StrikePoint Commences Drilling at Hercules Gold Project, With Current Exploration Target of 1 Moz of Oxide Gold in Nevada's Walker Lane

Rhea-AI Summary

StrikePoint Gold (TSXV: SKP) (OTCQB: STKXF) has initiated a drilling program at its Hercules Gold Project in Nevada's Walker Lane. The program consists of 7-8 holes totaling approximately 1,500 meters, targeting the northern portion of the property.

The company recently published an Exploration Target of 820,000 to 1,020,000 ounces of gold, with grades between 0.48 g/t and 0.63 g/t Au. StrikePoint acquired Hercules for $250,000 in late 2024 and aims to develop it into a multi-million ounce gold resource.

The drilling program is expected to be completed by late March or early April 2025, with results following shortly. The company will host a webinar on March 12, 2025, at 10:00am PT where CEO Michael G. Allen will discuss the drill program and future plans.

Positive

• Substantial Exploration Target of 820K-1.02M oz gold identified
• Low acquisition cost of $250,000 relative to potential resource size
• Located in tier-1 mining jurisdiction (Nevada's Walker Lane)
• Drilling program fully permitted under Plan of Operations

Negative

• Current resource is only at Exploration Target stage, not yet defined
• Relatively low gold grades (0.48-0.63 g/t Au)

7-8 Holes (~1,500m) to infill and expand oxide gold mineralization

Exploration Target between 820 and 1,020 Koz Au grading between 0.48 g/t and 0.63 g/t Au

Acquisition cost $250,000, now targeting multi-million Au Oz Potential in Tier 1 Jurisdiction

Drill Results Expected in Q2 2025

Vancouver, British Columbia--(Newsfile Corp. - March 10, 2025) - StrikePoint Gold Inc. (TSXV: SKP) (OTCQB: STKXF) ("StrikePoint" or the "Company") is pleased to announce the commencement of an infill and expansion drilling program at the Hercules Gold Project ("Hercules") in Nevada's Walker Lane. This program aims to build on the recently published Exploration Target of 820,000 to 1,020,000 ounces ("oz") of gold ("Au"), further advancing what the Company believes is a high-potential oxide gold system. Acquired for just $250,000 in late 2024, Hercules has rapidly evolved into a cornerstone asset in StrikePoint's portfolio, underscoring the Company's strategy of creating significant shareholder value through strategic acquisitions and focused exploration.

The program is planned to be 7 to 8 holes on multiple targets on the northern portion of Hercules Gold Project, encompassing approximately 1,500 meters (5,000 feet) of drilling. The program is expected be completed in late March or early April 2025, with results to follow shortly. The drilling is being carried out under a Plan of Operations permit.

The program will infill and potentially expand the mineralization on the property, moving the Company towards its goal of defining a multi-million ounce gold resource at Hercules. On March 3, 2025 the Company announced the conclusion of the technical report being written on the property which included an initial gold Exploration Target of between 820,000 and 1,020,000 oz gold grading between 0.48 g/t and 0.63 g/t Au. (For further information on the Exploration Target, please see the Company's March 3, 2025 news release).

Webinar: On Wednesday, March 12, 2025, at 10:00am PT / 1pm ET, StrikePoint CEO, Michael G. Allen, will host an interactive webinar discussing the Company's drill program at Hercules and future plans:
Register in advance for this meeting from this link:
https://us02web.zoom.us/meeting/register/XpZNNcO4Ro69Sc4lMrxs9w

Michael G. Allen, President and CEO of StrikePoint said, "As the gold price strengthens its an exciting time in Nevada's gold mining industry. Recent mergers and acquisition activities have highlighted the attractiveness of projects in the State of Nevada. Acquiring the Hercules Gold Project for just $250,000 and quickly demonstrating an immediate potential for one million ounces of gold underlines our strategy of identifying and advancing undervalued assets in proven jurisdictions. We believe Nevada's Walker Lane offers a unique environment for swift resource development, and our upcoming drilling will help us unlock the full scope of this oxide gold system. I look forward to talking with shareholders at the upcoming webinar."

Figure 1: Hercules Gold Project Planned Drillhole Locations

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5044/243917_aba466cdf4c7c96b_002full.jpg

About the Hercules Gold Project:

StrikePoint Gold acquired the Hercules Gold Project for $250,000 in September of 2024. The Hercules Gold Project is located in the Northern portion of the Walker Lane and covers approximately 100 square kilometers of perspective terrain. The Walker Lane hosts Tier 1 Gold Mines including Kinross's Round Mountain, and Equinox Gold's Mesquite and Castle Mountain Mines. Recent Exploration success in the Walker Lane include AngloGold Ashanti's Silicon and Merlin Discoveries which include 3.4 Moz Au Measured and Indicated Mineral Resources and an additional 9.9 Moz Au Inferred Mineral Resources.

A total of approximately 306 holes have been drilled into the project to date. This drilling defined a NI 43-101 Exploration Target in the northern portion of the property.

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 mineralization is near surface giving the potential of an open pit, heap leach (oxide) operation.

In addition to the drill-tested targets in the northern part of the property there are over 40 undrilled targets on the property, some of which also include visible gold at surface.

About Nevada

Nevada is one of the most globally recognized mining jurisdictions in the world, with over 218 Moz Au produced to date. Multiple operators in the state, including Nevada Gold Mines (Barrick/Newmont), Kinross, SSR Mining, McEwan Mining, Integra Resources and Calibre Mining. Many of the operations are open pit, heap leach operations, operating at similar grades to the Exploration Target defined on the Hercules Gold Project.

About StrikePoint

Headed by CEO Michael G. Allen, StrikePoint is a multi-asset gold exploration company focused on building precious metals resources in the Western United States and in Canada.

Mr. Allen has been working in the Walker Lane for the last 15 years, with multiple transactions be completed in that time including the acquisition of the Sterling Gold Project, located near Beatty, Nevada, and the sale of Northern Empire to Coeur Mining for ~$120 million. The Sterling Project is now part of AnglogGold Ashanti's "Expanded Silicon" project. In addition, he was the past President of Elevation Gold Mining, which operated Arizona's largest Gold Mine.

The Management and Board of StrikePoint Gold has strong expertise in exploration, finance and engineering.

StrikePoint is rapidly becoming one of its largest holders of mineral claims with approximately 145 square kilometers of prospective geology under claim, encompassing two district scale projects, the Hercules Gold Project and the Cuprite Gold Project.

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.

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.

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: kh@strikepointgold.com
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.sedarplus.ca. 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/243917

FAQ

What is the current Exploration Target for StrikePoint's (STKXF) Hercules Gold Project?

The Exploration Target is between 820,000 to 1,020,000 ounces of gold, with grades ranging from 0.48 g/t to 0.63 g/t Au.

How many drill holes is STKXF planning at the Hercules Gold Project in 2025?

StrikePoint is planning 7-8 holes totaling approximately 1,500 meters on multiple targets in the northern portion of the project.

When will STKXF release the Hercules Gold Project drill results?

The drill results are expected to be released in Q2 2025, following program completion in late March or early April 2025.

How much did StrikePoint (STKXF) pay to acquire the Hercules Gold Project?

StrikePoint acquired the Hercules Gold Project for $250,000 in late 2024.