Nevada Zinc Extends Discovery Zone Mineralization Results Include 5.05% Zinc Over 50.29 Metres

Toronto, Ontario – April 23, 2015 – Nevada Zinc Corporation (“Nevada Zinc” or the “Company”) (TSX-V: NZN) announces that the final Phase 2 drill  results show the continuation of the zinc mineralization at the Discovery Zone both to the southwest (up-dip) and to the southeast (along strike). Drill hole LM-15-24 intersected significant zinc mineralization averaging 5.05% zinc and 0.21% lead over a 50.29 metre (165 foot) interval closer to surface than other previously announced drill holes. Drill holes LM-15-21 and LM-15-22 extend the southeasterly extent of the mineralization by approximately 30 metres.  The Company recently received BLM drilling authorization for additional work on the Lone Mountain property (the “Property”) and the Company reports that the Phase 3 drill program at the Property has now commenced.
 
President and CEO, Bruce Durham commented on the results: “The latest drill results continue to expand the footprint of the Discovery Zone mineralization along strike and up dip from previously released assay results. We now have a drill section influence of approximately 150 metres and we have traced the mineralization along its dip plane for some 250 metres. The thickness of the intersections is variable but so far they appear to average 30-40 metres. The key point is that the zone remains virtually wide open in all directions”.
 
Highlights

 
  • Drill hole LM-15-21 (-75 degrees) intersected three zones of zinc and lead mineralization in the interval from 138.68 to 210.31 with the longest section being 12.19 metres averaging 3.14% zinc with only minor lead.
  • Drill hole LM-15-22 (-65 degrees) intersected four zones of zinc and lead mineralization in the interval from 134.11 to 233.17 with the longest section being 36.58 metres averaging 3.90% zinc with only minor lead.
  • Drill hole LM-15-23 (-45 degrees) first intersected anomalous zinc at 85.34 metres. From 85.34 metres many sample intervals were not recovered through to 135.64 metres. Where sample material was recovered, assays ranged from 0.2% zinc up to 11.45% zinc. Due to the number of missing samples, no real average for the 50.3 metre interval could be calculated. However, the interval from 117.35 to 135.64 metres averaged 3.76% zinc even including zero grade assigned to and averaged into 50% of the interval.
  • Drill hole LM-15-24 (-60 degrees) intersected a broad zone of zinc and lead mineralization in the interval from 96.01 to 146.30 that averaged 5.05% zinc and 0.21% lead, including higher grade intervals as shown in the accompanying table. One interval from 134.11 to 140.21 assayed 21.81% zinc and 0.92% lead over 6.10 metres.
  • Drill hole LM-15-25 (-50 degrees) intersected a narrow zone of zinc and lead mineralization in the interval from 117.35 to 120.40 that averaged 3.86% zinc (drilled off section).
  • The assay results from the Phase 1 and early Phase 2 drill holes indicate the presence of intervals of significant zinc-lead mineralization up-dip, down-dip and in both directions along strike from the high grade zinc lead Discovery Zone first reported in the Company’s press release dated November 19, 2014 as well as at a location some 200 metres to the southeast.
  • A strong coherent zinc in soil anomaly accompanies the up-dip projection of the mineralization for a minimum 1400 metre length parallel to stratigraphy.
  • Phase 3 drill program has commenced.


Drilling Plan Map

Drilling Sections

Discovery Section

 

Drilling Cross Section

Drilling Details

Reverse circulation drill holes LM-15-21 and LM-15-22 were drilled from the same setup to test for the presence of non-sulphide zinc mineralization along trend from the Discovery Zone and toward the historic Mountain View mine. Each of the holes intersected more than one area of mineralization as shown in the table and on the cross sections. The zone remains open to the southeast toward the Mountain View mine  

Reverse circulation drill holes LM-15-23 LM-15-24, and LM-15-25 were drilled from the same setup to test for the presence of non-sulphide zinc mineralization up dip from the Discovery Zone on the Discovery Zone section. Each of the holes LM-15-23 and LM-15-24 intersected more than one area of mineralization as shown in the table and on the cross sections. The zone remains open to the southwest up dip toward surface. Drill hole LM-15-23 intersected broad areas of mineralization that included significant high grade values as shown in the table. Drill hole LM-15-24 intersected zinc mineralization over a 50 metre interval although less than half of the 1.52 metre sample intervals were recovered and available for analysis. The best recovered interval in this hole had only half of the sample intervals available for analysis and therefore half of the samples were included at zero grades for zinc and lead but still averaged 3.76% zinc over 18.28 metres. The Company plans to attempt to re-drill this area in the future.  

Drilling Results

Significant assays from the drill program are presented in the following tables:

RC Hole ID: LM-15-21

From (m) To (m) Interval (m) Zn (%) Pb (%) Zn+Pb (%)
138.68 147.83 9.15 1.44 1.63 3.07
153.92 158.50 4.58 3.31 0.13 3.44
198.12 210.31 12.19 3.14 0.01 3.15


RC Hole ID: LM-15-22

From (m) To (m) Interval (m) Zn (%) Pb (%) Zn+Pb (%)
134.11 149.35 15.24 2.59 0.69 3.28
167.64 204.22 36.58 3.90 0.03 3.93
214.88 216.41 1.52 5.71 0.00 5.71
230.12 233.17 3.05 2.91 0.08 2.99


RC Hole ID: LM-15-23

From (m) To (m) Interval (m) Zn (%) Pb (%) Zn+Pb (%)
117.35 135.64 18.29 3.76 0.01 3.77
including
117.35 118.87 1.52 11.45 0.03 11.48
123.44 135.64 12.19 4.21 0.01 4.22


RC Hole ID: LM-15-24

From (m) To (m) Interval (m) Zn (%) Pb (%) Zn+Pb (%)
96.01 146.30 50.29 5.05 0.21 5.26
including
97.54 103.63 6.10 11.22 0.39 11.61
134.11 140.21 6.10 21.81 0.92 22.73


RC Hole ID: LM-15-25

From (m) To (m) Interval (m) Zn (%) Pb (%) Zn+Pb (%)
117.35 120.40 3.05 3.86 0.00 3.86



Based on the results of the entire phase 1 + phase 2 drill programs the Company is currently unable to determine the
 true width of the intersections reported in this and prior releases.

The Phase 2 drill program was mostly comprised of reverse circulation drilling targeted at extending the known dimensions of the Discovery Zone tested in the Phase 1 drill program and drill testing the known and interpreted zinc-lead mineralization identified in the studies completed in the Phase 1 drill program. The Company met this objective and plans to further extend the limits of the Discovery Zone in the Phase 3 drill program. Work also commenced on a number of technical fronts that will include preliminary work on the characteristics of the mineralization. The Company has designed a program of broad spaced drill testing of a strong soil geochemical anomaly that appears to correlate with the interpreted location of the surface expression of the zinc-lead mineralized zones of interest. The surface trace of the strongest zinc in soil anomaly also correlates well with the on-strike location of the historic zinc mine on the Mountain View mine claim. A second well defined anomaly that is primarily lead with lesser anomalous zinc appears to roughly correlate with the location of the more easterly part of the drill holes completed to date. Each of these anomalies extends for 1400 metres northwest from the Mountain View mine claim. Additional geochemical data has been collected to the southeast of the Mountain View mine claims and is currently being evaluated.


About Lone Mountain

The Property is comprised of 217 claims covering approximately 4,000 acres and is held 100% by Nevada Zinc subject to certain terms as per the underlying agreements disclosed on SEDAR (press release June 24, 2014).

The Property is located in east-central Nevada and is easily accessible via paved and gravel roads northwesterly from Eureka where all essential services are generally available. The Property surrounds the former Mountain View mine that is reported to have produced some 5 million pounds of zinc and some 0.6 million pounds of lead from non-sulphide mineralization comprised of smithsone, zincite, hydrozincite and cerussite.

The Company maintains a QA/QC program on the analytical process. Additional assay results will be released when received and subsequent to passing QA/QC review.


Sample Preparation and Quality Control

 Supervision and organization of reverse circulation drilling chip samples was undertaken by Nevada Zinc personnel.  Samples were collected at 5-ft intervals from a rotating wet splitter assembly attached to the drill rig. Chip tray samples were collected from the reject side of the wet splitter. The splitter was adjusted to produce 10-20 lbs of sample.  Samples were collected from the drill in cloth bags by employees of New Frontier Drilling under the supervision of Nevada Zinc personnel.  Samples were catalogued by Nevada Zinc geologists and stored in a secure location.  Certified reference standards were placed in the sample stream of each drill hole at random intervals.  Blank material was also inserted at random intervals.

 

Assay Techniques

 Preparation of the samples was done at the ALS Chemex Elko, NV facility.  A 250 gram master pulp was taken, then splits were sent to ALS’s North Vancouver, BC facility or their Reno, NV facility.  A 48 element package using a 4 acid digestion with ICP-AES and ICP-MS completed on all samples. For lead and zinc values exceeding the limits of the 48 element package (1% zinc or lead), the procedure was to use a 4 acid digestion with ICP-AES or AAS finish (ore grade analysis).  In the case of values exceeding the limits of the ore grade analysis (30% zinc, 20% lead), the procedure was to use specialized titration methods. 

 

 Laboratory QA/QC

Quality control samples from the lab include numerous control blanks, duplicates and standards. Reference standards used include OREAS-133b, OREAS-134b, OGGeo08, and CZN-4.  No issues were noted with analytical accuracy or precision. 

ALS Chemex’s Reno, Elko, and North Vancouver locations have ISO/IEC 17025:2005 accreditation.

   

Bruce Durham, P.Geo, is a qualified person as that term is defined by National Instrument 43-101 on behalf of the Company and has approved the scientific and technical content contained in this press release.

About Nevada Zinc

Nevada Zinc is a discovery driven, early-stage mineral exploration company with a proven management team focussed on identifying unique opportunities in mineral exploration that can provide significant value to its shareholders. The Company’s existing projects are located in Nevada and Yukon.

For further information contact:                     

Nevada Zinc Corporation 
Suite 1500 - 4 King St. W.
Toronto, Ontario M5H 1B6 
Tel: 416-504-8821

Bruce Durham

President and CEO
bdurham@nevadazinc.com 

www.nevadazinc.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.

This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc.  Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties.  Actual results may differ materially from those currently anticipated in such statements.

 

Nevada Zinc Intersects Near Surface High Grade Zinc Mineralization Including: 18.32% Zinc over 6.10 metres

Toronto, Ontario – April 8, 2015 – Nevada Zinc Corporation (“Nevada Zinc” or the “Company”) (TSX-V: NZN) announces that the latest Phase 2 drill holes on the Company’s Lone Mountain property (the “Property”) intersected significant zinc mineralization in a location more than 200 metres from any drilling reported to date. The significant zinc mineralization in the drill holes is projected to correlate directly with the location of a 1400 metre long surface zinc geochemical anomaly on the Property in Eureka County, Nevada.  The Company has now received BLM drilling authorization for drilling in new areas and will commence Phase 3 drilling at various Property sites this month.

President and CEO, Bruce Durham commented on the recent results: “These latest drill results, more than 200 metres along strike from previously released assay results, considerably expand the footprint of the Company’s discovery and definitely shows that there is more than one area of zinc mineralization on the Property.  We have discovered this mineralization near surface and very close to the 1400 metre long soil geochem anomaly which gives us confidence that we will discover more zinc mineralization by targeting this anomaly with the Phase 3 drill program scheduled to start next week.”

Drilling Cross Section

The first hole in this area, LM-15-16 (-45 degrees) intersected shallow zinc mineralization that averaged 11.05% zinc over a hole length of 10.67 metres (35 feet). The mineralization was intersected at a vertical depth of only 25 metres.

The second hole from the same setup, LM-15-17 (-90 degrees), intersected the same mineralized system as hole LM-15-16 with the zinc mineralization averaging 3.04% over 22.86 metres (75 feet) including a higher grade interval averaging 5.21% zinc over an interval of 12.19 metres (40 feet). The top of the mineralized zone is located 35 metres below surface.

The third hole at this location drilled between the initial two holes, LM-15-18 (-66 degrees) intersected the widest interval of mineralization and averaged 6.14% zinc over 47.25 metres (155 feet), including a high grade interval of 18.32% zinc over a 6.1 metre (20 feet) interval. The top of the mineralized zone is 27 metres below surface.

Two other holes in this area, LM-15-19 and LM-15-20 did not intersect significant mineralization although one hole, drilled at an acute angle to the trend of the mineralized zone (for structural information) may have been terminated prior to intersecting the mineralization (see details below and in the accompanying table).

 

Highlights

  • Drill hole LM-15-16 (-45 degrees) intersected zinc mineralization that averaged 11.05% zinc over a 10.67 metre (35 foot) interval at a vertical depth of only 25 metres.
  •   Drill hole LM-15-17 (-90 degrees) intersected the same mineralized system with zinc mineralization averaging 3.04% over 22.86 metres (75 feet) including a higher grade interval averaging 5.21% zinc over an interval of 12.19 metres (40 feet).
  • Drill hole LM-15-18 (-66 degrees) intersected the widest interval of mineralization and averaged 6.14% zinc over a hole length of 47.25 metres (155 feet), including a high grade interval of 18.32% zinc over a 6.1 metres (20 feet).
  • The assay results from the Phase 1 and early Phase 2 drill holes indicate the presence of intervals of significant zinc-lead mineralization up-dip and to the northwest and southeast of the discovery first reported in the Company’s press release dated November 19, 2014 and now at a location some 200 metres to the southeast.
  • A strong coherent zinc in soil anomaly accompanies the up-dip projection of the mineralization for a minimum 1400 metre length parallel to stratigraphy.
  • The mineralization at this latest location is almost entirely zinc. This style of mineralization correlates with the findings of the geochem survey results in that the 1400 metre long geochem target has high coherent zinc values with weak lead values.
  • The next drill program will begin to test for the presence of zinc mineralization in association with the well-defined geochem anomaly.
  • Phase 3 drilling is scheduled to commence in one week.

 

Drilling Plan Map

Drilling Details

Reverse circulation drill holes LM-15-16, LM-15-17 and LM-15-18 were drilled from the same setup to test for the presence of near surface non-sulphide zinc mineralization to the west of the historic Mountain View mine. All three holes intersected near surface significant zinc mineralization identifying the presence of zinc mineralization roughly 100 metres to the west of the main historic shaft and more than 200 metres from the area where Nevada Zinc has drilled to date. The intersections in these holes demonstrate that the mineralization is variable in grade and continuity.

 

Drilling Results

Significant assays from the drill program are presented in the following tables:

RC Hole ID LM-15-16  
From (m) To (m) Interval (m) Zn (%) Pb (%) Zn+Pb (%)
33.53 44.20 10.67 11.05 0.01 11.06

 

RC Hole ID LM-15-17  
From (m) To (m) Interval (m) Zn (%) Pb (%) Zn+Pb (%)
35.05 57.91 22.86 3.04 0.04 3.08
including
45.72 57.91 12.19 5.21 0.02 5.23

 

RC Hole ID LM-15-18  
From (m) To (m) Interval (m) Zn (%) Pb (%) Zn+Pb (%)
27.43 74.68 47.25 6.14 0.06 6.20
including
35.05 41.15 6.10 18.32 0.04 18.36

Based on the results of the entire phase 1 + phase 2 drill programs the Company is currently unable to determine the
 true width of the intersections reported in this and prior releases.

The Phase 2 drill program was mostly comprised of reverse circulation drilling targeted at extending the known dimensions of the mineralized zone tested in the Phase 1 drill program and drill testing the known and interpreted zinc-lead mineralization identified in the studies completed in the Phase 1 drill program. Work also commenced on a number of technical fronts that will include preliminary work on the characteristics of the mineralization. The Company has designed a program of broad spaced drill testing of a strong soil geochemical anomaly that appears to correlate with the interpreted location of the surface expression of the zinc-lead mineralized zones of interest. BLM authorization has been received and drilling operations are scheduled to commence by mid April. The surface trace of the strongest zinc in soil anomaly also correlates well with the on-strike location of the historic zinc mine on the Mountain View mine claim. A second well defined anomaly that is primarily lead with lesser anomalous zinc appears to roughly correlate with the location of the more easterly part of the drill holes completed to date. Each of these anomalies extends for 1400 metres northwest from the Mountain View mine claim. Additional geochemical data has been collected to the southeast of the Mountain View mine claims and is currently being evaluated.

 

About Lone Mountain

The Property is comprised of 217 claims covering approximately 4,000 acres and is held 100% by Nevada Zinc subject to certain terms as per the underlying agreements disclosed on SEDAR (press release June 24, 2014).

The Company maintains a QA/QC program on the analytical process. Additional assay results will be released when received and subsequent to passing QA/QC review.

 

Sample Preparation and Quality Control

Supervision and organization of reverse circulation drilling chip samples was undertaken by Nevada Zinc personnel.  Samples were collected at 5-ft intervals from a rotating wet splitter assembly attached to the drill rig. Chip tray samples were collected from the reject side of the wet splitter. The splitter was adjusted to produce 10-20 lbs of sample.  Samples were collected from the drill in cloth bags by employees of New Frontier Drilling under the supervision of Nevada Zinc personnel.  Samples were catalogued by Nevada Zinc geologists and stored in a secure location.  Certified reference standards were placed in the sample stream of each drill hole at random intervals.  Blank material was also inserted at random intervals.

 

Assay Techniques

Preparation of the samples was done at the ALS Chemex Elko, NV facility.  A 250 gram master pulp was taken, then splits were sent to ALS’s North Vancouver, BC facility or their Reno, NV facility.  A 48 element package using a 4 acid digestion with ICP-AES and ICP-MS completed on all samples. For lead and zinc values exceeding the limits of the 48 element package (1% zinc or lead), the procedure was to use a 4 acid digestion with ICP-AES or AAS finish (ore grade analysis).  In the case of values exceeding the limits of the ore grade analysis (30% zinc, 20% lead), the procedure was to use specialized titration methods. 

 

Laboratory QA/QC

Quality control samples from the lab include numerous control blanks, duplicates and standards. Reference standards used include OREAS-133b, OREAS-134b, OGGeo08, and CZN-4.  No issues were noted with analytical accuracy or precision. 

ALS Chemex’s Reno, Elko, and North Vancouver locations have ISO/IEC 17025:2005 accreditation.

Bruce Durham, P.Geo, is a qualified person as that term is defined by National Instrument 43-101 on behalf of the Company and has approved the scientific and technical content contained in this press release.

 

About Nevada Zinc

Nevada Zinc is a discovery driven, early-stage mineral exploration company with a proven management team focussed on identifying unique opportunities in mineral exploration that can provide significant value to its shareholders. The Company’s existing projects are located in Nevada and the Yukon.

 For further information contact:                     

Nevada Zinc Corporation 
Suite 1500 - 4 King St. W.
Toronto, Ontario M5H 1B6 
Tel: 416-504-8821

Bruce Durham

President and CEO
bdurham@nevadazinc.com 

www.nevadazinc.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.

This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc.  Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties.  Actual results may differ materially from those currently anticipated in such statements.

 


Nevada Zinc Begins Trading Under New Symbol NZN

Toronto, Ontario – March 6th, 2015 – Further to its news release dated February 27, 2015, Nevada Zinc Corporation (the “Corporation”) (TSX-V: NZN) announces the completion of a vertical amalgamation between Goldspike Exploration Inc. and its former wholly-owned subsidiary Nevada Zinc Corporation. The common shares of the Corporation are listed under the stock symbol “NZN” on the TSX Venture Exchange. The CUSIP number assigned to the common shares of Corporation is 64151W102. The corporate website for the Corporation is www.nevadazinc.com.

Our new brand better reflects the exciting potential of our flagship, 100% owned Lone Mountain zinc project in Nevada, which was recently ranked as one of the world’s top-ranked jurisdictions for mining, said Bruce Durham, President and CEO of the Corporation. Nevada Zinc is one of the very few junior companies that offers investors a pure-play exposure to rising zinc prices. Both the robust outlook for zinc and our early exploration results gives us confidence that Lone Mountain will be a focus discovery project in 2015.

About the Corporation

The Corporation is a junior mineral exploration company focused on defining a zinc resource at its 100% owned Lone Mountain project located near Eureka, Nevada. The Corporation’s Lone Mountain claims completely surround a past-producing zinc property. The Corporation also holds interests in mineral claims in Yukon.

For further information contact:

Bruce Durham, P. Geo
President and CEO
Nevada Zinc Corporation.

4 King Street West, Suite 1500

Toronto, Ontario

M5H 1B6

Office: 416-504-8821

bdurham@nevadazinc.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 of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

Forward-Looking Statements and Information: The forward-looking statements contained in this document are based on certain key expectations and assumptions made by the Corporation. Although the Corporation believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Corporation can give no assurance that they will  prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, the failure to obtain necessary regulatory approvals or satisfy the conditions to change the name of the Corporation, risks associated with the precious and base metals industry in general (e.g., operational risks in development, exploration and production; delays or changes in plans with respect to exploration or development projects or capital expenditures, the uncertainty of reserve estimates, the uncertainty of estimates and projections relating to production, costs and expenses, and health, safety and environmental risks), commodity price and exchange rate fluctuations and uncertainties resulting from potential delays or changes in plans with respect to exploration or development projects or capital expenditures. Certain of these risks are set out in more detail in the Corporation’s most recent Management Discussion and Analysis which have been filed on SEDAR and can be accessed at www.sedar.com. The forward-looking statements contained in this document are made as of the date hereof and the Corporation undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

Goldspike Expands Zinc-lead Discovery In Nevada: Results Include High Grade Mineralization Assaying 22.01% Zinc Over 18.3 Metres (60 Feet)

Goldspike Exploration Inc. (“Goldspike” or the “Company”) (TSX-V: GSE) announces that the latest drill hole assay results continue to expand the footprint of the Company’s significant high grade zinc-lead discovery on its 100% controlled Lone Mountain property (the “Property”) in Eureka County, Nevada.

The second hole in the Phase 2 drill program, LM-14-13 intersected high grade zinc-lead mineralization that averaged 22.94 % zinc+lead over a hole length of 18.28 metres (60 feet), including a very high grade interval assaying 32.59% zinc+lead over 7.62 metres (25 feet) (see details below and in the accompanying table).

The third hole in the Phase 2 drill program LM-14-14 intersected a number of areas of lead and zinc mineralization that combine to average 4.80% zinc+lead over 92.96 metres (305 feet). This overall interval includes 65.53 metres (215 feet) of mineralization with a combined zinc+lead grade of 6.37% including a 7.62 metre (25 foot) high grade zone grading 22.9% zinc +lead President and CEO, Bruce Durham commented on the latest results: “The latest drill results continue to show an expansion of the footprint of this exciting discovery. These holes expand the zone up and down dip as well as to the northwest. We continue to intersect some very high grade mineralization and we have also defined some really thick intervals of good grade zinc-lead mineralization. These results are a great start to our 2015 exploration programs”.

Highlights

  • Discovery section up-dip step-out drill hole LM-14-13 intersected 18.28 metres (60 feet) of high grade zinc mineralization grading 22.01% zinc within an overall zone grading 7.32% zinc and 0.64% lead (7.96% zinc+lead over a total of 59.43 metres (195 feet)).
  • Discovery section down-dip step-out drill hole LM-14-14 intersected 65.53 metres (215 feet) of zinc-lead mineralization grading 4.49% zinc and 1.88% lead (6.37% zinc+lead) within an overall zone grading 3.47% zinc and 1.33% lead (4.8% zinc+lead over a total of 92.96 metres (305 feet)).
  • Discovery section down-dip step-out drill hole LM-14-12 intersected 6.10 metres (20 feet) of high grade zinc mineralization grading 11.38% zinc within an overall zone grading of 5.21% zinc and 0.22% lead% (5.43% zinc+lead over a total of 25.91 metres (85 feet)).
  • Northwest strike extension step-out drill hole LM-14-15 intersected 6.10 metres grading 1.32% zinc and 2.92% lead (4.24% zinc+lead) including 3.05 metres grading 1.22% zinc and 5.34% lead (6.56% zinc+lead).
  • Including the results reported in this press release the Company has now reported assay results from four cross sections of drill holes where multiple holes have been completed. Drill holes on each of the four sections intersected significant intervals of zinc-lead mineralization.
  • The tops of most of the mineralized intervals are located at depths of approximately 100 metres and the mineralization remains largely untested near surface.
  • The assay results from the Phase 1 and early Phase 2 drill holes indicate the presence of generally wide intervals of significant zinc-lead mineralization up-dip and to the northwest and southeast of the discovery reported in the Company’s press release dated November 19, 2014.
  • A strong, coherent zinc in soil anomaly accompanies the up-dip projection of the mineralization for a minimum 1400 metre length parallel to stratigraphy. A second, sub-parallel lead and lesser zinc soil anomaly has been outlined in the vicinity of the upper or more easterly parts of some of the current drilling holes.
  • The zinc-lead mineralization remains open to expansion up and down dip as well as along strike in both directions.
  • Additional Phase 2 drill results are expected in the coming weeks.
  • Only a small part of the geochemical and geophysical targets on the Property have been evaluated to date.

Drilling Details

The Company previously reported results from three parallel sections of drill holes, the discovery section, the northwest section, and the southeast section where significant results were reported (as described in press releases dated November 19, 2014, December 11, 2014 and January 15, 2015). On most sections significant intervals of zinc-lead mineralization has been reported in multiple holes. The Company has now reported results from four parallel sections and continues to target the extension of the mineralization both along strike and up and down dip. Given the nominal section spacing of 30 metres and assuming the mineralization extends halfway to the next section (15 metres), the zone has effectively now been drill tested for a strike length of 150 metres and the mineralized zone remains open to expansion in both directions along strike. Mineralization has also been reported for a dip length of approximately 150 metres. While variable, the mineralization is up to 100 metres in thickness and averages approximately 40 metres.

 

Drill Plan Map

Drill hole LM-14-12 was completed on the discovery section and intersected the mineralization  approximately 30 metres down-dip from drill hole LM-14-09. The hole represents one of the deepest intersections of the mineralization to date. The zone remains untested down-dip of drill hole LM-14-12. Drill hole LM-14-13 was completed on the discovery section approximately 30 metres up-dip from drill hole LM-14-04. This area was first tested with drill hole LM-14-03, however that hole was terminated due to drilling difficulties before intersecting the mineralization. Drill hole LM-14-13 intersected lower grade mineralization in the upper part of the mineralized zone which was followed by an interval of very high grade zinc mineralization that assayed 22.01% zinc and 0.93% lead over 18.28 metres (60 feet). One interval of 3.05 metres (10 feet) assayed 43.25% zinc.

Drill hole LM-14-14 was collared at the same location as drill hole LM-14-01 and was designed to test for the presence of the down-dip extension of the mineralization in drill hole LM-14-01. The drill hole successfully established the presence of significant mineralization approximately 30 metres down-dip.  The entire interval from 120.40 metres to 213.36 metres averaged 3.47% zinc and 1.33% lead (4.8% zinc+lead over 92.96 metres (305 feet)). Higher grade intervals include 65.53 metres ((215 feet) averaging 6.37% zinc+lead).

Drill hole LM-14-15, drilled on a new section 60 metres to the northwest of the discovery section, intersected a narrower zone of mineralization that assayed 1.32% zinc and 2.92% lead (4.24% zinc+lead) over a hole length of 6.10 metres (20 feet). No other drilling has been completed close to this drill hole or farther to the northwest along strike. Additional work is required to locate the possible extension of the high grade and wider intervals of mineralization in this area. 

 

Discovery Section

RC Hole ID: LM-14-12

From (m) To (m) Interval (m) Zn (%) Pb (%) Zn+Pb (%)
138.68 164.59 25.91 5.21 0.22 5.43
including
149.35 155.45 6.10 11.38 0.25 11.63

 
RC Hole ID: LM-14-13

From (m) To (m) Interval (m) Zn (%) Pb (%) Zn+Pb (%)
109.73 169.16 59.43 7.32 0.64 7.96
including
143.26 161.54 18.28 22.01 0.93 22.94
including
143.26 150.88 7.62 30.47 2.12 32.59

 
RC Hole ID: LM-14-14

From (m) To (m) Interval (m) Zn (%) Pb (%) Zn+Pb (%)
120.40 213.36 92.96 3.47 1.33 4.80
including
120.40 185.93 65.53 4.49 1.88 6.37
including
120.40 128.02 7.62 8.07 14.83 22.90

 
RC Hole ID: LM-14-15

From (m) To (m) Interval (m) Zn (%) Pb (%) Zn+Pb (%)
92.96 99.06 6.10 1.32 2.92 4.24
including
92.96 96.01 3.05 1.22 5.34 6.56

Based on the results of the entire phase 1 drill program the Company is currently unable to determine the
 true width of the intersections reported in this and prior releases.

The Phase 2 drill program is mostly comprised of reverse circulation drilling that is targeted at extending the known dimensions of the mineralized zone tested in the Phase 1 drill program as well as the commencement of some drill testing of the known and interpreted zinc-lead mineralization identified in the studies completed in the Phase 1 drill program. Work will also begin on a number of technical fronts that will include some very preliminary work on the characteristics of the mineralization. In addition, the Company will begin the design of a program of broad spaced drill testing of the strong soil geochemical anomaly that appears to correlate with the interpreted location of the surface expression of the zinc-lead mineralized zones of interest. The surface trace of the strongest zinc in soil anomaly also correlates well with the on-strike location of the historic zinc mining on the Mountain View mine claim. A second well defined anomaly that is primarily lead with lesser anomalous zinc appears to roughly correlate with the location of the more easterly part of the drill holes completed to date. Each of these anomalies extends for 1400 metres northwest from the Mountain View mine claim. Additional geochemical data has been collected to the southeast of the Mountain View mine claim and is currently being evaluated.

About Lone Mountain

The property is comprised of 217 claims covering approximately 4,000 acres and is held 100% by Goldspike subject to certain terms as per the underlying agreements disclosed on SEDAR (press release June 24, 2014).

The Company maintains a QA/QC program on the analytical process. Additional assay results will be released when received and subsequent to passing QA/QC review.

Sample Preparation and Quality Control

Supervision and organization of reverse circulation drilling chip samples was undertaken by Goldspike personnel.  Samples were collected at 5 foot intervals from a rotating wet splitter assembly attached to the drill rig. Chip tray samples were collected from the reject side of the wet splitter. The splitter was adjusted to produce 10-20 lbs of sample.  Samples were collected from the drill in cloth bags by employees of New Frontier Drilling LLC under the supervision of Goldspike personnel.  Samples were catalogued by the Company’s geologists and stored in a secure location.  Certified reference standards were placed in the sample stream of each drill hole at random intervals.  Blank material was also inserted at random intervals.

Assay Techniques

Preparation of the samples was done at the ALS Chemex Elko, NV facility.  A 250 gram master pulp was taken, then splits were sent to ALS’s North Vancouver, BC facility or their Reno, NV facility.  A 48 element package using a 4 acid digestion with ICP-AES and ICP-MS completed on all samples. For lead and zinc values exceeding the limits of the 48 element package (1% zinc or lead), the procedure was to use a 4 acid digestion with ICP-AES or AAS finish (ore grade analysis).  In the case of values exceeding the limits of the ore grade analysis (30% zinc, 20% lead), the procedure was to use specialized titration methods. 

Laboratory QA/QC

Quality control samples from the lab include numerous control blanks, duplicates and standards. Reference standards used include OREAS-133b, OREAS-134b, OGGeo08, and CZN-4.  No issues were noted with analytical accuracy or precision. 

ALS Chemex’s Reno, Elko, and North Vancouver locations have ISO/IEC 17025:2005 accreditation.

Bruce Durham, P.Geo, is a qualified person as that term is defined by National Instrument 43-101 on behalf of the Company and has approved the scientific and technical content contained in this press release.

Goldspike is a discovery driven, early-stage mineral exploration company with a proven management team focussed on identifying unique opportunities in mineral exploration that can provide significant value to its shareholders. The Company’s existing projects are located in Nevada and Yukon.

For further information contact:                     

Goldspike Exploration Inc. 
Suite 1500 - 4 King St. W.
Toronto, Ontario M5H 1B6 
Tel: 416-504-8821

Bruce Durham,

President and CEO
bdurham@goldspike.ca 

www.goldspike.ca

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.

This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc.  Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties.  Actual results may differ materially from those currently anticipated in such statements.

Goldspike Announces Warrant Exercise

Toronto, Ontario - Goldspike Exploration Inc. (TSXV: GSE) ("Goldspike" or the "Company") is pleased to announce that 100% of the Company's 5,000,000 common share purchase warrants with a strike of $0.20 have been exercised for proceeds to the Company of $1,000,000. The warrants were issued by Goldspike on October 6, 2010. In addition, the Company also received proceeds of $121,274.65 from the exercise of 346,499 warrants with a strike price of $0.35. The warrants were issued on August 3, 2011 in conjunction with the Goldspike's initial public offering. All the warrants had and an expiry date of February 3, 2015. The Company currently has no further warrants outstanding.

"The exercise of both classes of warrants and recent insider buying demonstrates strong confidence in the Company and the success of our exploration programs to date. We are committed to making the Company's 100% owned Lone Mountain project in Nevada a focus zinc discovery story in 2015." stated Bruce Durham, President and CEO of Goldspike.

For further information contact:

Goldspike Exploration Inc.

4 King Street West, Suite 1500

Toronto, Ontario, M5H 1B6

Tel: (416) 504-8821

Bruce Durham, President and CEO

bdurham@goldspike.ca

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. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

Goldspike Expands Zinc-lead Discovery In Nevada: Intersects Extensive Zinc-lead Mineralization Over 118.87 Metres (390 Ft.)

Goldspike Exploration Inc. (“Goldspike” or the “Company”) (TSX-V: GSE) is pleased to announce that the latest drill hole assay results continue to expand the footprint of the Company’s significant high grade zinc-lead discovery on its 100% controlled Lone Mountain property (the “Property”) in Eureka County, Nevada.

The latest highlight hole from the Phase 1 drill program, LM-14-09, intersected several zones of zinc and lead mineralization that combine to give an overall average of 6.04 % zinc+lead over a hole length of 118.87 metres (390 feet), including high grade intervals assaying 8.05% zinc+lead over 42.68 metres (140 feet) and 12.87% zinc+lead over 24.34 metres (80 feet) (see details below and in the accompanying table).

President and CEO, Bruce Durham commented on the latest results: “The latest drill results continue to expand the footprint of this exciting discovery and they show that the mineralization extends along strike to the southeast.  We have only started to explore the targets and given the thickness of these intersections and some of the grades we are confident Lone Mountain is going to emerge as a focus discovery story for 2015.”

Highlights

  • Two drill holes completed on a new section to the southeast of the discovery section (where the initial discovery holes were drilled) intersected significant intervals of zinc-lead mineralization. The zones, when combined, give a very wide interval in drill hole LM-14-09 that assayed 6.04% zinc+lead (4.71% Zn, 1.33% Pb) over 118.87 metres (390 feet), including a high grade interval assaying 12.87% zinc+lead (12.81% Zn, 0.06% Pb) over 24.38 metres (80 feet), the details of which are shown in the accompanying table.
  • LM-14-10 intersected an interval up-dip from the LM-10-09 intersection that assayed 6.82% zinc+lead (6.41% Zn, 0.41% Pb) over an interval of 18.29 metres (60 feet), including an upper high grade zone that assayed 12.82% zinc+lead (12.10% Zn, 0.72% Pb) over 9.14 metres (30 feet), the details of which are shown in the accompanying table.
  • Including the results reported in this press release the Company has now reported results from the three cross sections of drill holes where multiple holes have been completed. Holes on each of the three sections intersected significant intervals of zinc-lead mineralization.
  • The top of most of the mineralized intervals are located at depths of approximately 100 metres and the mineralization remains largely untested near surface.
  • The results from the Phase 1 drill holes indicate the presence of generally wide intervals of significant zinc-lead mineralization up-dip and to the northwest and southeast of the discovery reported in the Company’s press release dated November 19, 2014.
  • The Company has applied for, and received authorization for additional drill holes from the US Bureau of Land Management (Battle Mountain Nevada office).
  • The Company commenced a Phase 2 drill program in mid-December and expects to complete significant drilling on the Property in the current quarter.
  • A well-defined zinc in soil anomaly accompanies the up-dip projection of the mineralization for a minimum 1400 metre length parallel to stratigraphy. A second, sub-parallel lead and lesser zinc soil anomaly has been outlined in the vicinity of the current drilling results. The Company is considering the implication of this second anomaly as it relates to the mineralization discovered to date.
  • The mineralization remains open to expansion particularly down-dip and along strike. The mineralization remains open up-dip in places as well.
  • In addition to having received all assay data from Phase 1, the Company has now received and included assay results from the lower part of the mineralized interval in drill hole LM-14-09 from additional drilling completed as part of the Phase 2 program. This hole was deepened because the hole stopped in mineralization. Additional Phase 2 results are expected in the coming weeks.
  • Only a small part of the geochemical targets outlined on the Property has been evaluated to date.

Drilling Details
The Company previously reported results from two parallel sections of drill holes, the discovery section and the northwest section where significant results were reported (as described in press releases dated November 19, 2014 and December 11, 2014). On each section significant intervals of zinc-lead mineralization were reported in multiple holes. Still outstanding as of the December 11, 2014 release were the results from the remaining section to the southeast.

Phase 1 – Drill Plan

Southeast Section

Drill holes LM-14-09, LM-14-10, and LM-14-11 were completed on a section approximately 30 metres to the southeast and parallel to the discovery section. Hole LM-14-09, intersected a broad zone of mineralization that assayed 6.04% zinc+lead over 118.87 metres (390 feet) within which an interval of high grade was intersected in the upper portion that assayed 8.05% zinc+lead over 42.6 metres (140 feet) and a high-grade lower interval assayed 12.87% zinc+lead over 24.38 metres (80 feet). This interval includes the first assay results from the Phase 2 program. This hole was deepened at the beginning of the Phase 2 program as the hole had previously stopped in mineralization due to a shortage of materials. The centre hole on the southeast section, hole NM-14-10 (from the same setup as LM-14-09), intersected a zone of mineralization that assayed 6.82% zinc+lead over an interval of 18.29 metre (60 foot)section of the hole, including a high grade zone of mineralization that assayed 12.82% zinc+lead over 9.14 metres (30 feet). The hole located most up-dip on that section, hole NM-14-11, did not intersect any significant mineralization. 

Zinc Highlight Hole:  LM-14-09 

The upper part of the mineralization in several of the Phase 1 program holes is more lead-rich and the now complete soil geochemical sampling completed in the Phase 1 program clearly outlines two sub-parallel geochemical anomalies, the more north-easterly of which is more lead rich while the more southwesterly is clearly more zinc rich and appears to correlate with the stratigraphic location of the historic mining at the adjacent Mountain View mine. The Company is considering the possibility that its drilling to date has in fact been related to the more north-easterly, lead enriched geochemical anomaly that extends to the northwest for a total of some 1400 metres which may represent a separate area of mineralization from the more zinc-rich anomaly that correlates with the extension of the trend of the previously mined area.

 Significant assays from the drill program are presented in the following tables:

RC Hole ID: LM-14-09

From (m) To (m) Interval (m) Zn (%) Pb (%) Zn+Pb (%)
114.30 233.17 118.87 4.71 1.33 6.04
including
115.82 158.50 42.68 4.75 3.30 8.05
167.64 170.69 3.05 5.64 1.32 6.96
208.79 233.17 24.38 12.81 0.06 12.87

 

From (ft) To (ft) Interval (ft) Zn (%) Pb (%) Zn+Pb (%)
375.00 765.00 390.00 4.71 1.33 6.04
including
380.00 520.00 140.00 4.75 3.30 8.05
550.00 560.00 10.00 5.64 1.32 6.96
685.00 765.00 80.00 12.81 0.06 12.87


RC Hole ID: LM-14-10

From (m) To (m) Interval (m) Zn (%) Pb (%) Zn+Pb (%)
178.31 196.60 18.29 6.41 0.41 6.82
including
178.31 187.45 9.14 12.10 0.72 12.82

 

From (ft) To (ft) Interval (ft) Zn (%) Pb (%) Zn+Pb (%)
585.00 645.00 60.00 6.41 0.41 6.82
including
585.00 615.00 30.00 12.10 0.72 12.82

Based on the results of the entire phase 1 drill program the Company is currently unable to determine the
 true width of the intersections reported in this and prior releases.

In addition to reverse circulation drilling, the Phase 1 exploration program included the collection and analysis of surface soil samples designed to delineate the extent of anomalous zinc and various other indicator elements that correlate well with the interpreted location of the surface expression of the zinc-lead mineralized zones of interest. The surface trace of the strongest zinc in soil anomaly correlates well with the on-strike location of the historic zinc mining on the Mountain View mine claim. A second well defined anomaly that is primarily lead with lesser anomalous zinc appears to roughly correlate with the location of the drill holes completed to date. Each of these anomalies extends for 1400 metres northwest from the Mountain View mine claim. Additional geochemical data has been collected to the southeast of the Mountain View mine claims and is currently being evaluated.

 

About Lone Mountain

The Property is comprised of 217 claims covering approximately 4,000 acres and is held 100% by Goldspike subject to certain terms as per the underlying agreements disclosed on SEDAR (press release June 24, 2014).

The Company maintains a QA/QC program on the analytical process. Additional assay results will be released when received and subsequent to passing QA/QC review.

 

Sample Preparation and Quality Control

Supervision and organization of reverse circulation drilling chip samples was undertaken by Goldspike Exploration Inc. personnel.  Samples were collected at 5-ft intervals from a rotating wet splitter assembly attached to the drill rig. Chip tray samples were collected from the reject side of the wet splitter. The splitter was adjusted to produce 10-20 lbs of sample.  Samples were collected from the drill in cloth bags by employees of New Frontier Drilling under the supervision of Goldspike personnel.  Samples were catalogued by Goldspike geologists and stored in a secure location.  Certified reference standards were placed in the sample stream of each drill hole at random intervals.  Blank material was also inserted at random intervals.

 

Assay Techniques

Preparation of the samples was done at the ALS Chemex Elko, NV facility.  A 250 gram master pulp was taken, then splits were sent to ALS’s North Vancouver, BC facility or their Reno, NV facility.  A 48 element package using a 4 acid digestion with ICP-AES and ICP-MS completed on all samples. For lead and zinc values exceeding the limits of the 48 element package (1% zinc or lead), the procedure was to use a 4 acid digestion with ICP-AES or AAS finish (ore grade analysis).  In the case of values exceeding the limits of the ore grade analysis (30% zinc, 20% lead), the procedure was to use specialized titration methods. 

 

Laboratory QA/QC

Quality control samples from the lab include numerous control blanks, duplicates and standards. Reference standards used include OREAS-133b, OREAS-134b, OGGeo08, and CZN-4.  No issues were noted with analytical accuracy or precision. 

ALS Chemex’s Reno, Elko, and North Vancouver locations have ISO/IEC 17025:2005 accreditation.

Bruce Durham, P.Geo, is a qualified person as that term is defined by National Instrument 43-101 on behalf of the Company and has approved the scientific and technical content contained in this press release.

Goldspike is a discovery driven, early-stage mineral exploration company with a proven management team focussed on identifying unique opportunities in mineral exploration that can provide significant value to its shareholders. The Company’s existing projects are located in Nevada and Yukon.

For further information contact:                     

Goldspike Exploration Inc. 
Suite 1500 - 4 King St. W.
Toronto, Ontario M5H 1B6 
Tel: 416-504-8821

Bruce Durham,

President and CEO
bdurham@goldspike.ca 

www.goldspike.ca

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.

This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc.  Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties.  Actual results may differ materially from those currently anticipated in such statements.


Goldspike Intersects 33.1% Zinc Over 15.24 Metres (50 FT.) Expanding High-Grade Zinc Discovery In Nevada (True width 11.43 m , 37.5 ft.)

Goldspike Exploration Inc. (“Goldspike” or the “Company”) (TSX-V: GSE) is pleased to announce that the latest assay results from its Phase 1 drill program continue to confirm the Company has discovered a significant new area of high grade zinc-lead mineralization on the Company’s 100% controlled Lone Mountain property (the “Property”) in Eureka County, Nevada. The Company has now completed its Phase 1 drill program for a total of 2126 metres, well beyond its initial plan of 1500 metres.  Phase 2 drilling is scheduled to commence immediately.

President and CEO, Bruce Durham commented on the latest results: “We are extremely pleased that we are starting to put real dimensions on this exciting discovery. These latest holes show that the zone extends up-dip and along strike to the northwest. The thickness of mineralization and some of the grades are again very impressive and we think they are pointing to the presence of a large mineralized system”.

Highlights

  • The up-dip extension to the very high grade mineralization discovered in the lower part of drill holes LM-14-01 and LM-14-02 was intersected approximately 30 metres up-dip in hole LM-14-04 where a sub-interval of the overall intersection assayed 33.67% zinc+lead over 15.24 metres (50 feet). (33.06% Zn , 0.61% Pb). The overall interval in this drill hole assayed 11.87% zinc+lead over 45.11 metres (148 feet).(11.62% Zn, 0.25% Pb)
  • Drill holes completed on a section to the northwest of the initial drill section where the above hole was completed also intersected significant intervals of zinc-lead mineralization including a wide high grade interval in drill hole LM-14-06 that assayed 6.98% zinc+lead over 64.01 metres (210 feet),(5.87% Zn, 1.11% Pb)including a very high grade interval grading 23.58% zinc+lead over 16.76 metres (55 feet). (19.82% Zn, 3.76% Pb)
  • Including the results reported in this press release the Company has now reported results from two of the three cross sections of drill holes completed to date on the Property.
  • The results from the drill holes reported to date indicate the presence of generally wide intervals of significant zinc-lead mineralization up-dip and to the northwest of the discovery reported in the Company’s press release dated November 19, 2014.
  • The remaining mineralized drill holes from the Phase 1 drill program are from the extension of the mineralized zone to the southeast toward the area of the historic Mountain View zinc mine where some 5,000,000 pounds of high grade zinc were mined..
  • The Company has signed a Phase 2 drill contract with New Frontier Drilling, the Phase 1 drill contractor, for an additional 1500 metres of RC drilling that is expected to be complete in early January.  Drilling will commence immediately.
  • A well-defined, strong zinc in soil anomaly accompanies the up-dip projection of the mineralization for a minimum 1400 metre length parallel to stratigraphy.
  • The mineralization remains open to expansion particularly down-dip and along strike.
  • Assay data from additional Phase 1 holes along strike to the southeast is expected in the coming weeks.

 

Drilling Details



Discovery Section
Drill holes LM-14-03 and LM-14-04 were collared at the same location and were drilled on the same drill section as drill holes LM-14-01 and LM-14-02. Hole LM-14-03, a -45 degree hole was abandoned prior to reaching its target depth due to technical issues, however, the Company plans to complete additional drilling in this area in the Phase 2 drill program. Drill hole LM-14-04 intersected zinc-lead mineralization over a significant sample interval with an overall intersection of 11.87% zinc-lead mineralization over 45.11 metres including a very high grade interval of 33.67% zinc-lead over 15.24 metres. This hole was stopped in zinc-lead mineralization at 167.03 metres due to drilling difficulties.

Zinc Discovery in Drill Hole:  LM-14-04 
(Drill Holes LM-14-01 and LM-14-02 Previously Announced)

Northwest Section
Drill holes LM-14-05, LM-14-06, and LM-14-07 were completed on a section approximately 30 metres to the northwest and parallel to the discovery section. Hole LM-14-05 intersected a broad zone of mineralization that assayed 2.87% zinc+lead over 70.1 metres within which an interval of high grade was intersected in the upper portion that assayed 6.17% zinc+lead over 22.86 metres, this time dominated by high lead values as shown in the accompanying table. The centre hole on the northwest section, hole NM-14-06, intersected a broad zone of mineralization that assayed 6.98% zinc+lead over a 64.01 metre section of the hole, including a high grade zone of mineralization that assayed 23.58% zinc+lead over 16.76 metres. The hole located most up-dip on that section, hole NM-14-07 intersected a narrow upper interval assaying 3.7% zinc+lead over 1.52 metres and a lower zone averaging 3.1% zinc+lead over 9.14 metres. 

Zinc Discovery in Drill Holes:  LM-14-05, LM-14-06, and LM-14-07

decsect2.png

Southeast Section
Assay results are not currently available for the final three Phase 1 holes drilled on this section.  These assay results are expected in the coming weeks. It is known that two of the three holes intersected zinc-lead mineralization over significant widths. It is noteworthy that on each of the three sections drilled to date, the deeper holes appear to have the widest and in some cases the highest grade zinc-lead mineralization.

Phase 1 Drill Plan – Additional Assays Pending*

Significant assays from the drill program are presented in the following tables:

RC Hole ID: LM-14-04*

From (m) To (m) Interval (m) Zn (%) Pb (%) Zn+Pb (%)
121.92 167.03 45.11 11.62 0.25 11.87
including
147.83 163.07 15.24 33.06 0.61 33.67

RC Hole ID: LM-14-05*

From (m) To (m) Interval (m) Zn (%) Pb (%) Zn+Pb (%)
112.78 182.88 70.10 1.05 1.82 2.87
including
112.78 135.64 22.86 0.83 5.34 6.17
           

RC Hole ID: LM-14-06*

From (m) To (m) Interval (m) Zn (%) Pb (%) Zn+Pb (%)
102.11 166.12 64.01 5.87 1.11 6.98
including
105.16 121.92 16.76 19.82 3.76 23.58

RC Hole ID: LM-14-07*

From (m) To (m) Interval (m) Zn (%) Pb (%) Zn+Pb (%)
94.49 96.01 1.52 3.68 0.02 3.70
including
147.83 156.97 9.14 2.99 0.11 3.10

* True widths of all drill results are estimated to be approximately 75% of the intersected length.

In addition to reverse circulation drilling, the current exploration program includes the collection and analysis of surface soil samples designed to delineate the extent of anomalous zinc and various other indicator elements that correlate well with the interpreted location of the surface expression of the zinc- lead mineralized zones of interest. This surface trace of the anomalous zone outlined to-date also correlates well with the up-dip projection of the mineralization in drill holes LM-14-01 through LM-14-07. The well-defined, multi-element anomaly coincides with the on strike location of the near surface zinc-lead mining completed at the historic Mountain View mine. The Mountain View mine property is comprised of a single 20 acre claim and is completely surrounded by Goldspike.

About Lone Mountain
The Property is comprised of 217 claims covering approximately 4000 acres and is held 100% by Goldspike subject to certain terms as per the underlying agreements disclosed on SEDAR.

The Company maintains a QA/QC program on the analytical process. Additional assay results will be released when received and subsequent to passing QA/QC review.

Sample Preparation and Quality Control
Supervision and organization of reverse circulation drilling chip samples was undertaken by Goldspike Exploration Inc. personnel.  Samples were collected at 5-ft intervals from a rotating wet splitter assembly attached to the drill rig. Chip tray samples were collected from the reject side of the wet splitter. The splitter was adjusted to produce 10-20 lbs of sample.  Samples were collected from the drill in cloth bags by employees of New Frontier Drilling under the supervision of Goldspike personnel.  Samples were catalogued by Goldspike geologists and stored in a secure location.  Certified reference standards were placed in the sample stream of each drill hole at random intervals.  Blank material was also inserted at random intervals.
 
Assay Techniques
Preparation of the samples was done at the ALS Chemex Elko, NV facility.  A 250 gram master pulp was taken, then splits were sent to ALS’s North Vancouver, BC facility or their Reno, NV facility.  A 48 element package using a 4 acid digestion with ICP-AES and ICP-MS completed on all samples. For lead and zinc values exceeding the limits of the 48 element package (1% zinc or lead), the procedure was to use a 4 acid digestion with ICP-AES or AAS finish (ore grade analysis).  In the case of values exceeding the limits of the ore grade analysis (30% zinc, 20% lead), the procedure was to use specialized titration methods. 
 
Laboratory QA/QC
Quality control samples from the lab include numerous control blanks, duplicates and standards. Reference standards used include OREAS-133b, OREAS-134b, OGGeo08, and CZN-4.  No issues were noted with analytical accuracy or precision. 
ALS Chemex’s Reno, Elko, and North Vancouver locations have ISO/IEC 17025:2005 accreditation.
   
Bruce Durham, P.Geo, is a qualified person as that term is defined by National Instrument 43-101 on behalf of the Company and is the person responsible for the technical information contained in this press release.

Goldspike is a discovery driven, early-stage mineral exploration company with a proven management team focussed on identifying unique opportunities in mineral exploration that can provide significant value to its shareholders. The Company’s existing projects are located in Nevada and Yukon.

For further information contact:                              
Goldspike Exploration Inc. 
Suite 1500 - 4 King St. W.
Toronto, Ontario M5H 1B6 
Tel: 416-504-8821
Bruce Durham,
President and CEO
bdurham@goldspike.ca 
www.goldspike.ca

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.

This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc.  Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties.  Actual results may differ materially from those currently anticipated in such statements.

Goldspike Reports New High-Grade Zinc Discovery in Nevada

Goldspike Exploration Inc. (“Goldspike” or the “Company”) (TSX-V: GSE) is pleased to announce that initial assay results confirm the Company has discovered a new area of high-grade zinc-lead mineralization on the Company’s 100% owned Lone Mountain property (the “Property”) in Eureka County ,Nevada.

The Company has received assay results from the first two drill holes of its recently completed phase one drill program. Both holes indicate the presence of wide intervals of significant zinc and lead mineralization.

Drill holes LM-14-01 and LM-14-02 each intersected zinc and lead mineralization over significant sample lengths with drill hole LM-14-01 intersecting zinc and lead mineralization averaging 6.22% zinc and 1.34% lead with an aggregate average of 7.56% zinc + lead over 89.9 metres while hole LM -14-02 intersected zinc and lead mineralization averaging 2.76% zinc and 0.29% lead with an aggregate average of 3.05% zinc + lead over 77.7 metres. Each of the holes intersected significant high-grade mineralization within these intervals as indicated in the summary table below.

President and CEO, Bruce Durham commented on the new discovery: “We are extremely pleased to have discovered a new high-grade zinc zone with Goldspike’s first two drill holes.  The thickness of mineralization and some of the grades are extremely impressive and significantly elevate the potential of this project. Given that the world average zinc mine is about 5.5% and is continuing to decline, we have confidence that we are focussing on the right commodity in one of the best mining jurisdictions in the world at a time when the fundamentals clearly show there will be a shortage of zinc going forward.”

A well-defined, strong zinc in soil anomaly accompanies the up-dip projection of the mineralization discovered for a minimum 1400 metre length parallel to stratigraphy. Additional soil geochemical data remains outstanding at this time.
Additional assays from holes drilled along strike and up-dip from this strong mineralization will be released by the Company as they become available.

Highlights

  • The overall interval in hole LM-14-01 from 114.3 to 204.2 metres returned a length weighted average of 7.56 % zinc + lead over 89.9 metres with zinc accounting for 6.22% and lead accounting for  1.34%.
  • The lower interval of high grade mineralization is located beyond any historic work in the area and constitutes a new discovery of high grade zinc + lead mineralization with an average grade of 27.33% zinc + lead over 10.67 metres with zinc accounting for 27.22%.
  • The interval from 114.3 to 158.5 metres approximates the location of the zinc + lead intervals in historic drill hole LM-07-01 that was drilled in the same area in 2007 by a previous operator (who eventually lost title to the Property before carrying out any additional drilling).
  • The overall interval in hole LM-14-02 from 108.2 to 185.9 metres returned a length weighted average of 3.05% zinc + lead over 77.7 metres with zinc accounting for 2.76% and lead accounting for  0.29%.
  • The newly discovered lower zinc-lead zone in hole LM-14-01 was also intersected in hole LM-14-02, starting at 166.1 metres where it contained 9.12%zinc + lead over 19.8 metres with zinc accounting for 9.08% and lead accounting for  0.04%.
  • The two holes were drilled from the same setup with hole LM-14-01 drilled at -70 degrees and hole LM-14-02 drilled at -60 degrees thereby putting the intersections approximately 30 metres apart at the depth of the new discovery.
  • All mineralization remains open to expansion in all directions at this time. Assay data from additional holes along strike and up-dip are expected in the coming weeks.

As previously announced this phase one drill program has been expanded beyond the initial plan of 1500 metres. Drilling has been completed in three directions from the Company’s discovery intersections; up-dip and along strike of the Company’s new discovery in both directions. No drilling was completed down-dip of the wide area of mineralization intersected in hole LM-14-01 and the zone remains open down-dip to further expansion.  Significant assays from the drill program are presented in the following tables:

RC Hole ID: LM-14-01*

From (m) To (m) Interval (m) Zn (%) Pb (%) Zn+Pb (%)
114.30 204.22 89.92 6.22 1.34 7.56
including
114.30 118.87 4.57 2.39 22.82 25.21
144.78 158.50 13.72 10.56 0.64 11.20
193.55 204.22 10.67 27.22 0.10 27.32


RC Hole ID: LM-14-02*

From (m) To (m) Interval (m) Zn (%) Pb (%) Zn+Pb (%)
108.20 185.93 77.73 2.76 0.29 3.05
including
108.20 112.78 4.58 4.35 2.17 6.52
166.12 185.93 19.81 9.08 0.04 9.12


Phase 1 Drill Plan – Additional Assays Pending

 

Zinc Discovery in Drill Holes: LM-14-01 and LM-14-02

In addition to reverse circulation drilling, the current exploration program includes the collection and analysis of surface soil samples designed to delineate the extent of anomalous zinc and various other indicator elements that correlate well with the interpreted location of the surface expression of the zinc- lead mineralized zones of interest. This surface trace of the anomalous zone outlined to-date also correlates well with the up-dip projection of the mineralization in drill holes LM-14-01 and LM-14-02. The well-defined, multi-element anomaly also coincides with the location of the near surface zinc mining completed at the historic Mountain View zinc mine. The Mountain View zinc mine property is comprised of a single 20 acre claim surrounded by Goldspike.

All zinc-lead mineralization intersected to-date is non-sulphide (smithsonite, zincite, and hydrozincite)  in nature to the depths drilled and is currently known to extend to depths of 200 metres vertically. While non-sulphide zinc deposits were historically the primary source of zinc metal for the world, the last several decades have been dominated by sulphide (sphalerite) zinc deposit mining. Recent advances in hydro-metallurgy and leach technology along with a general lack of new sulphide zinc deposits is bringing non-sulphide zinc deposits back into focus as sought after exploration targets.

Examples of non-sulphide zinc deposits include the Skorpion zinc deposit in Namibia currently being mined by Vedanta and the Vazante zinc deposit in Brazil being mined by Votarantim.

About Lone Mountain
The Property is comprised of 217 claims and is held 100% by Goldspike subject to certain terms as per the underlying agreements disclosed on SEDAR.

The Company maintains a QA/QC program on the analytical process and additional assay results will be released when received and subsequent to passing QA/QC review.

Sample Preparation and Quality Control
Supervision and organization of reverse circulation drilling chip samples was undertaken by Goldspike Exploration personnel.  Samples were collected at 5-ft intervals from a rotating wet splitter assembly attached to the drill rig. Chip tray samples were collected from the reject side of the wet splitter. The splitter was adjusted to produce 10-20 lbs of sample.  Samples were collected from the drill in cloth bags by employees of New Frontier Drilling under the supervision of Goldspike personnel.   Samples were stored in a secure location and catalogued by Goldspike geologists.  Two certified reference standards were used for each drill hole at random intervals.  Blank material was also inserted at random intervals.
 
Assay Techniques
Preparation of the samples was done at the ALS Chemex Elko, NV facility.  A 250 g master pulp is taken, then splits are sent to ALS’s North Vancouver, BC facility or their Reno, NV facility.  A 48 element package using a 4 acid digestion with ICP-AES and ICP-MS was done on all samples. For lead and zinc values exceeding the limits of the 48 element package (1% Zn or Pb), the procedure was to use a 4 acid digestion with ICP-AES or AAS finish (ore grade analysis).  In the case of values exceeding the limits of the ore grade analysis (30% Zn, 20% Pb), the procedure was to use specialized titration methods. 
 
Laboratory QA/QC
Quality control samples from the lab include numerous control blanks, duplicates and standards. Reference standards used include OREAS-133b, OREAS-134b, OGGeo08, and CZN-4.  No problems were noted with analytical accuracy or precision. 
ALS Chemex’s Reno, Elko, and North Vancouver locations have ISO/IEC 17025:2005 accreditation.   

Bruce Durham, P.Geo, is a qualified person as that term is defined by National Instrument 43-101 on behalf of the Company and is the person responsible for the technical information contained in this news release.

Goldspike is a discovery driven, early-stage mineral exploration company with a proven management team focussed on identifying unique opportunities in mineral exploration that can provide significant value to its shareholders. The Company’s existing projects are located in Nevada and Yukon.
 
For further information contact:                              
Goldspike Exploration Inc. 
Suite 1500 - 4 King St. W.
Toronto, Ontario M5H 1B6 
Tel: 416-504-8821
Bruce Durham, President and CEO
bdurham@goldspike.ca 
www.goldspike.ca

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.

This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc.  Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties.  Actual results may differ materially from those currently anticipated in such statements.

 

Goldspike Confirms Zinc Lead Mineralization in Initial Drilling at Lone Mountain

Goldspike Exploration Inc. (“Goldspike” or the “Company”) (TSX-V: GSE) is pleased to announce that it has successfully intersected zones of zinc and lead mineralization in the first drill holes of the Company’s phase one drill program on its 100% controlled Lone Mountain zinc property (the “Property”) in Eureka County, Nevada.

Drilling is continuing and the program has been expanded beyond the initial plan of 1500 metres. Drilling to-date has been completed to a greater depth, up dip and along strike of the original 2007 discovery hole. Zinc and lead mineralization has been intersected in each direction from the discovery hole in the directions drilled.

Samples from the first holes have been submitted for analysis and the first assay results are expected to be received in about three weeks. The Company maintains a QA/QC program on the analytical process and sample results will be released when received, subsequent to passing the QA/QC review.

The Company’s current exploration program on the Property also includes ongoing surface geochemical studies designed to delineate the extent of anomalous zinc and indicator elements that correlate to the location of the surface expression of the mineralized zone of interest. This surface trace correlates with the interpreted up dip projection of the 2007 discovery drill hole mineralization and also the location of the near surface zinc mining completed historically at the Mountain View mine. Soil geochemical data received to-date shows a very well defined, consistent high zinc anomaly, as well as pathfinder element highs, that both extend for more than 1400 metres from the northwest boundary of the historic zinc mine through the interpreted location of the surface extension of the zone being drilled.   The high zinc anomaly and pathfinder elements anomaly remain open to further expansion. All zinc lead mineralization intersected to-date is non-sulphide in nature to the depths drilled and is now known to extend to depths of up to 200 metres.

Bruce Durham, President of the Company commented: “We are very encouraged by the recent geochemical data we have been receiving and the fact we are intersecting significant mineralization in our first drilling program. We look forward to having assays in November from the first of the holes in this program and certainly expect to be completing a significant amount of drilling to extend the mineralization in the discovery area as well as a significant amount of further drilling to test the strong geochem target we are defining.”
 
About Lone Mountain
The Property is comprised of 217 claims and covers the location of a 2007 significant drill hole zinc discovery where a single drill hole intersected several intervals of high grade zinc lead mineralization including an interval at the bottom of the hole assaying 41.3% zinc and 1.4% lead over 4.1 metres.

Goldspike negotiated the assignment of up to a 100% interest in the Property in July of this year (see the Company’s press release dated July 23, 2014) and began its phase one drill program in October. (see the Company’s press release dated October 20, 2014)

Bruce Durham, P.Geo, is a qualified person as that term is defined by National Instrument 43-101 on behalf of the Company and is the person responsible for the preparation of this news release.

For further information contact:                              
Goldspike Exploration Inc. 
Suite 1500 - 4 King St. W.
Toronto, Ontario M5H 1B6 
Tel: 416-504-8821
Bruce Durham, President and CEO
bdurham@goldspike.ca 
www.goldspike.ca

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.
This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc.  Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties.  Actual results may differ materially from those currently anticipated in such statements.