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Strikepoint samples up to 67.3 g/t Au at Willoughby

2019-11-07 12:26 ET - News Release

Mr. Shawn Khunkhun reports

STRIKEPOINT REPORTS SURFACE ASSAYS UP TO 67.3 G/T GOLD AND 281 G/T AG AT THE WILLOUGHBY PROPERTY

Strikepoint Gold Inc. has released surface results from its mapping and sampling program at its 100-per-cent-owned Willoughby property, located east of Stewart in British Columbia's prolific Golden Triangle.

Strikepoint chief executive officer Shawn Khunkhun states: "We are extremely encouraged by the high-grade nature of samples received from newly exposed areas that are right on the margins of melting ice, demonstrating the vast potential of the Willoughby property. We eagerly await the pending 40 metres of channel samples and six drill hole assays."

2019 Willoughby sampling

The company received assay results from 86 grab samples from the 2019 surface program. Assay results range from trace to 67.3 grams per tonne (g/t) gold (Au) and trace to 281 g/t silver (Ag). A total of 18 samples assayed over one g/t Au.

Samples from the Willoughby nunataq that comprise the North-North, North, Edge, Wilkie, Wilby, Lower and Upper Icefall zones range from 0.07 to 67.3 g/t Au and two to 281.00 g/t Ag. The 32 samples were collected along installed-through Ferrata routes and areas of ice recession, with a notable area of mineralization around the Wilkie zone, returning 67.3 g/t Au and 164 g/t Ag grab sample.

Forty of these samples are from the Willow zone area, where extensive ice recession occurred to the north. A sampling of the newly exposed ground uncovered massive to semi-massive pyrite-pyrrhotite-galena in veins and replacement-style mineralization. Samples range from 0.07 to 16.5 g/t Au and two to 136 g/t Ag.

Forty metres of channel sample assays are pending, collected further along and across mineralization strike in the northern Willow area.

Willoughby project

The project is located along the eastern margin of the Cambria icefield, approximately seven kilometres east of the advanced-staged Red Mountain gold deposit that was recently acquired by Ascot Resources from IDM Mining. Upper Triassic Stuhini rocks and Lower Jurassic Hazelton volcano-sedimentary rocks underlay the property, subsequently intruded by an early Jurassic-aged hornblende-feldspar porphyry, like 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 and native gold. Eight gold and silver mineralized zones have been identified to date over a one-kilometre strike-length mineralization trend.

Quality assurance/quality control (QA/QC)

Surface samples for the 2019 exploration program were labelled and shipped with a chain of custody controls to the laboratory. The company implements a rigorous QA/QC program, including the insertion of standards, blanks and duplicate at regular intervals in the sample stream to monitor laboratory performance.

Drill core samples are submitted to the SGS Canada Inc. facility in Burnaby, B.C., for preparation and analysis. The SGS 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 subsample using a riffle splitter and, subsequently, 250 grams are pulverized. Analysis for gold is by 30-gram fire assay fusion with atomic absorption (AAS) finish with a lower limit of 0.005 part per million (ppm) and an upper limit of 10 ppm. Samples with gold assays greater than 10 ppm are reanalyzed using a 30-gram fire assay fusion with a gravimetric finish. Analysis for silver is by 30-gram fire assay fusion with gravimetric finish with a lower limit of two ppm and upper limit of 100 ppm. Samples with silver assays higher than 100 ppm are reanalyzed using a gravimetric silver concentrate method. All samples are also analyzed using a 33 multielemental geochemical package by four-acid digestion (inductively coupled plasma atomic emission spectroscopy).

Qualified person

The qualified person for this news release for National Instrument 43-101 is Marilyne Lacasse, professional geoscientist, project manager. She has read and approved the scientific and technical information that forms the basis for the disclosure contained in this news release.

About Strikepoint Gold Inc.

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 British Columbia's Golden Triangle.

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