Luckystrike Resources Provides Update on Assays Results
VANCOUVER, Sept. 28, 2018 - Luckystrike Resources Ltd. (LUKY.V) reports that assays for the 2018 exploration season remain pending, with approximately 9 tonnes of rock, drill core and soil samples submitted to the lab. Due to the large volume of samples, assay wait times have been much longer than anticipated. The company has now been informed that final assays can be expected within the next 3 weeks. Results will be released as soon as they have been compiled and interpreted.
Located in the heart of the Yukon’s White Gold District, the Lucky Strike property covers 156 square kilometers and is 100%-owned by Luckystrike Resources with no underlying payments or royalties. As stated in the Company’s September 10, 2018 news release, 11 diamond drill holes totalling 1359.71m were completed.
In addition to drilling, the most extensive mechanized trenching program to date was completed across all know target zones within the 10 km Lucky Strike trend. Eleven trenches totalling 1865.5 meters (1.865 km) were completed: two at Monte Carlo (213m), two at Belmont (810m), one at Samson (150m), five at Boss (526m) and one at Maverick (166.5m). Details of these gold mineralized zones can be found in the May 22, 2018 news release.
The 2018 exploration season also allowed for the completion of a widespread reconnaissance soil sampling and prospecting program on the large, under-explored southeast half of the property. where 2540 soil samples and 148 rock grab samples were taken.
Bill Chornobay President and Chief Executive Officer comments:
We are pleased that we have met or exceeded our exploration objectives this season and look forward to receiving and reporting the assay results with much anticipation. We understand with the increased exploration activities delays such as this cannot be avoided.
Stefan Kruse, Ph.D., P. Geo., Chief Geologist, is a qualified person as defined by National Instrument 43-101, for Luckystrike's Yukon exploration projects and had supervised the preparation of, and has reviewed and approved, the technical information in this release.
ON BEHALF OF THE BOARD
Bill Chornobay President, Chief Executive Officer and Director
For new information from the Company's programs, please visit Luckystrike's website at LuckystrikeRes.com or contact Jeff Stuart of King James Capital Corporation, handling Investor Relations for Luckystrike, by telephone at (604) 210-2150 or by email at jstuart@kingjamescapital.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
Statements contained in this news release that are not historical facts are “forward-looking information” or “forward-looking statements” (collectively, “Forward-Looking Information”) within the meaning of applicable Canadian securities legislation. In certain cases, Forward-Looking Information can be identified by the use of words and phrases such as “anticipates”, “expects”, “understanding”, “has agreed to” or variations of such words and phrases or statements that certain actions, events or results “would”, “occur” or “be achieved”. Although Luckystrike has attempted to identify important factors and risks that could affect Luckystrike and may cause actual actions, events or results to differ materially from those described in Forward-Looking Information, there may be other factors and risks that cause actions, events or results not to be as anticipated, estimated or intended, including, without limitation: inherent risks 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 Luckystrike’s expectations; accidents, equipment breakdowns, title and permitting matters; labour disputes or other unanticipated difficulties with or interruptions in operations; fluctuating metal prices; unanticipated costs and expenses; uncertainties relating to the availability and costs of financing needed in the future, including to fund any exploration programs on its projects; that Luckystrike may not be able to confirm historical exploration results and other risks set forth in Luckystrike's public filings at www.sedar.com. In making the forward-looking statements in this news release, Luckystrike has applied several material assumptions, including the assumption that general business and economic conditions will not change in a materially adverse manner. 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, readers should not place undue reliance on Forward-Looking Information. Except as required by law, Luckystrike does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.