StrikePoint holds prospective gold exploration properties in The Wabigoon, within the Rowan Lake Greenstone Belt in Ontario and in the Rice Lake Greenstone Belt in Manitoba.
The Lobstick property consists of 32 claim units totalling 512 hectares located 50 kilometres southeast of Kenora, Ontario. The property is readily accessible by logging roads and 10 km east of Hwy 71.
On a regional scale the property occurs near the junction of two major regional crustal breaks - the Wabigoon Fault and the Pipestone-Cameron Fault. The Wabigoon Fault is associated with Treasury Metal's Goliath Gold Deposit and the Pipestone-Cameron Fault is associated with Chalice Gold's Cameron Lake Gold Deposit. Locally, the property is within the Lobstick Bay Deformation Zone, which is a splay off the Wabigoon Fault. This deformation zone is comprised of three strongly-foliated, intensely altered, quartz, sericitic-schists containing disseminated pyrite within intermediate to felsic volcanics.
The alteration is highly anomalous in gold mineralization and historical drilling confirms this scenario, with an intercept in the Main Zone assaying 38.95 m of 0.63 g /t Au (DDH LB01-03). Of noteworthiness, the Main Zone, hosting this intercept, is only drilled to a maximum depth of approximately 25 vertical meters. This area has received very little attention; a limited drilling program was performed in 1986.
In the Wabigoon Region, New Gold and Bayfield Ventures are using these lower grade mineralizing envelopes as exploration guides on the Rainy River/Burns Block Projects to delineate higher grade gold discoveries down dip/plunge of lower grade mineralization that is delineated for a low-grade open pit scenario.
The Angelina property in the Rice Lake Project is near to or contains historic mineralized gold showings and is located southeast of the Ross River Pluton but still within the Bidou Assemblage that contains the same sequence of rock types as those that host the San Gold gold deposits at Rice Lake approximately 30 kms to the northwest.