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StrikePoint Gold Updates Exploration Program at Willoughby Project, Targeting High-Grade Gold and Silver; Grants Stock Options
Vancouver, British Columbia--(Newsfile Corp. - August 4, 2020) - StrikePoint Gold Inc. (T...
About this update from Strikepoint Gold Inc.
[{"type":"text","content":"StrikePoint Gold Updates Exploration Program at Willoughby Project, Targeting High-Grade Gold and Silver; Grants Stock OptionsVancouver, British Columbia--(Newsfile Corp. - August 4, 2020) - StrikePoint Gold Inc. (TSXV: SKP) (OTCQB: STKXF) (\"StrikePoint\" or the \"Company\") announces that ongoing surface exploration work, including construction of drill pads, mapping and channel sampling is highly encouraging, at the 100% owned Willoughby Property, located in the BC's prolific Golden Triangle 30km east of Stewart, BC. Exploration work is designed to target new areas of sulphide mineralization and prospective alteration with the purpose of identifying and refining drill targets. To-date, 150 surface samples have been shipped for analysis.StrikePoint's President and CEO, Shawn Khunkhun commented, \"The focus of 2020 exploration has two objectives: first, to improve continuity of high-grade mineralization at Willoughby by targeting structural traps and second, test broad zones of early-Jurassic, intrusive-related disseminated gold mineralization similar to the large deposits at Seabridge's KSM and Iskut Properties, Pretium's Snowfield deposit and Tudor/Teuton/American Creek's exciting new Treaty Creek discovery.\"Assay results from the surface samples will be released in the coming weeks, in addition to announcement of the start of diamond drilling. Additionally, the Company will shortly be commencing work at StrikePoint's Porter Property, a 100% owned, high-grade, past-producing silver deposit located immediately east of the town of Stewart. More information on the Properties can be found at strikepointgold.com. Grant of Stock OptionsThe Company also reports that 5,175,000 incentive stock options to its directors, officers, consultants and/or employees pursuant to the Company's stock option plan. The options are exercisable for a period of five years at a price of $0.20 per share.Willoughby ProjectThe Willoughby Project occurs along the eastern margin of the Cambria Icefield, located approximately seven kilometres east of the advanced-staged Red Mountain Gold Deposit acquired by Ascot Resources from IDM Mining. The property is underlain by Upper Triassic Stuhini rocks and Lower Jurassic Hazelton volcanic and sedimentary rocks that have been intruded by an early Jurassic-aged hornblende-feldspar porphyry, similar to and...