News Release
Strikepoint starts exploration drilling on Golden-Oly
2018-07-30 11:08 ET - News Release
Mr. Shawn Khunkhun reports
STRIKEPOINT GOLD INC. COMMENCES DRILLING THE COLOSSUS TARGET ON THE GOLDEN-OLY PROPERTY, YUKON TERRITORY
Strikepoint Gold Inc. has commenced exploration drilling on the Golden-Oly property in the Yukon.
The drill program
The 1,000-metre diamond drill campaign is designed to test anomalous gold mineralization discovered in 2017 around Colossus target at the eastern end of the property. Gold is being hosted in quartz-arsenopyrite filled sheeted veins and have been found in several locations around the periphery of the granodioritic pluton, where grades of up to 10.65 grams per tonne gold were found by Strikepoint Gold geologists in 2017.
This is a proof-of-concept program as the Colossus target is one of seven that exist within the Golden-Oly/PDM property package. The results from drilling will help bolster the understanding and potential of other buried intrusions within the trend.
Exploration update
Geologists have been on site since late-June, 2018, preparing for drilling. This has included extensive mapping and sampling of new vein showings from the Colossus and Zeus targets (Golden-Oly) and the Babylon target (PDM). Assay results are pending from these campaigns and are due shortly.
The Seven Wonders
This collection of three properties, now collectively termed the Seven Wonders, exhibited high levels of exploration potential during the 2017 season. The core of the 78-kilometre-long trend contains seven buried or partially exhumed intrusions that appear to be copper-rich in the west and becoming more gold-dominated in the east.
Highlights from the 2017 program include:
- Surface grab samples at PDM returned grades of up to 9.8 grams per tonne gold, 2.8 per cent copper and 245 g/t silver in 2017;
- Samples collected from an area of sheeted veins within intrusive material with visible copper mineralization, including native copper;
- Historical samples up to 19 g/t gold occur about two kilometres northeast of the Babylon intrusive along an untested gossanous ridgeline;
- The Colossus target on the Golden-Oly property returned assays up to 10.65 g/t gold, 364 g/t silver and 0.52 per cent copper;
- Airborne geophysics shows seven of these buried intrusions along a west-southwest to east-northeast bearing.
Quality assurance/quality control
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.
The technical information contained in this news release has been approved by Andy Randell, PGeo, vice-president, exploration, of Strikepoint Gold. Mr. Randell is a qualified person as defined in National Instrument 43-101.