VANCOUVER, BC / ACCESSWIRE / March 6, 2023 / Golden Spike Assets Corp. (CSE:GLDS) (“Golden Spike” or the “Firm“) is happy to announce that it has obtained full analytical outcomes from a program of soil sampling on the Vein Zone goal, positioned within the northern portion of the Gregory River Copper-Gold property (the “Property”) in western Newfoundland. As well as, the Firm has additionally obtained all required Authorities of Newfoundland and Labrador permits to provoke the 2023 exploration program.
- Soil outcomes reveal a number of westerly-trending, multi-element anomalies with copper, zinc, gold, cobalt and arsenic values.
- The linear soil anomalies overlap with, or happen adjoining to, the places of recognized veins on the Court docket A, B, and C prospects, but in addition proceed for multiple kilometre alongside strike over areas with no earlier documented exploration.
- The soil survey additionally reveals further multi-element anomalies offering compelling exploration targets for brand spanking new veins.
Golden Spike’s President and CEO, Keith Anderson commented,
“We’re excited to obtain the outcomes from our preliminary soil sampling program at our 100%-controlled Gregory River Property. These wide-spaced soil samples have been initially collected to check the effectiveness of soil surveying over the Vein Zone and the outcomes are very encouraging. Not solely did the soil survey outcomes present anomalous geochemical responses close to every of the recognized vein occurrences, however these anomalies proceed for multiple kilometre alongside strike offering robust exploration targets for vein-style mineralization. The survey additionally recognized a number of new potential tendencies between the recognized veins, in areas with no earlier documented exploration. With all exploration permits now in hand, we look ahead to fine-tuning our exploration program and initiating subject work for an thrilling 2023 subject season.”
2022 Soil Sampling Program
Throughout late 2022, the Firm accomplished a program of wide-spaced soil sampling over an approximate 1.6-kilometre by 2.0-kilometre grid on the Vein Zone (Determine 1). The survey comprised of 203 samples, collected at 200-metre line spacing and 50-metre pattern spacing, focusing on the B-horizon soil layer. Attributable to troublesome climate situations and the boggy terrain overlying a lot of the Vein Zone, a number of of the proposed soil pattern places weren’t efficiently collected leaving occasional knowledge gaps within the grid (Determine 2). Throughout the upcoming 2023 subject exploration program an try will probably be made to gather further samples in a few of the gaps. As well as, in-fill sampling will probably be accomplished in chosen areas of the Vein Zone to offer higher decision of the soil anomalies to assist decide potential drill targets. The soil grid over the Steep Brook VMS goal (Determine 1), which was not accomplished throughout 2022 as a result of poor climate situations, will even be initiated.
The vary of analytical values obtained for every vital factor from the Vein Zone soil survey are as follows:
- Copper: 6 – 1,040 ppm
- Zinc: 20 – 412 ppm
- Gold: <5 - 74 ppb
- Arsenic: 3 – 329 ppm
- Cobalt: 7 – 103 ppm
Contoured soil outcomes for copper present a number of 50- to 150-metre-wide anomalies (>90 ppm copper) that may be traced intermittently for greater than a kilometre alongside north-northwest to south-southwest trending instructions. Larger grade cores (>150 ppm copper) happen in lots of the anomalies with copper grades as excessive as 1,040 ppm. Different vital components, together with zinc, gold, arsenic and cobalt, present related tendencies. The contoured soil copper values from the Vein Zone are proven on Determine 2.
Nearly all of the Vein Zone is roofed with publish mineral cowl, composed of until and soil layers lined with low bushes, grass and moss. Rock outcrops are uncommon and principally present in eroded creek beds. Exposures of the vein mineralization are solely discovered at a couple of places and principally happen as one to two-metre-wide, and domestically as much as five-metre-wide quartz veins and structurally managed stockwork zones. The northwest to southwest trending veins are hosted predominantly in basalt and gabbro and mineralized with various quantities of pyrite, chalcopyrite, arsenopyrite and minor bornite and sphalerite. The analytical outcomes from the soil sampling seems to mirror the mineralogy from the veins and are due to this fact supplies an efficient exploration method to hint the potential strike extension of the veins beneath the overburden.
Throughout 2023 the Firm plans to additional discover the VMS targets and the vein zone by way of further soil sampling, mapping, sampling, trenching, geophysics and diamond drilling.
Golden Spike is happy to announce the receipt of floor exploration permits for the 2023 subject season from the Division of Pure Assets, Newfoundland and Labrador. The exploration allow applies to floor fieldwork, together with geochemical surveys, floor geophysics, camp institution, entry path enhancements and diamond drilling.
QA/QC and Certified Individual
The Firm retained the companies of Planet X Exploration Companies Ltd., primarily based out of Gander, Newfoundland, to finish the soil sampling survey. All soil samples have been submitted to Jap Analytical, the place they have been analysed for gold by a 30-gram hearth assay and a 34 -element ICP-OES package deal, utilizing a 4-acid digestion. Samples that have been over the higher detection limits for copper, zinc, silver and cobalt have been additional analysed by atomic absorption, utilizing a 3-acid digestion. The Firm follows a rigorous high quality assurance/high quality management (QAQC) program for the sampling packages that features the common insertion of requirements, blanks and duplicates into the pattern stream.
The scientific and technical data on this information launch has been reviewed and accredited for disclosure by Mr. Robert Cinits, P.Geo, a director of the Firm and a “Certified Individual” throughout the that means of Nationwide Instrument 43-101 – Requirements of Disclosure for Mineral Tasks.
About Golden Spike
Golden Spike Assets Corp. (CSE:GLDS) is a Canadian mineral exploration firm centered on figuring out, buying and unlocking worth in mineral alternatives in Canada and different low-risk jurisdictions. The Firm presently holds the rights to amass 100% curiosity within the 3,425-hectare Gregory River Property in Newfoundland, strategically centered over an approximate 11-kilometer-long stretch of the Gregory River VMS-belt, a north-northeast trending hall of very potential floor with potential to host Cyprus-type polymetallic VMS deposits. As well as, the Property hosts a cluster of traditionally explored, high-grade, copper ±gold vein buildings.
ON BEHALF OF THE BOARD OF DIRECTORS
Golden Spike Assets Corp.
830 – 1100 Melville St.,
Vancouver, BC, V6E 4A6
+1 (604) 786-7774
“Neither the Canadian Securities Trade (the “CSE”) nor its Regulation Companies Supplier (as that time period is outlined in insurance policies of the CSE) accepts duty for the adequacy or accuracy of this launch.”
Cautionary Assertion Relating to Ahead-Wanting Info
This information launch might include “forward-looking data” and “forward-looking statements” throughout the that means of relevant Canadian securities laws. All data contained herein that isn’t historic in nature might represent forward-looking data. Ahead-looking statements herein embrace however will not be restricted to statements regarding the prospects for growth of the Firm’s mineral properties, and are essentially primarily based upon various assumptions that, whereas thought of affordable by administration, are inherently topic to enterprise, market and financial dangers, uncertainties and contingencies that will trigger precise outcomes, efficiency or achievements to be materially totally different from these expressed or implied by ahead wanting statements. Besides as required by legislation, the Firm disclaims any obligation to replace or revise any forward-looking statements. Readers are cautioned to not put undue reliance on these forward-looking statements.
SOURCE: Golden Spike Assets Corp.