Strikepoint Gold completes technical report for Hercules gold project, Nevada
Strikepoint Gold Inc. [TSXV: SKP; OTC: STKXF] has concluded its first technical report on the Hercules gold project, located in Nevada’s prolific Walker Lane, including the establishment of a drill-defined, bulk-tonnage exploration target.
Michael G. Allen, president and CEO, commented: “This initial technical report is a significant step in providing valuable information on the Hercules gold project, and as to the opportunity and potential size and scope of this recently acquired asset. The exploration target reviewed the current and historical drilling on the project, but most notably, we believe this previous drilling has only scratched the surface of this project’s potential, as we have multiple untested geophysical and geochemical targets, some of which include visible gold at surface. We believe that the Hercules gold project has the potential to be Nevada’s next multimillion-ounce gold resource.”
In accordance with the NI 43-101 guidelines, the report establishes a baseline exploration target for the Hercules gold project ranging between 819,000 and 1,018,000 ounces of gold within 40.3 million to 65.6 million tonnes of mineralized material, with an estimated grade range between 0.48 and 0.63 g/t gold. The quantity and grade are conceptual in nature, and there has not been sufficient exploration to define a mineral resource, and it is uncertain if further exploration will result in the target being delineated as a mineral resource. The exploration
The exploration target was completed utilizing a grade shell model in conjunction with the geological understanding of the mineralization to date. The grade shells were then utilized to provide grade tonnage curves with an artificial intelligence (AI) estimated model that utilized the drill hole gold assays and kriging. The exploration target and AI generated model will be utilized to guide future drilling in these areas of known mineralization.
The exploration target used data from the Sirens, Hercules, Cliffs, Loaves, Lucky Rusty, Rattlesnakes and NorthEast showings on the Hercules gold project. In this area, there are a total of 306 historical drill holes, yielding a total of 31,776 metres in the drill hole database, along with data for 121 surface trenches. The drill hole database contains a total of 18,409 sample interval entries, with the trenches providing another 475 sample entries. A total of 5,620 sample intervals are contained within the mineralization domains utilized for the exploration target.
Numerous targets remain untested and the previously drill showings remain open for further expansion and potentially conversion to mineral resources.
Of note, there is insufficient data in the historical database to provide silver grade estimates. The drill hole and trench database contains a total of 5,520 samples with greater than or equal to 0.1 g/t gold. The average silver to gold ratio of those samples is 9.73:1. Silver was not modelled as part of the exploration target.
Both the Hercules gold project and the Cuprite gold project are located in Nevada’s Walker Lane gold trend, where Strikepoint is rapidly becoming one of its largest holders of mineral claims with approximately 145 km2 of prospective geology under claim.
The Walker Lane hosts AngloGold Ashanti’s multimillion-once Silicon Gold and Merlin discoveries and Kinross’s Tier 1 Round Mountain mine.