StrikePoint Gold Inc. Discovers Significant New Polymetallic Vein on Surface at the Porter Project with Assays up to 43.6 Ounces per Tonne Silver, 0.54 Ounces per Tonne Gold and 28.8% per Tonne Zinc
TSX VENTURE: SKP
Vancouver, British Columbia--(Newsfile Corp. - November 12, 2018) - StrikePoint Gold Inc. (TSXV: SKP) (OTCQB: STKXF) is pleased to announce the discovery of a significant new vein at the Porter Project near Stewart, British Columbia.
Significant Step Out from Historic Porter Resource
The new vein has been observed along a 275-meter strike on surface in an area that until the last decade would have been obscured by year-round snow cover. Thirty-two samples were collected from the area which lies approximately 800-meters to the west of the historic Porter resource area, with assays ranging from trace to 43.6 ounces per tonne silver, trace to 0.54 ounces per tonne gold. Significant zinc was also found, from trace to 28.8% per tonne.
StrikePoint CEO Shawn Khunkhun comments: "This is one of the most exciting discoveries following this seasons exploration work as it helps prove the existence of significant, untested mineral veins outside of the historical resource area. Our mandate was to prove upside for the deposit, and this discovery is a major step towards that goal."
The table below shows sample highlights:
|Sample ID||Ag (grams per tonne)||Au (grams per tonne)||Zinc (percent)|
|X956153||250||16.7 (0.54 tr.oz)||-|
|X956577||1355 (43.6 tr.oz)||0.51||28.8|
New Geological Potential
Samples were collected from a newly exposed shallow dipping quartz breccia vein along a 275-meter strike. Several other 'Flat Veins' have been observed during the summer, including high-grade samples from Silverado and the Porter areas. A preliminary interpretation connects these veins, forming one large structure that circles and cuts through Mount Rainey. The angles the veins dip at suggest that they converge and form a 'bowl' shaped fault that passes under the entire mountain, somewhat like the structures observed at Ascot Gold 'Premier Mine' located 25 kilometers to the northwest. This new 'flat vein' ranges from 30 centimeters to 1 meter in thickness, but the mineralization extends into the brecciated and altered halo around the contact sometimes for several meters.
This structure contrasts with the steeply dipping veins that were historically mined at Porter and Silverado that appear to have formed within fold hinges and shear zones.
The results are also highlighting a potential change in the geochemical potential of the veins, with gold becoming more significant to the west whilst silver dominates to the east.
2019 Drilling Target
This new vein is a significant target for drill testing in 2019. Diamond drilling will also allow exploration of the connecting area that is currently obscured by a shallow 650-meter wide patch of ice, all of which is covered under the existing exploration permit.
About the Golden Triangle
The Golden Triangle is an area of northwestern British Columbia that has seen extensive historic mining and prospecting activity, and has recently been the site of modern discoveries, including the Premier Gold, Snip and Eskay Creek Mines. The area has seen a resurgence in infrastructure investment which supports exploration activities, including upgraded transmission lines supplying clean, affordable and reliable hydroelectric power. Other recent improvements include highway upgrades, new ocean port infrastructure at the ice-free port of Stewart and the commissioning of three hydroelectric facilities.
StrikePoint Gold is a well-financed gold exploration and development company. The company controls a portfolio of gold and silver properties in the Yukon, British Columbia and throughout Canada.
The Company maintains a rigorous QA/QC program with respect to the preparation, shipping, analysis and checking of all samples and data from the properties. Quality control for field sampling and drill samples at the Company's projects covers the complete chain of custody of samples, including sample handling procedures and analytical-related work, plus the insertion of standard and blank materials. The QA/QC program also includes data verification procedures. ALS Laboratories in Vancouver, Canada (ISO 17025:2005 accreditation) assayed all grab samples from the current field program using fire assay and ICP Mass Spectroscopy methods.
The technical information contained in this news release has been approved by Andy Randell, P. Geo., Vice President, Exploration of StrikePoint Gold. Mr. Randell is a qualified person as defined in NI 43-101.
For further information please visit our website: www.strikepointgold.com
ON BEHALF OF THE BOARD OF STRIKEPOINT GOLD INC.
CEO and Director
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