StrikePoint Provides Exploration Update on its Recently Acquired Hercules Gold Project,
StrikePoint Provides Exploration Update on its
Recently Acquired Hercules Gold Project,
Walker Lane, NV
Visible Gold Documented in Three Separate Widely Spaced
Locations
Vancouver, British Columbia--(Newsfile Corp. - September 24, 2024) - StrikePoint Gold Inc. (TSXV:
SKP) (OTCQB: STKXF) ("StrikePoint" or the "Company") is pleased to provide an update the wholly
owned Hercules Gold Project located in Nevada's Walker Lane approximately 20km east of the
Comstock Lode where historically 14 million oz of gold were produced.
Michael G. Allen, President and CEO of StrikePoint commented, "One of the significant outstanding
features of the Hercules Gold Project is the scale of the gold and the scale of the property.
Visible gold
has been documented at surface at three separate widely spaced locations.
Additionally, previous
geophysical surveys indicate the presence of an extensive alteration zone that is approximately 13 km
long and 6 km wide that is coincident with the known mineralization, all of this is contained within the 100
square kilometer property."
The project's acquisition by StrikePoint was announced
September 3, 2024
.
Hercules Gold Project Geology:
The Hercules Gold Project features a large-scale low-sulphidation epithermal gold target. Potentially
economically significant gold grades/thicknesses have been intercepted by multiple operators with over
300 drillholes over a large area suggesting a strong gold mineralizing system. Drilling has largely been
focussed on the northern portion of the property focussed on 5 target areas: Hercules, Cliffs, Loaves,
Northeast and Rattlesnakes. These targets can now be drilled under an existing Plan of Operations
exploration permit.
Additional targets, Sirens and Como Comet can be drilled under two Notice of Intent
Permits
Figure 1 Hercules Gold Project targets and surface samples
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Extensional structures appear to have been the primary conduits along which gold and silver
mineralization was emplaced into the volcaniclastic sequence on the Hercules Gold Project. Broad
zones of disseminated gold mineralization appear to have been formed where the metal bearing
structures have intersected permeable units (e.g., block-and-ash tuff) in the volcaniclastic sequence.
Mineralization has largely been oxidized with local relicts of transitional mineralization remaining.
Hercules Target:
The Hercules target is the southeastern most of the targets available for drilling under the existing Plan of
Operations.
It is one of the three locations on the Project that visible gold has been documented in
surface samples.
Figure 2, Hercules Target Visible Gold
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A historic rock chip sampling program identified a potential high-grade core of the target, within a broad
zone of gold mineralization associated with widespread silicification.
Drilling appears to have confirmed
the presence of a high grade near surface core of mineralization.
Induced Polarization (IP) geophysical
work suggests a 2km long continuous NNE trending structural zone.
The IP data as well as drilling data,
suggests additional structures may be found to the West of the Hercules target towards the Cliffs target.
The area between the Cliffs and Hercules target is covered by late dacite and landslide deposits.
No
drilling has been carried out between the two targets, but both are open for lateral expansion as recent
drilling has identified new mineralization between the two targets.
Figure 3, Hercules Target Schematic Section
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To the East of the Hercules showing is the Telephus vein where visible gold was also documented.
Figure 4 Telephus vein visible gold
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Cliffs Target:
The Cliffs target is approximately 600m to the west of the Hercules target and is available for drilling
under the existing Plan of Operations.
The Cliffs and Hercules showings are separated by a late dacite
and landslide cover sequence.
A new geological interpretation of ring (extensional) structures controlling
mineralization has led to recent drilling being undertaken in a new orientation.
Results of this drilling has
given predictable mineralization and has encountered gold mineralization further to the east (towards the
Hercules showing) than previously documented.
Figure 5, Cliffs Target Schematic Section
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Both the Hercules and Cliffs Targets remained open along strike, across strike, and at depth.
Additional
work to evaluate the Loaves, Lucky Rusty, Rattlesnakes, Sprite and North East target is ongoing.
If
warranted, drilling could be included in an update to the existing Plan of Operations permit.
Southern Targets:
The southern portion of the Hercules project has received very little modern exploration.
An airborne
geophysical survey (Magnetics and Radiometrics) of the entire Hercules Gold Project identified several
targets of note and two were permitted for drilling.
The Sirens target has reported historical intercepts of 38.10m grading 0.64 g/t Au (ending in 0.85 g/t Au)
in hole BR08-06, and 25.91 m of 0.68 g/t Au (ending in 0.91 g/t Au).
Panned gold was collected at the
Sirens showing and near a historical working at the Pony Meadows target. The Sirens target is
permitted for drilling under a Notice of Intent Level Permit.
Both targets appear to demonstrate that
mineralization is controlled by large scale ring structures similar to the Hercules and Cliffs targets located
2-5 km to the North.
Drilling at Pony Meadows could take place under a modification to the Sirens Notice
of Intent Permit, or potentially a separate Notice.
Figure 6 Sirens Panned gold concentrate
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Figure 7 Pony Medows Panned Concentrate showing visible gold
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The Como Comets target is also permitted for exploration drilling under a Notice of Intent.
This thought to
be the extension of the past producing Como District held by Newmont Mining Corporation, through its
subsidiary Fronteer Development USA.
The Como District is an inlier to within StrikePoint's larger
Hercules Gold Project.
(See Figure 1.)
Hercules Gold Project Land:
The Hercules Gold Project consists of 1,323 unpatented mining claims and 4 patented mining claims
covering approximately 100 square kilometers of prospective Walker Lane geology located one hour
from Reno, Nevada.
Detail of the transaction to acquire the Hercules Gold Project can be found on the
Company's
September 3, 2024
news release.
The acquisition of Hercules in August 2024, at a minimal acquisition cost, gives StrikePoint a quality
early-stage gold-silver exploration project in a Tier 1 jurisdiction with significant potential and drill ready
targets across a large land package known mineralization and many untested targets.
StrikePoint is
excited about the opportunity the Hercules Gold-Silver Project provides.
We are carefully reviewing the
available historical data available to guide upcoming exploration programs.
Figure 8: Hercules Project Location Map
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Qualified Person Statement
All technical data, as disclosed in this press release, has been verified by Michael G. Allen, P. Geo,
President and CEO of the Company. Mr. Allen is a qualified person as defined under the terms of
National Instrument 43-101.
About StrikePoint
StrikePoint Gold is a multi-asset gold exploration company focused on building precious metals
resources in Canada and the Western United States.
Both the Cuprite Gold Project and the Hercules Gold Project are located in Nevada's Walker Lane Gold
Trend where StrikePoint Gold is rapidly becoming one of the largest holder of mineral claims with
approximately 145 square kilometers of prospective geology under claim.
The Walker Lane hosts AngloGold Ashanti's multi-million once Silicon Gold and Merlin discoveries and
Kinross's Tier - 1 Round Mountain Mine.
In addition, the Company controls two advanced-stage exploration assets in British Columbia's Golden
Triangle: the past-producing high-grade silver Porter-Idaho Project and the high-grade gold Willoughby
Project.
ON BEHALF OF THE BOARD OF DIRECTORS OF STRIKEPOINT GOLD INC.
"Michael G. Allen"
Michael G. Allen
President, Chief Executive Officer & Director
For more information, please contact:
StrikePoint Gold Inc.
Knox Henderson, Investor Relations
T: (604) 551-2360
E:
W:
www.strikepointgold.com
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/224299