2019News

STRIKEPOINT INTERSECTS 72 G/T GOLD AND 55 G/T SILVER OVER 1.33 METERS AT WILLOUGHBY

By December 3, 2019 No Comments

Vancouver, British Columbia — December 3 2019 StrikePoint Gold Inc. (“StrikePoint” or the “Company”) (SKP:TSX.V)(STKXF:OTCQB) is pleased to announce the final drill results from the 2019 surface drilling program from the 100%-owned Willoughby property located near Stewart in British Columbia’s prolific Golden Triangle. The Company received final assays from the six remaining holes, three from the North Zone, and three from the Wilby Zones.  Assays from the previous six drill holes from the 2019 program were previously announced (See Strikepoint News Release, September 16 & October 10, 2019).

Highlights from the final assays results include:

  • W19-097: 5.29 g/t Au and 34.93 g/t Ag over 4.15 meters
  • W19-097: 22.30 g/t Au and 347 g/t Ag over 1.27 meters
  • W19-097: 72.2 g/t Au and 55 g/t Ag over 1.33 meters
  • W19-097: 4.91 g/t Au and 27.79 g/t Ag over 5.0 meters
  • W19-098: 2.45 g/t Au and 28.76 g/t Ag over 6.37 meters
  • W19-100: 3.26 g/t Au and 2.47 g/t Ag over 7.02 meters
  • W19-100: 2.16 g/t Au and 26.49 g/t Ag over 12.52 meters

 

StrikePoint CEO, Shawn Khunkhun, states, Our strong technical team, led by Project Manager Marilyne Lacasse had a very successful drill campaign at the high-grade Willoughby Property. In an incident-free, on time and on budget program, the team successfully met all objectives of the program. StrikePoint has validated the high-grade nature of gold mineralization, extended the known zones by over 100 meters, developed a strong geological model, and have encountered new high-grade surface mineralization on the margins of newly exposed ice-free areas. The company now plans to analyze all new information collected through drilling, mapping, and surface and channel samples with the historical work, which includes a database of over 119 diamond drill holes and over 1,300 surface samples in preparation for a drill program in 2020 ”

Phase I: North Zone Drilling

Drill hole W19-097 tested historical grade continuity and stacked mineralized zones. High-grade intervals of 72.2 g/t gold and 55 g/t silver over 1.33 meters, 22.30 g/t gold and 347 g/t silver over 1.27 meters, and 17.90 g/t gold and 22 g/t silver over 1.0 meter within 5.29 g/t Au and 34.93 g/t Ag over 4.15 meters infilled the historical intercepts and provided additional structural understanding from the oriented measurements collected during core logging.  Robust intervals of 4.91 g/t Gold and 27.79 g/t Silver over 5.0 Meters and 3.72 g/t Gold and 44.38 g/t Silver over 2.33 Meters highlighted new high-grade mineralized zones, 10 and 40 meters down-dip respectively from historical intercepts at the North Zone.

The North zone mineralized trend consists of repetitive stacked lenses of calcite-pyrite to pyrite-sphalerite-galena veins intersecting with a prominent north striking shallowly east-dipping fault zones with milled sulfides and an east striking moderately north dipping oxidized fault set with oblique reverse-sinistral kinematics within an early-Jurassic biotite-phyric diorite thought to be part of the ‘Goldslide Suite’ intrusive suite that hosts the adjacent Red Mountain Deposit. The intersection of the two fault structures may localize high-grade gold mineralization in areas.

Table 1: Phase I, North Zone Assay Results, December 3, 2019 (1)

 

Hole-ID Zone Azimuth/Dip From (meters) To (meters) Length (meters) Gold (g/t) Silver (g/t)
W19-095 North 350/-45 124.20 124.85 0.65 1.91 7
W19-096 North 327/-60 60.00 61.50 1.50 1.52 18.00
W19-097 North 130/-76 19.80 20.76 0.96 2.52 35.52
30.29 34.33 4.04 1.30 6.75
61.35 65.50 4.15 5.29 34.93
Incl. 64.50 65.50 1.00 17.90 22.00
  78.99 80.26 1.27 22.30 347.00
  91.17 92.50 1.33 72.20 55.00
  103.14 108.14 5.00 4.91 27.79
  145.65 147.98 2.33 3.72 44.38

(1) True thickness estimated to be between 70 and 100% of drill intervals.

Phase II: Wilby Zone Drilling

Drill holes W19-098, W19-100, and W19-101 stepped out 20 meters from the Northern Deep lense and confirmed historical grades. Significant intervals include 2.45 g/t Gold and 28.76 g/t Silver over 6.37 Meters, 3.26 g/t Gold and 2.47 g/t Silver over 7.02 Meters, 2.16 g/t Gold and 26.49 g/t Silver over 12.52 Meters, and 2.02 g/t Gold and 3.33 g/t Silver over 3.0 Meters. The results show broader lower grade intercepts than the North zone and are interpreted to be part of the same system. The Wilby zone is located south of and 400 meters lower in elevation than the North zone. Mineralization at Wilby consists primarily of replacement-style massive pyrrhotite-pyrite-sphalerite and minor galena and massive calcite-pyrrhotite-pyrite-sphalerite-galena veins hosted within the Lower Jurassic sediment package with distal interaction of biotite-phyric diorite sills.

Hole-ID Zone Azimuth/Dip From (meters) To (meters) Length (meters) Gold (g/t) Silver (g/t)
W19-098 Wilby 328/-50 95.50 98.50 3.00 1.66 4.00
122.49 128.00 5.51 2.62 0.01
158.00 161.00 3.00 1.62 2.40
167.93 174.30 6.37 2.45 28.76
Incl. 173.19 174.30 1.11 9.38 160
W19-100 Wilby 328/-45 121.19 127.00 5.81 1.33 0.00
145.00 147.00 2.00 3.15 2.90
161.60 168.62 7.02 3.26 2.47
Incl. 161.60 164.93 3.33 4.92 1.48
  170.62 183.14 12.52 2.16 26.49
W19-101 Wilby 69.50 72.50 3.00 2.02 3.33
142.50 145.50 3.00 2.39 16.33

(1) True thickness estimated to be between 70 and 100% of drill intervals.

Willoughby project

Willoughby is located along the eastern margin of the Cambria Icefield, approximately seven kilometers east of the advanced-staged Red Mountain Deposit that was recently acquired by Ascot Resources from IDM Mining. The property is underlain by Upper Triassic Stuhini rocks and Lower Jurassic Hazelton volcano-sedimentary rocks that have been intruded by an early Jurassic-aged hornblende-feldspar porphyry, similar to and potentially comagmatic with the Goldslide Intrusive suite at Red Mountain. Intrusive-related mineralized zones consist of primary pyrite with lesser pyrrhotite, sphalerite, galena, chalcopyrite, native gold. Eight gold and silver mineralized zones have been identified to-date over a one-kilometer strike-length mineralization trend.

QA/QC

Samples for the 2019 exploration program were all drill core labeled, sawn in half, with one-half placed in sealed bags and shipped with a chain of custody controls to the laboratory. The remaining drill core is subsequently securely stored in Stewart, BC. The company implements a rigorous Quality Control/Quality Assurance program, including the insertion of standards, blanks, and duplicate at regular intervals in the sample stream to monitor laboratory performance.

Drill core samples are submitted to SGS Canada Inc. facility in Burnaby, British Columbia, for preparation and analysis. The SGS facility is accredited to the ISO/IEC 17025 standard for gold assays, and all analytical methods include quality control materials at set frequencies with established data acceptance criteria. The entire sample is crushed, split into a representative sub-sample using a riffle splitter, and subsequently, 250g is pulverized. Analysis for gold is by 30g fire assay fusion with atomic absorption (AAS) finish with a lower limit of 0.005 ppm and an upper limit of 10 ppm. Samples with gold assays greater than 10ppm are re-analyzed using a 30g fire assay fusion with a gravimetric finish. Analysis for silver is by 30g fire assay fusion with gravimetric finish with a lower limit of 2ppm and upper limit of 100ppm. Samples with silver assays greater than 100ppm are re-analyzed using a gravimetric silver concentrate method. All samples are also analyzed using a 33 multi-elemental geochemical package by 4-acid digestion (ICP-AES).

Qualified Person

The Qualified Person for this news release for the purposes of National Instrument 43-101 is Marilyne Lacasse, P. Geo, Project Manager. She has read and approved the scientific and technical information that forms the basis for the disclosure contained in this news release.

About StrikePoint

StrikePoint Gold is a gold exploration company focused on building high-grade precious metals resources in Canada. The company controls two advanced stage exploration assets in BC’s Golden Triangle. The past-producing high-grade silver Porter Project and the high-grade gold property Willoughby, which is adjacent to Red Mountain. The company also owns a portfolio of gold properties in the Yukon.

ON BEHALF OF THE BOARD OF DIRECTORS OF
STRIKEPOINT GOLD INC.

“Shawn Khunkhun”

Shawn Khunkhun
Chief Executive Officer and Director

Statements in this release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed under the heading “Risk Factors” and elsewhere in the Company’s filings with Canadian securities regulators. Such information contained herein represents management’s best judgment as of the date hereof based on information currently available. The Company does not assume any obligation to update any forward-looking statements, save and except as may be required by applicable securities laws.

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.

 

For more information, please contact
StrikePoint Gold Inc.
Shawn Khunkhun, CEO and Director
T: (604) 602-1440
E: sk@strikepointgold.com
W: www.strikepointgold.com