StrikePoint Gold Expands Surface Exploration Program Including: Trenching and Channel Sampling
Vancouver, British Columbia (Newsfile Corp. - August 7, 2019) - StrikePoint Gold Inc. (TSXV: SKP) (OTCQB: STKXF) ("StrikePoint" or the "Company") announces that due to encouraging new exposures of sulphide mineralization and prospective alteration and intrusive rocks, an expanded surface sample program of hand-trenching and channel sampling has commenced at its 100%-owned Willoughby gold Property ("Property'"). Significant melting of alpine glaciers has occurred since the last significant exploration program over 20 years ago, particularly on the north and west sides of the Property. Willoughby is located near Stewart, BC in British Columbia's prolific Golden Triangle, seven kilometres east of Ascot Resource's advanced-stage Red Mountain Gold Project.
StrikePoint is currently drilling the Property; at the time of this release, six holes for 800m completed at the high-grade North Zone. 194 core samples from the initial two drill holes have been shipped for 'rush' analysis, as well an initial batch of 47 surface samples.
"New exposures of outcrop with strong pyrite and sphalerite mineralization, occurring as disseminated, stock, replacement and massive sulphide pods and veins is very encouraging to our technical team," said StrikePoint CEO, Shawn Khunkhun. "The presence of copper and zinc sulphides correlates with high-grade precious metal values at the North Zone where we are currently drilling. Expanding our surface exploration program should allow for a quick turnaround of assays prior to the end of the field season in the autumn. These areas are located in much gentler terrain than the steep topography where we are currently drilling."
Gold and silver mineralization at Willoughby are hosted within Jurassic volcanic and sedimentary rocks, associated with a 'Goldslide Suite' intrusive phase, similar to the adjacent Red Mountain Deposit.
The Project occurs along the eastern margin of the Cambria Icefield, approximately seven kilometres east of the advanced-staged Red Mountain Deposit that was recently acquired by Ascot Resources from IDM Mining and 20km northeast of StrikePoint's Porter Silver Property. The Willoughby 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 and. Eight gold and silver mineralized zones have been identified to-date over a one-kilometer strike-length mineralization trend.
QA/QC and Qualified Person
Samples for the 2019 program are collected by experienced geologists and technicians, placed in sealed bags and shipped to SGS Labs in Burnaby, BC for sample preparation, gold and multi-element ICP analysis. A Quality Control/Quality Assurance program including the insertion of Standards and Blanks has been implemented. The 2019 Exploration Program is performed under the supervision of Marilyne Lacasse, P.Geo, Qualified Person as defined by National Instrument 43-101. Ms. Lacasse has prepared and approved reviewed the technical data 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 OFSTRIKEPOINT GOLD INC.
Shawn KhunkhunChief 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.
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07.08.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.deLanguage: English Company: StrikePoint Gold Inc.
Canada ISIN: CA86332K2020 EQS News ID: 853639 End of News DGAP News Service