StrikePoint Gold Inc.
TSX VENTURE : SKP

StrikePoint Gold Inc.

June 24, 2014 09:00 ET

StrikePoint Identifies Strong Gold Geophysical Anomalies at Lobstick

VANCOUVER, BRITISH COLUMBIA--(Marketwired - June 24, 2014) - StrikePoint Gold Inc. (the "Company" or "StrikePoint") (TSX VENTURE:SKP) is pleased to announce it has received results from the direct-current, geophysical survey at the Company's 100% owned Lobstick Gold Project in the Wabigoon Subprovince, Ontario, Canada. The survey was performed by Insight Geophysics located in Oakville, Ontario.

The survey was accomplished on 3 parallel lines spaced 200 meters apart, for a strike length of 400 meters. Each line was over 2,000 meters in length to provide the depth penetration needed to evaluate the near surface gold zones and how they developed with depth. The geophysics survey was performed to identify the geometry of the system to target future drilling.

The survey was able to identify both chargeability and resistivity anomalies to a depth of 350 to 400 meters. These anomalies corroborate the known locations of the gold bearing shear zones and suggested that the historic drilling of these zones was not in the best locations for mineralization; but indicate better mineralization below these historic intercepts. This implies that the highly anomalous gold mineralization, with a previous reported gold grade of 38.9 meters of 0.63 g/t Au, could improve with depth.

The survey identified several points of interest:

  • Disseminated auriferous pyrite showed strong correlation to chargeability anomalies.
  • Chargeability anomalies improve significantly with depth on all sections, and interconnect to form broad anomalies at these depths.
  • Mineralization at depth also showed strong resistivity anomalies, inferring more intense alteration in host rock or change of rock type associated with the mineralization.
  • Mineralization is continuous and open along strike and down dip.

These mineralized shear zones represent unique untested opportunities in the developing Wabigoon Subprovince since the Main Shear Zone has never been tested below a 25 meter vertical depth.

The rock types in the area are similar to the Cameron Lake and Goliath gold deposits in the region. Sedimentary rocks proximal to the shear zone suggest similar geometry to Treasury Metal's Goliath Gold Deposit and Barrick's Hemlo Gold Mines; acting as both cap rocks and focusing mineralizing fluids.

With these results, StrikePoint Gold Inc. will commence planning an initial stage of exploratory drilling, targeting these geophysical anomalies that were delineated. The company's website displays several figures related to the geophysical survey for observation.

John Florek, Technical Advisor of the Company and Qualified Person for purposes of National Instrument 43-101 has reviewed the technical information in this news release.

Additional information can be viewed at the Company's website www.strikepointgold.com.

On Behalf of the Board of Directors of Strike Point Gold Inc.

Shawn Khunkhun, President, CEO

Contact Information

  • StrikePoint Gold Inc.
    Shawn Khunkhun
    President, CEO
    604-602-1440 or Toll Free: 1-800-321-8564
    www.strikepointgold.com