StrikePoint Gold Inc. (TSX-V:SKP) (OTCQB:STKXF) is pleased to announce the conclusion of its first technical report on the Hercules Gold Project located in Nevada’s prolific Walker Lane, including the establishment of a drill defined, bulk tonnage Exploration Target.

Michael G. Allen, President and CEO of StrikePoint commented, “This initial technical report is a significant step in providing valuable information on the Hercules Gold Project and as to the opportunity and potential size and scope of this recently acquired asset.  The Exploration Target reviewed the current and historical drilling on the project, but most notably we believe this previous drilling has only scratched the surface of this project’s potential, as we have multiple untested geophysical and geochemical targets, some of which include visible gold at surface.  We believe that the Hercules Gold Project has the potential to be Nevada’s next multi-million ounce gold resource.”

Report Conclusions

In accordance with the guidelines set forth in the National Instrument 43-101, the report establishes a baseline Exploration Target for the Hercules Gold Project ranging between 819,000 and 1,018,000 ounces of Gold within 40.3 million to 65.6 million tonnes of mineralized material with an estimated grade range between 0.48 and 0.63 grams per tonne Au.  The quantity and grade are conceptual in nature, and there has not been sufficient exploration to define a mineral resource, and it is uncertain if further exploration will result in the target being delineated as a mineral resource. The Exploration Target Model has not been evaluated for reasonable prospects of eventual economic extraction.

The technical report is being completed by Mr. Michael Dufresne, M.Sc, P.Geol., P.Geo, President and CEO of APEX Geoscience Ltd., an independent Qualified Person as defined by NI 43-101.  The technical report will include details on the Exploration Target Model highlighted below and will be available on SEDAR (www.sedar.com) within 45 days of this news release.

Exploration Target

Table 1: Hercules Gold Project Exploration Target Model *

*  The stated potential quantity and grade is conceptual in nature, and there has not been sufficient exploration to define a mineral resource, and it is uncertain if further exploration will result in the target being delineated as a mineral resource.  The Exploration Target Model has not been evaluated for reasonable prospects of eventual economic extraction. 

The Exploration Target was completed utilizing a grade shell model in conjunction with the geological understanding of the mineralization to date. The grade shells were then utilized to provide grade tonnage curves with an Artificial Intelligence estimated model that utilized the drillhole gold assays and kriging. The Exploration Target and AI generated model will be utilized to guide future drilling in these areas of known mineralization.

The Exploration Target used data from the Sirens, Hercules, Cliffs, Loaves, Lucky Rusty, Rattlesnakes, and NorthEast showings on the Hercules Gold Project.  In this area there are a total of 306 historical drillholes yielding a total of 31,776 m in the drillhole database along with data for 121 surface trenches. The drillhole database contains a total of 18,409 sample interval entries, with the trenches providing another 475 sample entries. A total of 5,620 sample intervals are contained within the mineralization domains utilized for the Exploration Target.

Numerous targets remain untested and the previously drill showings remain open for further expansion and potentially conversion to mineral resources.

Figure 1: Hercules Gold Project Exploration Target Model

Of note, there is insufficient data in the historical database to provide silver grade estimates.  The drillhole and trench database contains a total of 5,520 samples with greater than or equal to 0.1 g/t Au. The average Ag to Au ratio of those samples is 9.73:1. Silver was not modelled as part of the Exploration Target.

Figure 2: Hercules Gold Project Map

Qualified Persons 

All technical data, as disclosed in this news release, has been verified by Michael G. Allen, P. Geo, President and CEO of the Company.  Mr. Allen is a qualified person as defined under the terms of NI 43-101.

The Hercules Gold Project Exploration Target was completed by Mr. Michael Dufresne, M.Sc, P.Geol., P.Geo, President and CEO of APEX, an independent Qualified Person as defined by NI 43-101 and he has approved of the disclosure herein.

About StrikePoint

StrikePoint is a multi-asset gold exploration company focused on building precious metals resources in the Western United States and in Canada.

Both the Hercules Gold Project and the Cuprite Gold Project are located in Nevada’s Walker Lane Gold Trend where StrikePoint is rapidly becoming one of its largest holders of mineral claims with approximately 145 square kilometers of prospective geology under claim.

The Walker Lane hosts AngloGold Ashanti’s multi-million once Silicon Gold and Merlin discoveries and Kinross’s Tier – 1 Round Mountain Mine.

In addition, the Company controls two advanced-stage exploration assets in British Columbia’s Golden Triangle: the past-producing high-grade silver Porter-Idaho Project and the high-grade gold Willoughby Project.