Strikepoint Announces 2021 Drill Programs at the High-Grade Porter Silver and Willoughby Gold Properties
Vancouver, British Columbia--(Newsfile Corp. - June 16, 2021) - StrikePoint Gold Inc. (TSXV: SKP) (OTCQB: STKXF) ("StrikePoint" or the "Company") is pleased to announce that its 2021 exploration programs have commenced at its 100%-owned Porter Silver Project and Willoughby gold-silver properties located east of the mining town of Stewart in British Columbia's prolific Golden Triangle. Drilling will commence at the Porter Projects, targeting extensions to known veins and large, regional silver targets within the system that hosts the largest, historic pure silver producers in the Stewart area: the famous Prosperity and Porter-Idaho mines, with drilling to begin at Willoughby mid-summer.
StrikePoint's President and CEO, Shawn Khunkhun states, "Our 2021 drilling programs are the most aggressive in the Company's history. We have two primary objectives for drilling at the Porter Silver Project: 1) step out from high-grade silver mineralization mined in historic stopes at the Prosperity/Porter Idaho and Silverado Mines, and 2) drill the initial holes into the 'Big Flex', targeting the structural intersection of the two prolific vein systems, project to occur under the Silverado ice sheet. At Willoughby, we will continue to step out drill from multiple previous high-grade gold-silver intercepts, building on the technical breakthrough we achieved during the 2020 field season."
An initial Phase I, 5,000-meter drill program will commence shortly at the Porter Silver Project. Targets include extension to very high-grade silver shoots mined an intersected in historic drill holes at the Prosperity and D-veins. Additionally, drilling will target extensions to the D and Blind veins to the north, and for southern extension to the No. 1 and 2 veins at the Silverado Mine. Northeast-oriented drill holes will target the 'Big Flex' structural intersection of the approximate north-south striking Prosperity trend with the northwest-southeast striking Silverado trend. This is an over 2,300 meter long target between these past-producing silver Mines.
Figure 1. Long section of the Silverado and Porter Idaho past producing mines with highlights of the 2021 drilling targeting D-vein strike extension and the Big Flex
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A second drill rig will be mobilized to the Willoughby property to complete an initial 3,000-meter program. The drilling campaign has three primary objectives: 1) follow up on 2020 high grade drill intercepts (See StrikePoint News Release February 3, 2021, 10.0 g/t Gold over 7.72 meters), 2) extensions along strike of the Edge Zone mineralization discovered during the 2020 surface sampling program and 3) test the extension of the northwest-striking mineralized horizon to the southeast to connect mineralized zones from recent and historic drilling programs as a path to the Company's initial resource estimate at Willoughby.
Figure 2. Planview of the proposed 2021 drilling at the Edge zone
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In addition to drilling, field work at Willoughby and Porter will also include detailed field mapping and sampling, following up on high-grade 2020 season surface results (See New Release December 13, 2020, up to 37.3 g/t Gold at Willoughby and January 21, 2021, up to 3,840 g/t Silver at Porter).
Willoughby Gold Project
Willoughby is located 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 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.
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) 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.
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.
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.
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 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.
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