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Strikepoint expands sampling program at Willoughby

2019-08-07 09:23 ET - News Release

Mr. Shawn Khunkhun reports


Strikepoint Gold Inc., due to encouraging new exposures of sulphide mineralization and prospective alteration and intrusive rocks, has begun an expanded surface sample program of hand-trenching and channel sampling at its 100-per-cent-owned Willoughby gold property. Significant melting of alpine glaciers has occurred since the last significant exploration program over 20 years ago, particularly on the north and west sides of the property. Willoughby is located near Stewart, B.C., in British Columbia's prolific Golden Triangle, seven kilometres east of Ascot Resource's advanced-stage Red Mountain gold project.

Strikepoint is currently drilling the property; at the time of this release, six holes for 800 metres completed at the high-grade North zone. One hundred ninety-four core samples from the initial two drill holes have been shipped for rush analysis, as well an initial batch of 47 surface samples.

"New exposures of outcrop with strong pyrite and sphalerite mineralization, occurring as disseminated, stock, replacement and massive sulphide pods and veins is very encouraging to our technical team," said Strikepoint's chief executive officer, Shawn Khunkhun. "The presence of copper and zinc sulphides correlates with high-grade precious metal values at the North zone where we are currently drilling. Expanding our surface exploration program should allow for a quick turnaround of assays prior to the end of the field season in the autumn. These areas are located in much gentler terrain than the steep topography where we are currently drilling."

Willoughby project

Gold and silver mineralization at Willoughby are hosted within Jurassic volcanic and sedimentary rocks, associated with a Goldslide suite intrusive phase, similar to the adjacent Red Mountain deposit.

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 and 20 kilometres northeast of Strikepoint's Porter silver property. The Willoughby 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 primarily comprise 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 mineralization trend.

Quality control/quality assurance (QA/QC) and qualified person

Samples for the 2019 program are collected by experienced geologists and technicians, placed in sealed bags, and shipped to SGS Labs in Burnaby, B.C., for sample preparation, gold and multielement ICP analysis. A QA/QC program, including the insertion of standards and blanks, has been implemented. The 2019 exploration program is performed under the supervision of Marilyne Lacasse, professional geoscientist, qualified person as defined by National Instrument 43-101. Ms. Lacasse has prepared and approved reviewed the technical data in this news release.

About Strikepoint Gold Inc.

Strikepoint is a gold exploration company focused on building high-grade precious metals resources in Canada. The company controls two advanced-stage exploration assets in British Columbia'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.

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