Business
Strikepoint Gold Inc. to Acquire the High-Grade Silver, Porter Idaho Property in the Golden Triangle, British Columbia
Vancouver, British Columbia--(Newsfile Corp. - May 2, 2018) - StrikePoint Gold Inc. (TSXV: SKP...
About this update from Skeena Resources Limited
[{"type":"text","content":"Strikepoint Gold Inc. to Acquire the High-Grade Silver, Porter Idaho Property in the Golden Triangle, British ColumbiaVancouver, British Columbia--(Newsfile Corp. - May 2, 2018) - StrikePoint Gold Inc. (TSXV: SKP) (OTCQB: STKXF) is pleased to announce that it has entered into a non-binding letter of intent with Skeena Resources Limited (TSXV: SKE) to purchase the Porter Idaho Property near Stewart, British Columbia (the \"Transaction\").The Porter Idaho Project contains two shear hosted silver-rich vein systems: the Silverado and Prosperity-Porter Idaho. The showings are 2km apart, located on opposite sides of Mt. Rainey, overlooking the town of Stewart. The Project is strategically located at the head of the Portland Canal, a deep-water port with year-round, ice-free access. \"StrikePoint is very excited to make a high-grade silver acquisition in the prolific Golden Triangle. With our strong technical team, healthy treasury and renowned precious metal shareholders, we look forward to diamond drilling the underexplored area between the two silver rich mineralized systems. The acquisition comes with a high-grade resource and there's significant potential to add more ounces,\" CEO, Shawn Khunkhun remarks.Since the initial discovery of silver mineralization on Mt. Rainey in the early 1900's, most of the work was focused on the Prosperity-Porter Idaho veins, where mineralization is hosted in six dipping parallel shear zones tracked on surface for 200 meters and one kilometer down dip with widths between 2 and 13 meters. The vein system was mined between 1929 and 1931 and produced 27,123 tonnes with recovered grades of 2,542 g/t silver (73.8 oz/ton) and 1 g/t gold (yielding approximately 2.2 million ounces of silver). The ore was shipped to the port at Stewart via aerial tramway.Skeena's CEO, Walter Coles Jr. commented, \"Skeena is pleased to entrust Porter Idaho to StrikePoint, a company which has the technical capabilities to successfully advance the project. We have always seen the potential for mineralization to connect on each side of the mountain and will be excited for drill results this summer.\" The Porter Idaho Project contains an historical Indicated Resource of 394,700 tonnes grading 868 g/t silver, 3.37% lead and 1.41% zinc (435,000 tons @ 25.2 oz/ton silver or a contained 11 million ounces) and an Inferred Resource of 8...