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Newstrike Drills 214 Meters of 3.0 g/t Gold at Ana Paula Project, Guerrero, Mexico
1/18/2011 1:33:20 PM - NFD
VANCOUVER, BRITISH COLUMBIA, Jan 18, 2011 (Marketwire via COMTEX News Network) --
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
Newstrike Capital Inc. (TSX VENTURE:NES) ("Newstrike" or the "Company") is pleased to announce assay results for the first eight holes from the Company's drill program at the 100%-owned Ana Paula Project, Guerrero Gold Belt, Mexico. Selected highlights include:
AP-10-19: 214.00 meters of 3.00 g/t Au and 5.5 g/t Ag, including;
0.80 meters of 31.20 g/t Au and 42.2 g/t Ag;
0.50 meters of 439.00 g/t Au and 126.00 g/t Ag, and
1.09 meters of 105.00 g/t Au and 6.6 g/t Ag.
AP-10-13: 24.03 meters of 2.14 g/t Au and 2.7 g/t Ag;
AP-10-16: 23.13 meters of 4.06 g/t Au and 6.1 g/t Ag, including;
1.00 meters of 77.35 g/t Au and 14.2 g/t Ag.
AP-10-17: 20.17 meters of 1.53 g/t Au and 4.3 g/t Ag.
All key objectives for the program have been achieved, including:
-- A comprehensive audit program, including a twin of Goldcorp Inc's
drillhole AP-05-06 by AP-10-12, has demonstrated the reliability of the
previous assay database.
-- A simplified exploration model has been drill tested that demonstrates a
high degree of predictably both on strike and down dip. This model will
be used for planning resource drilling and will be continuously refined
as drilling progresses.
-- Step out drilling has extended known mineralization from a 400 by 600
meter area to a 500 by 1000 meter area of mineralization that remains
open in all directions and at depth.
-- A second drill rig mobilized in December is completing a series of
infill drill holes (50-100 meter) that is demonstrating continuity of
the gold mineralization both along strike and down dip.
Richard Whittall, President and CEO of Newstrike, commented, "Our initial results are indicative of another significant gold discovery in the Guerrero Gold Belt. Ana Paula is already an exploration success with tremendous expansion potential. I look forward to continued excellent results as we progress with our drilling program."
Summary:
-- The Ana Paula Project is central to Newstrike's 88,000 hectares in the
GGB and forms part of a district scale mining camp that is host to Torex
Gold's 'Morelos Project' and to Goldcorp's producing 'Los Filos'
project.
-- Newstrike is currently testing a one by two kilometer surface outcrop
gold anomaly with coincident geophysical anomalies in the Ana Paula
Project, a 400 by 600 meter portion of which was previously drilled
tested in 2005 by Goldcorp Inc. (TSX:G, NYSE:GG). Drill results reported
herein comprise 3,032 metres out of a total 4,529 meters drilled in 2010
in 12 holes, two of which were in progress at the end of the year. Assay
results are pending for the remaining holes.
-- Assay results indicate that higher grade gold mineralized intercepts
tend to occur at contacts between intrusive rocks and altered sediments,
and that thick lower grade disseminated and stock work mineralization
occurs within sills or dikes and locally within hornfels. Mineralization
is associated with a series of stacked intrusions that intrude
siliciclastic and carbonate sediments, a setting that is typical of the
Guerrero Gold Belt skarn porphyry model for mineralization. A large body
of mineralized complex breccia was also recently discovered at the Ana
Paula Project.
-- Results demonstrate an important potential to host multiple gold bearing
intercepts over wide mineralized intervals that show good continuity
both across and down section, with excellent predictability from a
planning perspective. This, along with improving grade and thickness to
the west and southwest, speaks to the large volume potential developing
at Ana Paula.
-- Drilling is underway in 2011 with two drill rigs that started on January
12th. Drilling continues with the planned program of step out and infill
drill holes.
Table of selected highlights from Phase 1 Drilling at Ana Paula, Guerrero
Weighted grade drill intercepts using a 0.2 g/t cutoff.
--------------------------------------------------
Drill Hole From To Interval Au (g/t) Ag (g/t)
--------------------------------------------------
AP-10-12 74.40 114.50 40.10 0.80 14.4
-------- includes 74.40 78.75 4.35 5.07 130.8
146.00 162.85 16.85 0.61 2.3
211.15 236.60 25.45 0.51 5.2
257.56 262.37 4.81 2.33 14.4
AP-10-13 103.94 121.65 17.71 0.92 2.5
-------- includes 105.63 109.55 3.92 2.86 6.6
179.43 203.46 24.03 2.14 2.7
180.93 194.46 13.53 3.57 4.6
includes 186.96 192.96 6.00 6.76 5.5
includes 191.46 192.96 1.50 15.49 9.0
271.76 297.40 25.64 0.62 2.4
AP-10-14 46.50 52.50 6.00 0.58 12.4
-------- 96.50 100.50 4.00 0.80 10.1
254.50 290.00 35.50 0.36 14.9
300.00 302.29 2.29 3.20 19.4
AP-10-15 58.98 84.30 (i)25.32 0.30 29.5
-------- 308.70 348.00 (ii)39.30 0.81 4.3
includes 315.00 324.00 9.00 1.32 2.4
335.00 348.00 13.00 0.55 2.8
361.04 363.00 1.96 0.51 0.0
431.75 435.75 4.00 0.52 0.0
AP-10-16 95.87 119.00 23.13 4.06 6.1
-------- includes 96.63 103.00 6.37 13.61 17.3
includes 100.00 101.00 1.00 77.35 14.2
154.00 164.00 10.00 0.67 2.2
includes 156.00 162.00 6.00 0.92 2.3
AP-10-17 24.50 26.00 1.50 7.04 3.0
-------- 40.83 61.00 20.17 1.53 4.3
includes 48.00 59.00 11.00 1.96 5.6
AP-10-18 62.23 79.20 16.97 0.65 3.9
-------- includes 72.00 79.20 7.20 1.11 6.2
93.07 95.18 2.11 1.35 4.4
127.10 137.10 10.00 0.51 1.1
189.00 193.12 4.12 1.28 12.9
AP-10-19 74.30 89.50 15.20 2.83 14.7
-------- includes 74.83 76.29 1.46 21.50 32.5
109.00 323.00 214.00 3.00 5.5
includes 137.00 137.80 0.80 31.20 42.2
and 147.00 243.22 96.22 5.80 8.5
includes 153.00 164.70 11.70 23.69 21.5
includes 153.00 153.50 0.50 439.00 126.0
and 164.00 164.70 0.70 27.00 16.9
and 194.85 207.87 13.02 12.36 2.3
includes 198.78 199.87 1.09 105.00 6.6
includes 226.6 228.6 9.14 5.89 33.1
--------------------------------------------------
(i) Includes samples of 0.074 g/t Au/0.64meters and 0.055 g/t Au/1.00 meters
(ii) Includes 3 consecutive samples averaging 0.132 g/t Au/3.0 m
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