Strikepoint Gold Inc. (SKP:TSX-V) (STKXF:OTCQB) is pleased to announced that exploration has started on the Mahtin Project, located approximately 40km northwest of the town of Mayo in the central Yukon Territory.
A team of eight exploration staff arrived has been mobilized to the area and are starting exploration work on the Property. Initial work will include detailed mapping and sampling over two core targets, as well as regional follow up on several other previously unexplored geochemical anomalies. This is the vanguard operation ahead of the arrival of the RAB drill to site within days.
The Mahtin Property is synonymous in geological setting and mineralization style as Victoria Gold’s Eagle Gold Project, 40km away to the northeast. Mineralization has been identified in association with two intrusive stocks: Sprague Creek (3.6 x 1.5km) and Bos (4 x 1.1km) stocks. It is generally understood that the best mineralisation in the Mayo area occurs along a ‘070’ degree trend along the northern contacts of Cretaceous-aged granodiorite intrusions, diagnostic qualities that are observed in both Mahtin stocks.
Historic exploration on site included the collection of 18,406 soil samples across the entire property, airborne geophysical surveys, mapping and sampling. The 2017 program has been carefully arranged to maximize return on expenditure while increasing understanding and minimizing environmental impact.
The plan includes aerial drone surveys of the property to collect regional geological / topographical data, track mounted RAB drilling, ‘backpack drill’ prospecting, detailed mapping and grab sampling of surface showings.
Mahtin North Target
Mahtin North consists of a copper-gold skarn unit in contact with a gold-arsenic sheeted vein intrusion. Sampling in 2012 returned assays of up to 15.05g/t gold in the peripheral skarn, while the stock itself remains as an untested soil anomaly with a geochemical signature which suggests intrusion related gold deposits (Au-As +/- Bi/Te), such as seen at Victoria Gold Corp. Eagle deposit.
The anomaly covers an area of 2km by 1.5km, and is currently open on all sides. The initial work plan includes expanding sampling to the north into previously unmapped skarns, highly detailed (1: 1,000 scale) mapping along the proposed drill area, and further investigation, mapping and direct sampling to test the mineral potential of the Sprague Creek stock itself.
A preliminary drill plan has been designed to test the highest-grade contact zone, consisting of eight RAB holes.
May-Qu is a subgrouping of claims within Mahtin on the southeast end of the property. The main feature is the ‘Bos Stock’; a Cretaceous-age granodiorite stock that has intruded into Hyland Group quartzite and schist. Samples collected in 2012 highlighted gold-bearing quartz-arsenopyrite sheeted veins within the granodiorite running up to 3.37 g/t Au from within the Bos Stock. The westerly ‘nose’ of the intrusion has become a focus for distal polymetallic veins that returned assays of up to 3.37g/t Au and 313g/t Ag. The combined mineralized target covered an area of 3km by 3km, and is open to the west and north.
Work on the target will include detailed mapping of the proposed drill targets, additional sampling of the Bos Stock to assess potential and sampling on to the west of the main stock (across the Josephine Fault) for additional polymetallic silver veins.
Staff from Strikepoint / SGDS Hive met with the Na-cho Nyak Dun First Nations on May 17th to discuss the upcoming work plan and possible community collaborations. Attendance to the Strikepoint Health and Safety Orientation day on May 26th 2017 was opened to and attended by band members. Strikepoint will continue to collaborate with the First Nations and the local Mayo community throughout the duration of the program, providing opportunity for both parties. Strikepoint has offered to donate aerial imagery and any environmental survey data to the peoples of the Na-cho Nyak Dun to assist in their understanding of their own Traditional Territories.
The Yukon Territory has remerged 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