Highlights:
43 reconnaissance rock samples were collected from both several volcanogenic massive sulphide ('VMS') and vein-style targets and many returned highly anomalous copper and gold values.
15 samples returned values greater than 1% copper, up to 18.7% copper.
8 samples returned values greater than 0.50 grams per tonne ('g/t') gold, up to 5.02 g/t gold.
Two channel chip sample lines were collected at the Lower Mitchell vein-style target and returned anomalous values of copper, gold, zinc and silver.
Golden Spike's President and CEO,
'We are excited to receive the results from this reconnaissance sampling program at our 100%-controlled Gregory River Property. These samples were collected from multiple target areas in the north half of the Property and provide further support for the range of grades reported from the historically collected samples. In addition to the significant copper grades, many of the samples returned anomalous values of gold +/- silver and zinc and other pathfinder elements, further enhancing the exploration potential of the Property. Several of the samples returned gold values greater than 1.0 g/t gold, and as high as 5.02 g/t gold, and these areas will definitely be further evaluated during the next phase of exploration'
Reconnaissance Sampling Program
During the recent program, three VMS target areas (
Samples from the VMS targets are mostly from basaltic rocks with varying amounts of disseminated pyrite, chalcopyrite, as well as zones of quartz stringers and veinlets. Two of the samples, 815664 from Lode 9 and 815671 from
The samples collected from the vein-style targets are mostly from 1-2-metre-wide quartz veins and structurally controlled stockwork zones, hosted in basalt and gabbro and mineralized with varying amounts of pyrite, chalcopyrite, arsenopyrite and minor bornite and sphalerite.
The Lower Mitchell prospect appears to be a wider, east-to north-east trending, structurally controlled zone, hosted within intensely silicified basalt, mineralized with pyrite, chalcopyrite, arsenopyrite and traces of sphalerite. The alteration and mineralization are exposed in several outcrops and in an historically trenched area, spaced over an approximate 180 metre distance; however, the true width, orientation and dimension of this zone remains to be determined. Many of the grab and float samples returned anomalous copper and gold values, along with minor amounts of zinc, arsenic and occasional cobalt (Figure 2 and Table 2).
During the recent sampling program, the Company collected two, north-south oriented channel sample lines at Lower Mitchell, each spaced approximately 15 metres apart. Channel #1 is two metres in length and comprised of two, one-metre channel chip samples. Channel #2 is 5 metres in length and comprised of five, one-metre channel chip samples (Table 3). The sample results reveal multiple anomalous values of copper, gold and zinc, along with isolated silver anomalies and pathfinder elements, such as arsenic. A one-meter sample from Channel #2 returned a very high-grade value of 12.9% copper along with 0.23 g/t gold, 11.5 g/t silver and 0.27% zinc. Additional work is warranted at Lower Mitchell during Phase 2 exploration to better understand the mineralization controls and potential dimensions.
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