Vancouver, British Columbia--(Newsfile Corp. - September 3, 2024) - StrikePoint Gold Inc. (TSXV: SKP) (OTCQB: STKXF) ("StrikePoint" or the "Company") is pleased to announce that it has acquired the Hercules Gold Project by way of the acquisition agreement signed August 30, 2024 of all of the issued and outstanding common shares of Alcmene Mining Inc., a wholly-owned subsidiary of Elevation Gold Mining Corporation in consideration for $250,000, plus a re-imbursement of reasonable legal expenses. The transaction was arms length, and no finder's fees were paid.
"This acquisition represents our second district scale land package in the Walker Lane," said CEO Michael G. Allen. "Multiple operators have drilled showings across a property and encountered significant mineralization, giving the possibility of a generational mine being discovered on the property."
The Hercules Gold Project consists of 1,323 unpatented mining claims and four patented mining claims covering approximately 100 square kilometers of prospective Walker Lane geology located approximately one hour from Reno, Nevada. The property is just 20 kilometers East of the Comstock Gold Mine where historically 14 million gold ounces have been recovered(Wikipedia).
Figure 1: Hercules Project Location Map
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Hercules Gold Project Highlights:
The Hercules Gold Project is a low sulphidation epithermal gold target. Potentially economically significant gold grades/thicknesses have been drilled by multiple operators over a large area suggesting a strong gold mineralizing system. Drilling has largely been focussed on the northern portion of the property focussed on 5 target areas, Hercules, Cliffs, Loaves, Northeast and Rattlesnakes. The property has a Plan of Operations drill permit in place on the northern portion of the property, and two Notice of Intent drill permits on the southern portion of the property. Historically, ownership of the property was divided between multiple operators, hindering exploration. StrikePoint Gold will be able to explore the property without boundary constraints.
Figure 2: Hercules Gold Project Select Drillholes
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Table 1, Highlight Drill Intervals
| Eclipse Gold, Hercules Gold Project, Nevada, Drill Highlights | |||||||
| Hole ID | Target | From (m) | To (m) | Length | Au g/t | Ag g/t | Date of Release |
| H20010 | Hercules | 27.43 | 117.35 | 89.92 | 0.65 | 12.51 | 6/10/2020 |
| including | Hercules | 51.82 | 82.30 | 30.48 | 1.10 | 26.17 | 6/10/2020 |
| H20031 | Hercules | 0.00 | 30.48 | 30.48 | 1.63 | 18.27 | 3/22/2021 |
| including | Hercules | 6.10 | 9.14 | 3.05 | 5.55 | 47.9 | 3/22/2021 |
| H20040* | Cliffs | 184.40 | 224.03 | 39.62 | 1.12 | 5.38 | 3/22/2021 |
| including | Cliffs | 185.93 | 192.02 | 6.1 | 5.04 | 14.93 | 3/22/2021 |
| H20002 | Northeast | 1.52 | 47.24 | 45.72 | 0.33 | 1.87 | 6/10/2020 |
| H20003 | Loaves | 71.63 | 85.34 | 13.72 | 0.40 | 6.01 | 6/10/2020 |
| H20006 | Rattlesnakes | 15.24 | 38.10 | 22.86 | 0.32 | 1.93 | 6/10/2020 |
Length is sample length; true thickness was estimated in the above news releases between 60% and 90% of sample length.
Certain claims have reserved royalties to a maximum of 3%, with associated buy downs. A portion of the claims are under option with an annual payment of $50,000 per year to be made between 2025 and 2032.
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
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 United States.
The Cuprite Gold Project consists of approximately 574 unpatented claims covering approximately 44-square kilometers, located 15-kilometers south of Goldfield Nevada, and 85-kilometers northwest of Beatty. The project is easily accessible by Highway 95 on the western margin of the property. The project is located within the Walker Lane Gold Trend, which hosts AngloGold's exciting Silicon Gold and Merlin discoveries approximately 75-kilometers southeast of Cuprite. In addition, the Walker Lane hosts Tier 1 gold mines including Kinross's Round Mountain Mine located approximately 130-kilometers North of Cuprite Gold Project.
In addition to Cuprite Gold Project, the Company controls two advanced-stage exploration assets in British Columbia'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:
StrikePoint Gold Inc.
Knox Henderson, Investor Relations
T: (604) 551-2360
E: kh@strikepointgold.com
W: www.strikepointgold.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/221915
