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StrikePoint Options Property in Developing Wabigoon Subprovince, Ontario
TSXV: SKP CALGARY , Jan. 22, 2014 / CNW/ - StrikePoint Gold Inc. (the " Company ") i...
About this update from Strikepoint Gold Inc.
[{"type":"text","content":"\n\nTSXV: SKP\n\n\n\nCALGARY, Jan. 22, 2014 /CNW/ - StrikePoint Gold Inc. (the \"Company\") is pleased to announce it has acquired an option to earn a 100% interest in the Lobstick Gold Property located in the Western Wabigoon Subprovince, Lobstick Township, Ontario within the Rowan Lake Greenstone Belt.     \n\nThe Lobstick property consists of 32 claim units totalling 512 hectares  located 50 kilometres southeast of Kenora, Ontario.  The property is readily accessible by logging roads and10 km east of Hwy 71.\n\nOn a regional scale the property occurs near the junction of two major regional crustal breaks - the Wabigoon Fault and the Pipestone-Cameron Fault.  The Wabigoon Fault is associated with Treasury Metal's Goliath Gold Deposit and the Pipestone-Cameron Fault is associated with Chalice Gold's Cameron Lake Gold Deposit. \n\nLocally, the property is within the Lobstick Bay Deformation Zone, which is a splay off the Wabigoon Fault.  This deformation zone is comprised of three strongly-foliated, intensely altered, quartz, sericitic-schists containing disseminated pyrite within intermediate to felsic volcanics.  \n\nThe alteration is highly anomalous in gold mineralization and historical drilling confirms this scenario, with an intercept in the Main Zone assaying 38.95 m of 0.63 g /t Au (DDH LB01-03).  Of noteworthiness, the Main Zone, hosting this intercept, is only drilled to a maximum depth of approximately 25 vertical meters.  This area has received very little attention; a limited drilling program was performed in 1986. \n\nIn the Wabigoon Region, New Gold and Bayfield Ventures are using these lower grade mineralizing envelopes as exploration guides on the Rainy River/Burns Block Projects to delineate higher grade gold discoveries down dip/plunge of lower grade mineralization that is delineated for a low-grade open pit scenario.  \n\nStrikepoint's management believes this property represents an excellent discovery-stage opportunity.  The rock types in the area are similar to the Cameron Lake and Goliath gold deposits in the region.  Sedimentary rocks in the hanging wall of the shear zone suggest similar geometry to Treasury Metal's Goliath Gold Deposit and Barrick's Hemlo Gold Mines; acting as both cap rocks and focusing mineralizing fluids.  Expl...