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StrikePoint Discovers Two New Zones of Surface Mineralization with Results Up to 156 g/t Gold and 91.7 g/t Silver and Extends North Zone with Results up to 53.9 g/t Gold and 1,240 g/t Silver at Willoughby

Vancouver, British Columbia–(Newsfile Corp. – November 28, 2022) – StrikePoint Gold Inc. (TSXV: SKP) (OTCQB: STKXF) (“StrikePoint” or the “Company”) is pleased to announce the drilling results as well as reconnaissance grab sample results from the 2022 exploration program at the 100%-owned Willoughby gold-silver project, located east of the community of Stewart in British Columbia’s prolific Golden Triangle. The 2022 program was focussed on regional exploration aimed at growing the footprint of the Willoughby mineralization trend and to drill previously untested areas on the Project

Highlights of the 2022 field program at Willoughby Include:

  • Newly discovered “BOD Zone” 125m to the South of the Icefall zone on the Willoughby nunataq, with best grab sample returning 156 g/t Au and 91.7 g/t Ag
  • New discovered “FS Zone” 700m to the south of the Willoughby nunataq with best grab sample returning 6.48 g/t Au and 52.5 g/t Ag
  • Extension of the main Willoughby showing along NNW structures with samples returning up to 53.9 g/t Au and 1,240 g/t Ag
  • Drillhole W22-129 at the north end of the main Willoughby nunataq intersected 2.48 g/t Au and 4.00 g/t Ag over 4.20 metres including 11.45 g/t Au and 13.70 g/t Ag over 0.85 metres
  • Drillhole W22-125, at the south end of the Willoughby nunataq intersected 1.02 g/t Au and 27.15 g/t Ag over 5.32 metres in a new zone of mineralization and alteration lying to the west of known mineralized zones.

StrikePoint’s CEO, Michael G. Allen, states, “The 2022 program at Willoughby significantly expanded the known mineralized footprint on the property. Significant gold and silver grades have been established through surface sampling and drilling for approximately 2,700 meters of strike length of the Willoughby trend. Additionally, drillholes W22-125 and W22-129 identified potential new zones of mineralization west of previous drilling at either end of the Willoughby nunataq, that has only been cut by these two drillholes to date.”

2022 Willoughby Surface Sampling

At total of 84 surface grab samples were collected as part of the 2022 Willoughby property exploration program. Values returned ranged from 0.005 to 156.0 g/t Au and 0.25 to 1,240.0 g/t Ag with 27 samples returning gold values of greater than 0.1 g/t. The program targeted areas of newly exposed outcrop to the south and north of the Main Willoughby showing along the initial 1,300m long mineralized trend. Exploration surface sampling highlighted two new mineralized zones, FS and BOD zones to the south, as well as confirming mineralization at the historic Back Ridge zone, a previously underexplored area. This work extended the Willoughby mineralized trend to a total of 2,700 metres.

Figure 1. Willoughby property surface grab sample locations

The BOD Zone is located at the southern most end of the Willoughby nunataq, 125 metres South of the Icefall zone. Surface reconnaissance outlined a wide area of quartz-sericite-pyrite alteration at BOD that is linked to alteration associated with of north-northwest striking structures further north on the nunataq. These steeply east dipping structures are linked to bonanza grade mineralization as shown in grab sample B0017097 grading 156 g/t Au and 91.7 g/t Ag. In addition, alteration halos around these structures returned significant grades in three surface samples which average 4.02 g/t Au and 11.9 g/t Ag.

Further to the north on the Willoughby nunataq, infill sampling was completed along the southerly projection of the North Fault, confirming a 125-metre extension the north-northwest trending structure. Sample B0017066 returned 53.9 g/t Au and 1,240 g/t Ag in a fault breccia with semi massive sulphide cement, dominantly pyrite with patchy to disseminated galena.

Figure 2. Willoughby nunataq with new BOD zone surface grab sample locations – Inset of Figure 1

Figure 3. Field station W22-MLA-052 containing sample B0017097 returned 156 g/t Au and 91.7 g/t Ag. Massive pyrite mineralization within the hanging wall of a north-northwest trending structure at the BOD zone.

The newly defined FS zone located at the southernmost extent of the property, approximately 700 meters to the south of the BOD zone. This area has been recently exposed due to significant ice recession. This new zone exhibits similar mineralization style to those outlined on the Willoughby nunataq, suggesting a continuation of known mineralization. Significant grades were returned from the few grab samples collected: B0017075 1.39 g/t Au and 128 g/t Ag, B0017076 3.05 g/t Au and 36.2 g/t Ag, B0017080 4.95 g/t Au and 120 g/t Ag, and B0017081 6.48 g/t Au and 52.5 g/t Ag.

Figure 4. FS zone. Field station W22-MLA-027 containing sample B0017081 returned 6.48 g/t Au and 52.5 g/t Ag. Massive pyrite within a lapilli tuff.

Sample NumberEastingNorthingAu Au-AA23 ppmAu GRA21 ppmAg ME-ICP61 ppmAg GRA21 ppm
B001700262030834644310.151NC2.1NC
B001701062040434638140.775NC51.6NC
B001701662049504638603.6NC7.8NC
B001701962052244636310.108NC6.2NC
B001702362052144634920.102NC12.4NC
B001702562051074635010.128NC2.6NC
B001705462029654634640.163NC2.1NC
B001705562029674634550.288NC4.3NC
B001706662031824633081053.91001240
B001706762032204633080.978NC20NC
B001707762021344636250.21NC2NC
B001708062021474636204.95NC100120
B001708262021264636270.141NC2.5NC
B001708162021264636276.48NC52.5NC
B001708562021134636290.75NC21.3NC
B001707562021134636291.39NC100128
B001708662021134636293.05NC36.2NC
B001709762028244635481015691.7NC
B001709862028334635374.42NC16.8NC
B001709962050324635670.322NC1.6NC
B001710062050324635670.805NC2.7NC
B001606262029204634451.135NC11.8NC
B001606162029204634458.96NC13.4NC
B001606462028984634550.182NC3.2NC
B001606362028984634550.263NC2.8NC
B001606562029094634771.565NC5.6NC
B001606662029114634840.279NC4.2NC

Table 1: Willoughby property – Select exploration grab samples results (NAD83 Zone9)

The Company considers these to be very encouraging results, strengthening and extending the mineralization trend.

Willoughby Drilling

A total of 1,500 meters of diamond drilling was completed during the 2022 Willoughby exploration program with a focus on northern and southern extensions of mineralized zones on the Willoughby nunataq and exploratory drilling to discover new mineralization to the west of the Willoughby Trend.

The program was successful in defining new mineralization to southwest of the North zone in hole W22-129 which returned 2.48 g/t Au and 4.00 g/t Ag over 4.20 metres including 11.45 g/t Au and 13.70 g/t Ag over 0.85 metres. The mineralization outlined in this hole is at the contact between the Jurassic volcanic rock package and the Goldslide intrusive in an area strongly quartz-sericite altered with massive pyrite mineralized sections and is similar to what is seen at the Edge, Wilby, and Icefall zones. From the same drill set-up, hole W22-128 intersected 1.11 g/t Au and 20.96 g/t Ag over 9.02 metres including 2.46 g/t Au and 35.23 g/t Ag over 2.52 metres exploring extension of the mineralization to the northwest, notably towards the NN zone. Mineralized intersections consist of massive pyrite veins in a chlorite altered intrusive which is interpreted to be with the footwall alteration of the dominant structures bearing mineralization.

Figure 5. Willoughby nunataq – North 2022 Exploration Drilling in relation with the historical drilling on the Willoughby nunataq (1989-2021)

The remaining the three exploration holes were drilled further to the south on the Willoughby nunataq in wide areas that were previously untested. Hole W22-125 was an exploratory hole to the southwest that intersected 1.02 g/t Au and 27.15 g/t Ag over 5.32 metres in strongly altered silica-sericite lapilli tuff with semi-massive pyrite and sphalerite in an unexplored area. Hole W22-127 was an aggressive 100m step out from known mineralization at the Wilby zone, it intersected 0.82 g/t Au and 1.41 g/t Ag over 8.78 metres and 8.39 g/t Au and 11.20 g/t Ag over 1.12 metres.

Figure 6. Southern Willoughby nunataq 2022 Drilling in relation with the historical drilling on the Willoughby nunataq (1989-2021)

Hole-IDZoneFrom (m)To (m)Length (m)Au (g/t)Ag (g/t)
W22-125Exploration113.36118.855.491.0227.15
W22-126Exploration110.70124.3813.680.594.14
Incl.116.30124.388.080.623.60
W22-127Exploration189.00197.788.780.921.41
206.30207.471.178.3911.20
226.29227.130.842.9243.20
W22-128North154.95163.979.021.1120.96
Incl.155.74158.262.522.4131.12
272.65273.981.331.901.40
W22-129North35.9837.371.392.28217.00
224.50228.704.202.484.00
Incl.227.85228.700.8511.4513.70
252.20257.004.800.880.79
265.78267.862.081.530.50

Table 2: Highlight drilling intercepts at Willoughby project.
**True widths are estimated to 80% at this time.
 

Hole-IDEastingNorthingElevationAzimuthDipLength (m)
W22-12946328162032821753.00208-55290.00
W22-12846328162032821753.005-55288.00
W22-12746333762029601640.0092-72300.00
W22-12646333762029601640.00148-55321.00
W22-12546333762029601640.0021855301.50

Table 3: Willoughby property – Drill collar locations and orientations (NAD83 Zone 9)

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 two-kilometre strike-length mineralized trend.

QA/QC

Samples for the 2022 drilling exploration program were all NQ-sized (47.6 mm diameter) drill core was 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 surface samples for the 2022 exploration program were labelled and shipped to the laboratory using industry standard chain of custody controls. 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.

All samples were submitted to the ALS Chemex and underwent preparation at either their Terrace and Langley facilities in British Columbia with all analytical work carried out at their North Vancouver, BC laboratory. 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.

“Michael G. Allen”

Michael G. Allen
President, Chief Executive Officer & Director

For more information, please contact:
StrikePoint Gold Inc.
Michael G. Allen, President CEO & Director
T: (604) 609-6107
E: ma@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/145515

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