Drilling at Cuprite Gold Project Returns Multiple Gold Intercepts Including 6.10 Meters Grading 0.74 g/t Au and 14.75 g/t Ag

Rhea-AI Summary

StrikePoint Gold has revealed results from its first drill program at the Cuprite Gold Project in Nevada's Walker Lane gold trend.

The five-hole, 3,100-meter reverse circulation drilling program yielded notable gold and silver intercepts in four out of five holes. Highlights include 6.10 meters grading 0.74 g/t gold and 14.75 g/t silver in hole SKP24-001.

Results suggest potential for higher-grade mineralization, and the company plans to use drill samples for further mapping and targeting in another phase of drilling.

The project is in an area known for significant mines like Kinross's Round Mountain Mine.

Positive

• Reported gold and silver mineralization in four out of five holes, indicating a promising exploration.
• Best intercept is 6.10 meters grading 0.74 g/t Au and 14.75 g/t Ag in hole SKP24-001.
• Potential for significant higher-grade mineralization, aligning with geophysical and surface mercury anomalies.
• Strategically located in Nevada's Walker Lane gold trend, home to major operations like Kinross's Round Mountain Mine.
• CEO expresses optimism about the preliminary results and future potential of the epithermal system.

Negative

• One of the five holes (SKP24-002) returned no significant intercepts.
• Mineralization thickness not yet estimated, leaving some uncertainty about the true extent.
• Results are preliminary and additional drilling and mapping are needed to confirm higher-grade targets.
• SKP24-005 was terminated in mineralization, indicating incomplete data for full evaluation.

Vancouver, British Columbia--(Newsfile Corp. - June 4, 2024) - StrikePoint Gold Inc. (TSXV: SKP) (OTCQB: STKXF) ("StrikePoint" or the "Company") is pleased to announce the results of its inaugural drill program on the Cuprite Gold Project located in Nevada's Walker Lane gold trend.

The Company completed 5 holes totaling approximately 3,100 meters of reverse circulation drilling on the Cuprite Gold Project.

Hole ID	From (m)	To (m)	Length (m)	Au g/t	Ag g/t
SKP24-001	362.71	374.90	12.19	0.46	10.10
including	364.24	370.33	6.10	0.74	14.75
SKP24-002	No Significant Intercepts
SKP24-003	271.27	275.84	4.57	0.17	1.97
and	475.49	480.06	4.57	0.14	0.93
SKP24-004	397.76	403.86	6.10	0.21	4.15
and	419.10	425.20	6.10	0.17	2.23
SKP24-005	364.24	365.76	1.52	0.11	1.10
and	425.20	426.72	1.52	0.16	1.10
and	475.49	484.63	9.14	0.19	5.95
incl	478.54	483.11	4.57	0.29	9.13
and	531.88	536.45	4.57	0.20	2.00
and	553.21	554.74	1.52	0.21	1.90
and	560.83	569.98	9.14	0.17	2.00

 

Length reported above is sample length, it is too early to estimate true thickness of mineralization. SKP24-005 was terminated in mineralization.

Michael G. Allen, President and CEO of StrikePoint said, "Gold and silver assay results from this first drill program are encouraging. Reportable gold-silver mineralization in four of the five holes over a distance of approximately 1,600 meters is coincident with the extensive surface mercury anomaly and the geophysical work the company has completed. These results confirm the potential of this epithermal system to host higher grade mineralization. Next steps will be to use the RC chips to map clay alteration in the 3^rd dimension, further refining the targets for a potential next phase of drilling targeting higher grade mineralization perhaps associated with feeder structures on the property."

Figure 1: Cuprite Gold Project Drillhole Locations, Hg Soil Anomaly and Structures

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5044/211584_1ee45e4e849fc9e5_002full.jpg

Drilling Discussion:

Gold was encountered in four of five holes completed on the Cuprite Gold Project. Mineralization was a combination of oxide and sulphide gold, likely controlled by structures. Based on associated elements, mineralization appears to be caused by a low-sulphidation, epithermal system, similar AngloGold's nearby, newly discovered Silicon and Merlin deposits. In the Walker Lane of Nevada, low sulphidation systems create several mines, most notably the multi-million Au oz Round Mountain Mine operated by Kinross.

About StrikePoint

StrikePoint Gold is a gold exploration company focused on building precious metals resources in Canada and the Western United States.

The Cuprite Gold Project consists of approximately 574 unpatented claims covering approximately 44-square kilometers, located 15-kilometers south of Goldfield Nevada, and 85-kilometers northwest of Beatty. The project is easily accessible by Highway 95 on the western margin of the property. The project is located within the Walker Lane Gold Trend, which hosts AngloGold's exciting Silicon Gold and Merlin discoveries approximately 75-kilometers southeast of Cuprite.

In addition to Cuprite Gold Project, 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.

QAQC

Samples were split in the field using industry standard techniques. Samples were sealed in individual numbered bags prior to shipment to ALS Global in Reno, Nevada for sample preparation, prior to assaying in ALS Global facilities in North Vancouver.

Gold is determined by fire-assay fusion of a 50-gram sub-sample with atomic absorption spectroscopy (AAS). Various metals including silver, arsenic, and antimony are analyzed by inductively-coupled plasma (ICP) atomic emission spectroscopy, following multi-acid digestion. Mercury was assayed using low temperature aqua regia techniques. ALS Geochemistry meets all requirements of International Standards ISO/IEC 17025:2017 and ISO 9001:2015. ALS Global operates according to the guidelines set out in ISO/IEC Guide 25.

The Company maintains a robust QA/QC program that includes the collection and analysis of duplicate samples and the insertion of blanks and standards (certified reference material).

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.

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
T: (604) 551-2360
E: kh@strikepointgold.com
W: www.strikepointgold.com

Cautionary Statement on Forward-Looking Information

Certain statements made and information contained herein may constitute "forward looking information" and "forward looking statements" within the meaning of applicable Canadian and United States securities legislation. These statements and information are based on facts currently available to the Company and there is no assurance that actual results will meet management's expectations. Forward-looking statements and information may be identified by such terms as "anticipates", "believes", "targets", "estimates", "plans", "expects", "may", "will", "speculates", "could" or "would".

All of the forward-looking statements made in this document are qualified by these cautionary statements. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated, forecast or intended and readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions which may have been used. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking information. Accordingly, there can be no assurance that forward-looking information will prove to be accurate and forward-looking information is not a guarantee of future performance. Readers are advised not to place undue reliance on forward-looking information. The forward-looking information contained herein speaks only as of the date of this document. The Company disclaims any intention or obligation to update or revise forward-looking information or to explain any material difference between such and subsequent actual events, except as required by applicable law.

Neither 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/211584

FAQ

What are the results of StrikePoint Gold's Cuprite Gold Project drilling program?

The inaugural drill program revealed gold and silver intercepts in four out of five holes, with the best intercept being 6.10 meters grading 0.74 g/t gold and 14.75 g/t silver in hole SKP24-001.

Did any of the holes in the Cuprite Gold Project drilling program fail to find significant mineralization?

Yes, hole SKP24-002 did not return any significant intercepts.

Where is the Cuprite Gold Project located?

The Cuprite Gold Project is located in Nevada's Walker Lane gold trend.

What is the next step for StrikePoint Gold after the initial drilling results at the Cuprite Gold Project?

The next steps involve using RC chips to map clay alteration in the 3rd dimension to refine targets for the next phase of drilling.

How does the Cuprite Gold Project compare to other mining projects in the area?

The project shows potential similar to other low-sulphidation, epithermal systems in the area, like AngloGold's Silicon and Merlin deposits and Kinross's Round Mountain Mine.