2014

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.

Goldspike Commences Drilling Program at Lone Mountain Zinc Project

Goldspike Exploration Inc. (TSXV: GSE) (“Goldspike” or the “Company”) is pleased to report that it has commenced drilling operations on its Lone Mountain zinc property (the “Property”) in Eureka County,
Nevada.

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).

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.

Based upon the historical information pertaining to the Property and the favourable results of its initial field work, the Company is carrying out additional geochemical surveys,
prospecting and geological mapping and has commenced a phase one drilling program on the Property. In this initial drill program the Company expects to drill approximately 10 holes totalling 1,500 metres (approximately 5,000 feet).

“Since acquiring the Lone Mountain zinc property we have been analyzing and collecting both historic data and new data from recent exploration programs. We are very encouraged by the results to-date. We now have enough information to start
drill testing the area in close proximity to the 2007 mineralization with a goal of expanding the footprint of the mineralization. Our geological evaluation of the Property is also identifying other areas of potential mineralization on the Property.
We are very pleased to have our first drill program at Lone Mountain underway,” commented Goldspike CEO Bruce Durham.

With regard to zinc Mr. Durham further commented: “We share the opinion of many researchers that zinc fundamentals are strong and strengthening and that real shortfalls in production due to significant mine closures will be seen in the
years ahead. Zinc is an advanced infrastructure metal whose consumption and usage are continuing to expand annually.”

Property Highlights: (see the Company’s press release dated June 24, 2014 for full details and maps)

  • High grade zinc and lead mineralized intervals were discovered in reverse circulation drill hole LM-07-01. The mineralization is reported to commence at 114.3 metres down hole and to continue to the bottom of the hole at 155.4 metres for an
    aggregate interval of 41.1 metres.

  • Within the above interval no sample material was recovered from one interval of 7.62 metres. This interval was bounded by high grade zinc lead mineralization. It is not known if this interval was mineralized. As a result of a lack of assays for this
    interval, composite assay values for the entire interval cannot be calculated.

  • The drill hole encountered lead values of up to 51.24% over 1.52 metres in the upper part of the mineralized interval.

  • The drill hole contained zinc values of up to 48.4% over 1.52 metres in the lower part of the mineralized interval.

  • Composite assay intervals in the discovery drill hole included an upper high grade interval grading 32.55% lead and 0.71% zinc over 6.08 metres and a high grade interval at the bottom of the hole grading 41.3% zinc and 1.4% lead over 4.2 metres.

  • The previous operator from 2006-7 carried out soil geochemical sampling only on wide spaced (500 metre centered) lines. Samples were collected at only 50 metre intervals on the lines. The samples were analyzed for a suite of elements and an
    evaluation of those results show the strong correlation of a suite of indicator elements with the location of the historic zinc mine workings and scattered surface trenches that contain zinc mineralization as well as the location of the high grade
    zinc lead mineralization in the discovery drill hole.

  • The suite of elements that correlate with the presence of zinc lead mineralization include: zinc, lead, silver, barium, mercury, cadmium, arsenic, copper and thallium. The overall trend of this suite of elements can be traced for more than 3
    kilometres in a direction sub-parallel to bedding in a general northwest to southeast direction.

  • The geochemical anomaly tested with the discovery hole was not the strongest part of the three kilometre long multi-element anomaly and no drilling tested the other targets on the extensive anomaly.

 

History of Work and Geology

Zinc mineralization was first reported to have been mined in the Lone Mountain area in 1942 and operations between 1942 and 1964 were reported to have produced nearly five million pounds of zinc, six hundred and fifty thousand pounds of lead and
four thousand ounces of silver. Mined mineralization has been reported to consist of smithsonite, zincite, hydrozincite, cerussite, malachite and azurite along with minor sulphides. At this time it does not appear there is any public record of any
significant history of modern exploration work on the Property for zinc lead mineralization. The discovery of the high grade zinc lead mineralization in drill hole LM-07-01 appears to be a largely fortuitous event that occurred in the course of
exploring the Property for precious metal mineralization. The Company is not aware of any mineralogical work having been completed on the mineralization in discovery hole LM-07-01.

Part of the Property that extends well to the southeast is reported to have prospectivity for gold. The Company will evaluate these prospects as work on the Property proceeds.

Work by the previous optionee completed in 2007 included re-evaluation of the gravity and magnetic data available on the Property. Their evaluation also included the geochemical surveying as described above as well as a CSAMT geophysical survey that
successfully identified a significant resistivity contact crossing much of the Property in a direction mostly parallel to the interpreted stratigraphic trends in the area. The
high grade zinc lead mineralization appears to sit very close to the interpreted resistivity contrast. This interpreted contact may prove to be an excellent marker in follow-up drilling programs.

The mineralization discovered in drill hole LM-07-01 has not been well studied and remains open to considerable interpretation at this point. The mineralization is thought to be located at or close to the contact of the Devils Gate Formation, an
Early to Middle Devonian dolomite in the Nevada Formation. Rocks in the area generally strike northwest-southeast and dip generally 55 degrees easterly. There is a suggestion by some workers that the mineralization may be located at the intersection
of northwest and generally northeast trending structures, however, the single hole in the high grade zinc lead discovery to-date precludes any conclusions at this time as to the orientation of the mineralization. The Company has not been able to
ascertain the details, if any, of any QA/QC programs that were in place at the time of the last work on the Property and therefore the Company advises readers that all technical data in this release must be assumed to be historical in nature and as
such should not be relied upon. 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.

Goldspike Expands Lone Mountain Zinc Project Through Property Acquisition

Toronto, Ontario, October 10, 2014 - Goldspike Exploration Inc. (“Goldspike” or the “Company”) (TSX-V: GSE) announces it has signed a lease with an option-to-purchase agreement with Bravada Gold Corporation (“Bravada”) to acquire a 100% interest in their South Lone Mountain property (the “Property”), located along the Battle Mountain-Eureka Gold trend in central Nevada. Goldspike controls the larger adjacent property position known as its Lone Mountain Zinc project.

This acquisition increases the Company’s land position at the Lone Mountain property to more than 4,000 acres.

The South Lone Mountain property of Bravada consists of 28 unpatented mineral claims. In total Goldspike now controls 217 claims at Lone Mountain near Eureka, Nevada.

The newly acquired claims cover the northwesterly extension of a strong zinc soil geochemical anomaly that extends for more than 1,000 metres from a high grade zinc and lead drill hole intersection on the Lone Mountain Zinc property held by Goldspike (press release June 28, 2014). Goldspike has completed initial work on its property and expects to begin drill testing the area of the 2007 high grade zinc intersection this month.

Bruce Durham, President and CEO of Goldspike commented, “We are very pleased to have secured the Bravada claims because they add significant potential to the Lone Mountain project. We now control all but one claim in the entire area and will move quickly to evaluate the area for zinc and precious metals”. 

Portions of the Property cover the northwesterly extension of a strong zinc soil geochemical anomaly that extends for more than 1,000 metres from a high grade zinc and lead drill hole intersection on the Company’s Lone Mountain Zinc property (Goldspike press release June 24, 2014).

The Agreement provides Goldspike with the option to earn a 100% interest in the Property by making staged, escalating lease payments totalling US$325,000 in cash over a period of up to 10 years, during which exploration and development on the Property may be conducted by the Company. In addition, Bravada will receive 50,000 Goldspike common shares upon receipt of TSX Venture Exchange approval and another 100,000 Goldspike common shares in the event a NI-43-101 combined resource estimate for the Company’s Lone Mountain Zinc property and the Property indicates that at least 10% of the reported tonnage is attributable to the Property. All lease payments can be applied to the final purchase price of US$325,000, after which advance minimum royalty payments become due annually in the amount of the cash equivalent of 50 ounces of gold.

Bravada and a previous owner of the Property have royalties on production from the Property.  Bravada holds a 1.5% NSR on base metals production and a 3% NSR on precious metals production.  Bravada’s base metal NSR can be reduced to 1.0% and its precious metals NSR can be reduced to 1.5% concurrently, not individually, by Goldspike for a total cash payment to Bravada of US $3,000,000.  The previous owner of the Property holds a 1% NSR on both base and precious metal production from the Property.  Goldspike can concurrently, not individually, buy down the royalty on both base and precious metals to 0.5% for total cash consideration of US $3,000,000.

Bravada President Joe Kizis commented, “The South Lone Mountain property is not a core asset for Bravada, however, we recognize the property’s potential to host significant Mississippi-Valley-Type (MVT) zinc/lead/silver, as well as Carlin-type gold. Goldspike’s control of adjacent MVT mineralization at the historic Lone Mountain Zinc mine makes them an ideal partner to further explore and develop the South Lone Mountain property.”

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 release.

For further information contact:                              

Goldspike Exploration Inc. 
Suite 1500 - 4 King St. W.
Toronto, Ontario M5X 1C9 
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 Closing of $500,000 Non-Brokered Private Placement and Option Grants

Toronto, Ontario, August 12, 2014 – Goldspike Exploration Inc. (TSX-V: GSE) (Goldspike”) is pleased to announce that further to its press release of July 9, 2014, it has completed a non-brokered private placement financing with Norvista Capital Corporation (“Norvista”) (TSX-V: NVV) for aggregate gross proceeds of $500,000 (the “Offering”). The Offering consisted of the sale of 3,333,333 common shares in the capital stock of Goldspike (the “Shares”) at a price of $0.15 per Share. Goldspike intends to use the net proceeds from the Offering to fund continued exploration on Goldspike’s assets and for general working capital purposes.

The Shares issued pursuant to the Offering will be subject to a four month and one day statutory hold period.

Option Grant

Goldspike is also pleased to announce the grant of a total of 1,400,000 stock options to its directors and a consultant pursuant to Goldspike’s incentive stock option plan. The stock options were granted effective today, exercisable at a price of $0.15 per Share and expire on August 12, 2019. The options vested immediately upon grant. 

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 

CAUTIONARY STATEMENT: Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release. This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, Goldspike’s objectives, goals or future plans. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, changes in general economic conditions and conditions in the financial markets; changes in demand and prices for minerals; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments, and those risks set out in Goldspike’s public documents filed on SEDAR. Although Goldspike believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Goldspike disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

Goldspike Announces Warrant Exercise

Toronto, Ontario, August 7, 2014 – Goldspike Exploration Inc. (TSX-V: GSE) (Goldspike”) is pleased to announce that 3,341,667 common share purchase warrants (the “Warrants”) have been exercised for proceeds of $501,250. The Warrants were part of a tranche originally issued on October 6, 2010 with an expiry date of August 3, 2013. In July, 2013, Goldspike applied to, and received approval from, the TSX Venture Exchange to amend the expiry date of the Warrants a further year to August 3, 2014.     

“The exercise of the Warrants demonstrates confidence in the Company and its mineral properties,” stated  Bruce Durham, President and CEO of Goldspike.   “The additional funds will
allow Goldspike to expand the scope of its 2014-15 work programs and complete a
substantial amount of exploration on the Company’s properties in Yukon and Nevada”.

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 

 

CAUTIONARY STATEMENT: Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release. This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, Goldspike’s objectives, goals or future plans. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, changes in general economic conditions and conditions in the financial markets; changes in demand and prices for minerals; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments, and those risks set out in Goldspike’s public documents filed on SEDAR. Although Goldspike believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Goldspike disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

Goldspike Receives Exchange Approval for Acquisition of Lone Mountain Zinc Property

Toronto, Ontario – July 23, 2014 – Goldspike Exploration Inc. (“Goldspike”) (TSX-V: GSE) is pleased to announce that, further to its press release dated June 24, 2014, it has received approval from the TSX Venture Exchange for the assignment (the “Assignment”) of the Lone Mountain Zinc Property comprised of 170 claims in Eureka County, Nevada (the “Transaction”) from Norvista Capital Corporation (“Norvista”). In connection with the Transaction and in consideration for the Assignment, Goldspike today issued 2,000,000 common shares of its capital stock (“Shares”) to Norvista at a deemed value of $0.15 per Share. The Shares are subject to a statutory four month and one day hold period expiring on November 24, 2014.

For further information contact:

4 King Street West, Suite 1500

Toronto, Ontario

M5H 1B6

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