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Luckystrike Resources Ltd
Symbol C : LUKY
Shares Issued 39,626,688
Close 2019-09-16 C$ 0.11
Recent Sedar Documents

Luckystrike drills two m of 1.91 g/t Au at Lucky Strike

2019-09-18 07:50 ET - News Release

Mr. William Chornobay reports

LUCKYSTRIKE RESOURCES REPORTS RESULTS OF 2019 DRILL PROGRAM AT THE LUCKY STRIKE PROPERTY, WHITE GOLD DISTRICT, YUKON

Luckystrike Resources Ltd. has released the results of its 2019 diamond drill program on the Lucky Strike property. Four diamond drill holes totalling 1,105.82 metres were completed.

The Lucky Strike property, located in the heart of the Yukon's White Gold district, is 100 per cent owned by Luckystrike Resources with no underlying payments or royalties.

The 2019 drilling focused on the Monte Carlo zone and was designed to target a previously discovered 1.8-kilometre-long induced polarization (IP) chargeability anomaly. The intent was to understand the anomaly's relationship to gold mineralization on the property.

The associated table displays assay intercepts from the 2019 drill program:

  • Drill hole DDLS-19-01 intersected a broad, gold mineralized zone assaying 0.10 grams per tonne gold over 67.0 metres.
  • DDLS-19-01 also yielded multiple subzones, such as 1.91 g/t Au over 2.0 m from 249.0 to 251.0 m. These intercepts are typically marked by quartz veins with albitic alteration and pyritic mineralization.
  • DDLS-19-01 intersected gold mineralization at depth, assaying 0.88 g/t Au over 6.0 m from 273 to 279 metres downhole, indicating good potential for deeper gold-bearing zones.
  • Drill hole DDLS-19-02 intersected multiple zones of low-grade gold mineralization. Oxidized orthogneiss intersected near-surface assayed 0.29 g/t Au over 4.2 m from 17.0 to 21.2 m. A fault zone within a mica schist unit assayed 0.21 g/t Au over 10.3 m from 67.7 to 78.0 m.
  • DDLS-19-02 also intersected pyritic quartz-albite veining at depth, assaying 0.27 g/t Au over 5.0 m from 199 m to 204 m. Small breccia units and isolated gold-bearing quartz veins were identified toward the bottom of the hole. These yielded assays of 0.91 g/t Au over 1.0 m from 289 m to 290 m and 0.48 g/t Au over 1.0 m from 294 to 295 m, and also indicate good potential for gold mineralization at more depth.

The results of the 2019 drill program indicate that the 800-metre section of the IP anomaly that was drill tested did not correlate well with the gold mineralization intersected in 2018 drill hole DDLS-18-06 (4.55 g/t Au over 7.6 m). The source of the IP chargeability anomaly appears to be lithological in origin, likely caused by a magnetite-bearing chlorite schist unit.

The 2019 drilling revealed intercepts of lode-style mineralization throughout holes DDLS-19-01 and 19-02. Future drilling will focus on the Monte Carlo structure; a large, kilometer-scale, northwest-trending shear zone hypothesized as the source or main conduit of auriferous fluids occurring at Monte Carlo. The 2019 drill program did not target this structure; rather it was designed to test the chargeability anomaly along strike.

The Monte Carlo zone has a footprint of 1,500 by 450 metres, determined from soil and rock sampling, trenching, and geophysical surveying.

Monte Carlo is the northernmost zone of the 10 kilometre-long, southeast-trending Lucky Strike corridor. Along trend to the southeast is the Belmont, Samson, Boss and Maverick zones, all which remain to be drill tested.

                        ASSAY HIGHLIGHTS 

Hole ID            From            To      Interval          Au
                    (m)           (m)           (m)       (g/t)

DDLS-19-01       109.00        176.00         67.00        0.10
                            including
DDLS-19-01       115.00        116.00          1.00        0.86
DDLS-19-01       158.00        159.00          1.00        0.55
DDLS-19-01       162.00        163.00          1.00        0.45
DDLS-19-01       222.60        223.60          1.00        1.58
DDLS-19-01       232.00        233.00          1.00        0.72
DDLS-19-01       245.00        246.00          1.00        1.16
DDLS-19-01       249.00        251.00          2.00        1.91
DDLS-19-01       269.00        270.00          1.00        0.85
DDLS-19-01       273.00        279.00          6.00        0.88
                            including
DDLS-19-01       275.00        276.00          1.00        2.68
DDLS-19-02        17.00         21.20          4.20        0.29
DDLS-19-02        67.70         78.00         10.30        0.21
                            including
DDLS-19-02        74.00         77.00          3.00        0.43
DDLS-19-02       190.80        204.00         13.20        0.18
                            including
DDLS-19-02       199.00        204.00          5.00        0.27
                            including
DDLS-19-02       200.00        201.00          1.00        0.49
DDLS-19-02       272.00        273.00          1.00        0.59
DDLS-19-02       289.00        290.00          1.00        0.91
DDLS-19-02       294.00        295.00          1.00        0.48
DDLS-19-03       221.00        222.00          1.00        0.23
DDLS-19-04                                no significant values

Message from William (Bill) Chornobay, president and chief executive officer: "The results of this program indicate the potential for deeper, structurally controlled gold mineralization. The 2019 data will aid in the planning of future drill programs as we continue to gain a better understanding of the property."

Other

Sample analysis and assaying for all of Luckystrike's projects have been conducted by the Vancouver laboratory of Bureau Veritas Mineral Laboratories Canada (formerly Acme Analytical Laboratories Ltd.), an ISO-9001-accredited company. Rock and drill core samples were crushed, split and pulverized to provide a 250 g pulp at 200 mesh. For gold analysis, a 50 g split was fire assayed with an ICP-ES (inductively coupled plasma emission spectroscopy) finish (FA350-Au). Samples assaying greater than 10 parts per million Au were run with a gravimetric finish (FA550-Au). Samples also underwent 45-element analysis involving a multiacid digestion and ICP-ES/MS analysis (MA200). Rigorous quality assurance (QA) procedures were in place regarding sample collection, chain of custody and data entry. Certified quality control (QC) reference material, comprising standard samples and blank samples with known values, were routinely inserted into the sample stream to ensure the accuracy and lack of contamination of the assay process.

Carl Schulze, PGeo, consulting geologist with Aurora Geosciences Ltd., is a qualified person as defined by National Instrument 43-101, for Luckystrike's Yukon exploration projects, and has reviewed and approved the technical information in this release.

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