September 18, 2018
These initial assays are encouraging and represent new discoveries of veins and other mineralized features from outside of the historic resource area and support targeting of the two diamond drill rigs currently operating on the project.
This is the first round of 192 sample assays returned from the 2018 exploration campaign. Samples ranged from trace to 44,546 grams per tonne silver, trace to 16.9 grams per tonne gold and trace to 3.57% copper. This includes samples collected for general geochemical profiling as well as mineralized samples as Strikepoint continues to build its understanding of this deposit and the geology.
All samples in this release were collected from the Porter, Silverado and Handsome Jack targets. At the date of this release, a total of 413 surface samples have been collected across the entire property, and field sampling remains ongoing while good ground conditions prevail. Further results are pending.
Sample X958002 – 44,546 grams per tonne silver (Silverado)
This sample was found in one of the gullies above the historic Silverado mine portals and is assumed to have come from an area where ice has retreated in recent years. Although this was a float sample (i.e. not from outcrop), this galena-rich quartz-vein specimen was collected where the topography consists of narrow, steep-sided gullies and so is assumed to have originated from a local vein on the escarpments.
Along with silver-bearing galena, this sample also hosted chalcopyrite which resulted in a copper value of 3.57%. This is consistent with field observations where the presence of copper minerals associate with higher-grade silver. In addition, this sample also returned 3.25 grams per tonne gold.
Sample X957727 – 25,981 grams per tonne silver (Porter)
Sample X957727 was retrieved from a new vein discovered 200-meters west of the historic Porter mines, in a possible extension of the ‘Honest John’ vein. The sample is from a galena-rich quartz vein up to 40 centimeters thick and would have been until relatively recently obscured by late-lying snow cover.
An additional seven samples were collected along a 100-meter strike length of this vein returning assays ranging from 203 grams per tonne to 1,390 grams per tonne silver. Other assays from a systematic sampling program are pending.
Sample X956011 – 1,330 grams per tonne silver and 16.9 grams per tonne gold (Silver Key)
This sample represents a significant step out from the historical Porter mine workings, occurring 800-meters west of the nearest portal. The “Silver Key” vein (named after the underlying Crown Grant Claim) is a new discovery and would have previously been obscured by the glacier. It appears that it could be a westerly continuation of the vein sample X957727 was collected from, and field investigation is ongoing.
The presence of gold in the sample is in line with a general trend whereby the galena-rich silver veins seem to be passing into more arsenopyrite-rich gold veins to the west of the historical workings.
Sample X958358 – 9,500 grams per tonne silver (Big Rig Vein)
Sample X958358 was collected in a gossanous zone to the south of the present camp location and returned 9,500 grams per tonne silver as well as 2.6 grams per tonne gold.
This new zone lies to the south of the “Big Rig Fault”, a structure that in previous reports was assumed to cut off the silver mineralization and so formed the southerly extent of the historic workings and resource. The discovery of this sample shows that there is potential for the veins to have been offset by the fault and continue further south into the valley.
Quartz veins up to 20 centimeters across are found within a gossanous zone up to 5 meters wide. Anastomizing veinlets or arsenopyrite up to 0.5cm across are found within the quartz and are thought to host the gold.
Sample X956556 – 8,900 grams per tonne silver (Handsome Jack)
This sample was from a newly discovered group of parallel veins on the Handsome Jack property, which was acquired from Trifecta Gold by Strikepoint Gold on 24th August 2018.
These veins are to the east of the Angelo Vein, the outermost veins included in the historic resource. They are comprised of swarms of smaller veins up to twenty centimeters wide within a five-meter zone and would have been overlooked by the original miners working the Porter Mines. These veins represent a new style of mineralization that could add bulk to a new resource, but also help to strengthen the idea that veins are not restricted to the original Porter project and continue to propagate to the east (and west).
The “Lithological Cap” and other Geology
Previous explanations of the geology of the Porter and Silverado mines are being found to be oversimplified and the geological team has spent significant time mapping and sampling across the entire project area.
One feature is an apparent silicified cap that forms the peak of Mount Rainey. This cap rests on top of a ‘scoop shaped’ fault like those seen at Ascots “Premier Mine”, located seventeen kilometers to the north west. The emplacement of this lithological unit appears to prevent veins from reaching the surface which helps explain the lack of mineralization at the peak. Instead, the mineralizing fluids have the potential to track parallel to these faults forming ‘flat veins’ noted in the historical resource. This strengthens the idea that mineralized veins could be continuous between Porter and Silverado and are just masked by this geological phenomenon.
Other significant structures have also been observed and are being studied for their potential as mineral hosts, including veins hosted in fold hinge fractures, ‘reefs’ of fluids pooling against impervious layers and extensional vein sets.
About the Golden Triangle
The Golden Triangle is an area of northwestern British Columbia that has seen extensive historic mining and prospecting activity, and has recently been the site of modern discoveries, including the Premier Gold, Snip and Eskay Creek Mines. The area has seen a resurgence in infrastructure investment which supports exploration activities, including upgraded transmission lines supplying clean, affordable and reliable hydroelectric power. Other recent improvements include highway upgrades, new ocean port infrastructure at the ice-free port of Stewart and the commissioning of three hydroelectric facilities.
StrikePoint Gold is a well-financed gold exploration and development company. The company controls a portfolio of gold properties in the Yukon and throughout Canada.
The Company maintains a rigorous QA/QC program with respect to the preparation, shipping, analysis and checking of all samples and data from the properties. Quality control for field sampling and drill samples at the Company’s projects covers the complete chain of custody of samples, including sample handling procedures and analytical-related work, plus the insertion of standard and blank materials. The QA/QC program also includes data verification procedures. ALS Laboratories in Vancouver, Canada (ISO 17025:2005 accreditation) assayed all grab samples from the current field program using fire assay and ICP Mass Spectroscopy methods. Drill samples were processed by Bureau Veritas Labs in Vancouver, Canada (ISO9001:2008 accreditation).
The technical information contained in this news release has been approved by Andy Randell, P. Geo., Vice President, Exploration of StrikePoint Gold. Mr. Randell is a qualified person as defined in NI 43-101.
For further information please visit our website: www.strikepointgold.com
ON BEHALF OF THE BOARD of STRIKEPOINT GOLD INC.
Shawn Khunkhun CEO and Director
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