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StrikePoint Resumes Trading After Completion of Acquisition of Northumberland Gold Project, Emerging as a Tier-One Gold Explorer in Nevada’s Walker Lane

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StrikePoint Resumes Trading After Completion of Acquisition of Northumberland Gold Project, Emerging as a Tier-One Gold Explorer in Nevada’s Walker Lane

 

 

 

 

 

StrikePoint Gold Inc. (TSX-V: SKP) (OTCQB: STKXF)  is pleased to announce that it has completed its previously announced acquisition of the Northumberland Gold Project located in Nevada’s Walker Lane, from subsidiaries of Newmont Corporation  (NYSE: NEM). Trading has resumed following closing of the Transaction and will reflect the consolidation, announced on September 29, 2026.

 

StrikePoint Gold Highlights:

  • The Northumberland Gold Project hosts an independent mineral resource estimate of 2.86 million oz of gold equivalent in the indicated category and 1.57 Moz of AuEq* in the inferred category contained within 67 million tonnes and 31 Mt, respectively.
    • * For grades by individual metals, see Table 1 below, which includes the basis of the AuEq calculation. 
  • Brownfields site on private land potentially simplifies permitting: The current MRE for Northumberland is contained on private property which previously hosted open pit production.
  • StrikePoint is funded to significantly advance Northumberland. With approximately C$90M in working capital post closing and related costs the Company is positioned to rapidly advance the Project.
  • Regional Exploration Package: In addition to the known mineral resources at Northumberland, numerous near-pit and property-wide exploration targets offer potential for further additions to the mineral resource.
  • Exploration Opportunities: Northumberland has not been explored since approximately 2010, when the gold price was much lower.
  • Drill Permits in Place: Five separate drill permits are currently in place and are expected to facilitate rig mobilization and efficient exploration on both private and public land, subject to applicable permit transfer or replacement requirements.
  • Strong Shareholder Base: Tembo Capital, Ithaki and Blackrock combined own more than 40% of the Company, and new shareholders represent more than 90% of the current shareholders of the Company.

 

Michael G. Allen, President and CEO of StrikePoint, said “Northumberland represents a transformational acquisition for StrikePoint. While the current resource is significant, I am particularly excited by the exploration potential seen to date. We anticipate commencing drilling within a month with the goal of expanding and infilling the existing mineral resource. In addition, new untested targets are emerging and may be drilled in 2027. I would like to thank all the talented individuals that helped with the effort to acquire the Northumberland Gold Project and I look forward to the first exploration efforts on the Project in over 15 years.”

 

The Northumberland Gold Project

 

References to active mines and other mineral projects is for illustration purposes only. There can be no assurances the Company will achieve comparable results.

 

Project Location & Infrastructure

 

Northumberland is located approximately 150 kilometers by road from Tonopah, Nevada. Access is via paved highway and all-weather county road. Northumberland is located within the Walker Lane of Nevada. The Walker Lane is a prolific mineral trend with significant historical production, new discoveries (including AngloGold’s Arthur Gold Project as well as Centerra’s Goldfield Project, both currently under construction) and operational mines including the Round Mountain Mine operated by Kinross. Northumberland’s mineralization is considered to be Carlin-style: sediment hosted with fine disseminated gold. References to other mining projects and operations are for geographic context only and are not intended to imply comparable economics, resources, or production potential.

 

Project History

 

Gold was initially discovered at Northumberland in the late 1800s. Significant oxide mineralization was discovered in the 1930s and was mined intermittently by various operators until 1991. Interests in the property were transferred to Nevada Western Gold LLC, which became a subsidiary of New West Gold in 2005. Fronteer Gold acquired Nevada Western’s interest in Northumberland in 2007, before Fronteer, including Northumberland, was acquired by Newmont in 2011.

 

Initial Mineral Resource Estimate

 

The current MRE represents StrikePoint’s initial MRE for the Project. The available drilling information includes 1,511 reverse-circulation and 37 core holes, drilled by previous operators of the Project, including Cyprus Mines Corporation, Western States Minerals Corporation, Newmont USA Limited, and Fronteer Development Group Inc. StrikePoint has not yet carried out any drilling or exploration activities at the Project.

 

The MRE was prepared by Mr. Hebert Lopes Oliveira, B.Sc., P.Geo., Principal Resource Geologist at SLR Consulting (Canada) Ltd. who is an independent Qualified Person for the purposes of National Instrument 43-101 Standards of Disclosure for Mineral Projects. The MRE has an effective date of July 31, 2026 and uses the CIM (2019) Estimation of Mineral Resources and Mineral Reserves (MRMR) Best Practice guidelines and the CIM (2014) definitions for Mineral Resources. SLR has estimated a mineral resource as follows:

  • Indicated Resource: 67,008 kt containing 2.71 Moz of gold grading at 1.26 g/t Au with 11.60 Moz of silver grading at 5.38 g/t Ag. Combined, the gold and silver indicated mineral resource equates to 2.86 Moz of AuEq* at an average grade of 1.33 g/t AuEq*.
  • Inferred Resource: 30,967 kt containing 1.52 Moz of gold at a grade of 1.53 g/t Au with 4.26 Moz of silver at a grade of 4.28 g/t Ag. Combined, the gold and silver inferred mineral resource equates to 1.57 Moz of AuEq* at an average grade of 1.58 g/t AuEq*.

* For grades by individual metals, see Table 1 below, which includes the basis of the AuEq calculation.

 

Table 1: Northumberland Resource Estimate (Effective Date of July 31, 2026)

 

Category Tonnage
(kt)
Grade
(g/t Au)
Grade
(g/t Ag)
Grade
(g/t AuEq*)
Contained Metal
(Au oz)
Contained Metal
(Ag oz)
Contained Metal
(AuEq* oz)
Indicated 67,008 1.26 5.38 1.33 2,709,000 11,599,000 2,857,000
Inferred 30,967 1.53 4.28 1.58 1,519,000 4,260,000 1,568,000
Notes:

  1. The MRE was prepared by Mr. Hebert Lopes Oliveira, B.Sc., P.Geo., Principal Resource Geologist at SLR, who is an independent Qualified Person (QP) for the purposes of National Instrument 43-101 Standards of Disclosure for Mineral Projects (NI 43-101).
  2. This is the initial MRE for StrikePoint, and reflects revised price, cost, and technical assumptions over historical MREs, which should not be relied on. The MRE incorporates the CIM (2019) Estimation of Mineral Resources and Mineral Reserves (MRMR) Best Practice guidelines and the CIM (2014) definitions were followed for Mineral Resources.
  3. Metallurgical recoveries consider oxidation state as defined by sulphide content: < 0.5% (oxide) and ≥ 0.5% (fresh), and further subdivide fresh material into low, medium and high preg robbing categories as estimated from preg robbing values (PRV) and assumed as follows:
    1. Oxide material: 75% for both Au and Ag
    2. Fresh, low PRV material: 90% Au; 70% Ag
    3. Fresh, medium PRV material: 80% Au; 60% Ag
    4. Fresh, high PRV material: 60% Au; 40% Ag
  4. Gold Equivalent (AuEq) = Au(g/t) + (Ag(g/t) x (Ag price x Ag recovery / Au price x Au recovery)).
  5. Mineral Resources are estimated at variable AuEq cut-off grades based on long term prices of US$3,500 per gold ounce and US$55 per silver ounce and Au and Ag recoveries by material type as follows: 0.16 g/t (oxide); 0.31 g/t (fresh, low PRV); 0.35 g/t (fresh, medium PRV); and 0.47 g/t (fresh, high PRV).
  6. Mineral Resources are reported within an optimized pit shell, using the following assumptions:
    1. Overall pit slope angles of 45°
    2. Mining costs of US$2.12/tonne (t) mined
    3. G&A costs of US$1.35/t milled
    4. Processing costs of US$12/t milled (oxide); US$30/t milled (sulphide)
    5. In situ bulk density is 2.6 t/m3.
  7. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. There are no Mineral Reserves at Northumberland.
  8. This Mineral Resource estimate includes Inferred Mineral Resources which have had insufficient work to classify them as Indicated Mineral Resources. It is uncertain but reasonably expected that Inferred Mineral Resources could be upgraded to Indicated Mineral Resources with continued exploration.
  9. Numbers may not add or multiply accurately due to rounding.
  10. The effective date of the Mineral Resource Estimate for Northumberland is July 31, 2026
  11. The QP is not aware of any environmental, permitting, legal, title, taxation, socio-economic, marketing, political, or other relevant factors not discussed in this news release and the Technical Report that could materially affect the Mineral Resource estimate.

 

 

Table 2: Pit Optimization Parameters and Calculation of Marginal Cut-Off Grades

 

Parameter Units Non Preg-
Robbing (Oxides)
Low Preg-
Robbing
Medium Preg-
Robbing
High Preg-
Robbing
Gold Price US$/oz 3,500 3,500 3,500 3,500
Gold Payability % 99.5 99.5 99.5 99.5
Selling Cost (Transport & Refining) US$/oz Au 5.00 5.00 5.00 5.00
NSR Price US$/oz Au 3,495 3,495 3,495 3,495
Metallurgical Recovery % 75 90 80 60
Unit Operating Costs (Process + G&A) US$/t milled 13.35 31.35 31.35 31.35
Marginal Cut-off Grade g/t 0.16 0.31 0.35 0.47

 

 

The Northumberland deposit is open in multiple directions, and the property package has targets that may be subject to future exploration. Any potential expansion of the MRE would be subject to the results of further exploration.

 

Qualified Person Statement

 

All technical data and scientific data, as disclosed in this news release, have been reviewed and approved 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.

 

About StrikePoint

 

StrikePoint is a Vancouver-based multi-asset gold exploration company focused on acquiring, defining and developing precious metals resources in the Western United States. StrikePoint’s flagship project is the 100% owned Northumberland Gold Project located in Nevada’s Walker Lane. In addition to Northumberland, StrikePoint owns a portfolio of exploration properties in Nevada, including the Hercules and Cuprite Gold Projects.

 

About Nevada

 

Nevada is one of the most globally recognized mining jurisdictions in the world, with over 218 Moz Au produced to date. Multiple large mining companies operate mines in the state, including Nevada Gold Mines (Barrick/Newmont), Kinross, SSR Mining, McEwen Mining, and Integra Resources.

 

Posted October 8, 2026

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