Announcement • Jul 11
Golden Spike Resources Corp. Commences 2025 Exploration Program at Gregory River Copper-Gold Property
Golden Spike Resources Corp. announced the launch of its 2025 summer exploration program on its 100%-owned Gregory River Copper-Gold Property ("the Property"), located in western Newfoundland. Initial work has commenced and is focusing on trail repairs to ensure safe and efficient access to key zones, followed by an approximately 500-meter Winkie drill program and regional soil sampling and prospecting. The drilling will concentrate in the northern part of the Property and test several trail-accessible volcanogenic massive sulphide ("VMS") and vein-style copper-gold targets, including the northeast part of Lode 9, Lower Mitchell, Court A and Vein Zone West. The trail repairs and drilling will be completed by Majors Contracting Ltd. using a UTV-mounted Winkie drill rig producing AQ diameter core (27 mm). Several shallow drill holes, each averaging about 50 meters in drilled depth will be completed at each target area and are designed as a prospecting tool to explore near-surface prospects and anomalies. Any significant results will be followed up with a larger diamond drill rig, capable of deeper holes and larger diameter core during future exploration phases. The Winkie drilling is expecting to be completed over a several week program during July with analytical results completed near the end of the summer. Drill Targets. Lode 9 - Northeast. Located in the northeast corner of the Lode 9 target area is a high priority, north-trending IP/resistivity ("IP") anomaly that was revealed during the 2024 exploration program. Even though the IP anomaly was scheduled to be drilled during the 2024 drilling program, the hole was postponed due to weather constraints. The area of the anomaly is covered with overburden and is close to the interpreted basalt-gabbro contact, a prime location for VMS mineralization in this district. Most of these samples are grab samples and the reader is cautioned that grab samples, by their nature are selective samples that may not represent the underlying values. The Company believes that the upcoming Winkie drill program will provide a better understanding of the potential subsurface grades and widths of mineralization at this prospect. Interpretations by Golden Spike suggest that the 17 historical drill holes from the 1950's that traced the structure over approximately 320 metres might not have tested the full potential width of the vein system, as drill records show only the highest-grade portion of the vein was sampled, leaving most of surrounding altered and mineralized host rock unsampled. Potential exists for wider, mineralized haloes to surround the main veins and for the discovery of new veins hidden below surface soil and till cover. The historical drill holes were completed by Cape Copper Mines Ltd. between 1951 and 1954 and are documented in the following reports: "Gillespi, C.R., 1951, Diamond Drilling Core Logs Holes 1 to 9, Gregory River Area, Unpublished Report, Geological Survey of Newfoundland, Assessment File 012G/0011; "McKillop, J.H., 1953, Diamond Drill Logs Hole 14 to Hole 17, Gregory River Copper, West Coast Newfoundland, Unpublished Report, Geological survey of Newfoundland, Assessment File 01 2G/015; "Bichan, W J, Rogers, J C and McKillop, J, 1954. Report on geological and diamond drilling exploration on Reid Lots and claims 3712-3715 in the Gregory River area, western Newfoundland. Assessment File 12G/08/0126, 1954". None of the historical core from Court A has been kept and the Qualified Person ("QP") is not able to validate any of the historical drill results. However, recent surface sampling by the Company corresponds with the general grades reported from these drill holes and the QP feels that it is reasonable to report these drill holes as historical as they provide a useful guide for future exploration. It should be noted that gold and other elements were not analysed for these historical drill holes, but these will be analysed in the upcoming program. In addition to the upcoming program. In addition To the the winkie drilling, Golden Spike will also initiate a detailed soil sampling and prospecting program across key prospective areas of the property to refine drill targeting and evaluate potential extensions to known mineralized zones. Such risks include, without limitation: the volatility of global capital markets, political instability, political instability, political instability. Such risks include, unanticipated costs, risks relating to the extent and duration of the conflict in Eastern Europe and its impact on the extent and duration of the extent and duration of the resolution of the extent and duration of The company's impact on global capital markets, risks include, risks include, risks include the conflict in Eastern Europe and the conflict in Eastern Europe and duration of the extent and its impact on global capital markets, unanticipated costs, risks include, risks include. Such risks include, risks include, unanticipated costs.
