StrikePoint Golds Phase 2 Drillling Program Underway at the High-Grade, Willoughby Gold Property
Vancouver, British Columbia--(Newsfile Corp. - August 13, 2019) - StrikePoint Gold Inc. (TSXV: SKP) (OTCQB: STKXF) ("StrikePoint" or the "Company") is pleased to announce commencement of its Phase II drilling program of 1,000 metres at the Wilby zone on their 100%-owned Willoughby property located near Stewart BC in British Columbia's Golden Triangle, seven kilometres east of Ascot Resource's advanced-stage Red Mountain Gold Project. The company's Phase I program is complete, with eight holes that targeted the North Zone, located 400m northwest of the Wilby Zone.
The objective of the Phase II program is to expand and test the 1450 and Northern deep lenses at the Wilby zone, confirming and stepping out from multiple wide, high-grade historic intercepts. Gold and silver mineralization at Willoughby are hosted within Jurassic volcanic and sedimentary rocks, as well as 'Goldslide Suite' intrusive phases, similar to the adjacent Red Mountain Deposit and other significant deposits in Northwestern British Columbia.
Highlights of historical intercepts from Wilby include (drilled lengths, true width estimated to be 60 to 90% of interval):
89-04: 7.06 g/t Au and 42.80 g/t Ag over 11.50 meters
94-20: 4.40 g/t Au and 17.97 g/t Ag over 6.0 meters
95-51: 20.45 g/t Au and 42.84 g/t Ag over 6.80 meters
95-53: 12.66 g/t Au and 59.43 g/t Ag over 12.0 meters
96-71: 10.54 g/t Au and 5.88 g/t Ag over 5.10 meters
96-88: 7.62 g/t Au and 1.43 g/t Ag over 11.70 meters
StrikePoint CEO, Shawn Khunkhun, states, "This is the first drill program to be carried out at the Wilby Zone since 1996. Historic drill holes were limited to near-outcrop, short holes. StrikePoint's goal is to demonstrate that the mineralised system is more extensive than previously indicated. This part of Northern British Columbia has an enviable endowment of high-grade gold and silver mines and deposits. Our aim is to build a resource that moves this project towards economic viability."
The project occurs along the eastern margin of the Cambria Icefield, approximately seven kilometres east of the advanced-staged Red Mountain Deposit that was recently acquired by Ascot Resources from IDM Mining. The property is underlain by Upper Triassic Stuhini rocks and Lower Jurassic Hazelton volcanic and sedimentary rocks that have been intruded by an early Jurassic-aged hornblende-feldspar porphyry, similar to and potentially comagmatic with the Goldslide Intrusive suite at Red Mountain. Intrusive-related mineralized zones consist of primarily pyrite with lesser pyrrhotite, sphalerite, galena, chalcopyrite, native gold and. Eight gold and silver mineralized zones have been identified to-date over a one-kilometer strike-length mineralization trend.
Marilyne Lacasse, P. Geo., is the Qualified Person as defined by National Instrument 43-101 who prepared and approved reviewed the technical data in this news release.
StrikePoint Gold is a gold and silver exploration company focused on building high grade precious metals resources in Canada. The company controls two advanced stage exploration assets in BC's Golden Triangle. The past producing high grade silver Porter Project and the high-grade gold property Willoughby, which is adjacent to Red Mountain. The company also owns portfolio of gold properties in the Yukon.
ON BEHALF OF THE BOARD OF DIRECTORS OF
STRIKEPOINT GOLD INC.
Chief Executive Officer and Director
Statements in this release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed under the heading "Risk Factors" and elsewhere in the Company's filings with Canadian securities regulators. Such information contained herein represents management's best judgment as of the date here of based on information currently available. The Company does not assume any obligation to update any forward-looking statements, save and except as may be required by applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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