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Strike Minerals is a mining exploration and development company focused on it’s Edwards Gold Mine property in Wawa, Northern Ontario.
Message: Strike Minerals Provides Mineral Exploration Update, Edwards Mine Property
TORONTO, ONTARIO -- Strike Minerals Inc. (TSX VENTURE:STK) ("Strike" or the "Company"), announces that it has received the final report on the winter drilling program on its Edwards Mine Property near Wawa, Ontario.
The purpose of the drill program was to test the continuity, structure and extent of the gold mineralization in the known mineral zones proceeding towards a resource calculation. The program consisted of 12 holes totalling 2,998.1 metres (7,212 feet) of NQ drilling by Superior Diamond Drilling of Sault Ste. Marie, Ontario. All of the drill holes intersected the targeted veins and provided additional data that increased the extent of the gold mineralized zones.
Mike Newbury, President and CEO of Strike comments "The gold mineralization occurs in a quartz vein system and is similar to other gold quartz vein type deposits in northern Ontario and Quebec. The gold mineralization in these types of deposits has a nugget effect that can result in sections of the vein having no significant values. This drilling had a similar result in that some intersections had gold mineralization and some did not. Historical underground production from some zones has indicated that the bulk grade for the mineralized zones is approximately 0.30 oz/t gold. Also, as previously announced, the Company will be dewatering the Edwards Mine which creates a unique opportunity to conduct underground exploration on the identified gold mineralized zones and will provide significant advantages including reduced costs of the exploration program."
Drill hole ST 1-11 on the Plowman #1 zone on the Edwards Mine property, intersected a rusty bleached, highly siliceous section with quartz veining containing up to 30% sulphides that assayed 11.19 g/t Au over 3.66 metres (0.326 oz/t Au over 12.0 feet) from 124.5 to 128.2 metres down the hole (-300 feet vertical).
Drill hole ST 2-11, drilled below ST 1-11, intersected a mineralized zone with a grade of 2.06 g/t Au over 0.3 metres (0.06 oz/t over 1.0 foot) and a rusty weathered zone with 12.24 g/t Au over 0.6 metres (0.357 oz/t Au over 2.0 feet).
Drill hole ST 4-11 Intersected Plowman #1 vein with 1.54 g/t Au over 0.9 metres (0.045 oz/t over 3 feet).
Drill hole ST 6-11 intersected both zones – the Plowman #1 zone with 6.58 g/t Au over 0.6 metres (0.192 oz/t over 2 feet) and the Plowman #2 zone with 3.50 g/t Au over 1.52 metres (0.102 oz/t over 5.0 feet).
Drill hole ST 7-11 intersected the Plowman #1 zone with 34.2 g/t Au over 0.6 metres (0.998 oz/t over 2.0 feet)
The following holes confirmed the vein existence, but with no measurable gold intercepts: Drill hole ST 3-11, Drill hole ST 5-11, Drill hole ST 8-11, Drill hole ST 9-11, Drill hole ST10-11, Drill hole ST 11-11 and Drill hole ST 12-11.
Note: Intervals indicated are actual core lengths and true widths of identified zones have not been estimated.
As a result of this drilling the Plowman #1 zone has been outlined to a strike length of 152 m (500 feet) and the vertical depth to 158.2 m (520 feet). The Plowman #2 zone has been outlined to a strike length of 198 m (620 feet) and a vertical depth of 229 m (750 feet). Plowman #3 had been extended to a strike length of 122 m (400 feet) and a depth of 122 m (400 feet). All the zones are still open on width and depth.
The company has also completed geological mapping and sampling on its Clements claims consisting of four claim units that are situated approximately one mile northwest of the Edwards Mine property. The mapping and sampling identified a quartz vein that appeared to be an extension of a zone from the Michael Syndicate shaft located 425 m northwest of the showing on adjacent mineral claims. Five grab samples from the zone had values ranging from 2.3 g/t to 102.13 g/t grabbed over a 26 metre strike length.
Strike's contractor is now proceeding to setup pumps and related equipment to commence the dewatering of the ramp and underground workings on the property. This will enable the company to conduct underground exploration on the mineralized zones to determine the continuity and bulk grade of the gold mineralization. In addition Caracle Creek International Consulting Inc. has been engaged to digitize all the historical drilling and underground work on the property to assist in the interpretation and evaluation of the gold mineralization.
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