Vancouver, British Columbia — September 16, 2019 StrikePoint Gold Inc. (“StrikePoint” or the “Company”) (SKP:TSX.V)(STKXF:OTCQB) is pleased to announce the first two drill holes from the 2019 program at the 100%-owned Willoughby gold-silver property located near Stewart BC in British Columbia’s prolific Golden Triangle. The Company has received final assay results from two of twelve core holes, from both the North and Wilby zones. Also, the Company is waiting for surface sample assays from its property-wide prospecting and channel sampling program.
“Our technical team’s excellent geological work has confirmed multiple-styles of gold-silver mineralization at Willoughby related to 1) lithological contacts, 2) vein and shear structures and 3) carbonate replacement,” said Shawn Khunkhun, StrikePoint’s President and CEO. “In particular, oriented core measurements have identified key syn and post-mineral faults, and most importantly, large folds. We eagerly await the remainder of our drill results from both the Wilby and North Zones, which will hopefully confirm and expand historic high-grade intercepts.”
Highlights from the initial two holes include:
- W19-090 intersected 4.50 meters averaging 3.96 g/t au and 74.55 g/t Ag at North Zone
- W19-099 intersected 11.70 meters averaging 3.87 g/t au and 3.52 g/t Ag in upper lens at Wilby Zone
- W19-099 intersected 16.55 meters averaging 1.66 g/t Au and 32.10 g/t Ag in lower lens at Wilby Zone
|Hole-ID||Zone||Azimuth/Dip||From (meters)||To (meters)||Length (meters)||Gold (g/t)||Silver (g/t)||Copper (%)|
The mineralized trend of the North Zone consists of east striking, moderately south dipping pyrite-sphalerite-galena veins intersecting with north striking shallowly east dipping fault zones with milled pyrite 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 these two structures may localise high-grade gold mineralisation. The first hole drilled this year is consistent with mineralisation reported from historic drilling. Notably this hole highlighted a mineralized area unsampled from previous drilling and demonstrates potential for a larger zone of mineralisation.
Table 1: Selected Exploration Drill Results, September 2019 (1)
|Hole-ID||Zone||From (meters)||To (meters)||Length (meters)||Gold (g/t)||Silver (g/t)|
(1) True thickness to be determined.
The project occurs along the eastern margin of the Cambria Icefield, approximately 7 kilometres 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 volcanic and 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 primarily 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.
Samples for the 2019 exploration program were all drill core were labelled, sawn in-half, with one-half placed in sealed bags and shipped with 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 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 upper limit of 10 ppm. Samples with gold assays greater than 10ppm are re-analyzed using a 30g fire assay fusion with 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 a 4-acid digestion (ICP-AES).
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.
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 portfolio of gold properties in the Yukon.
ON BEHALF OF THE BOARD OF DIRECTORS OF
STRIKEPOINT GOLD INC.
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 here of 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.