Strikepoint GOLD Inc. Provides Update ON Yukon Exploration Activities IN 2018
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 UPDATE ON YUKON EXPLORATION ACTIVITIES IN
2018
January 8, 2019 - StrikePoint Gold Inc. (SKP:TSX.V)(STKXF:OTCQB) is pleased to provide
an update and summary for its Yukon assets on work completed in 2018.
Field operations were focused on the Golden-Oly and PDM targets along the North
Canol Road in eastern Yukon about 300 kilometers northeast of Whitehorse.
Golden-Oly Highlights
• Twenty-two grab samples from the 600-meter long Helios Vein, a 0.3 to 5 m
wide polymetallic quartz vein, returned grades from 1 to 3.75 g.t Au, trace to
1,150 g.t Ag and one sample at 2.94% Cu
• Diamond drilling at Colossus, with three holes completed totaling 682 meters.
The original program included a fence of nine holes across the intrusion to text
mineralization across the margins and within the granodioritic body itself but
was cut short due to administrative delays in permitting from Yukon
government.
PDM Highlights
• 96 grab samples from the Babylon polymetallic sheeted quartz veins, returned
grades from trace to 3.34 g/t gold, trace to 94.5 g/t silver and trace to 2.67 %
copper.
CEO Comment
Shawn Khunkhun, CEO, says, “Our work in the Yukon during the last two field seasons
has identified several occurrences of these mineralized sheeted vein systems on
intrusive margins. They carry elevated gold, silver and copper grades. But we’ve only
scratched the surface and were disappointed that we could not complete our planned
2018 drilling campaign. The potential of this style of deposit remains to be defined, but
the opportunity has been proven.”
The Helios Vein and Other Polymetallic Discoveries
The Helios Vein is a new discovery (originally reported on September 6th, 2018) on the
western edge of the Colossus Target, which has so far been traced for 600 meters along
a roughly north-south strike. The polymetallic vein is composed of quartz-arsenopyrite
Suite 507, 837 West Hastings Street Telephone: (604) 602-1440
Vancouver, BC, V6C 3N6 Facsimile: (604) 685-5777 www.strikepointgold.com
infilling factures that have formed in the carapace of the Colossus granodiorite
intrusion.
A total of twenty-two samples were collected from the vein, with grades ranging from
1.005 to 37.5 grams per tonne gold and trace to 1150 grams per tonne silver. The
highest grade silver sample also returned a value of 2.94% copper, although this is seen
as being anomalous. Helios is a series of parallel sheeted polymetallic quartz veins that
hosts massive sulfides and sulfosalts, including pyrite and arsenopyrite, with a collective
vein width at surface ranging from thirty centimeters to five meters.
The Zeus target is a ‘sister’ intrusion that lies approximately 7-kilometers to the south of
Colossus and represents another of the “Seven Wonders” targets. This intrusion is
partially exposed, and our prospecting team has discovered quartz-vein material like
that seen in the Helios Vein. To date a 60-meter strike length has been observed, with
grab sample assays returned from 1.355 to 4.06 grams per tonne gold and from trace to
43.6 grams per tonne silver.
Drilling the Colossus Target
A diamond drill program was conducted at the Colossus target between 1st July 2018
and 10th July 2018. Three holes were completed to a total of 682m, although the original
drill program was more expansive but cut short due to permitting delays imposed by
Yukon.
Drilling started in the metasedimentary country rock to the west of the intrusion to test
for polymetallic sheeted veins at depth before passing into the intrusion itself. Results
from the drilling provided multiple sub-gram per tonne hits for gold within broad
envelopes of arsenic-enriched sediments, typical of these systems. Highlights from the
drilling are shown in the table below:
Hole ID From (m) To (m) Results
NUG18-001 188 189 1m at 1.4g/t Au
NUG18-002 34 35 1m at 1.84 g/t Au
NUG18-003 182 183 1m at 75g/t Ag
243.5 244 0.5m at 0.4g/t Au, 54.5g/t Ag and 0.3% Cu
Although these results exhibit sparse gold grades, these initial holes were a significant
step out from the intrusion and on the margins of expected mineralization. The types of
veins observed, and the presence of elevated arsenic and bismuth are typical signatures
of intrusion related gold systems.
Suite 507, 837 West Hastings Street Telephone: (604) 602-1440
Vancouver, BC, V6C 3N6 Facsimile: (604) 685-5777 www.strikepointgold.com
Due to permitting restrictions at the time, additional holes that would have intersected
the Helios Vein and passed into the intrusion itself were not drilled this season.
The Babylon Target
The Babylon target lies within the PDM property and forms the western end of the
Seven Wonders Trend. Like the other targets within the Golden-Oly property, Babylon is
a large intrusion with mineralized sheeted veins around the periphery, dominated by
gold and copper minerals.
Additional surface work was completed in 2018 to expand on the results from 2017. A
total of 96 surface samples were collected during the season, with results from trace to
3.39g/t gold, trace to 94.5g/t silver and trace to 2.67% copper.
The combined 2017 and 2018 results highlight a strong copper-gold anomaly that is 500
meters by 500 meters in size, accompanied by intermittently mineralized veins
projecting several kilometers out into the country rock.
Permitting Update and Future Work
Work has continued through 2018 to bring value to the Yukon portfolio, and in October
Strikepoint was awarded Class 3 exploration permits for the Golden-Oly / PDM
properties. In November, an additional Class 3 permit was awarded for the Pluto
property in the Kluane area (although no work was undertaken on that property in
2018). Along with Mahtin in the Mayo-region, all major exploration targets within the
Yukon portfolio now hold five-year exploration permits for work.
These permits will allow for additional drilling across all target areas, including
completion of the test fence at Colossus and initial holes at PDM.
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
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 SGS Labs in Burnaby, Canada (ISO9001:2008 accreditation).
Suite 507, 837 West Hastings Street Telephone: (604) 602-1440
Vancouver, BC, V6C 3N6 Facsimile: (604) 685-5777 www.strikepointgold.com
About StrikePoint Gold
StrikePoint Gold is a well-financed gold exploration and development company. The
company controls a portfolio of gold properties in the Yukon and has a flagship silver
property in the Golden Triangle in British Columbia.
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
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.
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#
#
#
#
#
#
#
#
# #
#
1.8
6.7
37.5
4.29
1.72
5.07
2.87
5.54
1.06
2.26
1.31
2.75
2.86
2.52
2.461.21
3.36
1.005
1.835
1.365
1.695
0
69
90
78
90
56
90 39 54
84
29
9083
69
60
84
72
68
58
90
9061
398800 399000 399200 399400 399600
6989400 6989600 6989800 6990000 6990200
SGDS Hive
Colossus: 2018 Drilling and Anomalous Au-Grabs
1 cm = 50 m
| Author: SD | Date: Jan.2019 | Datum: NAD83 Zone 90 0.1 0.20.05 Km 1:5,000
±
Legend
"The Helios Vein"
The Nug Group
XY
2018 Colossus Collars
Drillhole Traces
2018 Colossus Select Grabs
Au (g/t)
# 1.0- 3.3
# 3.3- 6.7
# 6.7 - 37.5
Structures
STRUCTURE1
Ã
J2 - jointing
o
S0 - bedding
¡
S1 - foliation
Ü
V0 - veining
Ü
V1 - veining
HIVE Mapping (2018)
LITHOLOGY
Granodiorite
Mudstone
Sandstone
Vein
Canamax Mapping (1984)
Lithology
Black shale, siltstone, minor arenite
Aphanatic to qtz-fld porphyrtiic dyke
Fresh biotite monzonite to granodiorite
Watercourse
Contour
NUG18-DH003
NUG18-DH002
NUG18-DH001
2018 drill collars and trace locations shown with anomalous season grabs
(>1g/t Au) and, the late season discovery, trace of the "Helios Vein" overlaying
2018 HIVE mapping (medium transparency) and 1984 Canamax mapping
(strong transparency)