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StrikePoint Gold Inc. Acquires the Handsome Jack Property Adjacent to the Porter Idaho Project in Stewart, British Columbia; Update on Mount Rainey Acquisition
Vancouver, British Columbia--(Newsfile Corp. - August 14, 2018) - StrikePoint Gold Inc. (TSXV:...
About this update from Strikepoint Gold Inc.
[{"type":"text","content":"StrikePoint Gold Inc. Acquires the Handsome Jack Property Adjacent to the Porter Idaho Project in Stewart, British Columbia; Update on Mount Rainey AcquisitionVancouver, British Columbia--(Newsfile Corp. - August 14, 2018) - StrikePoint Gold Inc. (TSXV: SKP) (OTCQB: STKXF) is pleased to announce that it has entered into an agreement dated for reference August 8, 2018 to acquire the Handsome Jack property from Trifecta Gold Ltd., adjacent to the Porter Idaho Property near Stewart, British Columbia (the \"Transaction\").The Handsome Jack PropertyThe Handsome Jack Property forms a contiguous land package adjacent to the eastern border of the recently acquired Porter Idaho property. The main known feature within the property is the Melvin Adit which was last worked in the 1920's and is assumed to intersect the northerly strike extension of the Angelo Vein within the Porter Idaho Property. Ore from this adit returned up to 4,286 g/t silver during its production, but outside of this exploration work has been cursory. Both the Melvin and Angelo veins are visible at surface, but the area between then was historically obscured by ice and so the apparent alignment has never been prospected in the field. Additionally, a two-day program in 1991 identified a 300 meter by 200-meter gossanous zone with anomalous silver, lead and zinc referred to as the GEE2 showing. Commercially available aerial imagery shows additional gossanous areas of interest within the Handsome Jack property that have never been explored, largely due to the extensive ice coverage that existed up until the last decade. This is a strategic acquisition as it allows for expansive exploration of the area, including prospective parallel systems to Prosperity-Porter as well as the supposed connections with the Silverado Mine. StrikePoint's exploration plan for Handsome Jack represents the first comprehensive exploration campaign in the area for over thirty years. Systematic prospecting, geological mapping and sampling will be performed with an emphasis on areas recently uncovered by ice. It was not until 1982 that the northern extension of the Angelo vein was discovered in outcrop when it was exposed from under a receding glacier. The TransactionThe terms of the Transaction are as follows:$25,000 cash payment by StrikePoint to TrifectaIssuance of 250,000 common shares of Strike...