OVERVIEW
Goldstake Explorations Inc. is a Canadian mining exploration and development company with a diversified portfolio of precious metals, base metals and uranium properties in Canada, United States and Australia. The Company is listed on the Toronto Stock Exchange under symbol GXP and the Frankfurt Exchange under symbol GOO. With an exciting array of actionable properties worldwide, the Company continues to seek valuable properties around the globe.
KEY PROPERTIES OVERVIEW
Australia
Home of Bullion Mine, N.T.
This property, which is 50% owned by Goldstake, and as a former high grade copper producer with associated high grade silver, lead, zing and gold, has turned out 2,500 tons of 22.5% copper.
Historically estimated resource is over 300, 000 tonnes of 13% copper (approx 40,000 tonnes of copper metal)
Drilling in August 2006 produced assays of 6.22% copper over 4.l7 metres with 3.8% zinc, 1.4% lead, 78.7 g/t silver and 0.60 g/t of gold.
The property is in advanced stage and the Company’s intention with its partners is to spin off the interest into a new Australian public company, raising Australian $15 million dollars to confirm and increase the reserves and prepare a bankable feasibility study.
Prospect “D”, N.T
The property is 50% owned by Goldstake and historical estimated reserves are 1.53 million tonnes at 0.25% nickel and 0.62% copper at a width of over 28ft in sulphides and an additional 1.63 million tonnes at 0.15% nickel and 0.51% copper over 30ft in oxides.
The Company’s intention with its partners is to spin off the interest into a new Australian public company raising (AUS) $15 million to confirm and increase the reserves and prepare a bankable feasibility study.
Hill End, NSW
The Australian Hill End, Golden Gully property consists of two gold leases totaling 20 acres in addition to a 90-acre dredging lease, all of which have been recently renewed for 20 years and 10 years respectively. The Hill End goldfield is the richest goldfield per ton of ore crushed in history, with an average recovered gold grade of 30 ounces per ton where the largest gold nugget in history, weighing 639 lbs, was mined in 1872. The Golden Gully mineralized veins extend for 1.7 kilometers in a saddle reef formation comprised of 11 gold-bearing reefs. Mining at Golden Gully stopped in 1872 at which time the mining grade, at the bottom of the cosmopolitan, was 20 ounces/ton and mining stopped because the mining in those days could not handle the water inflow. Work has started on re-opening the cosmopolitan shaft.
The Company has a 14% interest in the property and is acquiring another 20%.
Canada
Rose Project – McGarry Township, Ontario
This property is 100% owned by Goldstake. The 1280 acre property is located in the Kirkland Lake-Larder Lake region of Ontario. This property is comprised of VMS base metals, specifically a zinc-copper occurrence, hosted in a dark cordierite-bearing metavolcanic unit referred to as “dalmatianite-like”. Rock samples collected from an initial examination returned zinc values ranging 0.3 to 11%. Further zinc-copper exploration will take place this season, which will include geological mapping and additional rock sampling. A ground magnetometer-electromagnetic survey will be initiated this coming winter.
Hemlo, Ontario
Goldstake owns a 50% interest in the 104-acre property, located inland near the northeastern side of Lake Superior and adjacent to the Hemlo David Bell gold mine. Geological evidence suggests that the Hemlo orebody might dip to the north where Goldstake’s leases are located.
McGarry Property, Ontario
The main focus of past exploration on this property is several zones of gold and copper mineralization. Approximately 1600ha in size, the Company can acquire 75% interest on this property from Transpacific Resources Inc. by spending $ 2.5 million before December 2009. The project is located 30km east of Kirkland Lake, Ontario and 3.3km northwest from the Kerr-Addison Mine, which has produced approximately 11 million ounces of gold historically. A March/April, 2005 9-hole diamond drilling program produced outstanding intersections of gold at shallow open-cuttable depths. The highlight was hole #11, on the south zone, which recovered a spectacular 33.29 g/t. au over 8.76 m. (0.97 oz. au per ton over 28.7 ft.), including 1078.97 g/t. (31.47 oz. per ton) over 0.19 m. (0.6 ft.), from 93.92 m. to 102.68 m.
Furthermore, diamonds, kimberlite and kimberlite indicator minerals were recovered from till sampling during two previous sampling programs from 100 kg samples.
The Company intends to drill the property to evaluate the gold intersections and the diamond kimberlite anomalies.
Bancroft Region, Ontario
As of September 5, 2007, Goldstake has completed 4 uranium acquisitions in the Bancroft area of Ontario. All 4 projects are 100% owned by the Company. Historical sampling (Pre NI 43-101) of the South Canonto claims (832 hectares) covers a potential large tonnage uranium/thorium/rare earth deposit with values reported up to 9.8 lbs. uranium oxide (U 308), 36 lbs. thorium [Th] and 10 lbs. per ton rare earth oxides [ree], of which 9.2 lbs. per ton are oxides of lanthanum, cerium, neodymium, praseodymium and yttrium.
USA
Whitewood Creek, South Dakota
With recovery costs totaling approximately $145/oz, and a controlling interest of over 250,000 ounces (out of a total of 729,000 ounces proven and minable gold reserves) [Pre NI 43-101], Whitewood Creek remains a formidable asset for the Company. Mining has yet to commence, pending a mandatory mining permit at an estimated cost of $3 million USD.
Utah Uranium Prospects
Goldstake owns 50% of 200 claims of 22 acres each, one block of claims comprises one square mile and is adjacent to the Denison/IUC, Tony M Mine, currently in development in the Henry Mountains Uranium Complex. In addition another block approx. 3 quarters of a square mile is adjacent to the SXR Uranium 1 treatment mill. The third property is approx. 6miles by 2 miles and a large part of which has the uranium bearing Morrison Formation perched above the surrounding terrain.
MANAGEMENT
Robert B. Cleaver, Director, Chariman & CEO
33 years experience in precious metals exploration & mining; global network of contacts including top mining industry specialists.
Charles L. McAlpine, Director, CFO & Secretary/Treasurer
41 years mining industry experience, director of several Canadian mining companies & recently retired after 18 years as a director of Hecla Mining Company, a major US silver/gold producer.
Peter Froneman, Director & Audit & Finance Committee
Canadian businessman involved with the engineering equipment industry for 31 years.
Peter Mills, Director & Audit & Finance Committee
Senior Executive with over 30 years experience in marketing, advertising & real estate in Canada and the United States.
