Lush treasury furnishes StrikePoint program

With a little bit of downsizing from the sale of its Yukon gold properties, StrikePoint Gold Inc. is well positioned financially to continue exploration work at its Willoughby and Porter properties near Stewart, British Columbia, in the territory's prolific Golden Triangle.

Strikepoint's 2022 exploration program included roughly 3,000 meters of drilling split about evenly between its two Northern BC properties.

"At Porter, our work will continue to test the limits and source of the historic silver mines; at Willoughby, we will also seek new high-grade gold-silver discoveries in previously unexplored areas," said StrikePoint Gold Executive Chairman Shawn Khunkhun.

Porter is a historically mined silver property on Mount Rainey, which overlooks the Northern BC mining town of Stewart.

Early in the 20th century, the Prosperity and Mount Rainey Mine on Mount Rainey produced roughly 2.2 million ounces of silver from 27,123 metric tons of ore averaging 2,542 grams per metric ton silver.

StrikePoint has turned up evidence that the historically mined veins could represent opposite ends of a larger mineralized system that extends for 2,350 meters through the mountain, and recent glacial retreat has exposed more of the ground between these past-producing mine sites, making it easier to explore for a connection.

The company's 2022 exploration at Porter had three primary objectives – test extensions to high-grade silver mineralization; explore for the roots of the silver veins and gold-silver-rich intrusive-related mineralization; and assess the underground access and work for future rehabilitation.

Occurring along the eastern margin of the Cambria Icefield, Willoughby is geologically similar to Ascot Resources Ltd.'s advanced-stage Red Mountain silver-gold deposit, which lies approximately seven kilometers (four miles) to the west.

Highlights from 2021 drilling at Willoughby include: 9.88 meters averaging 4.95 grams per metric ton gold-equivalent, which accounts for the value of both gold and silver, and 26.5 meters averaging 2.76 g/t gold-equivalent in hole W21-115; three meters averaging 11.26 g/t gold-equivalent, and four meters averaging 2.61 g/t gold-equivalent in hole W21-116; three meters averaging 3.07 g/t gold-equivalent in hole W21-123; and 0.5 meters averaging 37.19 g/t gold-equivalent in hole W21-124.

"The Willoughby projects continue to deliver results through discoveries to the northern end of the property extending the 1,300-meter mineralized trend, which remains open for expansion to the northeast and southwest," StrikePoint Gold Vice President of Exploration Marilyne Lacasse penned in an email to North of 60 Mining News.

Strikepoint's 2022 program had two primary objectives – drill northern and southern extensions to the 600-meter-long trend of mineralized zones along the Willoughby nunatak, where mountain rocks protrude through the ice cap, and discover new mineralization to the west of the Willoughby nunatak trend.

Hole W22-125, drilled at the south end of the Willoughby nunataq, cut 5.32 meters averaging 1.02 g/t gold and 27.15 g/t silver in a new zone of mineralization and alteration lying to the west of known mineralized zones.

Surface sampling discovered to new zones on the nunataq, BOD and FS. One grab sample collected from BOD containted 156 g/t gold and 91.7 g/t silver and one sample fro FS contined 6.48 g/t gold and 52.5 g/t silver.

As drills turned on its Northern BC properties, StrikePoint optioned its substantial land package in the Yukon to Snowline Gold Corp.

StrikePoint's Golden Oly and other gold exploration properties in the Yukon are south of Snowline's discovery of more than 300-meter-thick zones of strong gold mineralization on its Rogue property.

Under the agreement, Snowline acquired 4,713 mineral claims from StrikePoint in exchange for C$500,000, as well as the issuance of 500,000 common shares (valued at C$1.38 million).

"We have now positioned ourselves as shareholders in Snowline Gold, an exciting, Yukon-focused exploration company with a new discovery, while remaining focused on advancing our Golden Triangle properties," said Khunkhun.