Vancouver, BC – April 17, 2019 – Further to its news release dated March 20, 2019, StrikePoint Gold Inc. (SKP:TSX.V)(STKXF:OTCQB) is pleased to announce that it has closed on the acquisition of the Willoughby Property from ArcWest Exploration.
The property is situated about 30 kilometres east of Stewart, B.C., and 20 kilometres northeast of Strikepoint’s Porter property.
Key factors at Willoughby include:
- 4,625 metres of diamond drilling completed on the property in the early 1990s which defined mineralization over a one-kilometre strike length;
- This trend remains open on either end, and recent deglaciation has exposed prospective ground that would have been inaccessible to previous explorers;
- Historic drill results have included 20.5 metres grading 24.99 grams per tonne gold and 184.22 grams per tonne silver, and 11.7 metres grading 40.11 grams per tonne gold and 109 grams per tonne silver, both from the North zone target;
- 13.0 metres grading 13.37 grams per tonne gold and 63.43 grams per tonne silver drilled in the Main zone target;
- Additional five target zones on the property have all returned significant gold and silver grades in drill core or channel samples at surface;
- The site is drill ready and serviceable via the company’s existing camp at the Porter project. Exploration permits are under way, having been started by the previous property owners;
- The closest nearby analogue to Willoughby is the Red Mountain deposit located seven kilometres to the west. Red Mountain has a National Instrument 43-101 mineral resource estimate of 1,827,900 tonnes of measured resources grading 8.92 grams per tonne gold, 943,400 tonnes of indicated resources grading 5.95 grams per tonne gold for a total of 704,600 ounces gold combined (June, 2018, resource update; Arsenault/Hamilton). Like Red Mountain, mineralization is focused along the contact with Jurassic-aged Goldslide intrusive rocks. Mineralization hosted on the adjacent properties is not necessarily indicative of the mineralization hosted on the Willoughby property. The company is not able to verify the results of the Red Mountain deposit and there can be no assurances that the company will obtain similar results from exploration activities on the Willoughby property.
The securities issued as part of this transaction with bear a restrictive legend expiring on August 16, 2019.
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:
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.