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
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