Category

Golden Oly

STRIKEPOINT GOLD INC. RELEASES RESULTS FROM PDM PROPERTY AND DISCOVERY OF ‘SEVEN WONDERS TREND’, A NEW REGIONAL-SCALE STRUCTURAL CORRIDOR

By | 2017, Geochemistry, Golden Oly, News

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 11th and August 19th  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 10th 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.”

20171019 SevenWondersShear AR
20171027 PDM 2017GrabsAu AR
20171027 PDM 2017GrabsCu AR
20171027 PDMHistoricalExploration AR
20171027 SevenWondersTrend AR

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. DISCOVERS UP TO 10.65G/T GOLD AND 364G/T SILVER ON THEIR GOLDEN-OLY PROPERTY, YUKON TERRITORY

By | 2017, Geochemistry, Golden Oly, News

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.

 

STRIKEPOINT GOLD 2017 UPDATE: EXPLORATION TARGETS FINALIZED FOR RECENTLY ACQUIRED YUKON PROPERTIES

By | 2017, Corporate, Golden Oly, Mahtin, News, Pluto

March 31, 2017, Vancouver, BC –Strikepoint Gold Inc. (TSX.V:SKP) (“Strikepoint” or the Company) is pleased to announce exploration targeting for the recently acquired Yukon Portfolio.

This package was acquired from IDM Mining (TSX.V:IDM) through: a Letter of Intent on December 21st, 2016; signed into Definitive Agreement on January 19th, 2017; and Completed Purchase Agreement on March 28th, 2017.

Strikepoint Gold purchased the properties from IDM Mining for $4,200,000 through a combination of $150,000 in cash and 10,500,000 shares. The Company is required to spend $1,500,000 on exploration expenditures during the 2017 season.

The company filed a NI 43-101 Technical Report on the Mahtin Property, Yukon on March 15th, 2017 and announced a $3,000,000 non-brokered private placement, concurrently closed $2,000,000 on March 23rd, 2017.

Our Opportunity

Three drill-ready properties have been selected based on exploration history, anomalous surface gold showings, and current understanding of the geological settings. Each target property is 100% owned by Strikepoint Gold Inc., and were formerly held by Ryan Gold Corporation who completed over $25,000,000 in exploration expenditures across the Yukon portfolio, which is a land package comprising of 14,031 claims defining 22 properties over 282,000 hectares.

Strikepoint is planning a ‘surgical’ exploration program for 2017, spending a minimum of $2 million on selected targets within the portfolio. The work will be focused on proving geological concepts highlighted in the extensive historical exploration work, and advancing them from anomalous regions to well defined targets and new discoveries.

Pluto

The Pluto property is in the Kluane region, and is one of the largest in this portfolio, approximately 40 x 30km in size. Pluto sits relatively close to the latest discoveries in the White Gold district, and is aligned along strike with this group of projects including; GoldCorp’s Coffee Project, which was acquired from Kaminak for $520M and Kinross’s White Gold Project, which was acquired from Underworld for $140M. Initial analysis of the geology seems to show a unique mineralizing system for the area; the formation of skarns in contact with large, regional ‘ring’ dyke volcanic features.

The presence of a shallowly dipping limestone unit in the local lithology has become a focus for mineralization when intercepted by dykes of rhyolitic / dacitic material. The skarns subsequently produce anomalous gold-in-soil results where they outcrop in the sides of the valleys, which indicates that there is volume potential of the mineralization, an hypothesis that will be drill tested in 2017.

Other information about the Pluto Property:

  • Highest gold-in-soil assay from the entire Yukon portfolio database at 15.43g/t Au;
  • 15,908 soils taken to date on property;
  • Grab samples returning grades upwards of 7.11 g/t Au;
  • Relatively unexplored region of the Yukon-Tanana Terrane, south of Goldcorp’s recently acquired Kaminak Coffee Project and 45 kilometers southwest of Rockhaven Resource’s Klaza project.

Mahtin

The Mahtin Property is synonymous in geological setting and mineralization style as Victoria Gold’s Eagle Gold Project, 40km away to the northeast. The model defining Eagle, an intrusion-related gold system, is characterized by mineralization focused in 070-trending/vertically-dipping sheeted quartz veins. Mineralized sheeted quartz veins are found on the Mahtin Property’s two intrusive stocks: Sprague Creek (3.6 x 1.5km) and Bos (4 x 1.1km) stocks.

A summary of the Mahtin Property includes:

  • Grab samples up to 15.01 g/t Au on the property;
  • 18,406 soils taken on property between 2010 and 2012;
  • Detailed 1:10,000 scale geological mapping across the main targets;
  • Radiometric, electromagnetic and magnetic airborne geophysical surveys;
  • Two untested intrusion-related gold hosted targets on the property;
    • Mineralized sheeted quartz veins returning grades upwards of 3.37g/t Au in grabs;
    • A possible third geochemical target is evolving in the south-western portion of the property that could be an additional intrusion related gold system.
  • Distances to surrounding projects which use the intrusion-related gold system model;
    • Immediately bordering AM Gold’s Red Mountain;
    • 5km east of Victoria Gold’s Clear Creek;
    • 50km west Golden Predator’s Brewery Creek;
    • 40km to the southwest of Victoria Gold’s Dublin Gulch

Golden-Oly 

Golden-Oly is another large assemblage of claims, measuring 40 x 25km in size. It lays along the North Canol Road and is close to the border with the North West Territories. Traditionally this area has been explored with a focus more on tungsten and zinc, but from the work undertaken across the project, there are several gold targets.

Airborne geophysics flown in 2012 highlighted six individual anomalies that correspond topographic highs in the field. Some of these are partially exposed cores of granodioritic intrusions, while others exhibit hornfelsing around buried plutons. This area is along the southern edge of the Selwyn Basin, and these plutons seem to be synonymous with the intrusion related gold systems we see at Mahtin (in the north of the Selwyn Basin). Soil sampling across these anomalies has further highlighted the anomalous gold-in-soil results, as well as having a geochemical fingerprint (Au-As-Bi) that is a known marker for these types of deposits.

Drilling in 2017 is designed to target one of these anomalies (the ‘Nuke’ intrusive) to further enforce the model, to assess grade potential, and as ‘proof of concept’ for the other five targets on the property.

The Golden-Oly Property:

  • Located near the historic ‘SEDEX’ discovery Tom-Jason Pb-Zn region of the Yukon Territory;
    • Surrounded by Selwyn Chihong Mining Ltd.’s Selwyn Project, Overland Resource’s Andrew Project and Constantine-Carlin Gold’s JV Yukon Au projects
  • Neighboring PDM property (100% Strikepoint owner) has another target that is synonymous with those seen at Golden-Oly.
  • Sheeted polymetallic veins returning grades up to 19.5g/t Au and >100 g/t Ag on Nug prospect;
  • Extensive anomalous gold-in-soils between 20ppb to 50ppb Au across the entire property that could be indicative of other deposit types on the property.

The Yukon Territory has reemerged as a world-class exploration district with recent discoveries and acquisitions in 2016, including: Golden Predator’s 3 Aces discovery, Goldcorp’s $520,000,000 purchase of Kaminak Gold’s Coffee project and Agnico-Eagle’s ongoing investment into the White Gold district. The Strikepoint Gold portfolio holds properties in these emerging and known gold districts representing several geological domains and potential for commodities beyond just gold.

For further information, please review the Corporate Presentation 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

NeithertheTSXVentureExchangenor itsRegulationServicesProvider(asthattermisdefinedinthepoliciesof theTSXVentureExchange)acceptsresponsibilityfortheadequacyor accuracyofthisrelease.