Strikepoint Gold Announces 2021 Drill Programs on 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 on its 100% owned Porter Silver project and gold properties- Willoughby Silver Mines located east of the mining town of Stewart in British Columbia’s prolific Golden Triangle. Drilling will begin at the Porter projects, targeting known vein extensions and large regional silver targets within the system that is home to the largest historical producers of pure silver in the Stewart area: the famous Prosperity and Porter-Idaho mines. , with drilling to begin at Willoughby in mid-summer.
StrikePoint President and CEO Shawn Khunkhun said, “Our 2021 drill programs are the most aggressive in the history of the Company. We have two primary objectives for drilling at the Porter Silver project: 1) to exit high grade silver mineralization mined in historic workings at the Prosperity / Porter Idaho and Silverado mines, and 2) to drill the initial holes in the “Big Flex ”, by targeting the structural intersection of the two prolific vein systems, a project that will take place beneath the Silverado ice cap. At Willoughby, we will continue to exit drilling several previous high-grade gold-silver interceptions, building on the technical breakthrough we achieved during the 2020 season in the field. “
An initial 5,000 meter Phase I drilling program will begin shortly at the Porter Silver project. Targets include the extension of very high grade silver veins mined and intersected in historic drill holes at the Prosperity and D veins. In addition, drilling will target extensions of the D and Blind veins to the north, and for the southern extension of veins 1 and 2 at the Silverado mine. The northeast trending drill holes will target the “Big Flex” structural intersection of the approximate north-south trending Prosperity with the North-west-southeast trending Silverado. It is a target of more than 2,300 meters long between these old silver mines.
A second drill rig will be mobilized on the Willoughby property to complete an initial 3,000 meter program. The drilling campaign has three main objectives: 1) to monitor high-grade drill intersections in 2020 (see StrikePoint press release of February 3, 2021, 10.0 g / t gold over 7.72 meters), 2) extensions along the direction of the Edge Zone mineralization discovered during the 2020 surface sampling program, and 3) test the extension of the mineralized horizon in a northwesterly direction to the south- is to connect mineralized zones from recent and historic drilling programs as a path to the Company’s Initial Resource Estimate at Willoughby.
In addition to drilling, field work at Willoughby and Porter will also include detailed field mapping and sampling, monitoring of high grade surface results for the 2020 season (see new version of December 13, 2020, until ‘at 37.3 g / t gold in Willoughby and on January 21, 2021, until 3,840 g / t silver at Porter).
Willoughby Gold Project
Willoughby is located along the eastern margin of the Cambria Icefield, approximately seven kilometers east of the late stage Red Mountain deposit which was recently acquired by Ascot Resources from IDM Mining. The property rests on Upper Triassic Stuhini rocks and Lower Jurassic Hazelton volcano-sedimentary rocks that were penetrated by an Early Jurassic hornblende-feldspar porphyry, similar and potentially comagmatic with the Goldslide intrusive suite at Red Mountain. The intrusive mineralized zones consist of primary pyrite with a lesser amount of pyrrhotite, sphalerite, galena, chalcopyrite and native gold. Eight zones mineralized in gold and silver have been identified to date on a one kilometer longitudinal extension of mineralization.
The Porter Project hosts two historically producing silver rich vein networks: the Silverado and the Prosperity / Porter Idaho. They are located over two kilometers apart, flush with opposite sides of Mount Rainey, overlooking the town of Stewart. The project is strategically located 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 performed in the early 1900s. The Prosperity-Porter Idaho veins were the focus of the initial work. The mineralization consists of galena-tetrahedrite / tennantite-pyrite hosted in six parallel dip shear zones, traced 200 meters at surface and one kilometer down dip with widths between two and thirteen meters. Historical company and government records indicate that the high-grade silver ore was mined by Premier Mining between 1929 and 1931 and produced 27,123 tonnes with recovered grades of 2,542 g / t silver (73 , 8 oz / t) and 1 g / t gold (making approximately 2.2 million ounces of silver). The ore was transported to the tide by an aerial tram and shipped directly to the smelters without any concentration being required. These production records are historical in nature before NI43-101. StrikePoint has not independently verified the numbers and should not be relied upon.
The Qualified Person for this National Instrument 43-101 press release is Marilyne Lacasse, P. Geo, Technical Consultant. It has read and approved the scientific and technical information which forms the basis for the disclosure contained in this press release.
StrikePoint Gold is a gold exploration company focused on creating high-grade precious metal resources in Canada. The company controls two late-stage exploration assets in British Columbia’s Golden Triangle. The former high-grade silver Porter project and the high-grade Willoughby gold property adjacent to the Red Mountain deposit. The company also has a portfolio of gold properties in the Yukon.
ON BEHALF OF THE BOARD OF DIRECTORS
STRIKEPOINT GOLD INC.
Chairman and CEO and Director
For more information please contact
StrikePoint Gold Inc.
Shawn Khunkhun, CEO and Director
T: (604) 602-1440
Statements contained in this press release that are forward-looking statements are subject to various risks and uncertainties relating to specific factors disclosed under “Risk Factors” and elsewhere in documents filed by the Company with Canadian securities regulators. This information contained herein represents the best judgment of management at the date hereof based on the information currently available. The company assumes no obligation to update forward-looking statements, 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.