Goldseek Commences Maiden 1,200m Drill Program at Bonanza (Urban Barry)

(TheNewswire)

December 8th, 2020, - TheNewswire - London, Ontario - Goldseek Resources Inc. (CSE:GSK) (CNSX:GSK.CN) (“Goldseek” or the “Company”) is pleased to announce that drilling on selected targets of the Bonanza Property has commenced. The previously completed IP geophysical ground survey (see news release dated November 3 rd , 2020) defined geophysical conductors and chargeable anomalies on the Bonanza Property. Some of the anomalies closest to surface were tested during the trenching campaign (see news release dated October 28th, 2020), while the deeper anomalies will be tested during this drill program. A subsequent news release will detail the trenching results once the final compilation of the data is complete.

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The results include a gold anomaly of 644 ppb Au (0.644g/t Au) over one meter in a channel sample, associated with two additional anomalies in adjacent channels. The trenching assay results for gold and base metals were plotted over the 2018 airborne magnetic and TDEM survey, and the IP survey conducted earlier in September 2020. The gold anomaly defined during trenching is located in the vicinity of a low magnetic anomaly and also over defined IP anomalies.

For this drill survey, the technical team targeted IP targets that were not trenched and also targets that were located close and inside of the magnetic lows. Two main magnetic lows are located over the IP grid, and they could be explained by alteration zone through the magnetic lineament or structurally complex zones, both scenarios are favorable for gold mineralization and the drilling will investigate both.

The IP grid area is expected to host the source of till sample gold and metal anomalies that were sampled during summer 2020 (see news release dated September 16th, 2020).

Goldseek's President & CEO Jon Deluce states, "We are very excited to kick off our maiden 1,200M drill program at Bonanza. Over the past 6 months, we completed our first two phases of exploration leading up to drilling on time and under budget, so I thank our technical team for all of their hard work! The presence of gold in our trenching results shows that the system is gold-bearing, and we look forward to exploring the anomalies at depth. Upon any positive observations/results, the Company is well funded to extend the drill program if warranted.”

Figure 1: Drillholes

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Sixteen (16) 100m diamond drillholes (DDH) have been planned over the IP grid. They are positioned to intersect magnetic highs, lows or strong gradients, TDEM anomalies, and medium to strong chargeable or conductive anomalies. The Company expects to drill approximately up to 1,200m (12 targets) and will modify its planning depending on the field observations. Table 1 presents the geophysical targets.

Table 1: Drillholes Targets

DDH BZ-20-	Magnetic Target	TDEM Target	IP Target	Other Comment
001	High		Strong Conductor & Chargeable at 35m
002	Low		Medium Conductor & Strong Chargeable at 35m
003	High	Strong Early Off-Time	Medium Conductor & Strong Chargeable at 35m
004	Strong Gradient	Early Off-Time Gradient	Medium Conductor & Strong Chargeable at 35m	Fence Drilling to test Strong Gold Anomalies in Trenches
005	Strong Gradient	Early Off-Time Gradient	Medium Conductor & Strong Chargeable at 35m	Fence Drilling to test Strong Gold Anomalies in Trenches
006	High		Strong Chargeable at 35m-65m
007	Low	Early Off-Time Gradient	Strong Conductor at 35m-65m
008	Low	Strong Early Off-Time	Medium Conductor & Strong Chargeable at 35m-65m	Near or in interpreted Fault Maseres
009	Strong Gradient	Early Off-Time Gradient	Medium Conductor & Strong Chargeable at 35m	Near or in interpreted Fault Maseres
010	Low		Medium Conductor & Strong Chargeable at 35m-65m	Near or in interpreted Fault Maseres
011	Strong Magnetic Gradient	Early Off-Time Gradient	Medium Conductor & Strong Chargeable at 35m-65m
012	Strong Magnetic Gradient	Strong Early Off-Time	Medium Conductor at 65m
013	Magnetic Low		Strong Conductor & Chargeable at 35m	Magnetic NW-SE Lineament
014	Strong Magnetic Gradient			Possible Iron Formation Extension to the south
015	Strong Magnetic Gradient	Strong Early Off-Time		Possible Iron Formation Extension to the south
016	Strong Magnetic Gradient	Early Off-Time Gradient		Small Surface Off-Time Anomaly

Qualified Person

This press release was prepared by Steven Lauzier, VP Exploration for Quebec, P.Geo,OGQ and by Pierre-Alexandre Pelletier, P.geo OGQ, who are qualified persons 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 five 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, Val D’Or, 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: [email protected]

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.

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Goldseek Commences Maiden 1,200m Drill Program at Bonanza (Urban Barry)

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