Strikepoint GOLD Inc. Provides an Update ON Activity at the Porter Project, Stewart, British Columbia
Suite 507, 837 West Hastings Street Telephone: (604) 602-1440
Vancouver, BC, V6C 3N6 Facsimile: (604) 685-5777 www.strikepointgold.com
STRIKEPOINT GOLD INC. PROVIDES AN UPDATE ON ACTIVITY AT THE PORTER PROJECT,
STEWART, BRITISH COLUMBIA
October 16, 2018 - StrikePoint Gold Inc. (SKP:TSX.V)(STKXF:OTCQB) is pleased to provide
the following update for the Porter Project in Stewart, British Columbia, the highlights of
which include:
• Over 4,000 meters of diamond drilling across two major target zones
• Establishment of a permanent 20-person camp on site
• Addition of the Handsome Jack, Big, Bada and Boom claims to incorporate new
potential targets being exposed by retreating ice and become a major land
holder in the Stewart area. This increases the exploration area from the original
8 square kilometers to 33 square kilometers.
• Collection of 396 surface samples across the project area and with extensive
geological mapping
• Completion of engineering, environmental and safety projects to compliment
the exploration permit
• Acquisition of hyperspectral imagery and other data to help build a geological
model and generate new targets to support and expand mineral resources
An Aggressive Timeline
A Letter of Intent to acquire the Porter (Idaho) Project from Skeena Resources Limited
(TSX.V:SKE) was signed on May 2nd 2018, with the acquisition taking place on July 16th
2018. In the 12-weeks since mid-July, Strikepoint has established a permanent 20-
person camp, added 20.5 square kilometers of new prospective ground and completed
4,304 meters of diamond drilling across several targets on the property. Staff have also
completed engineering and environmental studies to compliment the exploration
permit.
Expanded Drilling Program
The initial drill plan for the Porter Project consisted of a single diamond drill exploring a
variety of targets around the old Porter-Prosperity Mines. Targets were developed to
either intersect historical veins and therefore confirm grades from previous campaigns;
to gather purely geological and structural information to aid in the development of a
new geological model or to test possible extensions to veins outside of the historical
resource area.
The drilling commenced on August 16th 2018, and a total of twenty one holes were
drilled from six pads in and around the Porter-Prosperity area. Drilling multiple holes
Suite 507, 837 West Hastings Street Telephone: (604) 602-1440
Vancouver, BC, V6C 3N6 Facsimile: (604) 685-5777 www.strikepointgold.com
from a single drill pad allowed maximum efficiency in the terrain whilst providing
enough data to project geological results in a three-dimensional environment.
On September 13th, 2018, a second diamond drill was added to the program to allow
exploration of the Silverado target. This area was also the site of historical mining, but
little to no exploration work had been completed. The long-standing idea is that
Silverado and Porter are connected systems that lay two kilometers apart and are
obscured by ice cover on the peak of Mount Rainey. A total of three holes were drilled
from two pads set back from the old workings to collect geological information as well
as test for additional mineralization.
A total of 4,304 meters were drilled between the Porter-Prosperity and Silverado targets
during a five-week period. Samples have been sent to SGS Labs in Burnaby, British
Columbia for assaying and results are pending.
Building A Major Land Package
On July 16th, 2018, Strikepoint acquired the Handsome Jack property from Trifecta Gold
Limited. The Handsome Jack property is contiguous with the eastern border of the
Porter Project and shows potential for parallel vein systems like those within the Porter-
Prosperity area. One of these, the Melvin Vein, was briefly mined in the 1920’s and is
thought to be an extension of the Angelo Vein on the Porter Property. Amalgamating
these two projects allows the development of a unified model and the inclusion of ore
veins that were outside of the original resource calculation.
Strikepoint then added an additional 20.5 square kilometers of land on September 12th,
2018 with the acquisition of the Big, Bada and Boom claims. These were previously
unclaimed areas of ground that were exhibiting potential for mineralization in areas
where ice has recently retreated around the periphery of the Cambria Icefield.
One of these new targets is the “Big Nunatak”, which is effectively a mountain currently
being exposed within the Cambria Icefield, approximately eight kilometers southeast of
Porter. The lithology consists of Jurassic-aged mudstones hosting pyrite mineralization,
which manifests as large gossanous zones at surface. The exposure lies close to the
Triassic- Jurassic lithological boundary, locally known as “The Red Line” and is known to
host many of the major deposits of the area. Initial observations include the comparison
to the outcrops at IDM Mining’s “Red Mountain” Mine, located eight kilometers to the
northeast of the Nunatak. Field work was undertaken on this new target area and a total
of 47 surface samples were collected for assaying, the results of which are pending.
Extensive Surface Work
Suite 507, 837 West Hastings Street Telephone: (604) 602-1440
Vancouver, BC, V6C 3N6 Facsimile: (604) 685-5777 www.strikepointgold.com
A dedicated team of geologists spent a significant amount of time on the site collecting
geological data from surface. Much of the existing information was collected from the
1920’s and the 1980’s and needed to be “ground truthed” in the field for accuracy.
A total of 396 samples were collected from all areas of the project, with the focus being
on the Porter and Silverado targets. There are currently 144 assays pending.
The initial results were released on September 18th, 2018 and included assays up to
1,425 ounces per ton of silver from samples collected around Silverado.
This geochemical sampling program is the most comprehensive program that the Porter
Project has seen and takes in new areas that are being exposed through receding
glaciers. A profile is developing that shows the potential for gold and copper
mineralization within the project area as well as the expected silver.
All data from surface work, historical maps and the 2018 drilling program will be
incorporated into a new geological model that will be generated over the off-season.
Establishing A Permanent Camp
The Porter Project had no existing infrastructure to support an exploration project, and
as such a camp was built by Matrix to the south of the historical workings. It was
decided to use a series of metal-sided buildings and weather havens to allow extended
use of the camp in future years, and to provide adequate protection from snow and
rockfalls for onsite staff. These buildings will also allow for a rapid deployment to site in
the spring thus making the absolute most of the exploration season.
Other Value Adding Studies
The exploration permits for the site were taken over from Skeena who applied for them
in 2017 / 2018. Several aspects of this permit had to be fulfilled, including a slope
stability and avalanche potential study. Strikepoint also brought an independent mining
engineer to site to assess the underground workings for potential access in 2019.
In September 2018, the site was passed over by a series of satellites that compiled a
hyperspectral study of the Porter-Prosperity, Silverado, Handsome Jack and Glacier
Creek sites. These studies help identify mineralization, alteration and significant
geological units through sensitive changes in the light spectrum. Information from this
study will allow for the application of the geological model over a project sized area and
help identify exploration targets for 2019.
Off Season Work
Suite 507, 837 West Hastings Street Telephone: (604) 602-1440
Vancouver, BC, V6C 3N6 Facsimile: (604) 685-5777 www.strikepointgold.com
The plan going forwards will be to compile all the data collected in 2018 and incorporate
this with a collection of historical data and maps that have been curated over the
summer. This will form one of the most comprehensive studies of the project area,
which will then be used to generate a new three-dimensional geological model, thus
delineating targets for future exploration activity.
Efforts will also begin to gain permits to drill for areas that are currently outside of the
Porter-Silverado boundary. This will include Handsome Jack, Glacier Creek and the Big
Nunatak which have all shown promise from work undertaken during 2018. A series of
post-season and assessment reports will be authored and filed with the BC Government
as is standard
Assays results will continue to be processed and released in due course for the drill
program. Complimentary studies of mineralogy and metallurgy will parallel these results
to update and confirm the information held in the historical resource.
Onsite activity is planned to perform snow monitoring and control measures through
the winter to increase the knowledge of year-round conditions at the project site, to
protect assets and to allow the earliest possible access to the camp in the spring.
Please refer to the Strikepoint Website for property maps, results and drill plans.
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.
QA/QC
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
Suite 507, 837 West Hastings Street Telephone: (604) 602-1440
Vancouver, BC, V6C 3N6 Facsimile: (604) 685-5777 www.strikepointgold.com
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
For more information, contact:
Shawn Khunkhun
604-602-1440
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defined in the policies of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this release.