Strikepoint Gold drills 2,980 g/t silver over 0.51metres at Porter-Idaho, British Columbia

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Strikepoint Gold Inc. [SKP-TSXV; STKXF-OTCQB] reported results of the diamond drilling, reconnaissance channel samples and grab samples from the 2022 exploration program at the 100%-owned Porter-Idaho project, located near Stewart in British Columbia’s prolific Golden Triangle.

The 2022 program was designed to drill test extensions to high-grade silver mineralization outlined in historic resource estimates and explore for gold-silver-rich intrusive-related mineralization.

Drilling was successful in confirming high-grade silver mineralization within the historic resource block and demonstrated potential for gold-silver-rich intrusion-related mineralization at the underexplored Red Reef prospect. The Red Reef prospect is located 850 metres below the elevation of the Porter-Idaho/Silverado mineralization and may be the root of the system.

Highlights from the 2022 field program includes drillhole PIP22-031 that returned 2,980 g/t silver and 0.74 g/t gold over 0.51 metres, confirming the historic resource at the past-producing Porter-Idaho mine

Channel P22-CH01 returned 116 g/t silver and 3.14 g/t gold over 1.0 metre at the Red Reef prospect outlining the potential for gold-silver-rich mineralization.

Channel P22-CH02 returned 108.55 g/t silver and 1.13 g/t gold over 2.09 metres at the Red Reef prospect outlining the potential for gold-silver-rich mineralization.

Michael G. Allen, President and CEO of Strikepoint stated, “As the highest-grade historic pure-silver mine in the Stewart area, these results confirm the tenor of silver grade that can be expected at the Porter project, however the discovery of strong, disseminated gold-silver, located less than a kilometre from the town is very encouraging. This intrusive-related style of mineralization may suggest a source or root to the high-grade veins at the Porter-Idaho and Silverado mines, located several hundred metres above the outcrops.”

The 2022 drilling program at the Porter-Idaho Silver project was designed to extend and confirm mineralization identified within the historical resource on the D-Vein and Prosperity Vein structures. In 2022, 520 metres of drilling in four holes was completed. The program successfully intersected high-grade silver mineralization within the historic resource at the D-vein with hole PIP22-031 returning 2,980 g/t silver and 0.74 g/t gold over 0.51 metres

Due difficult ground conditions the holes targeting the Prosperity vein didn’t adequately test their intended targets. Limited drilling has been completed by the Company to date at the historic Porter-Idaho mine and many targets remains untested, notably the down-dip extension of the mine which may extend to the Red Reef prospect 850 metres below the elevation of the mine.

PIP22-031 (D-Vein) returned 10.97 metres of 0.08 g/t gold and 245.6 g/t silver, including 2.90 metres of 0.17 g/t gold and 643.2 g/t silver, including 0.74 g/t gold and 2,980. 0 g/t silver.

Red Reef Channel Sampling & Regional Surface Exploration: A total of 86 surface grab samples and 22 metres of channel sampling were collected as part of the 2022 Porter-Idaho project exploration program. Values returned ranged from 0.25 to 116 g/t silver and 0.005 to 3.14 g/t gold from the channel samples and 0.25 to 77.5 g/t silver and 0.005 to 1.63 g/t gold from the grab samples, with 10 samples returning gold values of greater than 0.1 g/t gold.

The program targeted the roots of the silver veins and gold-silver-rich intrusive-related mineralization at the Red Reef prospect where the channel sampling was completed. Encouraging results returned P22-CH01 116 g/t silver and 3.14 g/t gold over 1.0 metre and P22-CH02 108.55 g/t silver and 1.13 g/t gold over 2.09 metres.

These results highlight the potential for gold-silver-rich mineralization 850 metres below the elevation of the defined mineralization at the past-producing Porter-Idaho mine. Mineralization consists of semi-massive to massive veins of pyrrhotite-pyrite with a strong silica-sericite-iron oxide halo and is thought to be similar to larger Jurassic-age mineralized systems in the Golden Triangle which would of predate the younger Eocene-aged Porter-Idaho mineralization.

The Porter-Idaho Project contains two shears-hosted silver-rich vein systems: the Silverado and Prosperity-Porter Idaho. The showings are 2.35 km apart, located on opposite sides of Mt. Rainey, overlooking the town of Stewart. The project is located strategically at the head of the Portland Canal, a deep-water port with year-round, ice-free access.

Strikepoint Gold is a gold exploration company focused on building high-grade precious metals resources in Canada. 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, adjacent to Red Mountain. The company also owns a portfolio of gold properties in the Yukon.

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