StrikePoint Reports Exploration Target on Hercules Gold Project of Between 819,000 and 1,018,000 Ounces Au Grading Between 0.48 and 0.63 g/t Au
StrikePoint Reports Exploration Target on
Hercules Gold Project of Between 819,000 and
1,018,000 Ounces Au Grading Between 0.48
and 0.63 g/t Au
Vancouver, British Columbia--(Newsfile Corp. - March 3, 2025) - StrikePoint Gold Inc. (TSXV: SKP)
(OTCQB: STKXF) ("StrikePoint" or the "Company") is pleased to announce the conclusion of its first
technical report on the Hercules Gold Project located in Nevada's prolific Walker Lane, including the
establishment of a drill defined, bulk tonnage Exploration Target.
Michael G. Allen, President and CEO of StrikePoint commented, "This initial technical report is a
significant step in providing valuable information on the Hercules Gold Project and as to the opportunity
and potential size and scope of this recently acquired asset.
The Exploration Target reviewed the current
and historical drilling on the project, but most notably we believe this previous drilling has only scratched
the surface of this project's potential, as we have multiple untested geophysical and geochemical
targets, some of which include visible gold at surface.
We believe that the Hercules Gold Project has the
potential to be Nevada's next multi-million ounce gold resource."
Report Conclusions
In accordance with the guidelines set forth in the National Instrument ("NI") 43-101, the report establishes
a baseline Exploration Target (the "Exploration Target") for the Hercules Gold Project ranging between
819,000 and 1,018,000 ounces of Gold ("Au") within 40.3 million to 65.6 million tonnes of mineralized
material with an estimated grade range between 0.48 and 0.63 grams per tonne ("g/t") Au.
The quantity
and grade are conceptual in nature, and there has not been sufficient exploration to define a mineral
resource, and it is uncertain if further exploration will result in the target being delineated as a mineral
resource. The Exploration Target Model has not been evaluated for reasonable prospects of eventual
economic extraction.
The technical report is being completed by Mr. Michael Dufresne, M.Sc, P.Geol., P.Geo, President and
CEO of APEX Geoscience Ltd. ("APEX"), an independent Qualified Person as defined by NI 43-101.
The technical report will include details on the Exploration Target Model (the "Exploration Target Model")
highlighted below and will be available on SEDAR (
www.sedar.com
) within 45 days of this news release.
Exploration Target
Table 1: Hercules Gold Project Exploration Target Model
*
Exploration Target
Tonnage Range (tonnes)
Grade Range (g/t) Au
Au Oz Range
40,300,000 - 65,600,000
0.48 - 0.63
819,000 - 1,018,000
*
The stated potential quantity and grade is conceptual in nature, and there has not been sufficient exploration to define a mineral resource, and it
is uncertain if further exploration will result in the target being delineated as a mineral resource.
The Exploration Target Model has not been
evaluated for reasonable prospects of eventual economic extraction.
The Exploration Target was completed utilizing a grade shell model in conjunction with the geological
understanding of the mineralization to date. The grade shells were then utilized to provide grade tonnage
curves with an Artificial Intelligence ("AI") estimated model that utilized the drillhole gold assays and
kriging. The Exploration Target and AI generated model will be utilized to guide future drilling in these
areas of known mineralization.
The Exploration Target used data from the Sirens, Hercules, Cliffs, Loaves, Lucky Rusty, Rattlesnakes,
and NorthEast showings on the Hercules Gold Project.
In this area there are a total of 306 historical
drillholes yielding a total of 31,776 m in the drillhole database along with data for 121 surface trenches.
The drillhole database contains a total of 18,409 sample interval entries, with the trenches providing
another 475 sample entries. A total of 5,620 sample intervals are contained within the mineralization
domains utilized for the Exploration Target.
Numerous targets remain untested and the previously drill showings remain open for further expansion
and potentially conversion to mineral resources.
Figure 1: Hercules Gold Project Exploration Target Model
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5044/243009_7be749e304d94be3_002full.jpg
Of note, there is insufficient data in the historical database to provide silver grade estimates.
The
drillhole and trench database contains a total of 5,520 samples with greater than or equal to 0.1 g/t Au.
The average Ag to Au ratio of those samples is 9.73:1. Silver was not modelled as part of the
Exploration Target.
Figure 2: Hercules Gold Project Map
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5044/243009_7be749e304d94be3_003full.jpg
Qualified Persons
All technical data, as disclosed in this news 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 NI 43-
101.
The Hercules Gold Project Exploration Target was completed by Mr. Michael Dufresne, M.Sc, P.Geol.,
P.Geo, President and CEO of APEX, an independent Qualified Person as defined by NI 43-101 and he
has approved of the disclosure herein.
About StrikePoint
StrikePoint is a multi-asset gold exploration company focused on building precious metals resources in
the Western United States and in Canada.
Both the Hercules Gold Project and the Cuprite Gold Project are located in Nevada's Walker Lane Gold
Trend where StrikePoint is rapidly becoming one of its largest holders 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
Cautionary Statement on Forward-Looking Information
This release contains forward-looking statements or forward-looking information under applicable Canadian securities legislation that may not be
based on historical fact, including, without limitation, statements containing the words "believe", "may", "plan", "will", "estimate", "continue",
"anticipate", "intend", "expect", "potential", and similar expressions. Forward-looking statements involve known and unknown risks, uncertainties,
and other factors which may cause the actual results, performance, or achievements of StrikePoint to be materially different from any future
results, performance, or achievements expressed or implied by the forward-looking statements. Forward looking statements or information in this
release relates to, among other things, the Hercules Gold Project technical report information, the results of previous field work, historical
programs and current exploration activities and review work, interpretation of the nature of the mineralization at the Company's projects and the
comparisons of mineralization on the StrikePoint's projects to other projects not owned by StrikePoint, results of any future mineral resource
estimates on any project owned by the Company, the potential to grow our projects, the potential to expand the mineralization and our beliefs
about the unexplored portion of the Company's projects, including Hercules Gold Project.
These forward-looking statements are based on management's current expectations and beliefs and assume, among other things, the ability of
the Company to successfully pursue its current development plans, that future sources of funding will be available to the Company, that relevant
commodity prices will remain at levels that are economically viable for the Company and that the Company will receive relevant permits in a timely
manner in order to enable its exploration and operations, but given the uncertainties, assumptions and risks, readers are cautioned not to place
undue reliance on such forward-looking statements or information. The Company disclaims any obligation to update, or to publicly announce, any
such statements, events or developments except as required by law.
For additional information on risks and uncertainties, see the Company's most recently filed annual information form ("AIF"), annual management
discussion & analysis ("MD&A") and information circular (the "Circular"), all of which are available on SEDAR at
www.sedar.com
. The risk factors
identified in the AIF and MD&A and the Circular are not intended to represent a complete list of factors that could affect the Company.
Neither the TSX Venture Exchange ("TSX-V") nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts
responsibility for the adequacy or accuracy of this news release.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/243009