Newstrike Capital Inc. files report, outlines successful exploration program in Oaxaca
NEWSTRIKE CAPITAL COMPLETES TECHNICAL REPORT ON THE NEWLY DISCOVERED GOLD AND SILVER SYSTEM, EJUTLA PROJECT, OAXACA
Newstrike Capital Inc. has completed an independent NI 43-101 technical report that outlines the results of a successful exploration program on its Ejutla property located in Oaxaca state, Mexico (see June 2, 2014, news release). Three significant mineralized structural corridors, each host to extensive gold- and silver-bearing low-sulphidation epithermal veins, have been identified on the property.
The technical report titled, “Geological report and summary of field examination, Ejutla property, municipalities of San Pedro Taviche and San Nicolas Yaxe, district of Ocotlan, and municipalities of Santa Maria Zoquitlan and San Pedro Totolapan, district of Tlacolula, Oaxaca state, Mexico,” with an effective date of July 1, 2014, will be filed on SEDAR today. The report was completed by Robert Lunceford, MSc, CPG, of Reno, Nev., who concludes: “Geochemical sampling and geologic mapping completed on the property has indicated a style of low-sulphidation gold-silver mineralization that is believed to be similar to gold-silver mineralization in the central Taviche mining district, in which the property is located. Work completed by the company on the Ejutla property has been successful in advancing the property to a stage where drill testing is warranted and necessary to determine the economic viability of the property.”
The 18,866-hectare Ejutla property is 100 per cent owned by Newstrike with no third party royalties. It is located 45 kilometres south of the capital city of Oaxaca de Juarez in the Oaxaca Central Valley region of Fortuna Silver’s producing San Jose-Trinidad mine 20 kilometres to the west of Ejutla, and Gold Resources’ El Aguila mine 25 km to the east, as well as several other Canadian exploration projects.
The report includes recommendations for additional exploration and drilling. The company will evaluate the recommendations in the report to select the targets and scope of work for future-focused exploration programs.
“I’m extremely pleased with the progress being made on site and Ejutla’s potential upside. Given the geology, mineralization, size and location, the property is shaping up to be an attractive gold-silver exploration opportunity,” stated Richard Whittall, president and chief executive officer of Newstrike.
