Goldseek Commences Trenching on IP Targets at Bonanza (Urban Barry)

October 28, 2020 – TheNewswire – London, OntarioGoldseek Resources Inc. (CSE:GSK) (CNSX:GSK.CN) ("Goldseek" or the "Company") is pleased to announce it will conduct a trenching program on selected targets of the Bonanza Property. The trenching targets were placed on the previously announced IP (see news release dated October 14th, 2020) found conductors located close to surface. An IP investigation was completed following the discovery of multiple soil anomalies located down ice from a 15-km long conductive anomaly defined by an airborne VTEM survey. A program consisting of twelve trenches totaling approximately 290 line-meters will start the beginning of November and take approximately 10 days to complete.

Goldseek’s President & CEO Jon Deluce states, "This maiden trenching program on IP anomalies aims at finding a possible source of the previously discovered soil anomalies down ice from the currently worked areas. Trenching is the final step towards confirmation of drill targets for December 2020, and the results will help us better interpret the IP anomalies that were defined. By following our proven systematic approach to define our drill targets, we have increased our chances of making a discovery in the Urban Barry Camp. We look forward to keeping investors updated on our progress and commencing our maiden drill program in December."

Figure 1: Planned Trenches on the Property and Related Polarizable Axis


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The trenching targets are located on a 15km long iron formation that is locally conductive. This formation is expected to be the source of the soil anomalies located down-ice of Target 1, which had anomalous elements of: Au, Ag; Co, Cu, Mo, Zn; and As, Te, Ni, Se, Sb, Hg, Tl & Rb.

Following up on these geochemical anomalies, the IP survey conducted earlier in October 2020 defined 60 geophysical resistive and chargeable anomalies on the Bonanza Property. The intensity of the anomalies; the superposition of chargeable and resistive anomalies; the magnetic association; the width of the anomalies; and the continuity at depth of the anomalies were used to define the priority level of the trenches. The Company will soon disclose the results of the IP survey once final interpretation is obtained.

Including the twelve high-priority trenches, a total of 889 meters over 45 trenches have been permitted.

Table 1. Description of the targeted Axis (Dynamic Discovery Geoscience, 2020)

Axis

Length (m)

Resistivity

Chargeability

Magnetic association

P-2

100

Conductive locally

Weak

Near weak high

P-7

100

Resistive locally

Marginal to weak

Moderate high locally

P-9

No contrast

Marginal

Strong high

P-10

100

Conductive

Moderate to strong

Strong high

P-24

700

Conductive locally

Weak to moderate

Strong high locally

P-26

200

Conductive

Moderate to strong

Strong high

P-27

900

Conductive mostly

Weak to strong

Strong high mostly

P-30

200

Conductive mostly

Marginal to weak

Near strong high

P-32

900

Conductive

Marginal to strong

None mostly, near strong high locally

Anomalies not identified at surface were not targeted for this trenching campaign, and they will be tested through drilling, which is expected to start in December 2020. The upcoming drill program will also follow-up on any discoveries made during this program.

Qualified Person

This press release was prepared by Steven Lauzier, VP Exploration for Quebec, P.Geo,OGQ who is a qualified person as defined under National Instrument 43-101, and who reviewed and approved the geological information provided in this news release.

About Goldseek Resources Inc.

Goldseek Resources Inc. is a Canadian exploration company with a portfolio of assets in Ontario and Quebec, Canada. By identifying four projects in world-class mining locations, Goldseek is poised to deliver shareholder value through rigorous exploration and development on these properties. Our mission is to find the next major discovery in the mining camps of Urban Barry, Quevillon, and Detour Gold Trend in Quebec and Hemlo in Ontario.

ON BEHALF OF THE BOARD

Jonathon Deluce

Chief Executive Officer

Telephone: 226-271-5170

For more information, please contact:

Goldseek Resources Inc.

E-mail: goldseekresources@gmail.com

The reader is invited to visit Goldseek’s web site https://www.goldseekresources.com/

Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

Copyright (c) 2020 TheNewswire – All rights reserved.

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