StrikePoint Gold Inc. Intersects 15.24m of 1.05 Gram Per Ton Gold and 32.0m of 0.14% Copper at the Pluto Project, Yukon Territory
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct 23, 2017) - StrikePoint Gold Inc. (TSX VENTURE:SKP)(OTCQB:STKXF) is pleased to provide drill results and an exploration update from activities on its Pluto property, Yukon Territory.
Highlights
- 15.24m at 1.05g/t gold from a Charon Zone drill hole 17-CRN-02 at Charon Zone.
- 32.0m at 0.14% copper in hole 17-CRN-07.
- In hole 17-CRN-01, intersected 6.10m at 0.74g/t gold with 1.67% copper.
- Drilling in 6km southwest of Charon in the Hydra Zone returned 10.67m at 0.4g/t gold with similar geological setting to Charon.
- Mineralization is hosted in limestone layers which are altered by skarn and marble.
- Host limestone beds exist as multiple layers in the sediment package and extend for at least 6km by 3km area.
StrikePoint Gold was active on the project between July 8th and September 5th, 2017. Extensive mapping of the northeastern portion of the property was completed, and a total of 117 grab samples were collected from the area. Twelve RAB drill holes were completed by GroundTruth Exploration during that time, with eight on the Charon target and four on the Hydra target, to a total of 1,294m.
Surface results from 2017 were released by StrikePoint in August, and highlighted assays of 48.4g/t and 36.3g/t gold from within the Charon Zone, along with copper up to 1.23% (news release dated August 22, 2017).
Shawn Khunkhun (CEO, StrikePoint) comments "The discovery through drilling of copper and gold mineralization occurring at Pluto is an exciting development. Despite a lack of outcrop the technical team lead by our VP Ex, Andy Randell were able to take a significant step on Pluto, taking the property from a high grade soil anomaly, proving the mineralizing is present below the surface."
Pluto Property
The Pluto Property is in the Kluane region of the Yukon Territory, and covers an area of 21km x 22km, and is 100km southwest of the town of Carmacks. The ground is mainly rolling hills with deep river valleys, but outcrop exposure is limited. The aim of the 2017 program was to follow up on the soil anomalies identified in 2012 by Ryan Gold Corp., and to provide a subsurface context to the geology through RAB drilling.
Five main target areas have been identified on the property to date: Charon, Styx, Nyx, Hydra and Cerberus. The first four appear to have mineralization associated with the interplay between a series of limestone beds and volcanic dykes, while Cerberus appears to be more vein hosted gold and silver in nature.
Charon Target
The Charon Target is an area approximately 2.5km by 2km in the northeastern corner of Pluto. In 2012, soil samples from this site returned grades up to 15.05g/t gold along a 1km 'band'. Field work associated these grades with a fairly flat-lying limestone unit within the schist, that have become mineralized to skarns / marbles where it was intruded by small scale volcanic (rhyolite / dacite) dykes.
The aim of the 2017 program in this area was primarily to gather subsurface data through drilling to better understand the geology and to confirm mineralization at depth. Targeting of the drill holes was based largely on results from a ground geophysical survey (IP) that showed bands of low and high resistivity that related to limestone and schist respectively when traced to surface. Collars were spaced along a spur from the main ridge on spots where the drill could sit without interference from talus.
Drill results were as follows:
- 17-CRN-01
- 6.10m @ 0.74g/t Au and 1.67% Cu (4.57m to 10.67m)
- 17-CRN-02
- 15.24m @ 1.05g/t Au (21.34m to 36.58m), including 3.05m @ 3.81g/t Au (22.68m to 25.91m)
- 17-CRN-03
- 3.05m @ 0.12% Cu (76.2m to 79.25m)
- 1.53m @ 0.27% Cu (92.96m to 94.49m)
- 17-CRN-04
- No significant results
- 17-CRN-05
- No significant results
- 17-CRN-06
- 3.05m @ 3.28g/t Au (3.05m to 6.10m)
- 17-CRN-07
- 32.0m @ 0.14% Cu (from 56.39m to 88.39m)
- 17-CRN-08
- 7.62m @ 0.24% Cu (from 83.82m to 91.44m)
These results have conclusively proven that the mineralization is present at depth and is not just from gossanous surficial material. The copper and gold are associated with sulphide-minerals in the limestone units, sometimes with significant silver from trace to 35g/t in samples from the Charon drill holes. Drill holes 17-CRN-01 through to 17-CRN-06 are from one spur line, while 17-CRN-07 and 17-CRN-08 represent a step out 600m to the east. Further studies are currently underway to understand the relationships in the ore mineralogy.
Hydra Target
Hydra lies 6km to the southwest of Charon, and represents another soil anomaly that was related to limestone bands. The decision was made to drill four holes at Hydra to compare with the geology and mineralization at Charon.
Hole 17-HYD-02 returned 10.67m at 0.4g/t gold from a limestone unit, which had a similar mineralogy and setting to the Charon holes. Although a lower grade, this does seem to infer that the two systems are related. The limestone units were mapped in several locations between Charon and Hydra, covering an area of 6km by 2km. Note that the other three holes at Hydra returned no significant results.
These drill results are compelling as they were not specifically targeted due to poor surface outcrop, but rather they prove that mineralization is occurring at depth and is widespread. Data from this program can now be reviewed and the targeting refined for future exploration work.
Other Targets
The Styx and Nyx target zones are equivalent in size to Charon, and bridge the area between that and Hydra. Styx runs along a river valley, and in several places the limestone beds can be seen outcropping. It is also apparent that an extensive arm of intrusive rhyolite pervades into this area. Soil samples taken during the 2012 sampling program shows a concentration of Cu-Au anomalies along the contact with the intrusive rock.
Nyx lies to the south of the same rhyolitic arm, but also seems to be coincident with a dioritic intrusive.
Cerberus lies 2.5km east of Charon, and mineralization relates to quartz veins along the edge of granodioritic intrusive material rather than the skarns we see elsewhere on the property. Sampling in this area produced samples ranging from trace to 2.06g/t gold and from trace to 333g/t silver (please refer to August 22, 2017 press release for full details).
Results from other properties in the Yukon portfolio are pending and will be released in due course.
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 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 review the Corporate Presentation on the StrikePoint Gold Inc. website for a more detailed, comprehensive review of the 2017 exploration program: http://www.strikepointgold.com/images/Yukon-Properties-Presentation.pdf.
ON BEHALF OF THE BOARD of StrikePoint Gold Inc.
Shawn Khunkhun, CEO and Director
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.
Contact
StrikePoint Gold Inc.
Shawn Khunkhun
604-602-1440
604-685-5777
sk@strikepointgold.com
www.strikepointgold.com