SKP DISCOVERS 200M POLYMETALLIC VEIN WITH SAMPLES GRADING UP TO 876 GRAMS PER TONNE SILVER, 10.8 GRAMS PER TONNE GOLD AND 12.5% ZINC ON GLACIER CRK PROPERTY, STEWART, BC

StrikePoint Gold Inc. (SKP:TSX.V)(STKXF:OTCQB) is pleased to announce significant surface sample results from a polymetallic vein on the Glacier Creek Property. This property is part of the land package with the Porter Project acquired from Skeena Resources (SKE:TSX.V) in July 2018.

 

This discovery lies 5.5 kilometers northeast of the historic Porter mine site and 4 kilometers east of Highway 37A. The Glacier Creek Property lies in an area of significant historical importance and hosted several mines during the early 20th Century, including the Dunwell and Black Bear Mines. Its lower elevation and local water supply offer Strikepoint the opportunity for an extended exploration season.

 

Wide Vein with Massive Sulphides

 

The new vein was observed along a strike length of 205-meters on the western side of Albany Creek. The vein was observed to be up to 2-meters thick on surface and consisted of brecciated mudstones flushed with quartz and massive sulphides, including pyrite, galena and sphalerite. The vein has a shallow dip of 30 degrees west, and remains open along strike.

 

A total of 18 surface samples were collected during a prospecting exercise on 22nd September 2018. The following table shows results for all samples collected.

 

Sample Number

Source

Gold

(grams per tonne)

Silver

(grams per tonne)

Zinc

(percent)

X956805 Outcrop 0.7
X956806 Outcrop 0.3 17.0
X956807 * Ore Pile 10.8 24.7
X956808 * Ore Pile 6.7 13.1 3.5
X956809 Outcrop 10.8 56.8 1.2
X956810 Outcrop 8 26.5 1.3
X956811 Outcrop 3.9 12.3
X956812 Outcrop 3.3 37.7
X956813 Outcrop 1.7 15.8
X956814 Outcrop 2.4 87.4
X956815 * Ore Pile 1.9 876.0
X956816 Outcrop  0.7 90.9 8.6
X956817 Outcrop 7.8 58.1
X956818 Outcrop 3.1 74.2 12.5
X956819 Outcrop 4.7 61.3 11.2
X956821 * Ore Pile 4.7 156.0 7.3
X956822 * Ore Pile 5.9 573.0 4.7
X956823 Outcrop 3.4 171.0 4.2

 

 

Historical Activity

 

The discovery lies in the same area as the historical “Ben Bolt” mine that was worked between 1910 and 1912. The site has remained unexplored for the intervening 100 years. The most recent report on the mine was made by Dr. A. C. Skerl in 1955 following a site visit that same year. The report details that 1,600 feet (490 meters) of hand-driven underground workings were excavated in the two years of operation, and that the “whole of the workings are within a large quartz vein that is at least 200 feet (61m) thick”.

 

The Ben Bolt mine lies along a geological trend known as the Portland Canal Fissure Zone, a regional structure with the same trend as the Silverado – Porter – Big Nunatak target zones.

 

Other historic mines along this trend have also shown significant ore bodies, with the Dunwell Mine perhaps being the most famous, which produced 45,657 tonnes average 14.3 grams per tonne gold equivalent.  Drilling by America Creek Resources Ltd. (AMK: TSX.V) at Dunwell in 2010 indicated a zone at least 300-meters long and 200-meters along dip with a true thickness of 6 to 7 meters.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2019 Drilling Target

 

The vein at Ben Bolt has never been drilled and as no exploration work has been undertaken since 1912 it represents a major new target for exploration in 2019. The surface strike length remains open to the northwest and the southeast, with approximately 1.6 kilometers of the Portland Canal Fissure Zone continuing to extend to the northern property boundary. The lower elevation and presence of Albany Creek has the potential for extend the exploration season within the entire Porter Project package.

 

About the Golden Triangle

 

The Golden Triangle is an area of northwestern British Columbia that has seen extensive historic mining and prospecting activity, and has recently been the site of modern discoveries, including the Premier Gold, Snip and Eskay Creek Mines. The area has seen a resurgence in infrastructure investment which supports exploration activities, including upgraded transmission lines supplying clean, affordable and reliable hydroelectric power. Other recent improvements include highway upgrades, new ocean port infrastructure at the ice-free port of Stewart and the commissioning of three hydroelectric facilities.

 

StrikePoint Gold is a well-financed gold exploration and development company. The company controls a portfolio of gold and silver properties in the Yukon, British Columbia and throughout Canada.

 

QA/QC

 

The Company maintains a rigorous QA/QC program with respect to the preparation, shipping, analysis and checking of all samples and data from the properties. Quality control for field sampling and drill samples at the Company’s projects covers the complete chain of custody of samples, including sample handling procedures and analytical-related work, plus the insertion of standard and blank materials. The QA/QC program also includes data verification procedures. ALS Laboratories in Vancouver, Canada (ISO 17025:2005 accreditation) assayed all grab samples from the current field program using fire assay and ICP Mass Spectroscopy methods.

 

The technical information contained in this news release has been approved by Andy Randell, P. Geo., Vice President, Exploration of StrikePoint Gold.  Mr. Randell is a qualified person as defined in NI 43-101.

 

For further information please visit our website: www.strikepointgold.com

 

 

ON BEHALF OF THE BOARD of STRIKEPOINT GOLD INC.

Shawn Khunkhun, CEO and Director

For more information, contact:

Shawn Khunkhun

604-602-1440

sk@strikepointgold.com

 

 

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.

SKP DISCOVERS SIGNIFICANT NEW POLYMETALLIC VEIN ON SURFACE AT PORTER WITH ASSAYS UP TO 43.6 OUNCES PER TONNE SILVER, 0.54 OUNCES PER TONNE GOLD AND 28.8% PER TONNE ZINC

StrikePoint Gold Inc. (SKP:TSX.V)(STKXF:OTCQB) is pleased to announce the discovery of a significant new vein at the Porter Project near Stewart, British Columbia.

 

Significant Step Out from Historic Porter Resource

The new vein has been observed along a 275-meter strike on surface in an area that until the last decade would have been obscured by year-round snow cover. Thirty-two samples were collected from the area which lies approximately 800-meters to the west of the historic Porter resource area, with assays ranging from trace to 43.6 ounces per tonne silver, trace to 0.54 ounces per tonne gold. Significant zinc was also found, from trace to 28.8% per tonne.

Strikepoint CEO Shawn Khunkhun comments “This is one of the most exciting discoveries following this seasons exploration work as it helps prove the existence of significant, untested mineral veins outside of the historical resource area. Our mandate was to prove upside for the deposit, and this discovery is a major step towards that goal.”

The table below shows sample highlights:

Sample ID Ag

(grams per tonne)

Au

(grams per tonne)

Zinc

(percent)

X956153 250 16.7 (0.54 tr.oz)
X956577 1355 (43.6 tr.oz) 0.51 28.8
X956160 677 7.04
X956164 619 0.52 0.67
X956152 555 0.88
X956166 245 3.75
X956165 212
X956578 182 7.04 0.3
X956591 137 2.09
X956576 132 1.92
X956163 126 0.21
X956579 120 3.83 0.26
X956151 1.93
X956155 0.41
X956162 0.41
X956575 0.43

 

New Geological Potential

 

Samples were collected from a newly exposed shallow dipping quartz breccia vein along a 275-meter strike. Several other ‘Flat Veins’ have been observed during the summer, including high-grade samples from Silverado and the Porter areas. A preliminary interpretation connects these veins, forming one large structure that circles and cuts through Mount Rainey. The angles the veins dip at suggest that they converge and form a ‘bowl’ shaped fault that passes under the entire mountain, somewhat like the structures observed at Ascot Gold ‘Premier Mine’ located 25 kilometers to the northwest. This new ‘flat vein’ ranges from 30 centimeters to 1 meter in thickness, but the mineralization extends into the brecciated and altered halo around the contact sometimes for several meters.

This structure contrasts with the steeply dipping veins that were historically mined at Porter and Silverado that appear to have formed within fold hinges and shear zones.

The results are also highlighting a potential change in the geochemical potential of the veins, with gold becoming more significant to the west whilst silver dominates to the east.

2019 Drilling Target

This new vein is a significant target for drill testing in 2019. Diamond drilling will also allow exploration of the connecting area that is currently obscured by a shallow 650-meter wide patch of ice, all of which is covered under the existing exploration permit.

 

About the Golden Triangle

The Golden Triangle is an area of northwestern British Columbia that has seen extensive historic mining and prospecting activity, and has recently been the site of modern discoveries, including the Premier Gold, Snip and Eskay Creek Mines. The area has seen a resurgence in infrastructure investment which supports exploration activities, including upgraded transmission lines supplying clean, affordable and reliable hydroelectric power. Other recent improvements include highway upgrades, new ocean port infrastructure at the ice-free port of Stewart and the commissioning of three hydroelectric facilities.

 StrikePoint Gold is a well-financed gold exploration and development company. The company controls a portfolio of gold and silver properties in the Yukon, British Columbia and throughout Canada.

 

QA/QC

The Company maintains a rigorous QA/QC program with respect to the preparation, shipping, analysis and checking of all samples and data from the properties. Quality control for field sampling and drill samples at the Company’s projects covers the complete chain of custody of samples, including sample handling procedures and analytical-related work, plus the insertion of standard and blank materials. The QA/QC program also includes data verification procedures. ALS Laboratories in Vancouver, Canada (ISO 17025:2005 accreditation) assayed all grab samples from the current field program using fire assay and ICP Mass Spectroscopy methods.

The technical information contained in this news release has been approved by Andy Randell, P. Geo., Vice President, Exploration of StrikePoint Gold.  Mr. Randell is a qualified person as defined in NI 43-101.

 

For further information please visit our website: www.strikepointgold.com

 

 

ON BEHALF OF THE BOARD of STRIKEPOINT GOLD INC.

Shawn Khunkhun
CEO and Director

For more information, contact:

Shawn Khunkhun

604-602-1440

sk@strikepointgold.com

 

 

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.

PRELIMINARY PROSPECTING AT THE BIG NUNATAK RETURNS 427 GRAMS PER TONNE SILVER AND 0.7% COPPER. ESTABLISHES A 10-KILOMETER-LONG MINERAL TREND

StrikePoint Gold Inc. (SKP:TSX.V)(STKXF:OTCQB) is pleased to announce results from initial prospecting at the “Big Nunatak” on the Porter Project near Stewart, British Columbia.

 

New ‘On Trend’ Discovery

A total of thirteen samples were collected on the Nunatak during initial prospecting in September. Samples were collected from quartz veins, sulphide-rich Jurassic-aged mudstones and contact zones with intrusive material from the Goldslide / Hillside Suite. Highlighted assays are shown in the table below.

 

Sample ID Ag (g/t) Cu (%) Description
X956853 427 Trace Mudstone / siltstone with blebs of pyrite, found close boundary with intrusive dyke.
X956598 109 0.78 Tuffaceous mudstone with blebs of pyrite and malachite, proximal to intrusive dyke.
X956854 199 Trace Tuffaceous mudstone with semi-massive, fine grained pyrite blebs proximal to intrusive dyke.

 

This new sampling from Big Nunatak supports the establishment of a ten-kilometer-long mineralized trend running through the historic Silverado and Porter mines to the newly acquired Big claim block.

This first batch of samples ranged from trace to 427 grams per ton silver and covered an area of 150 meters by 120m.  An additional 45 samples were collected from a wider area. Results are pending.

 

Similarities to Other Local Mines

The geology of the Big Nunatak is strikingly like that found at the Red Mountain Mine (IDM Mining) which is approximately six kilometers to the northeast. The host rocks are Jurassic-aged sedimentary / volcaniclastic units from the Hazelton Group intruded by early Jurassic intrusions of the Hillside and Goldslide Porphyries.

The main ore zones at Red Mountain are found in the core of the Bitter Creek Anticline as sulphide-rich stockwork vein systems, primarily pyrite.

Strikepoint’s recent sampling and these initial results contribute to the understanding and potential of the Big Nunatak and the extensive mineralized trend within the Company’s thirty square kilometer property package.

 

Property Acquisition

The Big Property was acquired along with the Bada and Boom areas in September 2018 (see news release dated 12th September 2018) due to their potential to host additional mineralization and to expand the land holding beyond the initial Porter Project. The primary feature at Big is the Nunatak, an area of open rocky ground projecting from the Cambria Icefield.

 

 

About the Golden Triangle

The Golden Triangle is an area of northwestern British Columbia that has seen extensive historic mining and prospecting activity, and has recently been the site of modern discoveries, including the Premier Gold, Snip and Eskay Creek Mines. The area has seen a resurgence in infrastructure investment which supports exploration activities, including upgraded transmission lines supplying clean, affordable and reliable hydroelectric power. Other recent improvements include highway upgrades, new ocean port infrastructure at the ice-free port of Stewart and the commissioning of three hydroelectric facilities.

 StrikePoint Gold is a well-financed gold exploration and development company. The company controls a portfolio of gold and silver properties in the Yukon, British Columbia and throughout Canada.

 

QA/QC

The Company maintains a rigorous QA/QC program with respect to the preparation, shipping, analysis and checking of all samples and data from the properties. Quality control for field sampling and drill samples at the Company’s projects covers the complete chain of custody of samples, including sample handling procedures and analytical-related work, plus the insertion of standard and blank materials. The QA/QC program also includes data verification procedures. ALS Laboratories in Vancouver, Canada (ISO 17025:2005 accreditation) assayed all grab samples from the current field program using fire assay and ICP Mass Spectroscopy methods.

The technical information contained in this news release has been approved by Andy Randell, P. Geo., Vice President, Exploration of StrikePoint Gold.  Mr. Randell is a qualified person as defined in NI 43-101.

 

For further information please visit our website: www.strikepointgold.com

 

ON BEHALF OF THE BOARD of STRIKEPOINT GOLD INC.

Shawn Khunkhun CEO and Director

For more information, contact:

Shawn Khunkhun

604-602-1440

sk@strikepointgold.com

 

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.

STRIKEPOINT GOLD INC. PROVIDES AN UPDATE ON ACTIVITY AT THE PORTER PROJECT, STEWART, BRITISH COLUMBIA

StrikePoint Gold Inc. (SKP:TSX.V)(STKXF:OTCQB) is pleased to provide the following update for the Porter Project in Stewart, British Columbia, the highlights of which include:

 

  • Over 4,000 meters of diamond drilling across two major target zones
  • Establishment of a permanent 20-person camp on site
  • Addition of the Handsome Jack, Big, Bada and Boom claims to incorporate new potential targets being exposed by retreating ice and become a major land holder in the Stewart area. This increases the exploration area from the original 8 square kilometers to 33 square kilometers.
  • Collection of 396 surface samples across the project area and with extensive geological mapping
  • Completion of engineering, environmental and safety projects to compliment the exploration permit
  • Acquisition of hyperspectral imagery and other data to help build a geological model and generate new targets to support and expand mineral resources

 

An Aggressive Timeline

A Letter of Intent to acquire the Porter (Idaho) Project from Skeena Resources Limited (TSX.V:SKE) was signed on May 2nd 2018, with the acquisition taking place on July 16th 2018. In the 12-weeks since mid-July, Strikepoint has established a permanent 20-person camp, added 20.5 square kilometers of new prospective ground and completed 4,304 meters of diamond drilling across several targets on the property. Staff have also completed engineering and environmental studies to compliment the exploration permit.

 

Expanded Drilling Program

The initial drill plan for the Porter Project consisted of a single diamond drill exploring a variety of targets around the old Porter-Prosperity Mines. Targets were developed to either intersect historical veins and therefore confirm grades from previous campaigns; to gather purely geological and structural information to aid in the development of a new geological model or to test possible extensions to veins outside of the historical resource area.

The drilling commenced on August 16th 2018, and a total of twenty one holes were drilled from six pads in and around the Porter-Prosperity area. Drilling multiple holes from a single drill pad allowed maximum efficiency in the terrain whilst providing enough data to project geological results in a three-dimensional environment.

On September 13th, 2018, a second diamond drill was added to the program to allow exploration of the Silverado target. This area was also the site of historical mining, but little to no exploration work had been completed. The long-standing idea is that Silverado and Porter are connected systems that lay two kilometers apart and are obscured by ice cover on the peak of Mount Rainey. A total of three holes were drilled from two pads set back from the old workings to collect geological information as well as test for additional mineralization.

A total of 4,304 meters were drilled between the Porter-Prosperity and Silverado targets during a five-week period. Samples have been sent to SGS Labs in Burnaby, British Columbia for assaying and results are pending.

 

Building A Major Land Package

On July 16th, 2018, Strikepoint acquired the Handsome Jack property from Trifecta Gold Limited. The Handsome Jack property is contiguous with the eastern border of the Porter Project and shows potential for parallel vein systems like those within the Porter-Prosperity area. One of these, the Melvin Vein, was briefly mined in the 1920’s and is thought to be an extension of the Angelo Vein on the Porter Property. Amalgamating these two projects allows the development of a unified model and the inclusion of ore veins that were outside of the original resource calculation.

Strikepoint then added an additional 20.5 square kilometers of land on September 12th, 2018 with the acquisition of the Big, Bada and Boom claims. These were previously unclaimed areas of ground that were exhibiting potential for mineralization in areas where ice has recently retreated around the periphery of the Cambria Icefield.

One of these new targets is the “Big Nunatak”, which is effectively a mountain currently being exposed within the Cambria Icefield, approximately eight kilometers southeast of Porter. The lithology consists of Jurassic-aged mudstones hosting pyrite mineralization, which manifests as large gossanous zones at surface. The exposure lies close to the Triassic- Jurassic lithological boundary, locally known as “The Red Line” and is known to host many of the major deposits of the area. Initial observations include the comparison to the outcrops at IDM Mining’s “Red Mountain” Mine, located eight kilometers to the northeast of the Nunatak. Field work was undertaken on this new target area and a total of 47 surface samples were collected for assaying, the results of which are pending.

 

Extensive Surface Work

A dedicated team of geologists spent a significant amount of time on the site collecting geological data from surface. Much of the existing information was collected from the 1920’s and the 1980’s and needed to be “ground truthed” in the field for accuracy.

A total of 396 samples were collected from all areas of the project, with the focus being on the Porter and Silverado targets. There are currently 144 assays pending.

The initial results were released on September 18th, 2018 and included assays up to 1,425 ounces per ton of silver from samples collected around Silverado.

This geochemical sampling program is the most comprehensive program that the Porter Project has seen and takes in new areas that are being exposed through receding glaciers. A profile is developing that shows the potential for gold and copper mineralization within the project area as well as the expected silver.

All data from surface work, historical maps and the 2018 drilling program will be incorporated into a new geological model that will be generated over the off-season.

 

Establishing A Permanent Camp

The Porter Project had no existing infrastructure to support an exploration project, and as such a camp was built by Matrix to the south of the historical workings. It was decided to use a series of metal-sided buildings and weather havens to allow extended use of the camp in future years, and to provide adequate protection from snow and rockfalls for onsite staff. These buildings will also allow for a rapid deployment to site in the spring thus making the absolute most of the exploration season.

 

Other Value Adding Studies

The exploration permits for the site were taken over from Skeena who applied for them in 2017 / 2018. Several aspects of this permit had to be fulfilled, including a slope stability and avalanche potential study. Strikepoint also brought an independent mining engineer to site to assess the underground workings for potential access in 2019.

In September 2018, the site was passed over by a series of satellites that compiled a hyperspectral study of the Porter-Prosperity, Silverado, Handsome Jack and Glacier Creek sites. These studies help identify mineralization, alteration and significant geological units through sensitive changes in the light spectrum. Information from this study will allow for the application of the geological model over a project sized area and help identify exploration targets for 2019.

 

Off Season Work

The plan going forwards will be to compile all the data collected in 2018 and incorporate this with a collection of historical data and maps that have been curated over the summer. This will form one of the most comprehensive studies of the project area, which will then be used to generate a new three-dimensional geological model, thus delineating targets for future exploration activity.

Efforts will also begin to gain permits to drill for areas that are currently outside of the Porter-Silverado boundary. This will include Handsome Jack, Glacier Creek and the Big Nunatak which have all shown promise from work undertaken during 2018. A series of post-season and assessment reports will be authored and filed with the BC Government as is standard

Assays results will continue to be processed and released in due course for the drill program. Complimentary studies of mineralogy and metallurgy will parallel these results to update and confirm the information held in the historical resource.

Onsite activity is planned to perform snow monitoring and control measures through the winter to increase the knowledge of year-round conditions at the project site, to protect assets and to allow the earliest possible access to the camp in the spring.

Please refer to the Strikepoint Website for property maps, results and drill plans.

 

 

About the Golden Triangle

The Golden Triangle is an area of northwestern British Columbia that has seen extensive historic mining and prospecting activity, and has recently been the site of modern discoveries, including the Premier Gold, Snip and Eskay Creek Mines. The area has seen a resurgence in infrastructure investment which supports exploration activities, including upgraded transmission lines supplying clean, affordable and reliable hydroelectric power. Other recent improvements include highway upgrades, new ocean port infrastructure at the ice-free port of Stewart and the commissioning of three hydroelectric facilities.

 StrikePoint Gold is a well-financed gold exploration and development company. The company controls a portfolio of gold properties in the Yukon and throughout Canada.

 

QA/QC

The Company maintains a rigorous QA/QC program with respect to the preparation, shipping, analysis and checking of all samples and data from the properties. Quality control for field sampling and drill samples at the Company’s projects covers the complete chain of custody of samples, including sample handling procedures and analytical-related work, plus the insertion of standard and blank materials. The QA/QC program also includes data verification procedures. ALS Laboratories in Vancouver, Canada (ISO 17025:2005 accreditation) assayed all grab samples from the current field program using fire assay and ICP Mass Spectroscopy methods. Drill samples were processed by Bureau Veritas Labs in Vancouver, Canada (ISO9001:2008 accreditation).

 

The technical information contained in this news release has been approved by Andy Randell, P. Geo., Vice President, Exploration of StrikePoint Gold.  Mr. Randell is a qualified person as defined in NI 43-101.

 

For further information please visit our website: www.strikepointgold.com

 

 

ON BEHALF OF THE BOARD of STRIKEPOINT GOLD INC.

Shawn Khunkhun
CEO and Director

For more information, contact:

Shawn Khunkhun

604-602-1440

sk@strikepointgold.com

 

 

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.

SKP REPORTS SURFACE SAMPLES UP TO 44,546 GRAMS PER TONNE (1,425 OUNCES PER TON) SILVER AND 16.9 GRAMS PER TONNE GOLD FROM THE PORTER PROJECT, STEWART, BC

StrikePoint Gold Inc. (SKP:TSX.V)(STKXF:OTCQB) is pleased to announce the first round of surface sample results from the Porter Project near Stewart, British Columbia.

These initial assays are encouraging and represent new discoveries of veins and other mineralized features from outside of the historic resource area and support targeting of the two diamond drill rigs currently operating on the project.

This is the first round of 192 sample assays returned from the 2018 exploration campaign. Samples ranged from trace to 44,546 grams per tonne silver, trace to 16.9 grams per tonne gold and trace to 3.57% copper. This includes samples collected for general geochemical profiling as well as mineralized samples as Strikepoint continues to build its understanding of this deposit and the geology.

All samples in this release were collected from the Porter, Silverado and Handsome Jack targets. At the date of this release, a total of 413 surface samples have been collected across the entire property, and field sampling remains ongoing while good ground conditions prevail. Further results are pending.

Sample X958002 – 44,546 grams per tonne silver (Silverado)

This sample was found in one of the gullies above the historic Silverado mine portals and is assumed to have come from an area where ice has retreated in recent years. Although this was a float sample (i.e. not from outcrop), this galena-rich quartz-vein specimen was collected where the topography consists of narrow, steep-sided gullies and so is assumed to have originated from a local vein on the escarpments.

Along with silver-bearing galena, this sample also hosted chalcopyrite which resulted in a copper value of 3.57%. This is consistent with field observations where the presence of copper minerals associate with higher-grade silver. In addition, this sample also returned 3.25 grams per tonne gold.

Sample X957727 – 25,981 grams per tonne silver (Porter)

Sample X957727 was retrieved from a new vein discovered 200-meters west of the historic Porter mines, in a possible extension of the ‘Honest John’ vein. The sample is from a galena-rich quartz vein up to 40 centimeters thick and would have been until relatively recently obscured by late-lying snow cover.

An additional seven samples were collected along a 100-meter strike length of this vein returning assays ranging from 203 grams per tonne to 1,390 grams per tonne silver. Other assays from a systematic sampling program are pending.

Sample X956011 – 1,330 grams per tonne silver and 16.9 grams per tonne gold (Silver Key)

This sample represents a significant step out from the historical Porter mine workings, occurring 800-meters west of the nearest portal. The “Silver Key” vein (named after the underlying Crown Grant Claim) is a new discovery and would have previously been obscured by the glacier. It appears that it could be a westerly continuation of the vein sample X957727 was collected from, and field investigation is ongoing.

The presence of gold in the sample is in line with a general trend whereby the galena-rich silver veins seem to be passing into more arsenopyrite-rich gold veins to the west of the historical workings.

Sample X958358 – 9,500 grams per tonne silver (Big Rig Vein)

Sample X958358 was collected in a gossanous zone to the south of the present camp location and returned 9,500 grams per tonne silver as well as 2.6 grams per tonne gold.

This new zone lies to the south of the “Big Rig Fault”, a structure that in previous reports was assumed to cut off the silver mineralization and so formed the southerly extent of the historic workings and resource. The discovery of this sample shows that there is potential for the veins to have been offset by the fault and continue further south into the valley.

Quartz veins up to 20 centimeters across are found within a gossanous zone up to 5 meters wide. Anastomizing veinlets or arsenopyrite up to 0.5cm across are found within the quartz and are thought to host the gold.

Sample X956556 – 8,900 grams per tonne silver (Handsome Jack)

This sample was from a newly discovered group of parallel veins on the Handsome Jack property, which was acquired from Trifecta Gold by Strikepoint Gold on 24th August 2018.

These veins are to the east of the Angelo Vein, the outermost veins included in the historic resource. They are comprised of swarms of smaller veins up to twenty centimeters wide within a five-meter zone and would have been overlooked by the original miners working the Porter Mines. These veins represent a new style of mineralization that could add bulk to a new resource, but also help to strengthen the idea that veins are not restricted to the original Porter project and continue to propagate to the east (and west).

The “Lithological Cap” and other Geology

Previous explanations of the geology of the Porter and Silverado mines are being found to be oversimplified and the geological team has spent significant time mapping and sampling across the entire project area.

One feature is an apparent silicified cap that forms the peak of Mount Rainey. This cap rests on top of a ‘scoop shaped’ fault like those seen at Ascots “Premier Mine”, located seventeen kilometers to the north west. The emplacement of this lithological unit appears to prevent veins from reaching the surface which helps explain the lack of mineralization at the peak. Instead, the mineralizing fluids have the potential to track parallel to these faults forming ‘flat veins’ noted in the historical resource. This strengthens the idea that mineralized veins could be continuous between Porter and Silverado and are just masked by this geological phenomenon.

Other significant structures have also been observed and are being studied for their potential as mineral hosts, including veins hosted in fold hinge fractures, ‘reefs’ of fluids pooling against impervious layers and extensional vein sets.

 

 

About the Golden Triangle

 

The Golden Triangle is an area of northwestern British Columbia that has seen extensive historic mining and prospecting activity, and has recently been the site of modern discoveries, including the Premier Gold, Snip and Eskay Creek Mines. The area has seen a resurgence in infrastructure investment which supports exploration activities, including upgraded transmission lines supplying clean, affordable and reliable hydroelectric power. Other recent improvements include highway upgrades, new ocean port infrastructure at the ice-free port of Stewart and the commissioning of three hydroelectric facilities.

 

StrikePoint Gold is a well-financed gold exploration and development company. The company controls a portfolio of gold properties in the Yukon and throughout Canada.

 

QA/QC

 

The Company maintains a rigorous QA/QC program with respect to the preparation, shipping, analysis and checking of all samples and data from the properties. Quality control for field sampling and drill samples at the Company’s projects covers the complete chain of custody of samples, including sample handling procedures and analytical-related work, plus the insertion of standard and blank materials. The QA/QC program also includes data verification procedures. ALS Laboratories in Vancouver, Canada (ISO 17025:2005 accreditation) assayed all grab samples from the current field program using fire assay and ICP Mass Spectroscopy methods. Drill samples were processed by Bureau Veritas Labs in Vancouver, Canada (ISO9001:2008 accreditation).

 

The technical information contained in this news release has been approved by Andy Randell, P. Geo., Vice President, Exploration of StrikePoint Gold.  Mr. Randell is a qualified person as defined in NI 43-101.

 

For further information please visit our website: www.strikepointgold.com

 

 

ON BEHALF OF THE BOARD of STRIKEPOINT GOLD INC.

Shawn Khunkhun
CEO and Director

For more information, contact:

Shawn Khunkhun

604-602-1440

sk@strikepointgold.com

 

 

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.

STRIKEPOINT GOLD INC. ADDS SECOND DRILL TO THE PORTER PROJECT, STEWART

StrikePoint Gold Inc. (SKP:TSX.V)(STKXF:OTCQB) is pleased to announce that it has mobilized a second diamond drill rig to their Porter Project near Stewart, British Columbia.

 

Targeting the Silverado Veins

Diamond drilling at the Porter Project has been focused on gathering information from the historic resource area and stepping out on the eastern flank of Mount Rainey. This drilling is in the vicinity of the former Prosperity – Porter Idaho underground mine. The historic Silverado veins are found two kilometers away on the western side of the mountain at the former Silverado underground mine and like Porter were worked historically through to the 1920’s.

Surface sampling in the 1980’s by Teck highlighted four main veins in the Silverado system with noted results of 1,875 grams per tonne from one of these veins. Work by Strikepoint this summer has identified possible structural extensions revealed as the Silverado Glacier has retreated.

The plan includes the drilling of at least three diamond drill holes at Silverado to a total depth of 1,500m to gather vital subsurface information and intersections with vein extensions. It is hypothesized that the Silverado Veins are an extension of the Porter system, but their connection has been hidden by ice cover on the top of Mount Rainey. The Silverado veins were not included in the existing historical resource.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Drilling Update

Thirteen drill holes has been completed on the Porter Property as at September 8th, 2018, with a total meterage of 1,920 meters. These all represent exploration holes in and around the historic resource in the Porter project, including the D-Vein. Other holes have explored the connection between the Angelo and Melvin veins as well as extensions to the west of the Blind, Flat and Prosperity vein systems. Assay results from the 2018 drill campaign are still pending.

About the Golden Triangle

The Golden Triangle is an area of northwestern British Columbia that has seen extensive historic mining and prospecting activity, and has recently been the site of modern discoveries, including the Premier Gold, Snip and Eskay Creek Mines. The area has seen a resurgence in infrastructure investment which supports exploration activities, including upgraded transmission lines supplying clean, affordable and reliable hydroelectric power. Other recent improvements include highway upgrades, new ocean port infrastructure at the ice-free port of Stewart and the commissioning of three hydroelectric facilities.

StrikePoint Gold is a well-financed gold exploration and development company. The company controls a portfolio of gold properties in the Yukon and throughout Canada.

The technical information contained in this news release has been approved by Andy Randell, P. Geo., Vice President, Exploration of StrikePoint Gold.  Mr. Randell is a qualified person as defined in NI 43-101.

For further information please visit our website: www.strikepointgold.com

 

ON BEHALF OF THE BOARD of STRIKEPOINT GOLD INC.

Shawn Khunkhun
CEO and Director

For more information, contact:

Shawn Khunkhun

604-602-1440

sk@strikepointgold.com

 

 

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.

STRIKEPOINT GOLD INC. INCREASES LAND POSITION IN THE GOLDEN TRIANGLE AND PROVIDES EXPLORATION UPDATE ON PROJECTS

StrikePoint Gold Inc. (SKP:TSX.V)(STKXF:OTCQB) is pleased to announce that it has increased its land position by acquiring the Big, Bada and Boom Properties adjacent to its Porter Idaho Project near Stewart, British Columbia. This is in addition to the acquisition of the Handsome Jack property from Trifecta Gold on August 16th, 2018.

 

The Big, Bada and Boom Properties

This collection of property represents an area of newly staked ground to the east and contiguous to the Porter Idaho and Handsome Jack properties. These new blocks of claims total 20.5 square kilometers and bring the entire property to 33 square kilometers.

The additional ground secures StrikePoint’s exploration potential in the area, including straddling what is locally known as “The Red Line”. This is a geological contact between Triassic and Jurassic aged rocks which is a key marker for copper and gold mineralization, and most of the deposits within the “Golden Triangle” area are found within 2 kilometers of this contact zone. This increases the commodity potential within the property portfolio in British Columbia from silver to include a potential for gold and copper discoveries.

Acquiring this additional property also gives Strikepoint access to all the major exposures of rocks around the periphery of this section of the Cambria Icefield. Ice cover in this area has reduced by 30 to 40 percent since the 1980’s, and so many of these exposures have never been prospected. Geologists are currently on site and are positioned to explore these new areas of ground during the 2018 field season.

Exploration Update

Exploration activities are progressing with earnest on the Porter Idaho project. The exploration camp is well established, and all facilities have been installed and passed a Mining Inspector visitation. Geological teams have collected over 300 surface samples to date which are currently being analyzed by the assaying labs, the first results being expected imminently. Samples have been collected from the Porter-Prosperity, Silverado and Handsome Jack properties, and will now be expanded to include the Boom property.

Diamond drilling is also progressing, and to date around 60% of original planned holes have been completed (1,350 meters completed of 2,150 meters planned). Strikepoint is currently looking at options to expand this program to capitalize on the remaining field season.

 

About the Golden Triangle

The Golden Triangle is an area of northwestern British Columbia that has seen extensive historic mining and prospecting activity, and has recently been the site of modern discoveries, including the Premier Gold, Snip and Eskay Creek Mines. The area has seen a resurgence in infrastructure investment which supports exploration activities, including upgraded transmission lines supplying clean, affordable and reliable hydroelectric power. Other recent improvements include highway upgrades, new ocean port infrastructure at the ice-free port of Stewart and the commissioning of three hydroelectric facilities.

 

StrikePoint Gold is a well-financed gold exploration and development company. The company controls a portfolio of gold properties in the Yukon and throughout Canada.

The technical information contained in this news release has been approved by Andy Randell, P. Geo., Vice President, Exploration of StrikePoint Gold.  Mr. Randell is a qualified person as defined in NI 43-101.

 

For further information please visit our website: www.strikepointgold.com

 

ON BEHALF OF THE BOARD of STRIKEPOINT GOLD INC.

Shawn Khunkhun
CEO and Director

For more information, contact:

Shawn Khunkhun

604-602-1440

sk@strikepointgold.com

 

 

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.

SKP DISCOVERS NEW HIGH-GRADE GOLD / SILVER “HELIOS” VEIN AT COLOSSUS TARGET, GOLDEN-OLY, YUKON WITH GRADES UP TO 37.5 GRAMS PER TONNE GOLD AND 1150 GRAMS PER TONNE SILVER

StrikePoint Gold Inc. (SKP:TSX.V)(STKXF:OTCQB) is pleased to announce the discovery of a new high-grade gold and silver vein system at their Colossus target on the Golden-Oly Project, Yukon Territory.

 

The Helios Vein

The Helios Vein is a new discovery on the western edge of the Colossus Target, which has so far been traced for 600 meters along a roughly north-south strike. The polymetallic vein is composed of quartz-arsenopyrite infilling factures that have formed in the carapace of the Colossus granodiorite intrusion.

A total of twenty-two samples were collected from the vein, with grades ranging from 1.005 to 37.5 grams per tonne gold and trace to 1150 grams per tonne silver. The highest grade silver sample also returned a value of 2.94% copper, although this is seen as being anomalous. Helios is a series of parallel sheeted polymetallic quartz veins that hosts massive sulfides and sulfosalts, including pyrite and arsenopyrite, with a collective vein width at surface ranging from thirty centimeters to five meters.

These types of high-grade polymetallic veins form in the contact zone between the intrusive and country rock contact. The mudstone surrounding the intrusion provides carbon to the mineral-rich hydrothermal fluids which results in a redox reaction and triggers the sulphide formation, which in turn traps the gold and silver. The vein occupies arcuate fracture systems the parallel the intrusions, and so it is possible that additional veins exist around the intrusion.

Drilling at Colossus targeted the carapace of the intrusive body to see if mineralization persists at depth. The first results are expected in September.

 

The Zeus Target

 

The Zeus target is a ‘sister’ intrusion that lies approximately 7-kilometers to the south of Colossus and represents another of the “Seven Wonders” targets. This intrusion is partially exposed, and our prospecting team has discovered quartz-vein material like that seen in the Helios Vein. To date a 60-meter strike length has been observed, with grab sample assays returned from 1.355 to 4.06 grams per tonne gold and from trace to 43.6 grams per tonne silver.

The field team will continue to work on this new prospect, as well as others in the Seven Wonders Trend, to collect more data. Similar mineralization and grade in veins to date do help to firm up the notion that at least two of the Seven Wonders targets (Colossus and Zeus) are geologically similar.

 

The Seven Wonders

 

This collection of three properties, now collectively termed the “Seven Wonders” exhibited high levels of exploration potential during the 2017 season. The core of the 78-km long trend contains seven buried or partially exhumed intrusions that appear to be copper-rich in the west and becoming more gold-dominated in the east.

Highlights from the 2017 program include:

 

  • Surface grab samples at PDM returned grades of up to 9.8g/t gold, 2.8% copper and 245g/t silver in 2017.
  • Samples collected from an area of sheeted veins within intrusive material with visible copper mineralization, including native copper.
  • Historical samples up to 19g/t gold occur about 2 kilometers northeast of the Babylon intrusive along an untested gossanous ridgeline.
  • The Colossus target on the Golden-Oly property returned assays up to 10.65g/t gold, 364g/t silver and 0.52% copper.
  • Airborne geophysics shows seven of these buried intrusions along a west-southwest to east-northeast bearing.

 

About StrikePoint Gold

 StrikePoint Gold is a well-financed gold exploration and development company. The company controls a portfolio of gold properties in the Yukon and throughout Canada.

The technical information contained in this news release has been approved by Andy Randell, P. Geo., Vice President, Exploration of StrikePoint Gold.  Mr. Randell is a qualified person as defined in NI 43-101.

For further information please visit our website: www.strikepointgold.com

 

 

ON BEHALF OF THE BOARD of STRIKEPOINT GOLD INC.

Shawn Khunkhun
CEO and Director

For more information, contact:

Shawn Khunkhun

604-602-1440

sk@strikepointgold.com

 

 

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.

STRIKEPOINT GOLD INC. BEGINS DRILLING AT THE PORTER IDAHO PROJECT, BRITISH COLUMBIA

August 16, 2018. StrikePoint Gold Inc. (SKP:TSX.V)(STKXF:OTCQB) is pleased to announce that, further to its press release dated August 14, 2018, it completed the acquisition of the Porter Idaho Property near Stewart, British Columbia, indirectly through the acquisition from Skeena Resources Ltd. (“Skeena”) of all of the outstanding shares of Mount Rainey Silver Inc. (the “Transaction”) on August 15, 2018. The Company’s drilling campaign for the Porter Idaho property has also commenced.

 

2018 Drill Campaign

The drill program at Porter Idaho will consist of up to 3,000 meters of diamond drilling on the property, and is designed to test two main areas of interest:

  • possible new extensions to the existing veins that would have not been included of the historic resource and,
  • drilling of known veins to recover ore zone material for assaying, the results from which could be used to modernize the historic resources.

This is the first drilling on the property since Teck in the early 1980’s, and some of the planned drill holes would not have been possible during their time due to extensive ice cover that has since receded. This gives Strikepoint the unique opportunity to test new targets with the aim of adding ounces to the resource model.

A total of twelve diamond drill holes are planned for this season, with depths ranging from 100 meters to 300 meters. Holes will be paired from a shared pad to increase our understanding of the subsurface geometry of the veins.

Porter Idaho Camp

The camp facilities at Porter Idaho are now complete and fully occupied. Strikepoint chose Matrix to build and manage the camp and opted for a range of prefabricated steel buildings that could be flown into place and rock bolted to the ground. These buildings are designed to withstand up to 100 feet of snow burial in the winter and provide a safer work environment for employees. This style of camp will also be easier to winterize and will not require lengthy reestablishment in the new year, thus allowing the 2019 exploration season to start up more quickly.

The Porter Idaho – Silverado Mines

The Porter Idaho Project contains two shear 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 strategically located at the head of the Portland Canal, a deep-water port with year-round, ice-free access.

Since the initial discovery of silver mineralization on Mt. Rainey in the early 1900’s, most of the work was focused on the Prosperity-Porter Idaho veins, where mineralization is hosted in six dipping parallel shear zones tracked on surface for 200 meters and one kilometer 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 Idaho 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. The foregoing estimates made use of an extensive database detailing results of both underground sampling programs as well as surface and underground diamond drilling and were prepared pursuant to CIM Standards on Mineral Resources and Reserves. Nevertheless, the reader is cautioned that a 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 an Historical Estimate, as defined in National Instrument 43-101. StrikePoint has not yet determined what work needs to be completed in order to upgrade or verify the Historical Estimate.

 

Transaction

 

As stated above, the Transaction was completed on August 15, 2018, whereby the Company acquired Mount Rainey Silver Inc. from Skeena for aggregate consideration of the issuance of an aggregate of 7,100,000 common shares and 2,400,000 special warrants (each a “Special Warrant”)  and the payment $1,500,000 in cash, of which $250,000 was paid at closing. The remaining cash payments due are secured via a pledge over the Mount Rainey shares, with the last payment being due on December 31, 2019, subject to acceleration in the event the Company completes a financing as outlined in the Company’s August 14, 2018 press release.

The Special Warrants have a five year term expiring on August 15, 2023 and are convertible into an additional common share of the Company for no additional consideration at such time and from time to time as will not result in Skeena holding more than 10% of the Company’s issued and outstanding shares.

The Company also granted to Skeena a 1% NSR on the Porter Idaho property, with the option to buy back 0.5% at any time for a price of $750,000.

All of the securities issuable to Skeena pursuant to the Transaction are subject to a four month hold period expiring on December 16, 2018.

 

 About the Golden Triangle

 

The Golden Triangle is an area of northwestern British Columbia that has seen extensive historic mining and prospecting activity, and has recently been the site of modern discoveries, including the Premier Gold, Snip and Eskay Creek Mines. The area has seen a resurgence in infrastructure investment which supports exploration activities, including upgraded transmission lines supplying clean, affordable and reliable hydroelectric power. Other recent improvements include highway upgrades, new ocean port infrastructure at the ice-free port of Stewart and the commissioning of three hydroelectric facilities.

 StrikePoint Gold is a well-financed gold exploration and development company. The company controls a portfolio of gold properties in the Yukon and throughout Canada.

The technical information contained in this news release has been approved by Andy Randell, P. Geo., Vice President, Exploration of StrikePoint Gold.  Mr. Randell is a qualified person as defined in NI 43-101.

For further information please visit our website: www.strikepointgold.com

 

ON BEHALF OF THE BOARD of STRIKEPOINT GOLD INC.

Shawn Khunkhun
CEO and Director

For more information, contact:

Shawn Khunkhun

604-602-1440

sk@strikepointgold.com

 

 

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.

STRIKEPOINT GOLD INC. ACQUIRES THE HANDSOME JACK PROPERTY ADJACENT TO THE PORTER IDAHO PROJECT IN STEWART, BRITISH COLUMBIA. UPDATE ON MOUNT RAINEY ACQUISITION

StrikePoint Gold Inc. (SKP:TSX.V)(STKXF:OTCQB) is pleased to announce that it has entered into an agreement dated for reference August 8, 2018 to acquire the Handsome Jack property from Trifecta Gold Ltd. (TSX.V:TG), adjacent to the Porter Idaho Property near Stewart, British Columbia (the “Transaction”).

 

The Handsome Jack Property

 

The Handsome Jack Property forms a contiguous land package adjacent to the eastern border of the recently acquired Porter Idaho property. The main known feature within the property is the Melvin Adit which was last worked in the 1920’s and is assumed to intersect the northerly strike extension of the Angelo Vein within the Porter Idaho Property. Ore from this adit returned up to 4,286 g/t silver during its production, but outside of this exploration work has been cursory. Both the Melvin and Angelo veins are visible at surface, but the area between then was historically obscured by ice and so the apparent alignment has never been prospected in the field.

Additionally, a two-day program in 1991 identified a 300 meter by 200-meter gossanous zone with anomalous silver, lead and zinc referred to as the GEE2 showing. Commercially available aerial imagery shows additional gossanous areas of interest within the Handsome Jack property that have never been explored, largely due to the extensive ice coverage that existed up until the last decade.

This is a strategic acquisition as it allows for expansive exploration of the area, including prospective parallel systems to Prosperity-Porter as well as the supposed connections with the Silverado Mine.

StrikePoint’s exploration plan for Handsome Jack represents the first comprehensive exploration campaign in the area for over thirty years. Systematic prospecting, geological mapping and sampling will be performed with an emphasis on areas recently uncovered by ice. It was not until 1982 that the northern extension of the Angelo vein was discovered in outcrop when it was exposed from under a receding glacier.

The Transaction

 

The terms of the Transaction are as follows:

 

  • $25,000 cash payment by StrikePoint to Trifecta
  • Issuance of 250,000 common shares of Strikepoint Gold Inc. to Trifecta
  • 1% NSR to Trifecta, with the right to buy back 0.5% for $500,000

 

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

 

 

Porter Idaho Project

 

The Porter Idaho Project contains two shear 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 strategically located at the head of the Portland Canal, a deep-water port with year-round, ice-free access.

Since the initial discovery of silver mineralization on Mt. Rainey in the early 1900’s, most of the work was focused on the Prosperity-Porter Idaho veins, where mineralization is hosted in six dipping parallel shear zones tracked on surface for 200 meters and one kilometer 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.

The Porter Idaho 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. The foregoing estimates made use of an extensive database detailing results of both underground sampling programs as well as surface and underground diamond drilling and were prepared pursuant to CIM Standards on Mineral Resources and Reserves. Nevertheless, the reader is cautioned that a 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 an Historical Estimate, as defined in National Instrument 43-101. StrikePoint has not yet determined what work needs to be completed in order to upgrade or verify the Historical Estimate.

 

Mount Rainey Acquisition

 

Further to the Company’s press release dated July 16, 2018, the Company will acquire the Porter Idaho project indirectly pursuant to a share purchase agreement dated July 13, 2018, as amended August 13, 2018, whereby the Company will acquire Mount Rainey Silver Inc. from Skeena Resources Ltd, subject to the approval of the TSX Venture Exchange. The Company expects to complete the acquisition on or around August 15, 2018.

The Company will acquire Mount Rainey Silver Inc. from Skeena for aggregate consideration of the issuance of an aggregate of 9,500,000 common shares and special warrants (each a “Special Warrant”)  and the payment $1,500,000, secured via a pledge over the Mount Rainey shares,  payable in cash in installments with the last payment being due on December 31, 2019.

The securities issuable to Skeena will be issued as a combination of common shares and special warrants, with Skeena receiving at closing such number of common shares as shall not cause them to become a holder of in excess of 10% of the issued and outstanding shares of the Company, with the balance of the securities due being issued as Special Warrants. Each Special Warrant will have a five year term and will be convertible into an additional common share of the Company for no additional consideration at such time and from time to time as will not result in Skeena holding more than 10% of the Company’s issued and outstanding shares.

Based upon the Company having 64,185,392 common shares currently outstanding, it is anticipated that Skeena will be issued 7,100,000 common shares and 2,400,000 Special Warrants upon the closing of the Mount Rainey transaction.

The cash payments due to Skeena are subject to acceleration in the event that the Company completes an equity financing during the payment period, such that in the event that Company raises net proceeds exceeding $1,000,000, it shall use 100% of such proceeds to complete any remaining cash payments due and in the event the Company raises net proceeds of less than $1,000,000, the Company shall use 50% of such proceeds for the early payment of the remaining cash payments.

The Company will also grant to Skeena a 1% NSR on the Porter Idaho property, with the option to buy back 0.5% at any time for a price of $750,000.

 

 

About the Golden Triangle

 

The Golden Triangle is an area of northwestern British Columbia that has seen extensive historic mining and prospecting activity, and has recently been the site of modern discoveries, including the Premier Gold, Snip and Eskay Creek Mines. The area has seen a resurgence in infrastructure investment which supports exploration activities, including upgraded transmission lines supplying clean, affordable and reliable hydroelectric power. Other recent improvements include highway upgrades, new ocean port infrastructure at the ice-free port of Stewart and the commissioning of three hydroelectric facilities.

 StrikePoint Gold is a well-financed gold exploration and development company. The company controls a portfolio of gold properties in the Yukon and throughout Canada.

The technical information contained in this news release has been approved by Andy Randell, P. Geo., Vice President, Exploration of StrikePoint Gold.  Mr. Randell is a qualified person as defined in NI 43-101.

 

For further information please visit our website: www.strikepointgold.com

 

ON BEHALF OF THE BOARD of STRIKEPOINT GOLD INC.

Shawn Khunkhun CEO and Director

For more information, contact:

Shawn Khunkhun

604-602-1440

sk@strikepointgold.com

 

 

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.