VANCOUVER, BRITISH COLUMBIA, Jun 20, 2013 (Menafn – Marketwired via COMTEX) –NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
Newstrike Capital Inc. (“Newstrike” or the “Company”) announces further results from the ongoing drilling program at the Company’s 100% owned Ana Paula Project in Guerrero, Mexico. These results are from drilling designed to test targets within Ana Paula’s floating cone pit (Newstrike press release May 8, 2013) and below the lower part of the breccia zone.
—AP-12-137 intersected a 143.78 meter section from 224.40 m to 368.18 m
of 2.57 g/t Au including 47.58 meters of 5.45 g/t Au from 320.60 m to
368.18 m, including 20.12 meters of 11.0 g/t Au from 322.14 m to 342.26
—AP-13-162 (partial results) intersected strong mineralization over
multiple intersections including a 214.55 meter section from 3.85 m to
218.4 m averaging 3.29 g/t Au, which includes 20.0 meters of 16.33 g/t
Au from 123.00 to 143.00 m.
Other intersections in AP-13-162 include:
—132.87 meters of 1.48 g/t Au from 417.35 to 550.22, which includes 88.34
meters of 2.03 g/t Au from 418.32 to 506.66 m, and higher grade
intercepts of 9.33 meters of 3.16 g/t Au from 423.52 to 432.85, 23.42
meters of 4.15 g/t Au from 479.40 to 502.82,
—10.10 meters of 3.23 g/t Au from 678.05 to 688.15.
AP-12-137 forms part of series of recommended infill holes designed to improve the mineral confidence within the Ana Paula floating cone pit (see Newstrike press release May 8, 2013) and to test an area above and west of the known breccia zone.
AP-13-162 (partial results) is the first of several drill holes designed to test the breccia body down-plunge to confirm the geometry and structure near the surface and to test the continuity of the breccia body at depth. To date assays have been received for the first two thirds of the hole which was completed at 1407.90 meters. The remainder of the hole will be reported in a future release.
Discussion of results
A total of 1,834.95 meters in 2 new holes, AP-12-137 and AP-13-162, are reported and will be added to the 130 holes available on the Company website together with the drill location maps and sections.
Results for AP-12-137 are consistent with other holes in this area and confirmed the presence of high-grade mineralization at depth as expected.
Hole AP-13-162 was drilled down the plunge of the breccia zone to determine its depth extent and position for later drilling across the structural grain. The lithologies and grades in the near surface portion of the breccia are very similar to those predicted from the geologic and block models. The portion of the hole below the 375 meter level down-hole is below the conceptual floating cone pit as defined in the maiden resource study. Several higher-grade intercepts were cut below this level and are included in the highlights listed above and in the table of results below.
Table 1. Preliminary drill hole collar locations
UTM WGS84OrientationTotal Quadrant
Drill holeE (m)N (m)(m) Azimuth Inclination(m)
Table 2. Selected weighted grade intersections
DrillholeFromTo(m)Au g/tAg g/t
pending for 968m to EOH225.30236.1410.841.051.8
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. ALS Chemex and Acme Labs (now a part of the Bureau Veritis group that includes BSI Inspectorate) 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 or MS 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.
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 at www.newstrikecapital.com.
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 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 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.
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 Thorson, 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 qualified person under NI43-101.
Neither the TSX Venture Exchange (the “TSXV”) nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) has reviewed, nor do they accept responsibility for the adequacy or accuracy of, this release.
Certain of the statements made in this news release contain forward-looking information within he meaning of applicable Canadian securities law. Material forward-looking information includes, but is not limited to statements or information with respect to the resource estimate and potential future exploration and development results and results of studies in respect of the Company’s Ana Paula Project. We have made numerous assumptions about the material forward-looking information contained herein, including among other things, that prices of gold and silver will remain relatively stable, that applicable permits will be obtainable and that any required financing will be available on reasonable terms. Even though our management believes that the assumptions made and the expectations represented by such statements or information are reasonable, there can be no assurance that the forward-looking statement or information will prove to be accurate. Forward-looking information by its nature involves known and unknown risks, uncertainties and other factors which may cause the actual results to be materially different from any future results expressed or implied by such forward-looking information.Such risks, uncertainties and other factors include, among others, the following: the inherent risks and uncertainty involved in the exploration and development of mineral properties; the uncertainties involved in interpreting drill results and other exploration data; the potential for delays in exploration or development activities; the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with the Company’s expectations; accidents, equipment breakdowns, labor disputes or other unanticipated difficulties with or interruptions in production and operations; fluctuating prices of metals and other commodities; currency fluctuations; the possibility of project cost overruns or unanticipated costs and expenses; uncertainties relating to the availability and costs of financing needed in the future; the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; regulatory restrictions, including environmental regulatory restrictions and liability; competition and loss of key employees; political instability in Mexico; the availability of key equipment; the risk of disruption from non-governmental organizations; risks relating to our common shares and the public markets. Should one or more of these risks, uncertainties or other factors materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking information. Although we have attempted to identify factors that would cause actual results to differ materially from those described in forward-looking information, there may be other factors that cause actual results, performances, achievements or events to not be as anticipated, estimated or intended. Also, many of the factors are beyond our control. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly you should not place undue reliance on forward-looking information. Except as required by law, we do not expect to update forward-looking information as conditions change and you are referred to the full discussion of the Company’s business contained in the Company’s reports filed with the securities regulatory authorities in Canada.
SOURCE: Newstrike Capital Inc.