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Junior Mining Precious Metals Strike Point Gold

StrikePoint Commences Discovery-Focused Exploration Program at the High-Grade Porter Silver and Willoughby Gold Properties

Vancouver, British Columbia–(Newsfile Corp. – July 5, 2022) – Strikepoint Gold Inc. (TSXV: SKP) (OTCQB: STKXF) (“StrikePoint” or the “Company”) is pleased to announce that exploration work has commenced at its 100%-owned Properties located near Stewart, BC in British Columbia’s prolific Golden Triangle. 3,000 metres of drilling is planned at the Willoughby gold-silver and Porter Silver Properties, in addition to surface sampling and mapping programs with an emphasis on exploration at the Porter Silver Property.

Shawn Khunkhun, President and CEO of Strikepoint states,With a healthy treasury over $5 million, we are excited to commence our drilling programs at the Porter and Willoughby Properties. At Porter, our work will continue to test the limits and source of the historic silver mines; at Willoughby, we will also seek new high-grade gold-silver discoveries in previously unexplored areas.”

Porter Silver Property

The Porter Property hosts the three highest-grade pure silver historic producers in the Stewart area: the Prosperity, Porter Idaho and Silverado mines. Objectives for the 2022 season include:

  • Drill extensions to high-grade silver mineralization outlined in historic resource estimates
  • Explore for the roots of the silver veins and gold-silver-rich intrusive-related mineralization
  • Assess the underground access and workings for future rehabilitation

1,600 metres of drilling is planned at Porter, initially targeting the past-producing Prosperity, Blind and D veins in 8-10 holes. Additionally, mapping and sampling will be completed prioritizing exploring the northwest and eastern areas of the Property. Work at the western side will investigate strong alteration and gossan with historic gold-rich prospects along northwest trending structures. On the eastern side of the Property, significant glacial retreat of the Marmot glacier and alpine icefields have revealed new exposures that have never seen modern exploration.

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. Significant underground workings on multiple levels were used by the historic operators. During the 2022 season, StrikePoint will investigate the feasibility of completing rehabilitation of the workings, most recently used in the 1980s for exploration work, to complete a future underground drilling program.

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 where mineralization is hosted in six parallel dipping shear zones which have been traced in underground workings for up to 425 metres along strike and 360 metres downdip with widths between 2 and 13 metres. The zones remain open at depth. The deposit 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.

Willoughby Gold-Silver Property

Strikepoint’s 2022 drilling season will commence at the Willoughby gold-silver Property with 1,400 metres in 6-8 holes. Objectives for the Willoughby exploration program include:

  • Drill northern and southern extensions to the 600 metre long trend of mineralized zones along the Willoughby nunatak
  • Exploratory drilling to discover new mineralization to the west of the Willoughby nunatak trend

Willoughby 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.

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 Ascot Gold’s Red Mountain development project. 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 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
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.

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/5044/120110_06e70c9c146a4913_001full.jpg

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.

To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/5044/120110_06e70c9c146a4913_002full.jpg

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.

To view an enhanced version of Figure 3, please visit:
https://orders.newsfilecorp.com/files/5044/120110_figure3.jpg

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:
https://orders.newsfilecorp.com/files/5044/120110_06e70c9c146a4913_004full.jpg

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