StrikePoint Gold Inc. Releases Results from PDM Property and Discovery of 'Seven Wonders Trend', a New Regional-Scale Structural Corridor
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 14, 2017) - StrikePoint Gold Inc. (TSX VENTURE:SKP)(OTCQB:STKXF) is pleased to provide surface results from its PDM Property in the Yukon Territory, and its implications in a new regional-scale structural trend that links the PDM, Golden-Oly and Nordic properties.
Highlights
- Surface grab samples at PDM returned grades of up to 9.8g/t gold, 2.8% copper and 245g/t silver.
- Samples collected from area of sheeted veins within intrusive material with visible copper mineralization, including native copper.
- Sheeted veins observed occurring throughout an area of 350m by 350m, with a maximum density of 30 veins over a 10m natural exposure
- Geological observations at PDM tie in to an overall structural trend that stretches for 78km and incorporates the Golden-Oly and Nordic properties, termed the "Seven Wonders Trend".
- New model will help focus future targeting within a large project area.
Strikepoint Gold was active on the project between August 11th and August 19th 2017. Extensive mapping and surface sampling focused in the center of the property around the Spearhead showing, identified by the Yukon Geological Survey. A total of 159 grab samples were collected from the area, mainly from obviously mineralized zones, but also from further out to gather additional geochemical data.
The mineralogy observed in the field was primarily copper-based, including chalcopyrite, malachite, bornite, chrysocolla and native copper, along with other sulphides such as pyrite, arsenopyrite and pyrhottite. These mineralized samples returned from trace to 2.8% copper (with 15% of all surface samples collected returning greater than 0.2% copper), and from trace to 9.8g/t gold (with 10% of all surface samples returning greater than 0.5g/t gold). Silver was also found in samples, ranging from trace to 245g/t, with 13% of all samples returning grades more than 20g/t silver).
Geologists on site focused on an area of sheeted veins within a granodioritic stock that had densities up to 30 veins over a 10m exposure oriented between 50 to 60 degrees. The veins ranged from the millimeter to centimeter thickness and contained a variety of sulphides with quartz. The intrusive host rock also contains additional sulphide mineralization although at a lower rate of occurrence than within the veins.
The PDM property has had a history of exploration going back to 1967, although most of this has been basic soils and mapping with little consistency. Strategic Metals held the property between 2007 and 2008 and undertook a diamond drilling program, but it appears that each of the three holes missed the target area (see maps). The current land package is also more extensive than held in the past, so the additional data collected across a larger area has assisted in a broader understanding of the potential.
Mapping on the property shows that the veins are regularly orientated, at around 58 degrees (roughly northeast to southwest).
The "Seven Wonders" Trend
Post-season compilation of data has highlighted the existence of a structural trend that passes through PDM, Golden-Oly and the Nordic properties, for a total of 78km by 16km, and helps to explain certain mineralized features observed during the 2017 program.
These features fall within a model known as a 'Strain Ellipse' which shows how an area will deform when compressed through a regional event such as the accretional formation of the western coast of North America. This model is well understood, demonstrable and therefore predictable.
During compression of an area, the rocks are put under pressure forming a variety of faults, folds and other structures, some of which can become traps and fluid conduits. This model is showing the intrusions observed across the three properties have filled anticlinal folds within the sedimentary rocks, and then sympathetic off-shooting structures, known as Riedel Shears, have allowed mineralizing fluids to pass through them. These manifest as the sheeted veins observed at the Babylon and Colossus targets, the latter of which returned assays to 10.65g/t gold and 364g/t silver (refer to press release dated 10th October 2017).
The identification of the Seven Wonders Trend will help with future targeting, including any drilling, on the property, as only certain structures that develop will also promote fluid flow and therefore mineralization. This is a key finding for the 2017 season as it will help focus work across a collection of large land packages and ensure exploration funds are spent the most wisely.
Shawn Khunkhun, CEO Strikepoint, says "This is another major step forwards by the Strikepoint team on this newly acquired portfolio. The discovery of mineralization at PDM is significant, but being able to tie this in to a larger geological model that covers additional company properties confirms our view that this area warrants further systematic exploration."
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.
To view the maps associated with this release, please visit the following links:
http://media3.marketwire.com/docs/1104748_map1.JPG
http://media3.marketwire.com/docs/1104748_map2.JPG
http://media3.marketwire.com/docs/1104748_map3.JPG
Shawn Khunkhun
604-602-1440
sk@strikepointgold.com