 379.80 2.97 0.39 8.3
425.24 426.52 1.28 0.88 1.8
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AP-12-121 19.50 24.67 5.17 0.30 1.1
27.00 36.30 9.30 0.55 1.8
40.15 53.57 13.42 0.91 3.5
includes 40.15 49.97 9.82 1.15 4.4
and 47.10 49.97 2.87 1.58 8.0
126.00 126.54 0.54 2.77 69.3
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AP-12-122 32.75 49.72 16.97 0.28 4.2
includes 48.60 49.72 1.12 0.84 23.1
66.80 80.37 13.57 0.60 4.7
88.95 105.13 16.18 0.30 1.6
111.40 124.80 13.40 0.50 1.1
includes 112.33 118.62 6.29 0.69 1.5
145.50 150.20 4.70 0.40 0.7
158.93 162.46 3.53 0.93 1.4
175.04 225.70 50.66 0.44 1.2
includes 195.25 201.45 6.20 1.09 1.0
229.10 253.90 24.80 0.41 1.8
includes 229.10 233.60 4.50 0.53 1.2
268.22 276.67 8.45 0.61 4.1
includes 269.55 270.66 1.11 3.14 5.8
279.55 285.70 6.15 0.35 0.6
308.25 313.18 4.93 1.32 6.5
includes 308.25 310.23 1.98 2.69 13.9
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AP-12-123 233.58 245.75 12.17 1.15 5.2
includes 235.85 240.75 4.90 2.37 6.5
253.25 261.75 8.50 0.34 1.4
272.30 281.30 9.00 0.49 2.3
312.00 328.26 16.26 1.13 2.3
includes 318.36 323.88 5.52 2.85 3.0
and 319.65 320.72 1.07 8.63 6.6
371.71 373.38 1.67 2.46 3.0
377.50 379.40 1.90 0.95 0.7
432.20 435.33 3.13 1.38 2.0
includes 434.73 435.33 0.60 5.81 6.6
488.00 493.30 5.30 0.62 2.2
497.70 503.15 5.45 0.32 0.6
526.00 531.00 5.00 0.86 2.5
535.00 544.38 9.38 1.06 1.6
550.20 551.68 1.48 6.64 4.5
includes 551.27 551.68 0.41 21.90 15.5
560.60 562.00 1.40 1.71 2.4
577.18 578.25 1.07 2.47 6.1
582.00 583.12 1.12 2.26 4.7
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AP-12-124 166.35 167.35 1.00 1.44 24.3
361.55 363.00 1.45 2.45 8.3
385.05 389.25 4.20 0.41 2.4
423.98 428.28 4.30 0.35 10.9
514.55 515.25 0.70 0.74 4.7
527.50 528.25 0.75 0.63 1.6
567.50 568.00 0.50 0.79 0.7
718.10 723.42 5.32 0.20 0.6
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AP-12-125 5.35 33.77 28.42 0.48 21.3
145.34 153.95 8.61 0.34 1.5
includes 145.34 145.80 0.46 2.27 3.6
173.90 178.90 5.00 0.39 2.5
includes 182.36 183.24 0.88 3.17 3.3
199.50 201.50 2.00 1.76 5.9
includes 200.90 201.50 0.60 5.37 16.1
235.87 237.47 1.60 9.56 7.2
243.27 247.40 4.13 0.59 5.1
includes 255.40 256.70 1.30 2.35 10.4
261.93 288.00 26.07 0.59 1.6
includes 270.50 280.92 10.42 0.82 1.7
292.70 301.83 9.13 0.72 0.6
325.85 328.40 2.55 1.07 2.5
331.30 334.70 3.40 0.68 0.0
339.54 354.90 15.36 7.92 3.8
includes 354.38 354.90 0.52 190.06 12.1
369.42 381.87 12.45 0.80 1.1
includes 370.95 374.67 3.72 2.04 2.4
414.10 417.70 3.60 0.63 0.6
421.98 468.83 46.85 0.38 0.1
471.80 481.20 9.40 0.62 0.5
includes 476.30 481.20 4.90 0.93 0.9
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AP-12-126 No significant values
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AP-12-127 0.00 8.50 8.50 0.32 7.1
10.00 13.80 3.80 0.08 14.5
21.52 23.85 2.33 0.12 24.2
82.70 85.40 2.70 0.12 18.0
179.75 187.40 7.65 0.11 22.3
Includes 181.57 182.57 1.00 0.36 54.3
447.76 448.78 1.02 1.10 82.5
462.18 462.70 0.52 0.35 38.4
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AP-12-128 183.04 184.04 1.00 0.02 96.0
244.82 250.48 5.66 0.10 25.0
includes 246.24 246.98 0.74 0.53 97.0
633.77 638.91 5.14 0.93 17.0
includes 636.72 637.75 1.03 2.64 25.1
641.47 654.10 12.63 0.33 9.1
includes 653.00 654.10 1.10 1.09 23.9
680.50 690.87 10.37 0.10 16.5
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AP-12-129 107.30 109.60 2.30 0.52 8.8
184.75 191.70 6.95 0.30 8.7
includes 189.57 191.70 2.13 0.54 23.3
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AP-12-130 96.82 104.09 7.27 1.30 31.1
includes 96.82 97.12 0.30 7.75 102.0
includes 97.64 98.97 1.33 2.84 103.0
119.41 121.85 2.44 0.64 2.0
176.58 182.96 6.38 0.43 1.8
194.85 200.77 5.92 1.91 3.2
includes 199.66 200.77 1.11 8.92 10.1
282.30 293.20 10.90 1.16 2.3
includes 284.95 286.10 1.15 8.77 4.4
313.90 317.92 4.02 0.71 2.3
325.76 346.05 20.29 0.64 1.1
includes 328.00 330.00 2.00 2.57 0.5
includes 340.40 343.46 3.06 1.51 1.9
366.27 369.40 3.13 1.24 1.8
includes 367.28 368.00 0.72 3.37 4.1
400.00 401.90 1.90 2.97 1.2
includes 400.00 400.95 0.95 5.33 2.0
447.53 449.04 1.51 0.58 4.4
454.71 459.60 4.89 0.53 1.2
--------------------------------------------------------------------About Newstrike (TSX VENTURE:NES)
Newstrike Capital Inc. is a gold-silver focused explorer, targeting known and historic mining districts in Mexico. Key senior members of the Company's current management and directors have participated in all the Guerrero Gold Belt discoveries, including Goldcorp Inc.'s producing Los Filos Mine and Torex Gold Resources advanced stage Morelos Project in Guerrero State.
Newstrike holds a 100% interest in certain exploration properties in Mexico located within two established mining districts; the Au (Ag-Cu) skarn-porphyry camp of the Guerrero Gold Belt, and the polymetallic Pb-Zn-Ag (Au-Cu) rich epithermal camp of the mining districts of Oaxaca State.
Some of the statements contained herein may be forward-looking statements which involve known and unknown risks and uncertainties. Without limitation, statements regarding potential mineralization and resources, exploration results, expectations, plans and objectives of Newstrike Capital Inc. are forward-looking statements that involve various risks. The following are important factors that could cause Newstrike Capital Inc.'s actual results to differ materially from those expressed or implied by such forward-looking statements: changes in the world wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future exploration activities and cash flows, and the uncertainty of access to additional capital. There can be no assurance that forward-looking statements will prove to be accurate as actual results and future events may differ materially from those anticipated in such statements. Newstrike Capital Inc. undertakes no obligation to update such forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on such forward-looking statements.