VANCOUVER, BRITISH COLUMBIA—(February 2, 2016) – Strike Point Gold Inc. (the "Company" or "StrikePoint") (TSX VENTURE:SKP) is pleased to announce the first phase of drilling at the Lobstick Gold Property near Sioux Narrows, Ontario is now completed with the assay results. The property is located in the developing Wabigoon Subprovince of the Superior Province.
The first phase of drilling has been successful in delineating broad zones of gold mineralization consistent with similar low-grade, bulk tonnage type deposits currently being developed in the Superior Province. This program was successful despite Strikepoint Gold’s limited amount of drilling performed on the property. A total of only 1,040 meters were completed between 3 drillholes.
Highlights within these broad zones of mineralization:
LB15-01: 35.0 m of 0.68 g/t Au (includes 15.3 m of 1.25 g/t Au).
LB15-02: 38.0 m of 0.87 g/t Au (includes 18.0 m of 1.54 g/t Au).
32.2 m of 0.39 g/t Au
21.5 m of 0.24 g/t Au
LB15-03: 95.0 m of 0.44 g/t Au (includes 30.0 m of 0.82 g/t Au)
What is unique about these mineralized intersections is the grade consistency and continuity. Mineralization seems to be distributed within a series of 3 distinct zones (as displayed in LB15-02), with some overlapping of these zones along strike. LB15-01 is lacking more significant thickness than the other holes partly because the hole wasn’t extended far enough.
Similar mineralized intersections are currently being developed at various deposits in the Superior Province. Within these mineralized systems, eventually higher grade zones are discovered in these broad mineralized envelopes, which is the catalyst for economic development. “Now that we know more precisely what the geophysics is revealing to us, we can target more appropriately moving forward in conjunction with the newly acquired geochemistry,” stated John Florek, Project Manager and Technical Advisor for Strikepoint Gold.
Of significance, 300 meters of strike length was delineated, so-far, during the drilling of these three holes, which was defined at various levels of elevation within the mineralized shear zone. We expect this strike length to continue growing. This suggests the potential for significant tonnage as we continue to build the narrative.
We are located only 80km by road from New Gold’s Black Hawk Mine.
The mineralization is hosted in rhyolite to dacite volcanoclastics. It is geochemically enriched in potassium and depleted in sodium; showing strong sericitic alteration. Gold endowment has a strong association of fluorite and pyrite, which suggests an affinity towards a low sulphidation epithermal-style system. Outside the regions of fluorite mineralization, gold values seem to diminish. Despite a direct correlation between the amount of fluorite and gold, there is clear correlation of anomalous zinc (sphalerite) associated with increased gold grades in fluorite enriched areas.
At New Gold’s Rainy River Project, the most abundant gold mineralization is associated with zinc (sphalerite), and is hosted in similar rock types. This association needs further understanding at Lobstick.The underexplored Wabigoon Subprovince is attracting attention, specifically with the development of New Gold’s Rainy River Project.
The company’s website displays several figures related to the project for observation.
Additional information can be viewed at the Company's website www.stikepointgold.com.
On Behalf of the Board of Directors of Strike Point Gold Inc.
Shawn Khunkhun, President, CEO