Strikepoint GOLD Inc. Releases Drill Results from the Porter Project, British Columbia, Including 5-METERS at 819 Grams PER Tonne Silver
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STRIKEPOINT GOLD INC. RELEASES DRILL RESULTS FROM THE PORTER PROJECT,
BRITISH COLUMBIA, INCLUDING 5-METERS AT 819 GRAMS PER TONNE SILVER
January 9, 2019 - StrikePoint Gold Inc. (SKP:TSX.V)(STKXF:OTCQB) is pleased to provide
results for the 2018 drilling campaign at their Porter Project in Stewart, northwestern
British Columbia:
• 4,304 meters of diamond drilling from surface completed on site in 2018,
focusing on the Porter and Silverado historical mines.
• Hole PIP18-010 intersected 5 meters silver at 819 grams per tonne between 68
meters to 73 meters depth along the D-Vein at Porter.
• Other highlights include 1 meter at 2,241 grams per tonne silver in PIP18-012
along the Blind Vein and 2 meters at 637 grams per tonne silver.
• PIP18-014 intersected 0.5 meters at 2,506 grams per tonne which appears to be
a previously untested lower continuation of the D-Vein.
• Intercepts along the Blind Vein are significant as this structure was not included
in the 2012 resource calculation, yet it lies between the D- and Prosperity Veins
(both used in the historical resource).
• Drilling has upheld the grades used in the historical resource calculation and give
further confidence in the 13-million-ounce silver reserve numbers.
• For the first time in the history of exploration at this site, entire lengths of core
have been assayed and as such has demonstrated extensive lower grade
mineralization in smaller, sympathetic structures paralleling the main veins.
• Drilling has highlighted mineralization along other structures outside of the
historical resource area and decreased the ‘gap’ between the Porter and
Silverado mines, showing potential for continuity under the peak of Mount
Rainey.
Targeted Drilling Program
Drilling commenced at the Porter Project on August 16th, 2018 and concluded on
September 22nd, 2018. A total of 4,304 meters of diamond core was retrieved using two
rigs, with one focused on Porter (southern flank of Mount Rainey) and the second
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testing the northern Silverado veins. Twenty-five holes were completed during the
campaign, with 22 from Porter and 3 at Silverado.
Drilling had four primary objectives to test the viability of the Porter project:
• To test the grades encountered historically and therefore used in the 2012
resource calculation (specifically the D-Vein and Prosperity Vein)
• Test for mineralization at depth along several undrilled veins on the Porter side
of Mount Rainey (Blind, Wake and Angelo Veins)
• Completion of holes to explore the possible extension of the Silverado Veins and
their relationship to the system at Porter, 2-kilometers away.
• To collect geological information in order to start building a geological model of
the mountain and the mineralized systems
It is felt that each of these objectives was satisfactorily met by the 2018 drilling
campaign.
2018 Results
The following table highlights results from each hole drilled in 2018, including the target
and the relation to the historical resource estimate. All intervals greater than 30 grams
per tonne silver and over 0.5 meters in width are reported.
Hole ID Target Included /
Outside
Resource
From To Grade
PIP18-001 Eastern extension of Outside 56m 56.5m 0.5m at 58g/t Ag
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Angelo Vein 85.5m 87m 1.5m at 44g/t Ag
PIP18-002 Western
disseminated veins
from Angelo
Outside 57.5m 58m 0.5m at 220 g/t Ag
PIP18-003 Western
disseminated veins
from Angelo
Outside No Significant Intervals
PIP18-004 Geological Hole Only Outside No intercepts (as expected)
PIP18-005 Possible blind
extension of Angelo
Vein
Outside No Significant Intervals
PIP18-006 Wake / Angelo Vein
Extensions
Outside 75.5m 76m 0.5m at 51g/t Ag
PIP18-007 North extension of
Wake Vein
Outside 74.5m 75m 0.5m at 46g/t Ag
96m 97m 1m at 34g/t Ag
PIP18-008 South extension of
Wake Vein
Outside 21m 21.5m 0.5m at 40g/t Ag
PIP18-009 D-Vein Included 53m 55.5m 2.5m at 184g/t Ag,
including 0.5m at
663g/t
63m 63.5m 0.5m at 146g/t Ag
PIP18-010 D-Vein Included 68m 73m 5m at 819g/t Ag
PIP18-011 D-Vein Included 68m 69.5m 1.5m at 87g/t Ag,
including 0.5m at
230g/t Ag
98m 99.5m 1.5m at 66g/t Ag
PIP18-012 Blind Vein, south
extension
Outside 2.5m 4m 1.5m at 70g/t Ag
33.5m 34.5m 1m at 2241g/t Ag,
including 0.5m at
3297g/t Ag (interval
also have 1m at 6.2%
Pb and 5% Zn)
92m 93.5m 1.5m at 40g/t Ag
107.5m 108m 0.5m at 98g/t Ag
168m 173.5m 5.5m at 50g/t Ag,
including 1.5m at 98g/t
Ag and 0.5m at 69g/t
Ag
PIP18-013 Blind Vein Outside 22.5m 23.5m 1m at 42g/t Ag
34.5m 36.5m 2m at 43g/t Ag
PIP18-014 Blind Vein Outside 25m 30.5m 5.5m at 27g/t Ag,
including 1.5m at 63g/t
Ag
172m 174m 2m at 637g/t Ag,
including 0.5m at
2507g/t Ag
PIP18-015 Blind Vein Outside No Significant Intervals
PIP18-016 Blind Vein Outside 14.5m 15.5m 1m at 90g/t Ag
PIP18-017 Blind Vein Outside 33.5m 35m 1.5m at 259g/t Ag
PIP18-018 Blind Vein Outside 14m 16m 2m at 190g/t Ag
36m 40m 4m at 84.5g/t Ag
PIP18-019 Prosperity Vein Included No Significant Intervals
PIP18-020 Honest John Vein
(2018 Discovery)
Outside 5m 7.5m 2.5m at 38g/t Ag
70m 70.6m 0.6m at 95g/t Ag
PIP18-021 Honest John Vein
(2018 Discovery)
Outside 1.23m 2.9m 1.67m at 58g/t Ag
PIP18-022 Honest John Vein
(2018 Discovery)
Outside 4.5m 6.5m 2m at 47g/t Ag
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SIL18-001 Silverado Veins Outside 171.5m 173m 1.5m at 154g/t Ag
SIL18-002 Silverado Veins Outside 128m 132m 4m at 53g/t Ag
SIL18-003 Silverado Veins Outside No Significant Intervals
Discussion of Results
The results have reinforced the grades used in the 2012 resource calculation and so lend
confidence to the overall resource. The 5-meter intercept of 819 grams per tonne silver
along the D-Vein is inline with historical numbers and well above the 170 grams per
tonne cut off grade used in the calculations. It also highlights that ore remains in the
ground despite the historic mining activity on site.
No significant results were returned from the one drill hole at Prosperity apparently due
to the angle of the hole not being steep enough to intercept the vein.
The Blind Vein lies between the D- and Prosperity Veins and had a total of seven drill
holes targeted along sections in 2018. Each of these holes demonstrated mineralization,
with only one (PIP18-015) having grades under 30 grams per tonne silver (and therefore
reporting as ‘no significant intervals’). The Blind Vein was historically mined but was one
of the last to be developed on the site, and so was not as exploited as the other two
major veins on site.
The two other historically recognized veins (Wake, Angelo) at Porter also demonstrated
mineralization although the veins intercepted were less coherent producing more
disseminated, localized pockets of mineralization along a general trend. Such styles of
mineralization are also noted along the major veins, so it is possible that richer sections
remain at depth and are yet to be drilled.
At Silverado, several intercepts have proven the extension of the discrete vein systems
although the grades were lower than anticipated. The nature of the Porter-Silverado
system seems to show veins pinching and swelling with grades fluctuating along them,
so mineralization of any level along the structure is very encouraging. Intercepts at
Silverado are also stepped back around 150 meters from the furthest extents of the old
workings, and so does show some continuity that could connect the Porter and
Silverado systems.
Overall, the results show that silver mineralization is present throughout the project
area and in a wider range of grades and ore bodies than previously thought.
Revising a Geological Model
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Data collected from the drilling and surface mapping completed in 2018 is now being
incorporated with decades of historical information and built into a three-dimensional
geological model.
While this is still in the early phases, it is already showing that the original concept of
five steeping dipping veins is oversimplified, and that several other geological
mechanisms are at play that also form trap sites for mineralization.
Perhaps the most interesting concept currently is that the main D-Vein is part of a
synclinal ‘bowl shape’ fold that encapsulates the Blind and Prosperity Veins. This
structure would account for the historical veins encountered in the “H” and “I” Tunnels,
and the newly discovered ‘Flat Vein / Honest John Vein” to the west of the historic
Porter system. It also places the more disseminated Wake and Angelo veins on the
outside of this structure and could explain the variation we see in structure and
mineralogy.
The concept of mineralized ‘bowl shaped’ features is not unprecedented in the area,
with the nearby Premier Mine (Ascot Resources) having a similar shaped structure
hosting their main high-grade (gold) targets.
Work on the geological model is ongoing and is subject to change as more information is
added to the dataset.
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
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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
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.