StrikePoint Gold Inc. Announces 2019 Phase 1 Drilling and Surface Exploration Program at the High-Grade Willoughby Gold Property
TSX VENTURE: SKP
Vancouver, British Columbia--(Newsfile Corp. - July 16, 2019) - StrikePoint Gold Inc. (TSXV: SKP) (OTCQB: STKXF) ("StrikePoint" or the "Company") is pleased to announce plans its Phase 1 2019 exploration program of 1,000 metres of diamond drilling on their 100%-owned Willoughby property located near Stewart BC in British Columbia's prolific Golden Triangle, seven kilometres east of Ascot Resource's advanced-stage Red Mountain Gold Project.
The objective of the Phase 1 program is to expand and test the North zone, following up and stepping out from multiple high-grade historic intercepts. Previous explorers, which included limited underground drifting and drilling was locally focused, dominantly within only 50 meters of surface. Gold and silver mineralization at Willoughby is hosted within early-Jurassic volcanic and sedimentary rocks, associated with a 'Goldslide Suite' intrusive phase, similar to the adjacent Red Mountain Deposit,
Selected highlights from the North zone historical drill hole intercepts include the following:
- 89-06: 53.21 g/t Au and 211.09 g/t Ag over 5.5 meters
- 94-15: 113.68 g/t Au and 121.77 g/t Ag over 3.0 meters
- 94-26: 20.08 g/t Au and 1,250.83 g/t Ag over 3.0 meters
- 95-36: 352.22 g/t Au and 194.64 g/t Ag over 2.9 meters
- U96-02: 120.30 g/t Au and 2,434.84 g/t Ag over 3.5 meters
StrikePoint CEO, Shawn Khunkhun, states: "The Golden Triangle is renowned for hosting some of the highest-grade gold deposits in the world. The Willoughby property's historic grades are exceptional. It's our goal to leverage the technical expertise of the newly appointed StrikePoint team to expand the high-grade historic intercepts. Previous exploration was limited to two areas, leaving an opportunity to increase the mineralization trend along strike and at depth. The recently identified geological interpretation at the adjacent Red Mountain Deposit of post-mineralization high-amplitude folds has helped develop a new interpretation at Willoughby of folded, tabular mineralization."
In conjunction with diamond drilling, a surface mapping and prospecting program will be conducted in area of recent ice recession along the one-kilometer strike-length known mineralized trend. The surface work will commence immediately with drilling scheduled to follow by month end.
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-ageaged 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.
Marilyne Lacasse, P. Geo., is the Qualified Person as defined by National Instrument 43-101 who 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 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.
For more information, please contact:
StrikePoint Gold Inc.
Shawn Khunkhun, CEO and Director
T: (604) 602-1440