Category: Geochemistry

StrikePoint Gold Inc. (SKP:TSX.V)(STKXF:OTCQB) is pleased to provide surface results from its PDM Property in the Yukon Territory, and its implications in a new regional-scale structural trend that links the PDM, Golden-Oly and Nordic properties.

Highlights

• Surface grab samples at PDM returned grades of up to 9.8g/t gold, 2.8% copper and 245g/t silver.
• Samples collected from area of sheeted veins within intrusive material with visible copper mineralization, including native copper.
• Sheeted veins observed occurring throughout an area of 350m by 350m, with a maximum density of 30 veins over a 10m natural exposure
• Geological observations at PDM tie in to an overall structural trend that stretches for 78km and incorporates the Golden-Oly and Nordic properties, termed the “Seven Wonders Trend”.
• New model will help focus future targeting within a large project area.

Strikepoint Gold was active on the project between August 11^th and August 19^th  2017. Extensive mapping and surface sampling focused in the center of the property around the Spearhead showing, identified by the Yukon Geological Survey. A total of 159 grab samples were collected from the area, mainly from obviously mineralized zones, but also from further out to gather additional geochemical data.

The mineralogy observed in the field was primarily copper-based, including chalcopyrite, malachite, bornite, chrysocolla and native copper, along with other sulphides such as pyrite, arsenopyrite and pyrhottite. These mineralized samples returned from trace to 2.8% copper (with 15% of all surface samples collected returning greater than 0.2% copper), and from trace to 9.8g/t gold (with 10% of all surface samples returning greater than 0.5g/t gold). Silver was also found in samples, ranging from trace to 245g/t, with 13% of all samples returning grades more than 20g/t silver).

Geologists on site focused on an area of sheeted veins within a granodioritic stock that had densities up to 30 veins over a 10m exposure oriented between 50 to 60 degrees. The veins ranged from the millimeter to centimeter thickness and contained a variety of sulphides with quartz. The intrusive host rock also contains additional sulphide mineralization although at a lower rate of occurrence than within the veins.

The PDM property has had a history of exploration going back to 1967, although most of this has been basic soils and mapping with little consistency. Strategic Metals held the property between 2007 and 2008 and undertook a diamond drilling program, but it appears that each of the three holes missed the target area (see maps). The current land package is also more extensive than held in the past, so the additional data collected across a larger area has assisted in a broader understanding of the potential.

Mapping on the property shows that the veins are regularly orientated, at around 58 degrees (roughly northeast to southwest).

The “Seven Wonders” Trend

Post-season compilation of data has highlighted the existence of a structural trend that passes through PDM, Golden-Oly and the Nordic properties, for a total of 78km by 16km, and helps to explain certain mineralized features observed during the 2017 program.

These features fall within a model known as a ‘Strain Ellipse’ which shows how an area will deform when compressed through a regional event such as the accretional formation of the western coast of North America. This model is well understood, demonstrable and therefore predictable.

During compression of an area, the rocks are put under pressure forming a variety of faults, folds and other structures, some of which can become traps and fluid conduits. This model is showing the intrusions observed across the three properties have filled anticlinal folds within the sedimentary rocks, and then sympathetic off-shooting structures, known as Riedel Shears, have allowed mineralizing fluids to pass through them. These manifest as the sheeted veins observed at the Babylon and Colossus targets, the latter of which returned assays to 10.65g/t gold and 364g/t silver (refer to press release dated 10^th October 2017).

The identification of the Seven Wonders Trend will help with future targeting, including any drilling, on the property, as only certain structures that develop will also promote fluid flow and therefore mineralization. This is a key finding for the 2017 season as it will help focus work across a collection of large land packages and ensure exploration funds are spent the most wisely.

Shawn Khunkhun, CEO Strikepoint, says “This is another major step forwards by the Strikepoint team on this newly acquired portfolio. The discovery of mineralization at PDM is significant, but being able to tie this in to a larger geological model that covers additional company properties confirms our view that this area warrants further systematic exploration.”

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 review the Corporate Presentation on the StrikePoint Gold Inc. website for a more detailed, comprehensive review of the 2017 exploration program: http://www.strikepointgold.com/images/Yukon-Properties-Presentation.pdf

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. (SKP:TSX.V)(STKXF:OTCQB) is pleased to provide results from exploration activities on its Golden-Oly property, located in the North Canol region of the Yukon Territory.

Highlights

• Focus on one of seven geophysical and geochemical targets highlighted by Ryan Gold Corp. in 2012 on the Golden-Oly and PDM properties.
• Surface grab samples taken during the 2017 field season returned results from trace to 10.65g/t gold.
• Additional samples returned assays to 364g/t silver and 0.52% copper.
• The Colossus target is 3.3km in diameter, with multiple mineralized sheeted vein systems throughout this area.
• Geochemical profiling of the intrusive shows classic intrusion-related zonation, including central Au-Cu-Bi correlations with more distal Ag-Pb-Zn haloes.
• Colossus is a seen as a typical example of the six additional geophysical targets on both the Golden-Oly and PDM properties and has been studied in depth this season to gather data relevant to the entire property.

Strikepoint was active on the project between August 9th and August 21st 2017. Extensive mapping and sampling (76 grab samples) was completed during this time. The targets remain entirely untested by drill.

Golden-Oly Property

The Golden-Oly property parallels the North Canol Road in the east-central Yukon. The property covers an area of 45km by 30km, and has six targets identified through an aerial geophysical program in 2012. Strikepoint also holds the neighboring PDM property, 6km to the west of Golden-Oly, which contains an additional target zone with similar geology to those on Golden-Oly and so are often discussed as one larger land package.

The seven geophysical anomalies (Colossus, Zeus, Babylon, Alexandria, Giza, Artemis and Halicarnassus) have all been positively identified in 2017 as being granodioritic intrusions that are either partially exhumed to shallowly buried (identified through hornfelsed sediment cap).

These intrusions are similar in age and composition to the systems found to the north in the Selwyn Basin that have given rise to the Eagle Gold deposit (Victoria Gold) and the historic Keno Hill silver mines. Mineralization is primarily associated with sheeted veins or disseminated sulphides within the intrusive rock itself.

At Colossus, two vein types were observed on the project: quartz-arsenopyrite veins up to 5cm thick from within the granodiorite, and polymetallic veins up to 40cm wide around the periphery and into the surrounding country rock.

The quartz-arsenopyrite veins assayed from trace to 10.65g/t gold, and the polymetallic veins carried silver from trace to 364g/t. Gold is also found in the polymetallic veins from trace to 1.93g/t. Of the 76 samples collected, 16 ran more than 0.5g/t gold, 9 above 0.1% copper and 8 above 50g/t silver. Initial studies show that gold correlates strongest with bismuth which would indicate classic intrusion related gold system. Silver strongly correlates with lead, which is typical of the distal ‘cooler’ zones of mineralization or later stage overprinting. The presence of molybdenum in soils (from trace to 0.04% suggests that the thermal aureole above the pluton is far greater in size than the exposed intrusive material. This is a classic example of the geochemical zonation that makes these types of deposits favorable exploration targets, as well as the presence of shear zones and other structural elements that will help to focus mineralization.

The exposed granodiorite of the Colossus target is approximately 800m wide, but geochemical evidence suggests that the pluton has a diameter of at least 3.3km, and so represents a significant sized target. The geophysical work completed in 2012 confirms the sub-surface shape of the intrusion, having steeply plunging sides. It appears that Colossus is partially exhumed but much of the enriched contact zone and polymetallic systems are intact and may not be daylighting (and therefore accessible to surface sampling). It is worth noting that other targets that are not exposed on surface do not have any geochemical signature due to the sediment cap, estimated to be up to 50m in thickness. Of the seven targets, four are still buried and three are partially exhumed.

Shawn Khunkhun, Strikepoint CEO comments “the delineation of the Colossus target is a significant discovery within the Yukon portfolio. The fact that this has the potential to be one of seven large identical systems is extremely exciting and a significant benchmark in the Strikepoint story”.

Work was also undertaken on the Babylon target on the PDM property, and results are pending and will be released in due course. Sampling at Babylon was designed to provide a comparison between that intrusion and the one at Colossus, and therefore provide ‘proof of concept’ of the potential of each of the seven targets.

The next steps at Golden-Oly will be to plan a drilling program to test the target at depth, as well as additional mapping and sampling campaigns across the property

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 review the Corporate Presentation on the StrikePoint Gold Inc. website for a more detailed, comprehensive review of the 2017 exploration program: http://www.strikepointgold.com/images/Yukon-Properties-Presentation.pdf

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.