Vancouver, B.C., January 18, 2011 - Newstrike Capital Inc. (TSXV: NES) ("Newstrike" or the "Company") is pleased to announce assay results for the first eight holes from the Company's drill program at the 100%-owned Ana Paula Project, Guerrero Gold Belt, Mexico. Selected highlights include:
|AP-10-19:||214.00 meters of 3.00 g/t Au and 5.5 g/t Ag, including;|
0.80 meters of 31.20 g/t Au and 42.2 g/t Ag;
0.50 meters of 439.00 g/t Au and 126.00 g/t Ag, and
1.09 meters of 105.00 g/t Au and 6.6 g/t Ag.
|AP-10-13:||24.03 meters of 2.14 g/t Au and 2.7 g/t Ag;|
|AP-10-16:||23.13 meters of 4.06 g/t Au and 6.1 g/t Ag, including;|
1.00 meters of 77.35 g/t Au and 14.2 g/t Ag.
|AP-10-17:||20.17 meters of 1.53 g/t Au and 4.3 g/t Ag.|
All key objectives for the program have been achieved, including:
Richard Whittall, President and CEO of Newstrike, commented, "Our initial results are indicative of another significant gold discovery in the Guerrero Gold Belt. Ana Paula is already an exploration success with tremendous expansion potential. I look forward to continued excellent results as we progress with our drilling program."
Table of selected highlights from Phase 1 Drilling at Ana Paula, Guerrero
Weighted grade drill intercepts using a 0.2 g/t cutoff.
|Drill Hole||From||To||Interval||Au (g/t)||Ag (g/t)|
*Includes samples of 0.074 g/t Au/0.64meters and 0.055 g/t Au/1.00 meters
**Includes 3 consecutive samples averaging 0.132 g/t Au/3.0 m
A table of all weighted grade intercepts is available on the company website together with a drill location map at www.newstrikecapital.com. Drill intercepts in holes angled at -45˚ are nearly perpendicular to the perceived strike and dip, thus are a close approximation of true width; however, true width is not accurately known at this time.
The mineralized intervals in core tend to be separated by "barren" intervals that may or may not contain narrow anomalous sections and local high-grade spikes that are not included in the calculations of mineralized intervals. Unless specified otherwise, reported intercepts are calculated according to a protocol that uses a 0.2 g/t Au cutoff for bounding assays. Reported grade intervals are based on the original uncut assay certificates as received from the assay labs. They do not include check assays pending at the time of reporting.
Newstrike maintains strict QA-QC protocols for all aspects of their exploration programs. Sample protocols include systematic insertion of blanks and standards. Analyses in this release were performed by both ALS Chemex and by SGS. Samples from each lab were selected to be sent to the alternate lab for check assay. Samples analyzed by Chemex are picked up by Chemex personnel at Newstrike's on site warehouse, and transported directly to their Guadalajara sample preparation facilities prior to shipping pulps to Vancouver, Canada for analysis. Project personnel delivered samples analyzed by SGS directly to their Mexico facilities or samples were picked up on site by SGS personnel and delivered for processing and analysis at the SGS Laboratory in Durango, Mexico. All samples are assayed using the respective laboratories certified and industry standard assay techniques for gold and multi-element packages and for over limits; Au was analyzed by 50 gram fire assay with an atomic absorption finish, and other elements were analyzed by multi-element ICP packages.
The drill program and all project operations are conducted under the direction and supervision of Dr. Craig Gibson, PhD, CPG and a qualified person under NI43-101. Dr. Gibson has reviewed the contents of this press release. Ken Thorsen, a director of the company and a qualified person under NI43-101 has also reviewed the contents of this press release.
About Newstrike (TSX-V: NES)
Newstrike Capital Inc. is a gold-silver focused explorer, targeting known and historic mining districts in Mexico. Current management and directors co-discovered Goldcorp's and Teck's significant discoveries in Guerrero Gold Belt in Guerrero State, currently in advanced stages of exploration and production.
Newstrike holds a 100% interest in certain exploration properties in Mexico located within two established mining districts; the gold bearing oxidized iron skarn-porphyry camp of the Guerrero Gold Belt, and the polymetallic Ag-Au-Cu rich epithermal camp of the mining districts of Oaxaca State.
For further information contact:
Newstrike Capital Inc.
Director, President & CEO
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