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Junior Mining Precious Metals Strike Point Gold

StrikePoint Gold’s Willoughby Surface Sampling Identifies Strike Extensions at NN and Willow Zones with High Grade Samples Including 49 g/t Gold and 777 g/t Silver and 8.59 g/t AuEq over 3 Metres at Edge Zone

Vancouver, British Columbia–(Newsfile Corp. – April 12, 2022) – StrikePoint Gold Inc. (TSXV: SKP) (OTCQB: STKXF) (“StrikePoint” or the “Company”) is pleased to announce results from surface channel sampling as well as reconnaissance grab samples collected during the 2021 exploration program at the 100%-owned Willoughby gold-silver property, located east of the community of Stewart in British Columbia’s prolific Golden Triangle. The purpose of the channel sampling is to provide quality surface assay data over the surface expression of mineralized zones that could potentially be used for a NI43-101 Mineral Resource Estimate for the property and to refine diamond drill targeting for 2022 field season.

Highlights of the remainder of 2021 surface sampling at Willoughby Include:

  • 4.74 g/t AuEq over 7.0 metres, including 8.60 g/t AuEq over 3.0 metres in channel at Edge Zone
  • 11 grabs from NN Zone average 4.28 g/t Au, 159.1 g/t Ag including 17.45 g/t Au, 576 g/t Ag
  • 6 grabs from Willow Zone average 9.91 g/t Au, 151.4 g/t Ag including 49.00 g/t Au and 777 g/t Ag

StrikePoint’s CEO, Shawn Khunkhun, states, “In addition to providing increased definition at the known gold-silver Zones at Willoughby, surface sampling during 2021 at the NN area along strike from the North Zone underground workings has extended total strike of the series of mineralized Zones an additional 113 metres to the north on the Willoughby nunataq. As well, the high-grade gold and silver values and multiple high-grade structures 100 meters south of our Willow Zone drilling are priority drilling targets for our 2022 drilling season. Of particular interest are the high silver assays from these areas.”

2021 Willoughby Channel Sampling

These results include seven continuous series of channel samples from steep terrain at the Edge Zone, collected by experienced climbing geologists and technicians using a hydraulic chisel, from well-exposed bedrock hosting disseminated to massive mineralization. The samples cover approximately 40 metres of strike and 20 metres of vertical relief on steep exposure. This sampling suggests that the Edge Zone true thickness ranges from 3 to 8 metres. Coupled with drilling, this sampling suggests dimension of 16 by 48 metres starting at surface.

The Edge Zone samples, along with channel sampling results from the Icefall zones on the property (News release December 15, 2021, 3.38 g/t AuEq over 15.0 metres including 12.53 g/t AuEq over 2.0 metres in channel W21-CH-004), provide representative assay data from surface expressions projected up-dip and along strike to the north of previous and 2021 drilling (News Release March 2, 2022, 2.76 g/t AuEq over 6.50 metres and 10.16 g/t AuEq over 1.5 metres in hole W21-117).

The Edge zone is one of the least tested of the seven significant mineralized areas on the Willoughby nunataq. The channel sampling at the Edge Zones confirmed continuous gold and silver mineralization along all seven channel lines in 74 samples with values of up to 18.50 g/t gold and 31.1 g/t silver. Five channel sampling lines intersected the mineralized horizon perpendicular to the strike of the Edge Zone (W21-CH-008, W21-CH-009, W21-CH-011 to W21-CH-013), and two are along strike (W21-CH-010, W21-CH-014).

Figure 1. Edge zone 2021 Channel Sampling Line location in relation with the 2021 drilling on the Willoughby nunataq.

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The gold-silver mineralization consists of replacement-style sulphides within permeable lapilli tuff strata of the Early Jurassic lower Hazelton group. Mineralization is concordant with bedding and ranges from semi-massive to massive pyrite with accessory sphalerite-chalcopyrite. Both W21-CH-008 and W21-CH-013 intersected the mineralized horizon perpendicularly. W21-CH-008 returned 4.74 g/t AuEq over 7.0 metres, including 8.60 g/t AuEq over 3.0 metres. W21-CH-013 is the northernmost channel sampling line, stepped out 48 metres from the previously released 2021 drilling at the Edge zone and returned 3.26 g/t AuEq over 9.0 metres. Both W21-CH-010 and W21-CH-014 are parallel to the mineralization testing continuity along strike. W21-CH-010 returned 3.01 g/t AuEq over 11.0 metres, and W21-CH-014 returned 3.48 g/t AuEq over 18.0 metres, extending the outlined Edge zone mineralization in the 2021 drilling twenty-seven metres further to the north.

Hole-IDZoneFrom (metres)To (metres)Length (metres)Gold (g/t)Silver (g/t)AuEq (g/t)
W21-CH-008Edge1.008.007.004.656.134.74
incl.1.004.003.008.4510.378.60
W21-CH-009Edge0.001.001.001.833.401.88
W21-CH-010Edge0.0011.0011.002.944.553.01
W21-CH-011Edge1.003.002.001.903.551.95
W21-CH-012Edge0.0013.0013.001.412.221.44
incl.0.004.004.002.882.802.92
W21-CH-013Edge1.0010.009.003.213.173.26
W21-CH-014Edge0.0018.0018.003.387.483.48

Table 1: Highlight channel sampling intercepts at the Edge zone – Willoughby project.
Gold equivalent grade calculated using a 70:1 Ag: Au ratio.
**True widths are estimated to be 70% at this time. All widths reported are channel widths.

Channel-IDEastingNorthingAzimuthLength (metres)
W21-CH-008463488.06203177.0759.00
W21-CH-009463502.06203170.0785.00
W21-CH-010463488.46203168.212911.00
W21-CH-011463476.06203162.0686.00
W21-CH-012463490.06203157.09813.00
W21-CH-013463485.06203196.09012.00
W21-CH-014463487.06203172.016018.00

Table 2: Willoughby property – Edge Zone Channel Sampling locations and orientations (NAD83 Zone 9).

2021 Willoughby Grab Samples

The remainder of the 2021 select grab samples results were also received from the North-North and Willow zones. The Willow zone is the northern most zone on the property located 800 metres due northeast of the Willoughby nunataq. Surface sampling returned high grade values ranging from 0.07 to 49.0 g/t Au, averaging 9.91 g/t Au and 3.3 to 777 g/t Ag, averaging 151.4 g/t Ag in a quartz-carbonate veins with massive pyrite-sphalerite within a Jurassic tuff breccia. This mineralization is analogue to that intersected in the 2021 drilling and is located 100 metres south of any drilling completed in the area.

Figure 2. Willow zone surface grab sample location with the gold values displayed in g/t. Annotated texts highlight select anomalous gold assays.

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The NN Zone is located at the northernmost end of the Willoughby nunataq, 150 metres north of the North zone. Surface reconnaissance outlined an extension of a wide mineralized north-northwest striking structure comparable to the North fault. These steeply dipping structures are linked to bonanza grade mineralization at the North zone to the south. A total of 11 grab samples were collected, ranging from 0.38 to 17.45 g/t Au, averaging 4.28 g/t Au, and 2.1 to 598.0 g/t Ag, averaging 159.1 g/t Ag. Highlights include 17.45 g/t Au and 576 g/t Ag in sample B0016021 and 13.60 g/t Au and 598 g/t Ag in sample B0016022.

Figure 3. Massive pyrite mineralization within north northwest fault at the NN zone.

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Figure 4. NN zone surface grab sample location with the gold value displayed in g/t. Annotated texts highlight select anomalous gold assays.

To view an enhanced version of Figure 4, please visit:
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Sample NumberProspectEastingNorthingAu AA23 ppmAu GRA21 ppmAg ME-ICP61 ppmAg GRA21 ppm
B0016015North-North6203423.0463242.00.70NC7.3NC
B0016016North-North6203426.0463248.00.39NC12NC
B0016017North-North6203405.0463264.00.98NC6.5NC
B0016018North-North6203414.0463264.02.00NC18.1NC
B0016019North-North6203421.0463262.01.06NC28.3NC
B0016021North-North6203425.0463269.010.0017.45100576
B0016022North-North6203430.0463265.010.0013.60100598
B0016023North-North6203433.0463268.06.18NC100418
B0016024North-North6203442.0463274.03.84NC74.8NC
B0016053Willow6204219.0463422.07.12NC60NC
B0016054Willow6204203.0463425.02.12NC29.1NC
B0016055Willow6204146.0463482.00.79NC13NC
B0016056Willow6204124.0463531.00.37NC25.8NC
B0016057Willow6204097.0463525.010.0049100777
B0016058Willow6202939.0463721.00.07NC3.3NC

Table 3: Willoughby property – North-North & Willow zones Exploration grab samples (NAD83 Zone9).

These encouraging results strengthen the mineralization continuity along the outlined 1,300 metres Willoughby mineralized trend and provide a cost-effective way to test and extend exploration targets on the property. Future work in 2022 is planned to follow up on the mineralization extension at both the Willow, Edge and the North-North zones.

Willoughby Project

The project occurs along the eastern margin of the Cambria Icefield, approximately seven kilometres east of the advanced-stage Red Mountain Deposit owned by Ascot Resources. Upper Triassic Stuhini rocks and Lower Jurassic Hazelton volcano-sedimentary rocks underlay the property, subsequently intruded by an early Jurassic-aged hornblende-feldspar porphyry, potentially comagmatic with the Goldslide Intrusive suite at the nearby Red Mountain deposit. Intrusive-related mineralized zones consist of primary pyrite with lesser pyrrhotite, sphalerite, galena, chalcopyrite and native gold. Eight gold and silver mineralized zones have been identified to date over a one-kilometre strike-length mineralized trend.

QA/QC

Using a hydraulic chisel, an approximate 2 by 2-centimetre channel was sampled continuously along 1 metre sample stations. If the hydraulic chisel was incapable of retrieving a chip from a specific location, a hand chisel was used to assist with the chipping within the limits of the 1 metre station. Chip data observation data were recorded and digitized in the field using MX Deposit, directly sampled into a polyurethane bag, and transported from the field to secure storage in Stewart.

Surface samples for the 2021 exploration program were labelled and shipped to the laboratory using industry standard chain of custody controls. In addition, the company implements a rigorous Quality Control/Quality Assurance program, including the insertion of Standards, Blanks, and Duplicates at regular intervals in the sample stream to monitor laboratory performance.

Samples were submitted to the ALS Laboratory facility located in North Vancouver, British Columbia, for preparation and analysis. The ALS 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-samples 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 higher 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 National Instrument 43-101 is Andrew Hamilton, P. Geo, technical advisor to StrikePoint. He 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, 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

For more information, please contact:
StrikePoint Gold Inc.
Shawn Khunkhun, CEO and Director
T: (604) 609-5137
E: sk@strikepointgold.com
W: www.strikepointgold.com

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/120110

Categories
Junior Mining Strike Point Gold

StrikePoint Gold Extends Willoughby Mineralized Trend: 9.88 metres of 4.95 g/t Au Equivalent

Vancouver, British Columbia–(Newsfile Corp. – March 2, 2022) – StrikePoint Gold Inc. (TSXV: SKP) (OTCQB: STKXF) (“StrikePoint” or the “Company”) is pleased to announce the results from the remaining 13 holes of the 2021 diamond drill program at the 100%-owned Willoughby property, located near Stewart in British Columbia’s prolific Golden Triangle. The 2021 drilling program was designed to further narrow the gaps between the seven high-grade mineralized zones within the Willoughby nunataq and explore northeast, one kilometre across the Willoughby glacier at the Willow zone which displays high-grade analog mineralization. Assays were previously announced from the initial four drill holes on December 9, 2021. Assays are still pending from surface sampling on the Willoughby Property. In 2021, 4,050 metres of drilling was completed in seventeen holes as well as 129 metres of surface chip channel samples were completed at both the Icefall and Edge zones following up on 2020 surface results and in-field observations.

Drilling was successful in extending the 1,300m long high-grade gold and silver mineralization trend on the northern end at the Willow Zone, the northernmost limit of drilling to date on the Property. Mineralization is wide open for expansion. Highlights from the Willow Zone include:

  • W21-115 : 4.95 g/t AuEq over 9.88 m and 10.93 g/t AuEq over 1.50 m within a broader interval of 2.76 g/t AuEq over 26.50 m
  • W21-116 : 11.26 g/t AuEq over 3.00 m and 2.61 g/t AuEq over 4.00 m
  • W21-123 : 3.07 g/t AuEq over 3.00 m
  • W21-124 : 37.19 g/t AuEq over 0.50 m

Drilling on the Willoughby nunatak bridged the gap in mineralization between the Wilby and North zones and confirmed continuity of the mineralized horizon at the Edge zone. Edge zone results include:

  • W21-117 : 2.76 g/t AuEq over 6.50 m and 10.16 g/t AuEq over 1.50 m within a broader interval of 1.92 g/t AuEq over 19.50 m
  • W21-118 : 2.52 g/t AuEq over 3.00 m within a broader interval of 0.97 g/t AuEq over 10.00 m
  • W21-119: 3.25 g/t AuEq over 3.50 m within a broader interval of 1.54 g/t AuEq over 9.00 m
  • W21-120: 3.38 g/t AuEq over 3.00 m within a broader interval of 1.20 g/t AuEq over 17.00 m

“Willoughby continues to deliver discoveries of different styles of gold-silver mineralization. The concentration of sulphides encountered at Willow is truly impressive, even by Golden Triangle standards. Receipt of these high-grade assays at the margins of the replacement-style massive sulphides will allow us to target expansion drilling to the north, south, and down-dip mineralization during the 2022 field season,” said Shawn Khunkhun, President and CEO of StrikePoint Gold.



Figure 1. Overview Map of Willoughby’s Mineralized Zones

To view an enhanced version of Figure 1, please visit:
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Willow Zone

The Willow zone is the northernmost limit of mineralization drilled on the Willoughby property to date, separated by approximately 850 metres from the North Zone by the Willoughby glacier. In 2021, seven holes were completed from two pads in the Willow Zone. The drilling explored extensions of the mineralization trend, followed up on the 2020 surface results and an outlined north-northwest striking, steep westerly dipping structure analog to the faults observed at the Willoughby nunataq linked with bonanza gold and silver grades.



Figure 2. 2021 Willoughby Drilling – Willow zone drill holes plan view map

To view an enhanced version of Figure 2, please visit:
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The drilling defined mineralization at the Willow zone further to the northeast of the known zone and confirmed close similarities with the mineralization observed on the nunataq in the five other mineralized zones (Wilby, Edge, Wilkie, Upper & Lower Icefall). Drill Hole W21-115 intersected 4.95 g/t AuEq over 9.88 metres and 10.93 g/t AuEq over 1.5 metres, within a broader interval of 2.76 g/t AuEq over 26.50 metres drilling northeast under the Willoughby ice sheet extending the Willoughby mineralization trend 150 metres to the north-east. From the second drill pad, drill hole W21-122 to W21-124 targeted mineralized contact between the Jurassic volcanic rock package and the dioritic intrusion. W21-123 intersected 3.07 g/t AuEq over 3.00 metres, and W21-124 intersected 37.19 g/t AuEq over 0.50 metres. Mineralization observed consisted of massive pyrite with sphalerite-chalcopyrite in limestone near-surface and intersected gold mineralization occurring proximal to Goldslide intrusion suite linked to mineralization at Ascot Resources’ Red Mountain Deposit, located seven kilometres west of Willoughby. The intrusive dykes to sills are interpreted to pool gold-bearing sulphides in the permissive Jurassic-aged rocks creating wide areas of disseminated gold-silver mineralization.



Figure 3: Massive replacement-style pyrite, sphalerite, chalcopyrite in contact with dioritic intrusive analog to the Goldslide intrusive at the Willow Zone in hole W21-115 grading 4.95 g/t AuEq over 9.88 m.

To view an enhanced version of Figure 3, please visit:
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W21-116 intersected 11.26 g/t AuEq over 3.00 metres and 2.61 g/t AuEq over 4.00 metres mineralized intervals are within a fault breccia with strong pyrite cement interpreted to be the down-dip extension along strike of the north-northwest fault mapped at the surface during the 2020 surface program. These mineralized intercepts extend the Willow north structure, 100 metres southeast under the Willoughby ice sheet.



Figure 4: Fault breccia with strong pyrite cement in hole W21-116 grading 2.08 g/t AuEq over 10.00 m

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Edge Zone

At the Edge zone, significant gold mineralization was encountered in five drill holes completed from the same pad, 1000m south of Willow. The Edge zone is one of seven significant mineralized areas discovered to date on the Willoughby nunataq.



Figure 5. 2021 Willoughby Drilling – Edge zone drill holes plan view map

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The 2021 drilling program at the Edge Zone was designed to step out from and extend gold mineralization along strike from the high-grade encountered during the 2020 surface program (news release December 14, 2020, up to 37.3 g/t Au & 263 g/t Ag in new areas of massive sulphide and veining). W21-117 intersected 2.76 g/t AuEq over 6.50 metres and 10.16 g/t AuEq over 1.5 metres within a broader interval of 1.92 g/t AuEq over 19.50 metres and W21-120 intersected 3.38 g/t AuEq over 3.00 metres within a broader interval of 1.20 g/t AuEq over 17.00 metres. The mineralization intersected in these holes consists of replacement-style sulphides within permeable lapilli tuff strata of the Early Jurassic lower Hazelton group. Mineralization is concordant with bedding and ranges from semi-massive to massive pyrite with accessory sphalerite-chalcopyrite. Goldslide suite dioritic intrusive sills are observed in proximity to the zone.

Figure 6. Edge zone mineralization in hole W21-120 on the Willoughby nunataq grading 3.38 g/t AuEq over 3.00 m within a broader interval of 1.20 g/t AuEq over 17.00 m.

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Future drilling planned for 2022 will step out in all directions from 2021 intercepts at Willow zone and along the mineralized trend on the Willoughby nunataq with a focus between Icefall, Wilby, and Edge zones. Exploration drilling will focus on the unexplored gap between Willow and the North zone as the extension of the mineralized trend to the south of the property.

Hole-IDZoneFrom
(metres)
To
(metres)
Length
(metres)
Gold
(g/t)
Silver
(g/t)
AuEq
(g/t)
W21-112IcefallAbandoned at 8.00 m due to poor ground conditions
W21-113Willow3.005.002.001.0417.501.29
99.0099.500.504.4932.204.95
W21-114Willow40.6061.0020.400.413.310.46
74.0075.501.501.262.401.30
W21-115Willow5.006.501.500.6118.200.87
24.5051.0026.502.3926.262.76
26.0027.501.508.82148.0010.93
36.1246.009.884.4435.724.95
W21-116Willow2.0012.0010.001.7721.772.08
23.0027.004.002.1532.052.61
75.5078.503.008.54190.6011.26
W21-117Edge27.0032.005.000.763.960.82
67.5087.0019.501.901.841.92
67.5074.006.502.713.842.76
85.5087.001.510.150.8010.16
W21-118Edge71.0081.0010.000.951.880.97
71.0074.003.002.473.972.52
W21-119Edge69.0078.009.001.521.141.54
74.5078.003.503.222.113.25
W21-120Edge69.0086.0017.001.181.031.20
73.0076.003.003.333.103.38
W21-121Edge74.5075.501.001.661.501.68
74.5084.009.500.370.670.38
W21-122Willow113.50115.001.500.840.700.85
139.00140.001.002.853.202.90
W21-123Willow103.50106.503.003.014.483.07
173.50175.001.501.330.601.34
W21-124Willow102.50103.000.5036.9020.0037.19
150.84153.502.660.7710.420.92

Table 1: Highlight drill intercepts from oriented core diamond drilling at the Willoughby projectGold equivalent grade calculated using a 70:1 Ag: Au ratio.
**True widths are not known at this time. All widths reported are drilled widths.

Hole IDEastingNorthingElev.AzimuthDipLength
W21-11262028484633721588150-758
W21-11362042054635201845200-55398
W21-11462042054635201845235-65216
W21-1156204198463520177525-60203
W21-11662041984635201775145-65301
W21-1176202874463429160070-65200
W21-1186202874463429160075-65200
W21-1196202874463429160080-65208
W21-1206202874463429160085-65219
W21-1216202874463429160090-65201
W21-12262042844634751812205-65204
W21-12362042844634751812210-55181.28
W21-12462042844634751812210-45161

Table 2: Willoughby property drill hole locations and orientations (NAD83 Zone 9)

2021 Porter Silver property drill results

The 2021 drilling program at the Porter Silver property was designed to extend and confirm mineralization identified historically and in 2018 drilling at the D and Prosperity veins. In 2021, 799.1 metres of drilling in six holes were attempted. Due to a staffing shortage and difficult geotechnical conditions consisting of near-surface conjugate joint sets related to glacial unloading and fault zones, both of which caused significant core blocking, only four holes were drilled, none of which adequately tested their intended targets. The number of fractures typically diminishes deeper into the mountain at Porter and elsewhere in the Stewart area. These highly prospective targets adjacent to the historic high-grade silver mines will be tested by drill holes that will be reoriented to be more perpendicular to these prominent joint sets.

Hole-IDZoneFrom
(metres)
To
(metres)
Length
(metres)
Gold
(g/t)
Silver
(g/t)
PIP21-023D-vein & Blind103.00104.101.100.0349.61
PIP21-023AD-vein & BlindAbandoned at 37.00 m due to poor ground conditions
PIP21-024D-vein & BlindNo significant values
PIP21-025D-vein & Blind159.50161.802.300.0553.51
161.30161.800.500.09149.00
PIP21-026Prosperity65.5069.003.500.0140.66
68.5069.000.500.03137.00
PIP21-027ProsperityNo significant values

Table 3: Highlight drill intercepts from oriented core diamond drilling at the Porter project
**True widths are not known at this time. All widths reported are drilled widths.

Hole IDEastingNorthingElev.AzimuthDipLength
PIP21-023A6195962441782159865-8037
PIP21-0236195962441782159865-80153.1
PIP21-0246195962441782159865-83255
PIP21-0256195962441782159840-78215
PIP21-02661958454415241663110-6680
PIP21-02761958454415241663110-7159

Table 4: Porter Silver property 2021 drill hole locations and orientations (NAD83 Zone 9N)

Willoughby project

Willoughby is located along the eastern margin of the Cambria Icefield, approximately seven kilometres east of the Ascot Resources advanced-staged Red Mountain Deposit. Upper Triassic Stuhini rocks underlie the property and Lower Jurassic Hazelton volcano-sedimentary rocks that have been intruded by an early Jurassic-aged hornblende-feldspar porphyry, like and potentially comagmatic with the Goldslide Intrusive suite at Red Mountain deposit. Structurally controlled and replacement-style mineralized linked with intrusive input 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-kilometre strike-length mineralization trend.

Porter project

The Porter Project contains two shears-hosted silver-rich vein systems: the Silverado and Prosperity-Porter Idaho. The showings are 2.35 km apart, located on opposite sides of Mt. Rainey, overlooking the town of Stewart. The Project is located strategically at the head of the Portland Canal, a deep-water port with year-round, ice-free access.

The initial discovery of silver mineralization on Mt. Rainey occurred in the early 1900s. Prosperity-Porter Idaho veins were the focus of the initial work. The mineralization is hosted in six parallel dipping shear zones, traced 200 metres on the surface and one kilometre down dip with widths between 2 and 13 metres. The vein system was mined between 1929 and 1931 and produced 27,123 tonnes with recovered grades of 2,542 g/t silver (73.8 oz/ton) and 1 g/t gold (yielding approximately 2.2 million ounces of silver). Direct shipping ore was transported to the port at Stewart via aerial tramway.

QA/QC

Samples for the 2021 exploration program were all NQ-sized (47.6 mm diameter) 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 securely stored in Stewart, BC. The company implements a rigorous Quality Control/Quality Assurance program, including the insertion of standards, blanks, and duplicates at regular intervals in the sample stream to monitor laboratory performance.

Drill core samples are submitted to the ALS Geochemistry facility in Terrace, British Columbia, for preparation and subsequently to the ALS Geochemistry facility in North Vancouver for analysis. The ALS 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 with a gravimetric finish. All samples are also analyzed using a 33-element geochemical package utilizing 4-acid digestion and ICP-AES. Samples with silver results of greater than 100ppm are re-analyzed using a 30g fire assay with a gravimetric finish. Samples with copper, lead and zinc values of over 10,000ppm are re-analyzed using a four-acid digestion and an ore-grade ICP-EAS analysis.

Qualified Person

The Qualified Person for this news release for the purposes of National Instrument 43-101 is Andrew Hamilton, P. Geo, technical advisor. He 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, 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) accept 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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/115340

Categories
Energy Exclusive Interviews Junior Mining Strike Point Gold

StrikePoint Gold: 2 High-Grade Gold, Silver Projects

StrikePoint Gold: TSX.V: SKP | OTC: STKXF

Website: https://strikepointgold.com/

Corporate Presentation: https://1oe0o61b3uzr3rriy44h5u5s-wpengine.netdna-ssl.com/wp-content/uploads/2021/07/SKP_CorpDeck_20210705.pdf

Contact: Jasper Gatrill (778) 708 0509 jg@strikepointgold.com

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Junior Mining Precious Metals Strike Point Gold

StrikePoint Reports 11.5 g/t Au and 69.4 g/t Ag over 2.0 metres in Channel Samples at Willoughby.

Vancouver, British Columbia–(Newsfile Corp. – December 16, 2021) – StrikePoint Gold Inc. (TSXV: SKP) (OTCQB: STKXF) (“StrikePoint” or the “Company”) is pleased to announce the results from surface channel sampling as well as reconnaissance grab samples collected during the 2021 exploration program at the 100%-owned Willoughby gold-silver property, located east of the community of Stewart in British Columbia’s prolific Golden Triangle. The purpose of the channel samples is to provide quality surface assay data over the surface expression of mineralized zones that could potentially be used for a NI43-101 Mineral Resource Estimate for the property.

These results are from seven continuous series of channel samples in steep terrain at the Icefall Zone, collected by experienced climbing geologists and technicians using a hydraulic chisel, from well-exposed bedrock hosting disseminated to massive sulphides, primarily pyrite and pyrrhotite. The samples cover approximately 55 metres of strike and 80 metres of vertical relief along a steep exposure. These samples, along with pending results at other zones on the property, will provide representative assay data for surface expressions projected up-dip from previous and current drilling. Results are pending for channel sampling from the Edge and North zones at Willoughby. Highlights of the channel samples from the Icefall Zone include:

  • 2.94 g/t Au and 31.04 g/t Ag or 3.38 g/t AuEq over 15.0 metres, which includes 11.545 g/t Au and 69.4 g/t Ag or 12.53 g/t AuEq over 2.0 metres (WH21-CH004)
  • 3.21 g/t Au and 16.61 g/t Ag or 3.45 g/t AuEq over 12.0 metres, which includes 4.46 g/t Au over 5.0 metres and 31.23 g/t Ag or 4.82 g/t AuEq over 3.0 metres (WH21-CH007)
  • 1.83g/t Au and 32.62 g/t Ag 0r 2.30 g/t AuEq over 13.0 metres, which includes 8.68g/t Au and 265.0g/t Ag or 12.47 g/t AuEq over 1.0 metre (WH21-CH002)
  • 2.9 g/t Au and 21.42 g/t Ag or 3.21 g/t AuEq over 10.0 metres, which includes 15.45 g/t Au and 74.5g/t Ag or 16.51 g/t AuEq over 1.0 metre (WH21-CH001)

*AuEq calculated using a 70:1 silver to gold ratio.

StrikePoint’s CEO, Shawn Khunkhun, states, “These results provide excellent surface data for modelling of our multiple mineralized zones at Willoughby. Our objective during this year’s program at the Willoughby gold-silver and Porter silver properties was to significantly expand the gold-silver mineralization down-dip and along strike and to test new targets. We are pleased with the quality of work completed and expect the remainder of results before the end of 2021 or in January 2022.

2021 Willoughby Channel Sampling

Channel sampling at the Upper and Lower Icefall Zones confirmed continuous gold and silver mineralization along all seven channel sample lines. Due to the steep terrain, the channel sample locations are oriented at a variety of oblique angles to the orientation of the Icefall Zone and do not represent true widths. The gold-silver mineralization is hosted in semi-massive to replacement style sulphides, primarily pyrite and pyrrhotite with lesser sphalerite and galena within Jurassic volcanic rocks. Pervasive sericite alteration was consistently observed throughout all channel samples at Icefall, all of which returned intervals of gold and silver mineralization as displayed in Table 1. The 67 channel samples collected average 2.46 g/t Au and 23.28 g/t Ag and range between 0.041 to 15.45 g/t Au and 1.1 to 265.0 g/t Ag, respectively. Results are as follows:

Table 1: Channel sample results showing >1 g/t Au and >10 g/t Ag composite intervals

Channel Sample Line IDFrom
(m)
To
(m)
Interval
(m)
Au
(g/t)
Ag
(g/t)
AuEq (g/t)
W21-CH-0010.0010.0010.002.9021.423.21
Incl.0.007.007.003.8723.974.21
Incl.6.007.001.0015.4574.5016.51
W21-CH-0020.0013.0013.001.8332.622.30
Incl.7.0011.004.003.4982.724.67
Incl.9.0010.001.008.68265.0012.47
W21-CH-0030.002.002.001.3318.101.59
W21-CH-0040.0015.0015.002.9431.043.38
Incl.0.002.002.0011.5469.4012.53
W21-CH-0050.0010.0010.001.857.811.96
Incl.0.005.005.002.7310.042.87
W21-CH-0060.005.005.001.6928.502.10
W21-CH-0070.0012.0012.003.2116.613.45
Incl.0.005.005.004.4625.184.82

*AuEq calculated using a 70:1 silver to gold ratio.

Figure 1: 2021 Channel sample locations within the Icefall Zone showing gold equivalent values (AuEq g/t). Reference lines (1-7) represent stations (WH-21-CH001 to WH-21-CH007). Select anomalous gold samples are highlighted with annotated texts.

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/5044/107796_cb777fb514a3a892_002full.jpg

Results were also received from select grab samples collected at the Icefall Zone during the 2021 season. The nine grabs at Icefall average 5.12g/t Au and 32.64g/t Ag, ranging from trace to 23.69g/t Au and 0.25 to 107.0g/t Ag, respectively.

Figure 3: 2021 select grab samples within the Icefall Zone showing gold equivalent values (AuEq g/t). Select anomalous gold assays are highlighted by annotated texts.

To view an enhanced version of Figure 3, please visit:
https://orders.newsfilecorp.com/files/5044/107796_cb777fb514a3a892_003full.jpg

Willoughby Project

The project occurs along the eastern margin of the Cambria Icefield, approximately seven kilometers east of the advanced-stage Red Mountain Deposit owned by Ascot Resources. Upper Triassic Stuhini rocks and Lower Jurassic Hazelton volcano-sedimentary rocks underlay the property, subsequently intruded by an early Jurassic-aged hornblende-feldspar porphyry, like 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, and native gold. Eight gold and silver mineralized zones have been identified to-date over a one-kilometer strike-length mineralized trend.

QA/QC

Using a hydraulic chisel, an approximate 2 by 2-centimetre channel was sampled continuously along 1 metre sample stations. If the hydraulic chisel was incapable of retrieving a chip from a specific location, a hand chisel was used to assist with the chipping within the limits of the 1 metre station. Samples were placed directly into a marked polyurethane bag. Chip observation data was recorded and digitized in the field using MX Deposit.

Surface samples for the 2021 exploration program were labeled and shipped with chain of custody controls to the laboratory. The company implements a rigorous Quality Control/Quality Assurance program, including the insertion of Standards, Blanks, and Duplicates at regular intervals in the sample stream to monitor laboratory performance.

Samples were submitted to ALS Laboratory facility located in North Vancouver, British Columbia, for preparation and analysis. The ALS 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-samples using a riffle splitter and subsequently, 250g is pulverized. Multi-element analyses were determined by ICP-AES for 33 elements following a 4-acid digestion process. Analysis for gold is by 30g fire assay with atomic absorption (AAS) finish. Samples that returned with gold assays greater than 10 g/t were re-analyzed using a 30g fire assay with a gravimetric finish.. Samples with silver assays higher than 100 g/t are re-analyzed using a fire assay with gravimetric finish.

Qualified Person

The Qualified Person for this news release for National Instrument 43-101 is Andrew Hamilton, P. Geo, technical advisor to Strikepoint. He 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

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

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 it’s 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/107796

Categories
Junior Mining Precious Metals Strike Point Gold

Strikepoint Gold’s Step-out Drilling at Willoughby Intersects 10.24g/t Gold-Equivalent over 6.16 Meters

Vancouver, British Columbia–(Newsfile Corp. – December 9, 2021) – StrikePoint Gold Inc. (TSXV: SKP) (OTCQB: STKXF) (“StrikePoint” or the “Company”) is pleased to announce the initial drill results from the 2021 exploration program at the 100%-owned Willoughby gold-silver property, located east of Stewart in British Columbia’s prolific Golden Triangle.

Results have been received from the first of four areas drilled during the 2021 season targeting extensions to mineralization along strike identified during the 2020 drilling programGold-silver mineralization was encountered in all holes. Highlights include:

  • 7.34 g/t Au and 202.85 g/t Ag or 10.24 g/t AuEq over 6.16 meters in W21-109
  • 3.78 g/t Au and 10.45 g/t Ag or 3.93 g/t AuEq over 4.0 meters in W21-110
  • 4.18 g/t Au and 3.47 g/t Ag or 4.23 g/t AuEq over 7.0 meters in W21-110

High-grade gold-silver mineralization encountered in drill hole W21-109 is a step-out of approximately 25 meters down-dip from 2020 intercept W20-106 which intersected 10.04 g/t Au and 5.61 g/t Ag or 10.12 g/t AuEq over 7.72 meters within a broader interval of 4.19 g/t Au and 18.28 g/t Ag over 27.78 meters.

“Willoughby continues to deliver wide, high-grade intervals of gold-silver mineralization in multiple areas. We are building continuity of structurally-controlled and intrusive-related mineralization and are excited for further incoming results from the rest of the 2021 Willoughby program as well as drill results from our Porter Silver project,” said Shawn Khunkhun, President and CEO of Strikepoint Gold.

During the 2021 program, 4,050 meters of core drilling in seventeen holes were completed at the Willoughby Property as well as extensive surface chip-channel sampling and mapping of well-exposed, gold-silver mineralization within disseminated to massive sulphides that were follow up to 2020 surface results and in-field observations. The objective of the program was to targets gaps between previously drilled high-grade zones at Willoughby as well as the Willow zone one-kilometer to the north that hosts analogous high-grade mineralization. Assays are currently pending for the remaining 13-holes, as well as all surface sampling results.

Drill holes W20-108 to W20-111 were collared from the same site, testing extensions of the mineralization identified during the 2020 drill program. Drill hole W21-109 intersected 7.34 g/t Au and 202.85 g/t Ag or 10.24 g/t AuEq over 6.16 meters and W21-110 intersected 2.48 g/t Au and 5.30 g/t Ag or 4.23 g/t AuEq over 4.0 meters and 4.18 g/t Au and 3.47 g/t Ag or 4.23 g/t AuEq over 7.0 meters. These holes are interpreted to occurs within the hanging wall of a shear structure with steep southwest dip associated with dominant sulphide mineralization including semi-massive to sheeted pyrite-galena-sphalerite-chalcopyrite. Holes W21-108 & W21-111 stayed in the footwall to the zone, however sheeted vein sets were observed at depth and are interpreted to indicate close proximity to the mineralized structure which is consistent with surface observation.



Figure 1. 2021 & historic Willoughby Drillhole plan view map with gold assay results for the 2021 drill results

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/5044/107177_0e5c81a9e4471b00_001full.jpg

The causative, diorite intrusive rocks at Willoughby are considered comparable to, and potentially co-magmatic with, the Goldslide intrusive suite associated with mineralization at Ascot’s Red Mountain deposit, located seven kilometers west of the property. These intrusive sills are interpreted to have pooled gold bearing-sulphides in permissive Jurassic-aged volcanic rock package below the intrusion creating wide areas of disseminated gold-silver mineralization. This was encountered in the following intercepts: W21-108 1.24 g/t Au and 1.51 g/t Ag over 15-meters, W21-109 2.66 g/t Au and 13.18 g/t Ag over 4.7 meters, W21-110 1.60 g/t Au and 3.19 g/t Ag over 8.5 meters, and W21-111 0.86 g/t Au and 1.70 g/t Ag over 11.0 meters.

Complete results are as follows:

Hole-IDAzimuth/DipFrom (metres)To (metres)Length (metres)Gold (g/t)Silver (g/t)Gold Equivalent (g/t)
W21-10879/-68183.00186.003.000.9611.251.12
210.00225.0015.001.241.701.26
incl.210.00217.007.001.950.891.96
235.00241.006.002.576.522.66
incl.235.00238.003.003.836.833.93
257.50258.501.003.662.403.69
314.00315.001.002.3511.502.51
W21-10945/-70171.30176.004.702.6613.182.84
184.00188.004.001.062.431.09
271.00272.501.500.892.60.89
285.34291.506.167.34202.8410.24
306.50308.001.502.003.002.04
W21-11045/-73188.00192.004.003.7810.453.93
199.50208.008.501.603.191.65
incl.199.50203.504.002.645.212.71
237.00241.004.002.484.12.54
284.00291.007.004.183.474.23
W21-11163/-74202.00213.0011.000.861.700.88
incl.202.00204.002.002.414.102.47
incl.212.00213.001.001.102.201.13
223.50225.001.500.949.801.08
243.00249.006.000.7010.60.85

Table 1: Highlight drill intercepts from oriented core diamond drilling at the Willoughby projectGold equivalent calculated using a 70:1 Ag:Au ratio.
**True widths are not known at this time. All widths reported are drilled length.

StrikePoint also announces that it has adopted a new stock option plan (the “Fixed Stock Option Plan Up To 10%”). The Plan is subject to TSX Venture Exchange approval and can be viewed in its entirety on SEDAR.

Willoughby Gold-Silver Project

Willoughby is located along the eastern margin of the Cambria Icefield, approximately seven kilometres east of Ascot Resources advanced-staged Red Mountain deposit. 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, potentially comagmatic with the Goldslide Intrusive suite at Red Mountain deposit. Intrusive-related, structurally-controlled and replacement-style mineralized linked 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-kilometre strike-length mineralization trend.

QA/QC

Samples for the 2021 exploration program were all NQ sized (47.6mm diameter) drill core labelled, 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 duplicates at regular intervals in the sample stream to monitor laboratory performance.

Drill core samples are submitted to the ALS Geochemistry facility in Terrace, British Columbia, for preparation and subsequently to the ALS Geochemistry facility in North Vancouver for analysis. The ALS 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, 250 g 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 10ppm. 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 30 g fire assay fusion with gravimetric finish with a lower limit of 0.5 ppm and an upper limit of 100 ppm. Samples with silver assays greater than 100 ppm 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 Andrew Hamilton, P. Geo, technical advisor to Strikepoint. He 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 Willoughby property, 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) accept 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

Categories
Junior Mining Precious Metals Strike Point Gold

StrikePoint Gold Exploration Update: Drilling Ongoing at High-Grade Porter Silver and Willoughby Gold-Silver Properties

Vancouver, British Columbia–(Newsfile Corp. – August 31, 2021) – StrikePoint Gold Inc. (TSXV: SKP) (OTCQB: STKXF) (“StrikePoint” or the “Company”) is pleased to provide an exploration update for ongoing exploration during the 2021 field season at its 100%-owned Porter Silver and Willoughby gold-silver projects located east of the mining town of Stewart in British Columbia’s prolific Golden Triangle. The Company also announces that Carol Li has resigned from the Board of Directors.

StrikePoint’s President and CEO, Shawn Khunkhun states, “The Golden Triangle is home to some of the largest and richest silver mines on the planet, with over 800 million oz’s discovered to date. This drill program at Porter gives our shareholders exposure to the largest, historic pure silver producers in the Stewart area. Additionally, we continue to drill at multiple, high-grade gold-silver targets at Willoughby, expanding our program with an additional 2,000 meters planned. Finally, I would like to acknowledge Carol’s contributions to the board and wish her success with future endeavours.”

Over 3,700 meters of drilling in 15 core holes have been completed to-date, primarily from the Willoughby Property. All assays are currently pending.

Porter Silver Project

The primary objective of drilling at the Porter Silver Project is to continue to step out from high-grade silver mineralization that was historically mined and direct shipped from multiple structures on the Property: the Prosperity/Porter Idaho and Silverado Mines. Drilling will include targeting extensions to the past-producing D and Blind veins, testing multiple, parallel structures in single drill holes.

The Porter Project host two historically producing, silver-rich vein systems: the Silverado and Prosperity/Porter Idaho. They are located over two kilometers apart, outcropping on opposite sides of Mount Rainey, overlooking the town of Stewart. The Project is located strategically at the head of the Portland Canal, a deep-water port with year-round, ice-free access.

The initial discovery of silver mineralization on Mt. Rainey occurred in the early 1900s. Prosperity-Porter Idaho veins were the focus of the initial work. The mineralization consists of galena-tetrahedrite/tennantite-pyrite hosted in six parallel dipping shear zones, traced 200 meters on the surface and one kilometre down dip with widths between two and thirteen meters. Historic Company and government records document that high-grade silver ore was mined by the Premier Mining between 1929 and 1931 and produced 27,123 tonnes with recovered grades of 2,542 g/t silver (73.8 oz/ton Ag) and 1 g/t gold (yielding approximately 2.2 million ounces of silver). The ore was shipped to tidewater via an aerial tramway and direct shipped to smelters with no concentration required. These production records are historical in nature prior to NI43-101. StrikePoint has not independently verified the figures and they should not be relied upon.

Willoughby Gold-Silver Project

Due to visually encouraging mineralization at the Willoughby Project, StrikePoint has budgeted an additional 2,000 meters of core drilling, testing extensions to multiple high-grade targets. So far in 2021, drilling has targeted the Edge, Icefall, and Wilbie Zones as well as the new Sona-K zone, located 700 metes north of the ‘North Zone’. To-date, drilling as encountered visually encouraging structures and replacement-style mineralization with multiple phases of strong sulphide mineralization, primarily pyrite, pyrrhotite and sphalerite. Additionally, over 123 meters of channel sampling has been completed at Willoughby, including new areas that have been recently exposed by retreating glaciers.

Willoughby is located along the eastern margin of the Cambria Icefield, approximately seven kilometres east of the advanced-staged Red Mountain Deposit owned by Ascot Resources. Strong, coarse-grained pyrite mineralization proximal to Goldslide porphyry at Willoughby that is visually similar to Red Mountain has been encountered in 2021 drilling.

The Willoughby 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-kilometre strike-length mineralization trend.

Qualified Person

The Qualified Person for this news release for National Instrument 43-101 is Marilyne Lacasse, P. Geo, technical Consultant. 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, adjacent to Red Mountain deposit. 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
604-602-1440
sk@strikepointgold.com

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 it’s 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.

Categories
Breaking Exclusive Interviews Precious Metals Strike Point Gold

StrikePoint Gold – Exploring High-Grade Gold and Silver Projects in the Golden Triangle of B.C.

Maurice Jackson:

Joining us for conversation is Shawn Khunkhun the CEO of Strikepoint Gold (TSX.V: SKP | OTC: STKXF). Glad to have you on the program to share the opportunity before us at Strikepoint Gold. Before we delve into company specifics, Mr. Khunkhun, please introduce us to Strikepoint Gold and the opportunity the company presents to shareholders.

Shawn Khunkhun:

Strikepoint is an exploration company, advancing high-grade properties in safe jurisdictions. I repurposed the company back in 2016, the gold price had been cutting out and majors were not exploring, nor developing. And the thinking was we could buy it projects for pennies on the dollar. We could advance them. And in the future, we could move those projects along to the Major that are looking to secure development pipelines.

Maurice Jackson:

You have a reputation for having astute business acumen and great use of optionality on how you establish the company. Looking at the map before Strikepoint Gold has the property bank situated in the prolific Golden Triangle, get us acquainted with the region and some of your neighbors.

Shawn Khunkhun:

Okay. So, near the Triangle, it’s an area that exploration has been going on for over a hundred years. It’s produced some of the richest gold mines in the world. If you look at the Premier Mine that Ascot is currently holding, that was one of the richest modern mines in the modern era, in terms of several ounces, in terms of grade. Eskay Creek, a strong gold and silver mine. The Golden Triangle is known for large deposits, high-grade deposits, and is one of the hottest mineral exploration hubs on the planet..  There’s just, it’s a flurry of activity with the discovery of Pretivm’s Brucejack, we’re seeing large companies like Newmont and Newcrest come into the area.  Noteworthy of mention, there is also tremendous infrastructure throughout the Triangle.

Maurice Jackson:

Let’s go on-site and find out more. Sir, take us to the flagship Willoughby Project and introduce us to the value proposition before us.

Shawn Khunkhun:

The Willoughby Project is a spectacular world-class discovery that was originally explored in 1989 to 1996 time period. There were about 120 drill holes, and there were some robust grades of 20-gram gold over 20 meters thickness that were discovered. During that time the Bre-X scandal happened and you also had the gold price heading down to just under $200 an ounce in 1999. So it was a very, very difficult time for the mineral resource industry.  e acquired the property in 2018.. There’s a lot of grade on the project and we are excited about the opportunity before us. We are trying to connect the dots in-between zones. So, that’s the value proposition, linking these zones to show that this is a mineable project.

Maurice Jackson:

I referenced business acumen, when and under what terms was Strikepoint Gold able to acquire the Willoughby Gold Project?

Shawn Khunkhun:

That’s an interesting story. So back in October of 2018, the gold price got sold down to about $1,100 an ounce. And at that moment, we were able to acquire Willoughby for $85,000 in cash. And by issuing three million shares of Strikepoint, which at that time was valued at about half a million dollars. Considering the amount of drilling that was done on the property, its proximity to Red Mountain, which was subsequently acquired by Ascot. It was a once-in-a-generation acquisition for the company.

Maurice Jackson:

Germane to the value proposition and exploration thesis is an important stratigraphic marker known as the Red Line. What is the Red Line and where is it in relation to the Willoughby Gold Project?

Shawn Khunkhun:

There are two BCGS geologists, Jeff Kyba and JoAnne Nelson, and as they were looking at this tremendous area that’s produced very high-grade deposits. They were trying to look at a model, a geological model to identify where to look for the next giant gold, silver, and copper deposits in the region. So Kyba and Nelson came up with this theory and it’s a theory that has been widely accepted by the scientific community and identifies a contact. The big deposits in the Golden Triangle are found within two kilometers of where two different rock types meet. So this is the Triassic to the rocks and the Jurassic Hazelton formation. These are two different rock types that meet within two kilometers of that contact, which have produced some of the biggest deposits in the region are found.

Maurice Jackson:

Thus far, we’ve been able to determine that Strikepoint Gold is in a friendly mind jurisdiction, located in the prolific Golden Triangle, neighboring some very prominent names, and the project is along the Red Line. Two prong question, can you delve a little further into historic resource and share some of the grades with us?

Shawn Khunkhun:

The Willoughby does not have a formal 43-101 compliant resource on the property, however, the historic resource has about eight different areas throughout the Willoughby property where there’s tremendous grade and there’s been a lot of drilling. So, on the back of a napkin, I don’t want to speculate in terms of ounces, but what we’re looking for here is the neighboring Red Mountain deposit, which is just under a million ounces at about 7.5 grams per ton. We think this is analogous to Red Mountain. And if you look at the footprints of the mineralization from surface, it leads us to believe that we’re onto a very, very large gold system here. So, this season is going to be crucial. We’ve done some significant work on the property to date.

Shawn Khunkhun:

We’ve got assays pending and we’re trying to accomplish two things. Number one, link different zones of mineralization. Number two, we’re looking for where we could fit a deposit into the system. And we are drilling somewhat I would describe as Wildcat holes into areas that should host a very, very large system. There are two opportunities on the property. One is for a KSM style disseminated large system. These are two systems, one’s 40 million ounces of gold and the other is 10 million ounces of gold. And then the other opportunity is for a higher-grade epithermal vein-rich system. We have seen both types of mineralization on the property. And if you look at what Ascot is doing in terms of their hub and spoke model, along Ascot you also have Yamana and Newmont. So there’s a huge appetite from a larger gold entities for consolidation and acquisition.

Maurice Jackson:

Speaking of Wildcat drilling, last month Strikepoint Gold announced the commencement of a 3000-meter drill program. How’s the program coming along and when can shareholders expect results?

Shawn Khunkhun:

The program’s going well. I was just up in Stewart, along with our technical advisor Rob McLeod.  Strikepoint Gold is blessed with one of the best teams in the exploration business. These are professionals that have worked on a lot of the big projects in the Golden Triangle. Originally came out with a 3000-meter program at Willoughby where we’re halfway through that program. It’s going exceptionally well. It’s on time, it’s on budget. It’s very difficult to speculate on assays because you are dealing with third-party labs. And if 2020 taught me anything, we were exceptionally delayed in assay times, but I would suspect that we’re going to have a very results-rich autumn season, a very result-rich fall after Labor Day and that we should be reporting ongoing into Q1.

Maurice Jackson:

Sounds very intriguing. If you enjoyed the value proposition of the Willoughby, wait till you hear about the Porter. Mr. Khunkhun, please introduce us to the Porter Silver Project.

Shawn Khunkhun:

But before we get specifically into Porter, I want to share with readers this goes beyond Porter. This goes more to why silver, and my last experience in a bull market for gold, when gold prices went from hundreds of dollars up to thousands of dollars into 2011, it was the silver stocks, the silver equities that delivered the best returns for resource investors. I was very deliberate during this cycle. In 2018, the company acquired Porter, we acquired it from Skeena resources. I was very deliberate in positioning the company with a high-grade silver property. If you look at the number of pure high-grade silver properties in the world, you could count them on a couple of hands. There are very few opportunities for resource investors in the silver space and even fewer outside of Chile, Argentina, Mexico, and Peru.

Shawn Khunkhun:

The Porter is in a safe jurisdiction. It’s a past-producing silver mine and one of the highest-grade silver mines I’ve ever come across in my career. The average production grades at Porter were 2,500 grams per ton, but it’s the exploration thesis. It’s the opportunity before that really has us excited. The high-grade mineralization is on both sides of Mount Rainey overlooking the town of Stewart. The Porter two kilometers from the town. but you’ve got this high-grade mineralization that’s at either side of Mount Rainey. We can see the Petro Canada Gas Station. the Deepwater Seaport going into the Portland Canal. Highway 37A.  So all the infrastructures there. So, you’ve got the Silverado Mine on one side, you’ve got Prosperity Porter Idaho on the other side. They’re separated by about two kilometers and there was a large glacier, the Silverado glacier that prohibited exploration in the past. That glacier is pulled back.

Shawn Khunkhun:

It’s opened up a new exploration corridor and we believe those two systems are going to meet. And when you have two systems meeting, you usually have exceptional grades. The opportunity there is to link up these two past-producing mines by drilling into the center of the mountain. And it’s an opportunity that previously was not accessible. And this is the season that Strikepoint test that theory. In addition to stepping out from each of the mines on either side, we’ve got step-outs where we’re trying to extend the known high-grade resources and known areas that were once in your production. But the real opportunity is a target that we call Big Flex. The Big Flex opportunity is a series of drill holes right into the center of the system where these two systems should meet. And, if we’re successful and if the assays come back anywhere in the neighborhood of where historic production grades were, this is going to be a transformational year for Strikepoint.

Maurice Jackson:

You referenced 2,500 grams per ton on the historical work. Let’s put that into perspective for readers.  What kind of grade would you a need to go into production?  

Shawn Khunkhun:

Not all deposits are the same. You’ve got underground mines and open-pit mines. Typically what you’d see at an open-pit silver mine is one-ounce material or 30 gram material. At an underground mine, you’re probably closer to 200 grams per tonne, which is about eight ounces roughly. So, we’re talking about a system here that is 10 times richer than most underground mines. That’s the opportunity here. And, just so you know that this isn’t the exception in the area. If you look at some of the giant silver mines in the area like Eskay Creek, they produced almost 200 million ounces of silver at better than 2000 grams per tonne. There’s a lot of precedent in this area for mines like this, Eskay is one example, at the Premier Mine there was a lot of high-grade silver recovered, at Pretivm’s Brucejack there’s a lot of high-grade silver that’s coming out. And just to the south of us is Dolly Varden Silver.

Maurice Jackson:

I see that Porter has a historic resource, is the goal to twin the holes?

Shawn Khunkhun:

No, the goal is not to twin the holes. The goal is to extend the known band. While we were drilling the Willoughby property last season in 2020, we sent a team out to do some surface work at Porter. They were looking to extend the veins at surface. This was the deep vein, the blind vein. This is on the Prosperity Porter Idaho side. We were successful. At surface, we had come up with new extensions, we’ve discovered new veins. And so the goal here is to extend and expand the known veins at both Silverado and Prosperity Porter Idaho. It’s to uncover new veins around that. But the big prize here is if we were able to come up with some structure, some mineralization in between those two zones that had never been explored.

Maurice Jackson:

You’ve also been busy doing some field mapping and grab samples, what were the results?

Shawn Khunkhun:

Recently, we’ve had up to 3,800 grams per tonne, but when we first acquired the property. At the Silverado side we’ve had up to 44,000 grams per tonne. This is one of the most exceptional specimens I’ve ever come across in my career and so up to 44,000 grams per tonne, that’s 20 times the average production grades.

Maurice Jackson:

All right. So let’s discuss some important topics that you’re main to your projects, and that is, are the projects 100% owned?

Shawn Khunkhun:

They are 100% owned.

Maurice Jackson:

And what is your relationship with the first nations?

Shawn Khunkhun:

There are two first nations groups in the area. South of Treaty Creek, we’re in Nisga’a territory. And so we’ve got a very, very strong relationship with the Nisga’a Nation. About a third of our workforce comes from Nisga’a and everyone from our team had a long history of just a very, strong relationship there. I’ve said this before, they’re our brothers, they’re sisters, they’re our friends. They’re truly our partners and it goes beyond Nisga’a, it’s everybody close to the Stewart community. These are non-first nations. These are non-indigenous peoples as well. We are truly from the north for the north and that’s our policy.

Maurice Jackson:

We’ve discussed the good, let’s address the bad, what can go wrong? And what are your action plans to mitigate that wrong?

Shawn Khunkhun:

In 2020, we had one of the worst weather years up in the Golden Triangle that we’ve seen in about a decade. And so that’s hasn’t been the case this year. But last year, if you scanned about two dozen junior resource companies and went through their financial statements, what you’d see is some companies we’re operating at a 30% production because of weather. I’m happy to report that Strikepoint last season, we combated the weather, and we were operating at about 90%, 95% productivity. So, we overcame weather, but weather can be a challenge in this part of the world. Apart from the weather, we went through the COVID pandemic in terms of more regulations and just a stronger adherence to health and safety.

Shawn Khunkhun:

We are always on high alert in terms of COVID outbreaks. And lastly, just with the scarcity of certain supplies. We started the season, we saw some trends in lumber in late 2020. We made all of our wood purchases in Q4 of 2020 and in late Q3, and thankfully so, because how do we try to secure lumbering in Q1 and Q2? We would have paid twice the price. Now, thankfully things like lumber and other costs have come down, but there is a shortage of certain goods and items. Sometimes there are some delays, but, those are the types of things that can go wrong.

Maurice Jackson:

All right. Let’s discuss the people responsible for increasing shareholder value. Mr. Khunkhun, please introduce us to your board of directors and management team, and what skill sets do they bring to Strikepoint Gold.

Shawn Khunkhun:

Strikepoint Gold has a diverse group, but, if you look at the skills and experience matrix, we’ve got a lot of boxes checked here. We’ve got a mining engineer, Ian Harris. Ian, was instrumental in the sale of Corriente Resources for about $690 million. We’ve got an exploration geologist, Adrian Fleming. I don’t think we have enough time to go through all of Adrian’s successes, but he’s just a tremendous mentor to the beyond geologists that work for the company. We’ve got a tremendous mining engineer. We’ve got a great exploration geologist. Carol Li, who is the chief financial officer for Ascot Resources and is on the board. And then beyond the board of directors, we’ve got advisors like Rob McLeod, Ryan Weymark, myself. To round things out, I come from a marketing and capital reserve background. So we’ve got all the right elements you need to move a company like Strikepoint forward.

Maurice Jackson:

Let’s get into some numbers. Please provide us with the capital structure for Strikepoint Gold.

Shawn Khunkhun:

Strikepoint has about 200 million shares issued and outstanding. Eric Sprott as the largest shareholder at close to 20%. We have a couple of corporate shareholders in Ascot, and Skeena. In terms of institutional ownership, I believe it’s around 40% and you’ve got tremendous names in the institutional leadership. You’ve got firms like Delbrook, Crescat, US Global, Gold 2000, Sprott. So, it’s all the who’s who in the resource fund space.

Maurice Jackson:

How much cash and cash equivalents do you have?

Shawn Khunkhun:

So, we’ve got about $10 million in the bank. And, we’ve got about a $4 million budget here. We should start the year with roughly $6 million. We should start January 1st, 2022 with about $6 million after all of our exploration expenditures and spending.

Maurice Jackson:

How much debt do you have?

Shawn Khunkhun:

Zero.

Maurice Jackson:

And if you can just remind us one more time, what is the float?

Shawn Khunkhun:

The float is roughly 40 million shares.

Maurice Jackson:

In closing, sir, what keeps you up at night that we don’t know about?

Shawn Khunkhun:

When our crew is in the field, they’re on my mind. I sleep like a baby come December when the crews are off the property. When you go to work with people, you start to care about them. And until everybody’s gone home to their families at Christmas, that’s the one thing in the back of my mind. And it’s part of the reason that we make our best efforts to go up and to spend time with our crews. Team morale is important.

Maurice Jackson:

Last question, what did I forget to ask?

Shawn Khunkhun:

One of the things that you should know is that I’ve personally invested about $500,000 dollars in Strikepoint, for me, that’s a material amount of money. And so my interests are aligned with shareholders’ interests, my family, and my friends. There’s a lot more in terms of reputation and then in personal a skin in the game. So, that’s one thing I’d like your viewers to know.

Maurice Jackson:

Mr. Khunkhun, it’s been a pleasure speaking with you today, wishing you and Strikepoint Gold the absolute best, sir.

And as a reminder, I am a licensed representative to buy and sell precious metals through Miles Franklin Precious Metals Investments, where we have several options to expand your precious metals portfolio, from physical delivery of gold, silver, platinum, palladium, and rhodium, to offshore depositories, and precious metals IRA’s. Give me a call at 855.505.1900 or you may email: Maurice@MilesFranklin.com.  Finally, please subscribe to www.provenandprobable.com, where we provide: Mining Insights and Bullion Sales, subscription is free.