Golden Spike Announces Start of Drilling, and Rock and Soil Sampling Results from Gregory River
Golden Spike Resources has commenced its inaugural drilling program at the Gregory River property's Steep Brook target in Newfoundland. Recent rock sampling results revealed significant copper values, with several samples exceeding 1.0% copper and reaching up to 7.57% copper, along with gold values up to 0.47 g/t. Channel Line #2 returned notable results of 2.5% copper and 0.2 g/t gold over 2.5 metres. The company also completed in-fill soil sampling at the Vein Zone, which extended and enhanced known copper anomalies. The planned drilling program includes approximately 14 holes totaling 3,000 meters across three target areas. Additionally, the company received approval for $95,691.86 in funding through the Newfoundland Junior Exploration Assistance Program.
Golden Spike Resources ha avviato il suo primo programma di perforazione presso il target Steep Brook della proprietà Gregory River in Newfoundland. I recenti risultati di campionamento di rocce hanno rivelato significativi valori di rame, con diversi campioni che superano l'1,0% di rame e arrivano fino al 7,57% di rame, insieme a valori d'oro fino a 0,47 g/t. La Linea Canale #2 ha riportato risultati notevoli del 2,5% di rame e 0,2 g/t d'oro su 2,5 metri. L'azienda ha inoltre completato il campionamento del suolo di riempimento nella Vein Zone, che ha ampliato e migliorato le anomalie di rame già note. Il programma di perforazione pianificato prevede circa 14 perforazioni per un totale di 3.000 metri in tre aree target. Inoltre, l'azienda ha ricevuto approvazione per $95.691,86 di finanziamenti attraverso il Programma di Assistenza all'Esplorazione Giovanile di Newfoundland.
Golden Spike Resources ha comenzado su programa inaugural de perforación en el objetivo Steep Brook de la propiedad Gregory River en Newfoundland. Los recientes resultados de muestreo de rocas revelaron valores significativos de cobre, con varias muestras que exceden el 1.0% de cobre y alcanzan hasta el 7.57% de cobre, junto con valores de oro de hasta 0.47 g/t. La Línea de Canal #2 devolvió resultados notables de 2.5% de cobre y 0.2 g/t de oro sobre 2.5 metros. La compañía también completó el muestreo de suelo de relleno en la Zona de Vetas, que amplió y mejoró las anomalías de cobre conocidas. El programa de perforación planificado incluye aproximadamente 14 pozos que totalizan 3,000 metros en tres áreas objetivo. Además, la empresa recibió aprobación para $95,691.86 en financiamiento a través del Programa de Asistencia para la Exploración Juvenil de Newfoundland.
골든 스파이크 리소스는 뉴펀들랜드에 위치한 그레고리 리버 property's Steep Brook 목표에서 첫 번째 시추 프로그램을 시작했습니다. 최근 암석 샘플링 결과에서 몇몇 샘플이 1.0% 구리를 초과하고 7.57% 구리에 도달하는 등 상당한 구리 값을 발견했습니다. 또한 금 값은 0.47 g/t까지 보고되었습니다. 채널 라인 #2에서는 2.5미터에서 2.5% 구리와 0.2 g/t 금이라는 주목할 만한 결과가 나왔습니다. 이 회사는 또한 Vein Zone에서의 메우기 토양 샘플링을 완료하여 알려진 구리 이상치를 넓히고 향상시켰습니다. 계획된 시추 프로그램에는 세 개의 목표 지역에 걸쳐 총 3,000미터에 이르는 약 14개의 구멍이 포함됩니다. 게다가 이 회사는 뉴펀들랜드 주니어 탐사 지원 프로그램을 통해 $95,691.86의 자금을 승인받았습니다.
Golden Spike Resources a lancé son programme de forage inaugural sur la cible Steep Brook de la propriété Gregory River au Newfoundland. Les récents résultats d'échantillonnage de roche ont révélé des valeurs de cuivre significatives, plusieurs échantillons dépassant 1,0 % de cuivre et atteignant jusqu'à 7,57 % de cuivre, ainsi que des valeurs d'or allant jusqu'à 0,47 g/t. La ligne de canal n° 2 a donné des résultats notables de 2,5 % de cuivre et 0,2 g/t d'or sur 2,5 mètres. L'entreprise a également complété l'échantillonnage du sol dans la Vein Zone, ce qui a élargi et amélioré les anomalies de cuivre connues. Le programme de forage prévu comprend environ 14 trous totalisant 3 000 mètres dans trois zones cibles. De plus, l'entreprise a reçu l'approbation de 95 691,86 $ de financement par le biais du Programme d'aide à l'exploration junior de Newfoundland.
Golden Spike Resources hat sein erstes Bohrprogramm im Steep Brook Ziel des Gregory River Grundstücks in Neufundland gestartet. Die aktuellen Gesteinsproben fanden signifikante Kupferwerte mit mehreren Proben, die 1,0% Kupfer übertreffen und bis zu 7,57% Kupfer erreichen, außerdem Goldwerte von bis zu 0,47 g/t. Die Kanal Linie #2 lieferte bemerkenswerte Ergebnisse von 2,5% Kupfer und 0,2 g/t Gold über 2,5 Meter. Das Unternehmen hat außerdem eine Bodenuntersuchung im Vein Zone abgeschlossen, die bekannte Kupferanomalien erweitert und verbessert hat. Das geplante Bohrprogramm umfasst etwa 14 Löcher mit insgesamt 3.000 Metern in drei Zielgebieten. Darüber hinaus erhielt das Unternehmen die Genehmigung über 95.691,86 $ an Fördermitteln durch das Junior Exploration Assistance Program von Neufundland.
- High-grade copper samples with values up to 7.57% copper
- Channel Line #2 returned 2.5% copper and 0.2 g/t gold over 2.5 metres
- Received $95,691.86 in government funding through JEA Program
- Multiple copper soil anomalies traced across 1,500m with grades up to 1,080 ppm
- None.
Vancouver, British Columbia--(Newsfile Corp. - October 29, 2024) - Golden Spike Resources Corp. (CSE: GLDS) (OTCQB: GSPRF) (FSE: L5Y) ("Golden Spike" or the "Company") is pleased to announce that the first drill hole at the Steep Brook target is underway. In addition, the Company is announcing the analytical results from the recent prospecting and rock sampling over the Steep Brook volcanogenic massive sulphide ("VMS") target, as well as results from the in-fill soil samples collected at the Vein Zone. Both targets are located at the Company's
Highlights:
- Drilling has commenced at Gregory River, with the inaugural hole at Steep Brook.
- Several recently collected rock samples at Steep Brook returned values greater than
1.0% copper, and up to7.57% copper. - Anomalous values of gold, up to 0.47 grams/tonne ("g/t") are associated with many of the samples.
- In-fill soil samples at the Vein Zone further enhance and extend the known copper anomalies.
Golden Spike's President and CEO, Keith Anderson commented,
"We are thrilled to announce the start of Golden Spike's inaugural drill campaign, which represents an important milestone for the Company. Our team and consultants have done a tremendous job collecting, analyzing and synthesizing all the data for our three main target areas at Steep Brook, Lode 9 and the Vein Zone and then preparing the infrastructure and drill pads for the drilling program. We will be anxiously awaiting the core as it comes up from the drill holes to see what potential mineralization is associated with the strong IP anomalies. We are also excited that our program of rock sampling at Steep Brook was able to validate the historical high-grade sampling and to provide further support for the drill targets. Finally, we continue to be impressed with the results of the soil surveys at the Vein Zone, which demonstrate the continuity of the copper soil anomalies at the Vein Zone and how effective this is as an exploration technique on the Property."
Diamond Drilling
On October 28, the drill commenced coring at the initial hole at Steep Brook. As previously announced on October 17 and October 24, the drilling program is expected to include approximately 14 holes (3,000 m), split between the Steep Brook, Lode 9 and Vein Zone Targets. The drill holes will test selected First Priority IP targets that have strong support from other layers of exploration data, including geological interpretations, geochemical information, historical drilling, and airborne magnetic data. The Company will provide drilling updates and results, as information becomes available. Photo 1 below shows the drill rig at the first drill site at Steep Brook (GR-24-01), ready to start coring.
Photo 1: Diamond Drill Set up at Drill Hole GR-24-1 at Steep Brook
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8310/228139_d4215d73a4ef6bce_001full.jpg
Steep Brook Prospecting/Sampling Program
As previously announced on August 19, the Company completed a program of prospecting and rock sampling over the Steep Brook VMS target, which was part of the 2024 Phase 1 Exploration Program. Sampling took place between July 19 and 29, 2024 and analytical results have now been received and reviewed by the Company. The sampling is concentrated in the Steep Brook Creek and some of its tributaries, where the majority of the outcrops occur.
A total of 33 rock samples were collected, which includes 23 mainly grab samples (representative composite of chips) and a few float samples. In addition, 10 samples were collected from four channel sample lines, ranging from 1.0 metre ("m") to 3.8 m in length. The channel sample lines were saw-cut along the outcrop, creating a sample approximately similar to a drill hole. The various rock samples were collected from both strata-bound and shear-zone hosted mineralization and several returned highly anomalous copper values, along with anomalies of gold, zinc and pathfinder element, arsenic (Figure 1 and Tables 1 and 2). The highlights of the sampling include:
- 5 grab and channel samples returned values greater than
1% copper, up to7.57% copper along with anomalous values of gold, up to 0.47 g/t. - Channel Line #2 returned 2.5% copper, 0.2 g/t gold over 2.5 metres, including
4.02% copper, 0.30 g/t gold over 1.5 metre.
Overall, the rock sample results ranged between:
- trace and
7.57% copper. - trace and 470 ppb gold.
- trace and
0.72% zinc. - 2 ppm and >1,000ppm arsenic
Samples are mostly from sheared basaltic rocks, including pillowed to massive flows and agglomerates, with varying amounts of disseminated to semi-massive pyrite, chalcopyrite, and traces of bornite, sphalerite and arsenopyrite. Zones of quartz-sulphide stringers and veinlets are also common. Basaltic rocks are often brecciated and strongly altered to chlorite-carbonate-silica assemblages. Many of the sampled mineralized outcrops, including some of the channel lines, appear to be partially covered by overburden and it is possible that some of the sampled zones are wider, or more continuous along strike than reported. Several of the upcoming drill holes will test these mineralized outcrops at depth and provide a better understanding of the mineralization potential.
The results of the prospecting and sampling program are significant since they support the general range of grades reported from historical sampling programs over the same area and provide "ground truth" evidence of mineralization that corresponds to several of the recently reported IP anomalies and historical soil samples.
Figure 1: Location of Recent Rock Samples and Historical Sampling from Steep Brook
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8310/228139_d4215d73a4ef6bce_002full.jpg
Note: Soil samples and rock samples are historical and since the companies that collected the data were mid-size to large, reputable companies that would have had sampling methodologies and quality control processes in place that were considered industry-standard for that time, the QP feels that it is reasonable to report these results as historical and provide a use guide for future exploration at these prospects.
Table 1: Significant Analytical Results from Steep Brook Rock Sampling
| Sample Number | Sample Type* | Copper (%) | Gold (ppb) | Silver (g/t) | Zinc (%) | Arsenic (ppm) |
| M096206 | Grab | 0.67 | 9 | 2.6 | 0.08 | 32 |
| M096208 | Grab | 5.55 | 160 | 7.1 | 0.04 | 477 |
| M096209 | Grab | 0.37 | 67 | 0.4 | 0.03 | 194 |
| M096211 | Grab | 0.27 | 208 | 0.2 | 0.03 | 275 |
| M096215 | Grab | 6.70 | 287 | 9.0 | 0.72 | 277 |
| M096231 | Grab | 0.52 | < 5 | 0.5 | 0.01 | 3 |
| M096236 | Grab | 2.89 | 359 | 2.3 | 0.04 | 317 |
*Grab samples are representative chip samples from outcrop over an area generally around 0.5 - 1 metre square;
Table 2: Steep Brook Target - Channel Sample Weighted Average Analytical Results
| Channel Chip | Number of Samples | Total Channel Length (m) | Copper (%) | Gold (ppb) |
| Channel #1 | 3 | 2.8 | 0.23 | 150 |
| Channel #2* | 3 | 2.5 | 2.50 | 202 |
| including | 2 | 1.5 | 4.02 | 299 |
| Channel #3 | 2 | 2 | 0.11 | 16 |
| Channel #4 | 1 | 1 | 0.18 | 61 |
Vein Zone Soil Sampling
As previously announced on August 19, 2024, the recent 2024 Phase 1 Exploration Program also included 35 soil samples that filled in selected data gaps from the original Vein Zone survey in late 2022. As shown on Figure 2 the new samples have successfully extended the copper soil anomalies in the southwest corner of the grid and enhanced the interpretation of the copper anomalies in the vicinity of the Court A prospect.
Combined with the results of the original survey, the interpretation of the copper soil data shows that there are multiple, subparallel, east-northeast trending and anastomosing, anomalies (>90 ppm) that can be traced across the Property for approximately 1,500 m, over widths ranging from 50 to 150 m. Higher grade zones (>150 ppm copper) occur in many of the anomalies with individual copper grades as high as 1,080 ppm. Other significant pathfinder elements, including zinc, gold, arsenic and cobalt, show similar trends.
Figure 2: In-Fill Soil Samples from the Vein Zone
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8310/228139_d4215d73a4ef6bce_003full.jpg
Many of these anomalies overlap with, or occur adjacent to, the locations of known veins at the Court A, B, and C prospects, but also continue for long distances over soil and till covered areas with no previous documented exploration or mineralization, providing compelling exploration targets for new veins.
Exposures of the vein mineralization are only found at a few locations and mostly occur as one to two-metre-wide, and locally up to five-metre-wide quartz veins and structurally controlled stockwork zones. The northwest to southwest trending veins are hosted predominantly in basalt and gabbro and mineralized with varying amounts of pyrite, chalcopyrite, arsenopyrite and minor bornite and sphalerite. The analytical results from the soil sampling appears to reflect the mineralogy from the veins and therefore provides an effective exploration technique to trace the potential strike extension of the veins below the overburden.
The recent IP survey over the Vein Zone has returned several high-priority IP anomalies that coincide with many of these soil anomalies and several of these will be drill-tested during the current drilling program.
JEA Program
Golden Spike Resources Corp. is deeply appreciative of being selected as a recipient of the Newfoundland Junior Exploration Assistance (JEA) Program. The anticipated financial support of
QA/QC and Qualified Person
All rock samples were submitted to Eastern Analytical in Springdale, Newfoundland, where they were analysed for gold by a 30-gram fire assay with an AA finish and a 34 -element ICP-OES package, using a 4-acid digestion. Samples that were over the upper detection limits for copper, zinc, silver and cobalt were further analysed by atomic absorption, using a 3-acid digestion. The soil samples followed the same analytical protocols. The Company incorporates a quality assurance/quality control (QAQC) program for the rock sampling program that included the regular insertion of standards, blanks and duplicates into the sample stream.
The scientific and technical information in this news release has been reviewed and approved for disclosure by Mr. Robert Cinits, P.Geo, a director of the Company and a "Qualified Person" within the meaning of National Instrument 43-101 - Standards of Disclosure for Mineral Projects.
About Golden Spike
Golden Spike Resources Corp. (CSE:GLDS), (OTCQB: GSPRF), (FSE: L5Y) is a Canadian mineral exploration company focused on identifying, acquiring and unlocking value in mineral opportunities in Canada and other low-risk jurisdictions. The Company currently holds
ON BEHALF OF THE BOARD OF DIRECTORS
Keith Anderson
Golden Spike Resources Corp.
830 - 1100 Melville St.,
Vancouver, BC, V6E 4A6
+1 (604) 786-7774
info@goldenspikeresources.com
www.goldenspikeresources.com
"Neither the Canadian Securities Exchange (the "CSE") nor its Regulation Services Provider (as that term is defined in policies of the CSE) accepts responsibility for the adequacy or accuracy of this release."
Cautionary Note Regarding Forward-Looking Statements
This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" occur.
Additionally, forward-looking information involve a variety of known and unknown risks, uncertainties and other factors which may cause the actual results to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: the volatility of global capital markets, political instability, unanticipated costs, risks relating to the extent and duration of the conflict in Eastern Europe and its impact on global markets, the lack of availability of capital and financing, general economic, market or business conditions, adverse weather conditions, failure to maintain all necessary government permits, approvals and authorizations, failure to maintain community acceptance (including First Nations), increase in costs, litigation, failure of counterparties to perform their contractual obligations, failure of the exploration program, including the recent IP survey and potential future drilling to result in the discovery of significant precious and/or base metal mineralization, and those risks, uncertainties and factors set forth in the Company's disclosure record under the Company's profile on SEDAR+ at www.sedarplus.ca . Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information contained herein. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement or forward-looking information disclosed herein, except in accordance with applicable securities laws.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/228139
FAQ
What are the latest copper sampling results from Golden Spike Resources (GSPRF) at Gregory River?
How many drill holes is Golden Spike Resources (GSPRF) planning at Gregory River in 2024?
What funding did Golden Spike Resources (GSPRF) receive for the Gregory River project?
