All Posts By

StrikePoint Gold

STRIKEPOINT SIGNS DEFINITIVE AGREEMENT TO SELL GLACIER CREEK PROPERTY TO AMERICAN CREEK

By | 2020

Vancouver, British Columbia — January 21st, 2020 StrikePoint Gold Inc. (“StrikePoint” or the “Company”) (SKP:TSX.V)(STKXF:OTCQB) announces that the company has signed a definitive agreement dated January 16, 2020, with American Creek Resources (AMK:TSX.V) with respect to the acquisition by American Creek of 100 per cent of StrikePoint’s Glacier Creek property. The property is located approximately 8km northeast of the town of Stewart in British Columbia’s, Golden Triangle. The terms of the transaction set out in the definitive agreement include:

 

  • American Creek will acquire 100 per cent of the property;
  • American Creek will issue three million common shares to StrikePoint;
  • American Creek will make a cash payment to StrikePoint of $50,000;
  • StrikePoint will retain a .5 per cent net smelter return royalty, which can be purchased for an additional cash payment of $500,000.

 

StrikePoint CEO Shawn Khunkhun commented: “With back to back property divestments, StrikePoint is demonstrating an ability to create a portfolio of shares in active junior mining companies. With over 20 gold and silver properties still under 100% ownership, it’s our goal to continue on a path of M&A activity. We are giving our shareholders exposure to multiple companies and assets through this strategy. We will continue to focus our exploration on our flag ship projects Porter and Willoughby, while having other partners develop our non-core assets. With specific regard to the American Creek transaction, we are very excited to give our shareholders exposure not only to Glacier Creek and the Dunwell Property, but also the Treaty Creek Property. Treaty Creek is one of the most exciting new discoveries in the Golden Triangle that is 60% owned by Tudor Gold (TUD:TSX,V), 20% carried interest by both Teuton Resources (TUO:TSX.V) and American Creek.”

 

About StrikePoint

StrikePoint Gold is a gold exploration company focused on building high-grade precious metals resources in Canada. The company controls two advanced stage exploration assets in BC’s Golden Triangle. The past-producing high-grade silver Porter Project and the high-grade gold property Willoughby, which is adjacent to Red Mountain. The company also owns a portfolio of gold properties in the Yukon.

 

ON BEHALF OF THE BOARD OF DIRECTORS OF
STRIKEPOINT GOLD INC.

“Shawn Khunkhun”

Shawn Khunkhun
Chief Executive Officer and Director

Statements in this release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed under the heading “Risk Factors” and elsewhere in the Company’s filings with Canadian securities regulators. Such information contained herein represents management’s best judgment as of the date hereof based on information currently available. The Company does not assume any obligation to update any forward-looking statements, save and except as may be required by applicable securities laws.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

 

For more information, please contact
StrikePoint Gold Inc.
Shawn Khunkhun, CEO and Director
T: (604) 602-1440
E: sk@strikepointgold.com
W: www.strikepointgold.com

STRIKEPOINT SIGNS DEFINITIVE AGREEMENT TO SELL MAHTIN PROPERTY TO SITKA GOLD

By | 2020, News

Vancouver, British Columbia — January 14th, 2020 StrikePoint Gold Inc. (“StrikePoint” or the “Company”) (SKP:TSX.V)(STKXF:OTCQB) announces that the company has signed a definitive agreement dated January 13, 2020, with Sitka Gold with respect to the acquisition by Sitka of 100 per cent of StrikePoint’s Mahtin property. The property is located approximately 40km northwest of the town of Mayo in the central Yukon Territory. The terms of the transaction set out in the definitive agreement include:

 

  • Sitka Gold will acquire 100 per cent of the property;
  • Sitka Gold will issue two million common shares to StrikePoint;
  • StrikePoint will retain a 1 per cent net smelter return royalty, which can be purchased for an additional cash payment of $1-million.

 

StrikePoint CEO Shawn Khunkhun commented: “The Mahtin transaction will provide StrikePoint with a significant share position in Sitka and a royalty on the Mahtin property. This will provide StrikePoint shareholders with exposure not only to the exploration upside at Mahtin, but to Sitka’s entire project portfolio, which include the Burro Creek Gold-Silver Deposit in Arizona, the Alpha Gold Project in Nevada and the RC Gold Property in the Yukon. Sitka’s has a strong technical team, good share structure with significant ownership by management and have demonstrated an ability to finance operations.

 

About StrikePoint

StrikePoint Gold is a gold exploration company focused on building high-grade precious metals resources in Canada. The company controls two advanced stage exploration assets in BC’s Golden Triangle. The past-producing high-grade silver Porter Project and the high-grade gold property Willoughby, which is adjacent to Red Mountain. The company also owns a portfolio of gold properties in the Yukon.

 

ON BEHALF OF THE BOARD OF DIRECTORS OF
STRIKEPOINT GOLD INC.

“Shawn Khunkhun”

Shawn Khunkhun
Chief Executive Officer and Director

Statements in this release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed under the heading “Risk Factors” and elsewhere in the Company’s filings with Canadian securities regulators. Such information contained herein represents management’s best judgment as of the date hereof based on information currently available. The Company does not assume any obligation to update any forward-looking statements, save and except as may be required by applicable securities laws.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

 

For more information, please contact
StrikePoint Gold Inc.
Shawn Khunkhun, CEO and Director
T: (604) 602-1440
E: sk@strikepointgold.com
W: www.strikepointgold.com

STRIKEPOINT COMPLETES THE TRANSACTION OF THE HIGH-GRADE SILVER PORTER PROPERTY

By | 2019

Vancouver, British Columbia — December 9th, 2019 StrikePoint Gold Inc. (“StrikePoint” or the “Company”) (SKP:TSX.V)(STKXF:OTCQB) announces in relation to the amended share purchase agreement (See News Release, July 23, 2018) between the Company and Skeena Resources Ltd. (“Skeena”) regarding the acquisition of the wholly-owned subsidiary Mount Rainy Silver Inc. (“Mount Rainy”), the intended completion of all payments thereunder. Mount Rainy was a private entity holding the Company’s interests in the Porter property immediately southeast of Stewart in northwestern British Columbia. The Company will pay the outstanding balance of $750,000 due on or before December 31, 2019, by issuing 18,750,000 common shares of the Company to Skeena based on a deemed price per share equal to the twenty-trading day VWAP of the Company’s shares. The shares issued will bear a four-month regulatory hold period.

Shawn Khunkhun states, “We are excited to have met all outstanding obligations towards the 100% interest of the High-grade Silver Porter property. Furthermore, we are pleased to welcome Skeena as our largest shareholder. StrikePoint is now well-positioned for 2020 with our two flagship precious metals properties in the prolific Golden Triangle, Willoughby and Porter. “

The Porter – Silverado Mines

The Porter Project contains two shears-hosted silver-rich vein systems: the Silverado and Prosperity-Porter Idaho. The showings are 2km apart, located on opposite sides of Mt. Rainey, overlooking the town of Stewart. The Project is located strategically at the head of the Portland Canal, a deep-water port with year-round, ice-free access.
The initial discovery of silver mineralization on Mt. Rainey occurred in the early 1900s. Prosperity-Porter Idaho veins were the focus of the initial work. The mineralization is hosted in six parallel dipping shear zones, traced 200 meters on surface and one kilometre down dip with widths between 2 and 13 meters. The vein system was mined between 1929 and 1931 and produced 27,123 tonnes with recovered grades of 2,542 g/t silver (73.8 oz/ton) and 1 g/t gold (yielding approximately 2.2 million ounces of silver). The ore was shipped to the port at Stewart via aerial tramway.

Historic Silver Resource

The Porter Project contains an historical Indicated Resource of 394,700 tonnes grading 868 g/t silver, 3.37% lead and 1.41% zinc (435,000 tons @ 25.2 oz/ton silver or a contained 11 million ounces) and an Inferred Resource of 88,900 tonnes grading 595 g/t silver (97,900 tons @ 17.3 oz/ton silver or a contained 1.7 million ounces)

Estimates of mineral resources are dated March 10, 2008, and were prepared by independent consulting geologist N.C. Carter, Ph.D., P. Eng. for Raimount Energy Inc. and re-stated for Mount Rainey Silver Inc. on May 15, 2012, according to CIM Standards on Mineral Resources and Reserves. The previous estimates made use of an extensive database detailing both underground sampling programs as well as surface and underground diamond drilling. The reader is cautioned that the Qualified Person on behalf of StrikePoint has not done sufficient work to verify either the underlying sampling data or the calculation methodology to consider this to be a current resource, and as a result, StrikePoint is treating this mineral resource as a Historical Estimate, as defined in National Instrument 43-101. StrikePoint has not yet determined what work needs to be completed to upgrade or verify the Historical Estimate.

The completion of the Transaction is subject to TSX Venture Exchange approval

Qualified Person

The Qualified Person for this news release for the purposes of National Instrument 43-101 is Marilyne Lacasse, P. Geo, Project Manager. She has read and approved the scientific and technical information that forms the basis for the disclosure contained in this news release.

About StrikePoint

StrikePoint Gold is a gold exploration company focused on building high-grade precious metals resources in Canada. The company controls two advanced stage exploration assets in BC’s Golden Triangle. The past-producing high-grade silver Porter Project and the high-grade gold property Willoughby, which is adjacent to Red Mountain. The company also owns a portfolio of gold properties in the Yukon.

ON BEHALF OF THE BOARD OF DIRECTORS OF
STRIKEPOINT GOLD INC.

“Shawn Khunkhun”
Shawn Khunkhun
Chief Executive Officer and Director
Statements in this release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed under the heading “Risk Factors” and elsewhere in the Company’s filings with Canadian securities regulators. Such information contained herein represents management’s best judgment as of the date hereof based on information currently available. The Company does not assume any obligation to update any forward-looking statements, save and except as may be required by applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For more information, please contact
StrikePoint Gold Inc.
Shawn Khunkhun, CEO and Director
T: (604) 602-1440
E: sk@strikepointgold.com
W: www.strikepointgold.com

STRIKEPOINT INTERSECTS 72 G/T GOLD AND 55 G/T SILVER OVER 1.33 METERS AT WILLOUGHBY

By | 2019, News

Vancouver, British Columbia — December 3 2019 StrikePoint Gold Inc. (“StrikePoint” or the “Company”) (SKP:TSX.V)(STKXF:OTCQB) is pleased to announce the final drill results from the 2019 surface drilling program from the 100%-owned Willoughby property located near Stewart in British Columbia’s prolific Golden Triangle. The Company received final assays from the six remaining holes, three from the North Zone, and three from the Wilby Zones.  Assays from the previous six drill holes from the 2019 program were previously announced (See Strikepoint News Release, September 16 & October 10, 2019).

Highlights from the final assays results include:

  • W19-097: 5.29 g/t Au and 34.93 g/t Ag over 4.15 meters
  • W19-097: 22.30 g/t Au and 347 g/t Ag over 1.27 meters
  • W19-097: 72.2 g/t Au and 55 g/t Ag over 1.33 meters
  • W19-097: 4.91 g/t Au and 27.79 g/t Ag over 5.0 meters
  • W19-098: 2.45 g/t Au and 28.76 g/t Ag over 6.37 meters
  • W19-100: 3.26 g/t Au and 2.47 g/t Ag over 7.02 meters
  • W19-100: 2.16 g/t Au and 26.49 g/t Ag over 12.52 meters

 

StrikePoint CEO, Shawn Khunkhun, states, Our strong technical team, led by Project Manager Marilyne Lacasse had a very successful drill campaign at the high-grade Willoughby Property. In an incident-free, on time and on budget program, the team successfully met all objectives of the program. StrikePoint has validated the high-grade nature of gold mineralization, extended the known zones by over 100 meters, developed a strong geological model, and have encountered new high-grade surface mineralization on the margins of newly exposed ice-free areas. The company now plans to analyze all new information collected through drilling, mapping, and surface and channel samples with the historical work, which includes a database of over 119 diamond drill holes and over 1,300 surface samples in preparation for a drill program in 2020 ”

Phase I: North Zone Drilling

Drill hole W19-097 tested historical grade continuity and stacked mineralized zones. High-grade intervals of 72.2 g/t gold and 55 g/t silver over 1.33 meters, 22.30 g/t gold and 347 g/t silver over 1.27 meters, and 17.90 g/t gold and 22 g/t silver over 1.0 meter within 5.29 g/t Au and 34.93 g/t Ag over 4.15 meters infilled the historical intercepts and provided additional structural understanding from the oriented measurements collected during core logging.  Robust intervals of 4.91 g/t Gold and 27.79 g/t Silver over 5.0 Meters and 3.72 g/t Gold and 44.38 g/t Silver over 2.33 Meters highlighted new high-grade mineralized zones, 10 and 40 meters down-dip respectively from historical intercepts at the North Zone.

The North zone mineralized trend consists of repetitive stacked lenses of calcite-pyrite to pyrite-sphalerite-galena veins intersecting with a prominent north striking shallowly east-dipping fault zones with milled sulfides and an east striking moderately north dipping oxidized fault set with oblique reverse-sinistral kinematics within an early-Jurassic biotite-phyric diorite thought to be part of the ‘Goldslide Suite’ intrusive suite that hosts the adjacent Red Mountain Deposit. The intersection of the two fault structures may localize high-grade gold mineralization in areas.

Table 1: Phase I, North Zone Assay Results, December 3, 2019 (1)

 

Hole-ID Zone Azimuth/Dip From (meters) To (meters) Length (meters) Gold (g/t) Silver (g/t)
W19-095 North 350/-45 124.20 124.85 0.65 1.91 7
W19-096 North 327/-60 60.00 61.50 1.50 1.52 18.00
W19-097 North 130/-76 19.80 20.76 0.96 2.52 35.52
30.29 34.33 4.04 1.30 6.75
61.35 65.50 4.15 5.29 34.93
Incl. 64.50 65.50 1.00 17.90 22.00
  78.99 80.26 1.27 22.30 347.00
  91.17 92.50 1.33 72.20 55.00
  103.14 108.14 5.00 4.91 27.79
  145.65 147.98 2.33 3.72 44.38

(1) True thickness estimated to be between 70 and 100% of drill intervals.

Phase II: Wilby Zone Drilling

Drill holes W19-098, W19-100, and W19-101 stepped out 20 meters from the Northern Deep lense and confirmed historical grades. Significant intervals include 2.45 g/t Gold and 28.76 g/t Silver over 6.37 Meters, 3.26 g/t Gold and 2.47 g/t Silver over 7.02 Meters, 2.16 g/t Gold and 26.49 g/t Silver over 12.52 Meters, and 2.02 g/t Gold and 3.33 g/t Silver over 3.0 Meters. The results show broader lower grade intercepts than the North zone and are interpreted to be part of the same system. The Wilby zone is located south of and 400 meters lower in elevation than the North zone. Mineralization at Wilby consists primarily of replacement-style massive pyrrhotite-pyrite-sphalerite and minor galena and massive calcite-pyrrhotite-pyrite-sphalerite-galena veins hosted within the Lower Jurassic sediment package with distal interaction of biotite-phyric diorite sills.

Hole-ID Zone Azimuth/Dip From (meters) To (meters) Length (meters) Gold (g/t) Silver (g/t)
W19-098 Wilby 328/-50 95.50 98.50 3.00 1.66 4.00
122.49 128.00 5.51 2.62 0.01
158.00 161.00 3.00 1.62 2.40
167.93 174.30 6.37 2.45 28.76
Incl. 173.19 174.30 1.11 9.38 160
W19-100 Wilby 328/-45 121.19 127.00 5.81 1.33 0.00
145.00 147.00 2.00 3.15 2.90
161.60 168.62 7.02 3.26 2.47
Incl. 161.60 164.93 3.33 4.92 1.48
  170.62 183.14 12.52 2.16 26.49
W19-101 Wilby 69.50 72.50 3.00 2.02 3.33
142.50 145.50 3.00 2.39 16.33

(1) True thickness estimated to be between 70 and 100% of drill intervals.

Willoughby project

Willoughby is located along the eastern margin of the Cambria Icefield, approximately seven kilometers east of the advanced-staged Red Mountain Deposit that was recently acquired by Ascot Resources from IDM Mining. The property is underlain by Upper Triassic Stuhini rocks and Lower Jurassic Hazelton volcano-sedimentary rocks that have been intruded by an early Jurassic-aged hornblende-feldspar porphyry, similar to and potentially comagmatic with the Goldslide Intrusive suite at Red Mountain. Intrusive-related mineralized zones consist of primary pyrite with lesser pyrrhotite, sphalerite, galena, chalcopyrite, native gold. Eight gold and silver mineralized zones have been identified to-date over a one-kilometer strike-length mineralization trend.

QA/QC

Samples for the 2019 exploration program were all drill core labeled, sawn in half, with one-half placed in sealed bags and shipped with a chain of custody controls to the laboratory. The remaining drill core is subsequently securely stored in Stewart, BC. The company implements a rigorous Quality Control/Quality Assurance program, including the insertion of standards, blanks, and duplicate at regular intervals in the sample stream to monitor laboratory performance.

Drill core samples are submitted to SGS Canada Inc. facility in Burnaby, British Columbia, for preparation and analysis. The SGS facility is accredited to the ISO/IEC 17025 standard for gold assays, and all analytical methods include quality control materials at set frequencies with established data acceptance criteria. The entire sample is crushed, split into a representative sub-sample using a riffle splitter, and subsequently, 250g is pulverized. Analysis for gold is by 30g fire assay fusion with atomic absorption (AAS) finish with a lower limit of 0.005 ppm and an upper limit of 10 ppm. Samples with gold assays greater than 10ppm are re-analyzed using a 30g fire assay fusion with a gravimetric finish. Analysis for silver is by 30g fire assay fusion with gravimetric finish with a lower limit of 2ppm and upper limit of 100ppm. Samples with silver assays greater than 100ppm are re-analyzed using a gravimetric silver concentrate method. All samples are also analyzed using a 33 multi-elemental geochemical package by 4-acid digestion (ICP-AES).

Qualified Person

The Qualified Person for this news release for the purposes of National Instrument 43-101 is Marilyne Lacasse, P. Geo, Project Manager. She has read and approved the scientific and technical information that forms the basis for the disclosure contained in this news release.

About StrikePoint

StrikePoint Gold is a gold exploration company focused on building high-grade precious metals resources in Canada. The company controls two advanced stage exploration assets in BC’s Golden Triangle. The past-producing high-grade silver Porter Project and the high-grade gold property Willoughby, which is adjacent to Red Mountain. The company also owns a portfolio of gold properties in the Yukon.

ON BEHALF OF THE BOARD OF DIRECTORS OF
STRIKEPOINT GOLD INC.

“Shawn Khunkhun”

Shawn Khunkhun
Chief Executive Officer and Director

Statements in this release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed under the heading “Risk Factors” and elsewhere in the Company’s filings with Canadian securities regulators. Such information contained herein represents management’s best judgment as of the date hereof based on information currently available. The Company does not assume any obligation to update any forward-looking statements, save and except as may be required by applicable securities laws.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

 

For more information, please contact
StrikePoint Gold Inc.
Shawn Khunkhun, CEO and Director
T: (604) 602-1440
E: sk@strikepointgold.com
W: www.strikepointgold.com

 

 

 

STRIKEPOINT REPORTS SURFACE ASSAYS UP TO 67.3 G/T GOLD AND 281 G/T AG AT THE WILLOUGHBY PROPERTY

By | 2019

Vancouver, British Columbia — November 7th, 2019 StrikePoint Gold Inc. (“StrikePoint” or the “Company”) (SKP:TSX.V) (STKXF:OTCQB) is pleased to announce surface results from its mapping and sampling program at its 100%-owned Willoughby property, located east of Stewart in British Columbia’s prolific Golden Triangle.

StrikePoint CEO, Shawn Khunkhun, states “We are extremely encouraged by the high-grade nature of samples received from newly exposed areas that are right on the margins of melting ice, demonstrating the vast potential of the Willoughby property. We eagerly await the pending 40 meters of channel samples and 6 drill hole assays.”

2019 Willoughby Sampling

The company received assay results from 86 grab samples from the 2019 surface program. Assay results range from trace to 67.3 g/t Au and trace to 281 g/t Ag.  A total of 18 samples assayed over 1.0 g/t Au.

Samples from the Willoughby nunataq that comprise the North-North, North, Edge, Wilkie, Wilby, Lower & Upper Icefall zones range from 0.07 to 67.3 g/t Au and 2 to 281.00 g/t Ag. The thirty-two samples were collected along installed via Ferrata routes and areas of ice recession, notable area of mineralization around the Wilkie zone, returned 67.3 g/t Au and 164 g/t Ag grab sample.

Forty of these samples are from the Willow zone area, where extensive ice recession occurred to the North. A sampling of the newly exposed ground uncovered massive to semi-massive pyrite-pyrrhotite-galena in veins and replacement-style mineralization. Samples range from 0.07 to 16.5 g/t Au and 2 to 136 g/t Ag.

Forty meters of channel sample assays are pending, collected further along and across mineralization strike in the northern Willow area.

Willoughby project

The project is located  along the eastern margin of the Cambria Icefield, approximately 7 kilometers east of the advanced-staged Red Mountain Gold Deposit that was recently acquired by Ascot Resources from IDM Mining. Upper Triassic Stuhini rocks and Lower Jurassic Hazelton volcano-sedimentary rocks underlay the property, subsequently intruded by an early Jurassic-aged hornblende-feldspar porphyry, like and potentially comagmatic with the Goldslide Intrusive suite at Red Mountain. Intrusive-related mineralized zones consist of primary pyrite with lesser pyrrhotite, sphalerite, galena, chalcopyrite, native gold. Eight gold and silver mineralized zones have been identified to-date over a one-kilometer strike-length mineralization trend.

QA/QC

Surface samples for the 2019 exploration program were labeled and shipped with a chain of custody controls to the laboratory. The company implements a rigorous Quality Control/Quality Assurance program, including the insertion of Standards, Blanks, and duplicate at regular intervals in the sample stream to monitor laboratory performance.

Drill core samples are submitted to SGS Canada Inc. facility in Burnaby, British Columbia, for preparation and analysis. The SGS facility is accredited to the ISO/IEC 17025 standard for gold assays, and all analytical methods include quality control materials at set frequencies with established data acceptance criteria. The entire sample is crushed, split into representative sub-sample using a riffle splitter and subsequently, 250g is pulverized. Analysis for gold is by 30g fire assay fusion with atomic absorption (AAS) finish with a lower limit of 0.005 ppm and an upper limit of 10 ppm. Samples with gold assays greater than 10ppm are re-analyzed using a 30g fire assay fusion with a gravimetric finish. Analysis for silver is by 30g fire assay fusion with gravimetric finish with a lower limit of 2ppm and upper limit of 100ppm. Samples with silver assays higher than 100ppm are re-analyzed using a gravimetric silver concentrate method. All samples are also analyzed using a 33 multi-elemental geochemical package by 4-acid digestion (ICP-AES).

 

Qualified Person

The Qualified Person for this news release for National Instrument 43-101 is Marilyne Lacasse, P. Geo, Project Manager. She has read and approved the scientific and technical information that forms the basis for the disclosure contained in this news release.

About StrikePoint

StrikePoint Gold is a gold exploration company focused on building high-grade precious metals resources in Canada. The company controls two advanced stage exploration assets in BC’s Golden Triangle. The past-producing high-grade silver Porter Project and the high-grade gold property Willoughby, which is adjacent to Red Mountain. The company also owns a portfolio of gold properties in the Yukon.

ON BEHALF OF THE BOARD OF DIRECTORS OF
STRIKEPOINT GOLD INC.

“Shawn Khunkhun”

Shawn Khunkhun
Chief Executive Officer and Director

Statements in this release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed under the heading “Risk Factors” and elsewhere in the Company’s filings with Canadian securities regulators. Such information contained herein represents management’s best judgment as of the date hereof based on information currently available. The Company does not assume any obligation to update any forward-looking statements, save and except as may be required by applicable securities laws.

Neither the TSX Venture Exchange nor it’s Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

 

For more information, please contact
StrikePoint Gold Inc.
Shawn Khunkhun, CEO and Director
T: (604) 602-1440
E: sk@strikepointgold.com
W: www.strikepointgold.com

STRIKEPOINT INTERSECTS 102 G/T GOLD AND 356 G/T SILVER OVER 1.0 METERS FROM A 100 METER STEP-OUT FROM THE NORTH ZONE, WILLOUGHBY PROPERTY

By | 2019

Vancouver, British Columbia — October 10th, 2019 StrikePoint Gold Inc. (“StrikePoint” or the “Company”) (SKP:TSX.V) (STKXF:OTCQB) is pleased to announce drill results from its surface drilling program at the North Zone at their 100%-owned Willoughby property, located east of Stewart in British Columbia’s prolific Golden Triangle.  Results were received from additional four holes from the North Zone, with assays for another six holes currently pending from the North and Wilby Zones. Additionally, assay results are still pending from a Property-wide prospecting and channel sampling.  Assays from the first two drill holes from the 2019 Program were previously announced (See Strikepoint News Release, September 16, 2019).

StrikePoint CEO, Shawn Khunkhun, states “This large step-out from historic high-grade intercepts has significantly expanded the extent of gold-silver mineralization at our Willoughby Property, and may represent a new mineralized zone.  We eagerly anticipate additional results over the next few weeks from our 2019 drilling and surface exploration program.”

North Zone Drilling

Drill hole W19-094, tested a new area of exposed mineralization that was covered with glacial ice during exploration programs in the mid 1990’s. A high-grade interval of 102 g/t Gold and 356 g/t Silver over 1.0 Meters within 26.28 g/t Au and 95.00 g/t Ag over 4.0 meters.  It is located northeast of the North zone, observed during the 2019 field mapping and drone survey program. This potentially new mineralized structure has a similar orientation as the North zone, located over 100 meters to the southwest. The high-grade mineralization occurs within a massive galena-pyrite-sphalerite-chalcopyrite vein with visible gold.  Final assays are currently pending for holes W19-093,95 and 97 oriented to the east and west respectively from the same drill setup.

The mineralized trend of the North Zone consists of north to northeast striking, moderately south dipping pyrite-sphalerite-galena veins intersecting with north striking shallowly east dipping fault zones with milled pyrite within an early-Jurassic biotite-phyric diorite thought to be part of the ‘Goldslide Suite’ intrusive suite that hosts the adjacent Red Mountain Deposit. The intersection of these two structures may localise high-grade gold mineralisation.

Table 1: North Zone Assay Results, October 11 2019 (1)

 

Willoughby project

The project occurs along the eastern margin of the Cambria Icefield, approximately 7 kilometres east of the advanced-staged Red Mountain Deposit that was recently acquired by Ascot Resources from IDM Mining. The property is underlain by Upper Triassic Stuhini rocks and Lower Jurassic Hazelton volcanic and sedimentary rocks that have been intruded by an early Jurassic-aged hornblende-feldspar porphyry, similar to and potentially comagmatic with the Goldslide Intrusive suite at Red Mountain. Intrusive-related mineralized zones consist of primarily pyrite with lesser pyrrhotite, sphalerite, galena, chalcopyrite, native gold. Eight gold and silver mineralized zones have been identified to-date over a one-kilometer strike-length mineralization trend.

QA/QC

Samples for the 2019 exploration program were all drill core were labelled, sawn in-half, with one-half placed in sealed bags and shipped with chain of custody controls to the laboratory. The remaining drill core is subsequently securely stored in Stewart, BC. The company implements a rigorous Quality Control/Quality Assurance program, including the insertion of Standards, Blanks and duplicate at regular intervals in the sample stream to monitor laboratory performance.

Drill core samples are submitted to SGS Canada Inc. facility in Burnaby, British Columbia for preparation and analysis. The SGS facility is accredited to the ISO/IEC 17025 standard for gold assays and all analytical methods include quality control materials at set frequencies with established data acceptance criteria. The entire sample is crushed, split into representative sub-sample using a riffle splitter and subsequently 250g is pulverized. Analysis for gold is by 30g fire assay fusion with atomic absorption (AAS) finish with a lower limit of 0.005 ppm and upper limit of 10 ppm. Samples with gold assays greater than 10ppm are re-analyzed using a 30g fire assay fusion with gravimetric finish. Analysis for silver is by 30g fire assay fusion with gravimetric finish with a lower limit of 2ppm and upper limit of 100ppm. Samples with silver assays greater than 100ppm are re-analyzed using a gravimetric silver concentrate method. All samples are also analyzed using a 33 multi-elemental geochemical package by a 4-acid digestion (ICP-AES).

 

Qualified Person

The Qualified Person for this news release for the purposes of National Instrument 43-101 is Marilyne Lacasse, P. Geo, Project Manager. She has read and approved the scientific and technical information that forms the basis for the disclosure contained in this news release.

About StrikePoint

StrikePoint Gold is a gold exploration company focused on building high grade precious metals resources in Canada. The company controls two advanced stage exploration assets in BC’s Golden Triangle. The past producing high grade silver Porter Project and the high-grade gold property Willoughby, which is adjacent to Red Mountain. The company also owns portfolio of gold properties in the Yukon.

ON BEHALF OF THE BOARD OF DIRECTORS OF
STRIKEPOINT GOLD INC.

“Shawn Khunkhun”

Shawn Khunkhun
Chief Executive Officer and Director

Statements in this release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed under the heading “Risk Factors” and elsewhere in the Company’s filings with Canadian securities regulators. Such information contained herein represents management’s best judgment as of the date here of based on information currently available. The Company does not assume any obligation to update any forward-looking statements, save and except as may be required by applicable securities laws.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

 

For more information, please contact:
StrikePoint Gold Inc.
Shawn Khunkhun, CEO and Director
T: (604) 602-1440
E: sk@strikepointgold.com
W: www.strikepointgold.com

STRIKEPOINT RECEIVES ASSAYS FROM INITIAL TWO HOLES AT WILLOUGHBY, INCLUDING: 3.87 G/T AU OVER 11.7 METERS AT WILBY ZONE

By | 2019, News

Vancouver, British Columbia — September 16, 2019 StrikePoint Gold Inc. (“StrikePoint” or the “Company”) (SKP:TSX.V)(STKXF:OTCQB) is pleased to announce the first two drill holes from the 2019 program at the 100%-owned Willoughby gold-silver property located near Stewart BC in British Columbia’s prolific Golden Triangle. The Company has received final assay results from two of twelve core holes, from both the North and Wilby zones.   Also, the Company is waiting for surface sample assays from its property-wide prospecting and channel sampling program.

“Our technical team’s excellent geological work has confirmed multiple-styles of gold-silver mineralization at Willoughby related to 1) lithological contacts, 2) vein and shear structures and 3) carbonate replacement,” said Shawn Khunkhun, StrikePoint’s President and CEO. “In particular, oriented core measurements have identified key syn and post-mineral faults, and most importantly, large folds.  We eagerly await the remainder of our drill results from both the Wilby and North Zones, which will hopefully confirm and expand historic high-grade intercepts.”

Highlights from the initial two holes include:

  • W19-090 intersected 4.50 meters averaging 3.96 g/t au and 74.55 g/t Ag at North Zone
  • W19-099 intersected 11.70 meters averaging 3.87 g/t au and 3.52 g/t Ag in upper lens at Wilby Zone
  • W19-099 intersected 16.55 meters averaging 1.66 g/t Au and 32.10 g/t Ag in lower lens at Wilby Zone

 

Hole-ID Zone Azimuth/Dip From (meters) To (meters) Length (meters) Gold (g/t) Silver (g/t) Copper (%)
W19-090 North 73/-68 46.08 49.00 2.92 2.20 8.16
75.00 79.50 4.50 3.96 74.55
Incl. 75.96 76.49 0.53 13.80 297.00
W19-099 Wilby 328/-58 120.55 132.25 11.70 3.87 3.52 0.05
Incl. 126.3 126.8 0.50 20.90 5.00
144.30 147.00 2.70 3.65 10.56
146.00 162.55 16.55 1.66 32.10 0.08
Incl. 146.50 147.00 0.50 9.15 37.00
Incl. 154.25 155.75 1.50 2.96 37.67
Incl. 154.25 162.55 8.30 1.80 53.01 0.12
Incl. 159.80 162.55 2.75 2.29 96.45

 

The mineralized trend of the North Zone consists of east striking, moderately south dipping pyrite-sphalerite-galena veins intersecting with north striking shallowly east dipping fault zones with milled pyrite within an early-Jurassic biotite-phyric diorite thought to be part of the ‘Goldslide Suite’ intrusive suite that hosts the adjacent Red Mountain Deposit. The intersection of these two structures may localise high-grade gold mineralisation. The first hole drilled this year is consistent with mineralisation reported from historic drilling. Notably this hole highlighted a mineralized area unsampled from previous drilling and demonstrates potential for a larger zone of mineralisation.

Table 1: Selected Exploration Drill Results, September 2019 (1)

Hole-ID Zone From (meters) To (meters) Length (meters) Gold (g/t) Silver (g/t)
W19-090 North 46.08 49.00 2.92 2.20 8.16
75.00 79.50 4.50 3.96 74.55
 Incl. 75.96 76.49 0.53 13.80 297.00

(1) True thickness to be determined.

Willoughby project

The project occurs along the eastern margin of the Cambria Icefield, approximately 7 kilometres east of the advanced-staged Red Mountain Deposit that was recently acquired by Ascot Resources from IDM Mining. The property is underlain by Upper Triassic Stuhini rocks and Lower Jurassic Hazelton volcanic and sedimentary rocks that have been intruded by an early Jurassic-aged hornblende-feldspar porphyry, similar to and potentially comagmatic with the Goldslide Intrusive suite at Red Mountain. Intrusive-related mineralized zones consist of primarily pyrite with lesser pyrrhotite, sphalerite, galena, chalcopyrite, native gold. Eight gold and silver mineralized zones have been identified to-date over a one-kilometer strike-length mineralization trend.

QA/QC

Samples for the 2019 exploration program were all drill core were labelled, sawn in-half, with one-half placed in sealed bags and shipped with chain of custody controls to the laboratory. The remaining drill core is subsequently securely stored in Stewart, BC. The company implements a rigorous Quality Control/Quality Assurance program, including the insertion of Standards, Blanks and duplicate at regular intervals in the sample stream to monitor laboratory performance.

Drill core samples are submitted to SGS Canada Inc. facility in Burnaby, British Columbia for preparation and analysis. The SGS facility is accredited to the ISO/IEC 17025 standard for gold assays and all analytical methods include quality control materials at set frequencies with established data acceptance criteria. The entire sample is crushed, split into representative sub-sample using a riffle splitter and subsequently 250g is pulverized. Analysis for gold is by 30g fire assay fusion with atomic absorption (AAS) finish with a lower limit of 0.005 ppm and upper limit of 10 ppm. Samples with gold assays greater than 10ppm are re-analyzed using a 30g fire assay fusion with gravimetric finish. Analysis for silver is by 30g fire assay fusion with gravimetric finish with a lower limit of 2ppm and upper limit of 100ppm. Samples with silver assays greater than 100ppm are re-analyzed using a gravimetric silver concentrate method. All samples are also analyzed using a 33 multi-elemental geochemical package by a 4-acid digestion (ICP-AES).

Qualified Person

The Qualified Person for this news release for the purposes of National Instrument 43-101 is Marilyne Lacasse, P. Geo, Project Manager. She has read and approved the scientific and technical information that forms the basis for the disclosure contained in this news release.

About StrikePoint

StrikePoint Gold is a gold exploration company focused on building high grade precious metals resources in Canada. The company controls two advanced stage exploration assets in BC’s Golden Triangle. The past producing high grade silver Porter Project and the high-grade gold property Willoughby, which is adjacent to Red Mountain. The company also owns portfolio of gold properties in the Yukon.

ON BEHALF OF THE BOARD OF DIRECTORS OF
STRIKEPOINT GOLD INC.

“Shawn Khunkhun”

Shawn Khunkhun
Chief Executive Officer and Director

Statements in this release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed under the heading “Risk Factors” and elsewhere in the Company’s filings with Canadian securities regulators. Such information contained herein represents management’s best judgment as of the date here of based on information currently available. The Company does not assume any obligation to update any forward-looking statements, save and except as may be required by applicable securities laws.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

 

For more information, please contact:
StrikePoint Gold Inc.
Shawn Khunkhun, CEO and Director
T: (604) 602-1440
E: sk@strikepointgold.com
W: www.strikepointgold.com

 

 

STRIKEPOINT GOLDS PHASE 2 DRILLLING PROGRAM UNDERWAY AT THE HIGH-GRADE, WILLOUGHBY GOLD PROPERTY

By | 2019, News

Vancouver, British Columbia — August 13 2019 StrikePoint Gold Inc. (“StrikePoint” or the “Company”) (SKP:TSX.V)(STKXF:OTCQB) is pleased to announce commencement of its Phase II drilling program of 1,000 metres at the Wilby zone on their 100%-owned Willoughby property located near Stewart BC in British Columbia’s Golden Triangle, seven kilometres east of Ascot Resource’s advanced-stage Red Mountain Gold Project.   The company’s Phase I program is complete, with eight holes that targeted the North Zone, located 400m northwest of the Wilby Zone.

The objective of the Phase II program is to expand and test the 1450 and Northern deep lenses at the Wilby zone, confirming and stepping out from multiple wide, high-grade historic intercepts. Gold and silver mineralization at Willoughby are hosted within Jurassic volcanic and sedimentary rocks, as well as ‘Goldslide Suite’ intrusive phases, similar to the adjacent Red Mountain Deposit and other significant deposits in Northwestern British Columbia.

Highlights of historical intercepts from Wilby include (drilled lengths, true width estimated to be 60 to 90% of interval):

  • 89-04: 7.06 g/t Au and 42.80 g/t Ag over 11.50 meters
  • 94-20: 4.40 g/t Au and 17.97 g/t Ag over 6.0 meters
  • 95-51: 20.45 g/t Au and 42.84 g/t Ag over 6.80 meters
  • 95-53: 12.66 g/t Au and 59.43 g/t Ag over 12.0 meters
  • 96-71: 10.54 g/t Au and 5.88 g/t Ag over 5.10 meters
  • 96-88: 7.62 g/t Au and 1.43 g/t Ag over 11.70 meters

StrikePoint CEO, Shawn Khunkhun, states “This is the first drill program to be carried out at the Wilby Zone since 1996. Historic drill holes were limited to near-outcrop, short holes.  StrikePoint’s goal is to demonstrate that the mineralised system is more extensive than previously indicated.  This part of Northern British Columbia has an enviable endowment of high-grade gold and silver mines and deposits.  Our aim is to build a resource that moves this project towards economic viability. “

Willoughby project

The project occurs along the eastern margin of the Cambria Icefield, approximately seven kilometres east of the advanced-staged Red Mountain Deposit that was recently acquired by Ascot Resources from IDM Mining. The property is underlain by Upper Triassic Stuhini rocks and Lower Jurassic Hazelton volcanic and sedimentary rocks that have been intruded by an early Jurassic-aged hornblende-feldspar porphyry, similar to and potentially comagmatic with the Goldslide Intrusive suite at Red Mountain. Intrusive-related mineralized zones consist of primarily pyrite with lesser pyrrhotite, sphalerite, galena, chalcopyrite, native gold and. Eight gold and silver mineralized zones have been identified to-date over a one-kilometer strike-length mineralization trend.

Qualified Person

Marilyne Lacasse, P. Geo., is the Qualified Person as defined by National Instrument 43-101 who prepared and approved reviewed the technical data in this news release.

About StrikePoint

StrikePoint Gold is a gold and silver exploration company focused on building high grade precious metals resources in Canada. The company controls two advanced stage exploration assets in BC’s Golden Triangle. The past producing high grade silver Porter Project and the high-grade gold property Willoughby, which is adjacent to Red Mountain. The company also owns portfolio of gold properties in the Yukon.

ON BEHALF OF THE BOARD OF DIRECTORS OF
STRIKEPOINT GOLD INC.

“Shawn Khunkhun”

Shawn Khunkhun
Chief Executive Officer and Director

Statements in this release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed under the heading “Risk Factors” and elsewhere in the Company’s filings with Canadian securities regulators. Such information contained herein represents management’s best judgment as of the date here of based on information currently available. The Company does not assume any obligation to update any forward-looking statements, save and except as may be required by applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

 

For more information, please contact:
StrikePoint Gold Inc.
Shawn Khunkhun, CEO and Director
T: (604) 602-1440
E: sk@strikepointgold.com
W: www.strikepointgold.com

 

 

STRIKEPOINT GOLD EXPANDS SURFACE EXPLORATION PROGRAM INCLUDING: TRENCHING AND CHANNEL SAMPLING

By | 2019, News

Vancouver, British Columbia — Aug 7, 2019 StrikePoint Gold Inc. (“StrikePoint” or the “Company”) (SKP:TSX.V)(STKXF:OTCQB) announces that due to encouraging new exposures of sulphide mineralization and prospective alteration and intrusive rocks, that and expanded surface sample program of hand-trenching and channel sampling has commenced at its 100%-owned Willoughby gold Property (“Property’”). Significant melting of alpine glaciers has occurred since the last significant exploration program over 20 years ago, particularly on the north and west sides of the Property. Willoughby is located near Stewart, BC in British Columbia’s prolific Golden Triangle, seven kilometres east of Ascot Resource’s advanced-stage Red Mountain Gold Project.

StrikePoint is currently drilling the Property; at the time of this release, six holes for 800m completed at the high-grade North Zone. 194 core samples from the initial two drill holes have been shipped for ‘rush’ analysis, as well an initial batch of 47 surface samples.

“New exposures of outcrop with strong pyrite and sphalerite mineralization, occurring as disseminated, stock, replacement and massive sulphide pods and veins is very encouraging to our technical team,” said StrikePoint CEO, Shawn Khunkhun. “The presence of copper and zinc sulphides correlates with high-grade precious metal values at the North Zone where we are currently drilling. Expanding our surface exploration program should allow for a quick turnaround of assays prior to the end of the field season in the autumn. These areas are located in much gentler terrain than the steep topography where we are currently drilling.”

Willoughby Project

Gold and silver mineralization at Willoughby are hosted within Jurassic volcanic and sedimentary rocks, associated with a ‘Goldslide Suite’ intrusive phase, similar to the adjacent Red Mountain Deposit.

The Project occurs along the eastern margin of the Cambria Icefield, approximately seven kilometres east of the advanced-staged Red Mountain Deposit that was recently acquired by Ascot Resources from IDM Mining and 20km northeast of StrikePoint’s Porter Silver Property. The Willoughby Property is underlain by Upper Triassic Stuhini rocks and Lower Jurassic Hazelton volcanic and sedimentary rocks that have been intruded by an early Jurassic-aged hornblende-feldspar porphyry, similar to and potentially comagmatic with the Goldslide Intrusive suite at Red Mountain. Intrusive-related mineralized zones consist of primarily pyrite with lesser pyrrhotite, sphalerite, galena, chalcopyrite, native gold and. Eight gold and silver mineralized zones have been identified to-date over a one-kilometer strike-length mineralization trend.

QA/QC and Qualified Person

Samples for the 2019 program are collected by experienced geologists and technicians, placed in sealed bags and shipped to SGS Labs in Burnaby, BC for sample preparation, gold and multi-element ICP analysis. A Quality Control/Quality Assurance program including the insertion of Standards and Blanks has been implemented. The 2019 Exploration Program is performed under the supervision of Marilyne Lacasse, P.Geo, Qualified Person as defined by National Instrument 43-101. Ms. Lacasse has prepared and approved reviewed the technical data in this news release.

About StrikePoint

StrikePoint Gold is a gold exploration company focused on building high grade precious metals resources in Canada. The company controls two advanced stage exploration assets in BC’s Golden Triangle. The past producing high grade silver Porter Project and the high-grade gold property Willoughby, which is adjacent to Red Mountain. The company also owns portfolio of gold properties in the Yukon.

ON BEHALF OF THE BOARD OF DIRECTORS OF

STRIKEPOINT GOLD INC.

“Shawn Khunkhun”

Shawn Khunkhun

Chief Executive Officer and Director

Statements in this release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed under the heading “Risk Factors” and elsewhere in the Company’s filings with Canadian securities regulators. Such information contained herein represents management’s best judgment as of the date here of based on information currently available. The Company does not assume any obligation to update any forward-looking statements, save and except as may be required by applicable securities laws.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

 

For more information, please contact:

StrikePoint Gold Inc.

Shawn Khunkhun, CEO and Director

T: (604) 602-1440

E: sk@strikepointgold.com

W: www.strikepointgold.com

 

 

 

STRIKEPOINT GOLD INC. ANNOUNCES COMMENCMENT OF DRILLLING PROGRAM AT THE NORTH ZONE FOR THE HIGH-GRADE WILLOUGHBY GOLD PROPERTY

By | 2019, News

Vancouver, British Columbia — July 31 2019 StrikePoint Gold Inc. (“StrikePoint” or the “Company”) (SKP:TSX.V)(STKXF:OTCQB) is pleased to announce  the commencement of its Phase I drilling program of 1,000 metres at the North zone on their 100%-owned Willoughby property located near Stewart BC in British Columbia’s prolific Golden Triangle, seven kilometres east of Ascot Resource’s advanced-stage Red Mountain Gold Project.

The objective of the Phase I program is to expand and test the North Zone, following up and stepping out from multiple high-grade historic intercepts. Previous explorers, which included limited underground drifting and drilling was locally focused, dominantly within only 50 meters of surface, with holes oriented towards the east.  New mineralized exposure from melting alpine glaciers, coupled with an improved understanding of the structural geological setting has helped refine the drill plan, including westerly oriented drill holes.

Gold and silver mineralization at Willoughby are hosted within Jurassic volcanic and sedimentary rocks, associated with a ‘Goldslide Suite’ intrusive phase, similar to the adjacent Red Mountain Deposit.

Select highlights from the North zone historical drill hole intercepts include the following:

  • 89-06: 53.21 g/t Au and 211.09 g/t Ag over 5.5 meters
  • 94-15: 113.68 g/t Au and 121.77 g/t Ag over 3.0 meters
  • 94-26: 20.08 g/t Au and 1,250.83 g/t Ag over 3.0 meters
  • 95-36: 352.22 g/t Au and 194.64 g/t Ag over 2.9 meters
  • U96-02: 120.30 g/t Au and 2,434.84 g/t Ag over 3.5 meters

StrikePoint CEO, Shawn Khunkhun, states “StrikePoint’s aggressive drill program at this high-grade gold-silver system is the first for 25 years.   Our goal is to confirm the tenor of mineralisation defined by previous work. And secondly to expand the footprint of these outcropping zones. Our geological team has extensive experience working in the Golden Triangle which will allow us to efficiently assess and grow this neglected gold-silver system.  Surface mapping and sampling programs are underway, with the rock samples shipped for assay.  We are excited that prospective rocks with strong sulphide mineralization has been identified in areas of recently melted glaciers. “

Private Placement

The Company announces, further to its press release dated July 22, 2019, that it has closed a further and final tranche of its oversubscribed private placement of flow through shares at $0.16 per share and non-flow through units at a price of $0.11 per unit. A total of 1,562,500 flow through shares and 2,100,000 non-flow through units were issued in this tranche for aggregate gross proceeds of $481,000 in addition to the $2,090,500 previously raised, for a total of $2,571,500 in gross proceeds.

Each non flow through unit comprised one non-flow through share and one share purchase warrant, with each warrant exercisable at a price of $0.20 for a period of 36 months from closing.

In connection with this tranche of the financing, finders’ fees of $36,280 in cash and 273,000 finders’ warrants were paid to Eventus Capital Corp.. and $1,925 cash and 17,500 to Haywood Securities Inc.

The use of proceeds from the financing are for surface exploration and core drilling at the high-grade Willoughby gold property, located east of Stewart, B.C., in the Golden Triangle, as well as for general working capital.

The securities issued in connection with this final tranche of the financing are subject to a regulatory hold period expiring on December 1, 2019

Willoughby Project

The Project occurs along the eastern margin of the Cambria Icefield, approximately seven kilometres east of the advanced-staged Red Mountain Deposit that was recently acquired by Ascot Resources from IDM Mining and 20km northeast of StrikePoint’s Porter Silver Property. The Willoughby Property is underlain by Upper Triassic Stuhini rocks and Lower Jurassic Hazelton volcanic and sedimentary rocks that have been intruded by an early Jurassic-aged hornblende-feldspar porphyry, similar to and potentially comagmatic with the Goldslide Intrusive suite at Red Mountain. Intrusive-related mineralized zones consist of primarily pyrite with lesser pyrrhotite, sphalerite, galena, chalcopyrite, native gold and. Eight gold and silver mineralized zones have been identified to-date over a one-kilometer strike-length mineralization trend.

Qualified Person

Marilyne Lacasse, P. Geo., is the Qualified Person as defined by National Instrument 43-101, has prepared and approved reviewed the technical data in this news release.

About StrikePoint

StrikePoint Gold is a gold exploration company focused on building high grade precious metals resources in Canada. The company controls two advanced stage exploration assets in BC’s Golden Triangle. The past producing high grade silver Porter Project and the high-grade gold property Willoughby, which is adjacent to Red Mountain. The company also owns portfolio of gold properties in the Yukon.

ON BEHALF OF THE BOARD OF DIRECTORS OF
STRIKEPOINT GOLD INC.

“Shawn Khunkhun”

Shawn Khunkhun
Chief Executive Officer and Director

Statements in this release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed under the heading “Risk Factors” and elsewhere in the Company’s filings with Canadian securities regulators. Such information contained herein represents management’s best judgment as of the date here of based on information currently available. The Company does not assume any obligation to update any forward-looking statements, save and except as may be required by applicable securities laws.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

 

For more information, please contact:
StrikePoint Gold Inc.
Shawn Khunkhun, CEO and Director
T: (604) 602-1440
E: sk@strikepointgold.com
W: www.strikepointgold.com