StrikePoint More than Doubles Land Package at the 100%-Owned Cuprite Gold Project, Located Within Nevada's Walker Lane Trend
Vancouver, March 1, 2023 - StrikePoint Gold Inc. (TSXV: SKP) (OTCQB: STKXF) ("StrikePoint" or the "Company") is pleased to announce an expansion, via staking, of the land holdings at the wholly owned Cuprite Gold Project in the Walker Lane Trend of Nevada. (Figure 1 Nevada Map - Cuprite)
"Early investigations by StrikePoint's geological team lead to the speculation that the alteration system at Cuprite continued under cover to the north and south of the existing land package," said Michael G. Allen, President and CEO of StrikePoint. "We were able to acquire approximately 310 new claims via staking to cover off these potential extensions and establish a dominant land position in the district." (Figure 2, New Claims)
In addition, the Company wishes to announce it has closed the acquisition of 264 claims that make up the Cuprite Gold Project from Orogen Royalties. For further information on the acquisition terms, please see the Company's January 23, 2023 news release.
About the Cuprite Gold Project
Cuprite Gold Project consists of approximately 574 unpatented claims covering 44 square kilometers, located fifteen kilometers south of Goldfield Nevada, and 75 kilometers northwest of Beatty, within the prolific Walker Lane Trend. The project is easily accessible by Highway 95 on the western margin of the property. (Figure 3 Cuprite Detailed Location)
Cuprite is thought to be an analog to AngloGold Ashanti's Silicon deposit where a maiden Mineral Resource of 3.4 million ounces of gold has been defined. Like Cuprite, Silicon displays an extensive, strongly developed, steam heated alteration zone at surface with anomalous mercury and cinnabar, as well as sharing a similar geological and structural setting.
Within the steam - heated cell, alteration vectors eastward towards shallow gravel cover with cinnabar (and mercury-in-soil anomalism), residual silica and powdery silica all observed proximal to the eastern limit of outcrop. Favorably oriented faults, potentially related to the Miocene Stonewall caldera, project into the shallow gravel cover and constitute potential highly prospective feeder structures untested by drilling.
The Cuprite Gold Project is a district-scale opportunity with over twenty square-kilometres of advanced argillic alteration visible at surface constituting one of the largest steam-heated cells in the Walker Lane. The project is underlain by Miocene and Oligocene tuff and is located on the western flank of the Stonewall Mountain Caldera. Several nearby gold deposits and mines are located in similar locations within calderas of the Walker Lane, notably, the Gemfield Deposit owned by Centerra Gold.
Management Update
The Company is pleased to announce the appointment of Mr. Paulo Santos as Chief Financial Officer. Mr. Santos has significant experience in various senior executive financial roles within the mining industry, including most recently as the CFO for Elevation Gold Mining Corp., the Interim CFO and VP, Finance of Calibre Mining Corp, the CFO for Northern Empire Resources Corp., and the Treasurer and Corporate Secretary for Newmarket Gold Inc. In addition, Ms. Kia Russell has been appointed as Corporate Secretary for the Company.
Mark Gelmon, Marion McGrath and Marilyne Laccase resigned from their respective roles as Chief Financial Officer Corporate Secretary and Vice President of Exploration of the Company effective immediately the Company would like to thank them for their services and wishes them the best of luck in their future endeavors.
The Company announces that it has granted 2,000,000 incentive stock options to its directors, officers, consultants and/or employees pursuant to the Company's stock option plan. The options are exercisable for a period of five years at a price of $0.055 per share.
Qualified Person Statement
All technical data, as disclosed in this press 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 National Instrument 43-101.
About StrikePoint
StrikePoint Gold is a gold exploration company focused on building precious metals resources in Canada and the Western US. In addition to Cuprite, the company controls two advanced-stage exploration assets in BC's Golden Triangle. The past-producing high-grade silver Porter-Idaho Project and the high-grade gold Willoughby Project.
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:
Michael G. Allen, President CEO & Director
T: (604) 609-6107
E: ma@strikepointgold.com
W: www.strikepointgold.com
Cautionary Statement on Forward Looking Information
Certain statements made, and information contained herein may constitute "forward looking information" and "forward looking statements" within the meaning of applicable Canadian and United States securities legislation. These statements and information are based on facts currently available to the Company and there is no assurance that actual results will meet management's expectations. Forward-looking statements and information may be identified by such terms as "anticipates", "believes", "targets", "estimates", "plans", "expects", "may", "will", "speculates", "could" or "would".
All of the forward-looking statements made in this document are qualified by these cautionary statements. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated, forecast or intended and readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions which may have been used. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking information. Accordingly, there can be no assurance that forward-looking information will prove to be accurate and forward-looking information is not a guarantee of future performance. Readers are advised not to place undue reliance on forward-looking information. The forward-looking information contained herein speaks only as of the date of this document. The Company disclaims any intention or obligation to update or revise forward-looking information or to explain any material difference between such and subsequent actual events, except as required by applicable law.
Neither 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 source version of this press release, please visit https://www.newsfilecorp.com/release/156606