Business
StrikePoint Dufferin Mine Deal Initiates Gold Exploration and Development in Nova Scotia
StrikePoint Dufferin Mine Deal Initiates Gold Exploration and Development in Nova Scotia
About this update from Strikepoint Gold Inc.
[{"type":"text","content":"\n\n\n\n Jun. 3, 2010 (Canada NewsWire Group) -- SKP - TSXV\nSTKXF - OTCQX\n\n StrikePoint Gold Inc. (SKP - TSXV and STKXF - OTCQX) ("StrikePoint" or "the Company") has entered into an agreement (the "Agreement") with Ressources Appalaches Inc. (APP - TSXV) ("Appalaches") that will allow StrikePoint to earn a 50% interest in four Nova Scotia gold properties, including the Dufferin gold mine (the "Dufferin Mine"). StrikePoint and Appalaches are arms-length parties to the Agreement. StrikePoint intends to transfer its interest in the Agreement to Braveheart Gold Inc., a wholly owned StrikePoint subsidiary that is registered in Nova Scotia.\nRichard Boulay, CEO and Chairman of StrikePoint stated that: "We are adding an entirely new dimension to our activities as we launch our new Braveheart Gold subsidiary into this exploration and development opportunity. The geological target type of stacked Saddle Reef deposits in folded sediments has a worldwide history of major gold production over long periods of time. This new project will add to our 2010 news flow that currently includes our next drill program, which is due to commence next week on the Strike Point property in Manitoba, a joint venture with San Gold Corporation (SGR - TSXV), adjacent to San Gold's Rice Lake mines. Our 2010 Rice Lake exploration program will also include continued exploration, a planned second 2010 drill program on the Poundmaker earn-in option with Wildcat Exploration Ltd. (WEL - TSXV) and initial ground magnetics and drilling on the 100% owned Angelina property. It should be an exciting year and we are sufficiently funded to carry out all of the scheduled work and related financial commitments."\nThe "Property" as defined in the Agreement consists of five project properties located about 115 km northeast of Halifax. All five properties, namely Dufferin, Dufferin North, Chocolate Lake, EcumSecum and Miller Lake are located in sparsely populated areas within a radius of 11 km and have good road access. The Dufferin project is an actual mining lease and includes full surface land ownership. It contains a historic gold mine, a decline from surface to a depth of 100 m and a 300 ton per day mill. The Dufferin project is owned by Dufferin Resources Inc., a private company that Appalaches has th...