Cuprite LLC Acquires Ground Adjacent and Internal to StrikePoint Gold's Cuprite Gold Project, Walker Lane, Nevada
Rhea-AI Summary
StrikePoint Gold Inc. (TSXV: SKP) (OTCQB: STKXF) has announced updates to its Cuprite Gold Project in Nevada. Cuprite , believed to be controlled by the Electrum Group, has acquired approximately 152 claims adjacent to StrikePoint's project. Additionally, a third party has leased 54 claims internal to the project. StrikePoint's CEO, Michael G. Allen, views this activity as validation of the project's potential, citing recent drill results that indicate a large-scale mineralized system.
The company's inaugural drill program yielded gold mineralization in four out of five holes. Recent lithogeochemical and clay alteration studies have confirmed the presence of East-West structures forming a down dropped graben and northeast trending structures, which may serve as conduits for mineralizing fluids. StrikePoint is currently reviewing all data before proceeding with the next phase of drilling.
Positive
- Acquisition of adjacent claims by Cuprite validates the project's potential
- Inaugural drill program yielded gold mineralization in 4 out of 5 holes
- Lithogeochemical studies confirmed presence of favorable structures for mineralization
Negative
- None.
News Market Reaction 1 Alert
On the day this news was published, STKXF declined 4.96%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Vancouver, British Columbia--(Newsfile Corp. - September 9, 2024) - StrikePoint Gold Inc. (TSXV: SKP) (OTCQB: STKXF) ("StrikePoint" or the "Company") is pleased to provide an update the wholly owned Cuprite Gold Project.
Cuprite LLC acquired by staking approximately 152 claims immediately to the West of the Company's Cuprite Gold Project. This claim block ties onto the Company's land package.
StrikePoint believes that Cuprite LLC is controlled by the Electrum Group a New York-based registered investment adviser. Electrum makes strategic investments principally in high-quality precious metals assets and opportunities and manages Client assets on a discretionary basis, valued at ~
In addition, the Company has recently become aware that that a third party, potentially associated with the Electrum Group, has leased the 54 claims that are internal to the Cuprite Gold Project.
"The recent activity validates our excitement about the Cuprite Gold Project" said CEO Michael G. Allen. "Our drill results show that the Cuprite Project hosts a large-scale mineralized system, and others are moving into this emerging gold district in Nevada where StrikePoint has a strong land position."
Figure 1: Cuprite Gold District Land Position
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5044/222635_e09f5b73543c79bb_002full.jpg
StrikePoint Golds inaugural drill program at Cuprite project was the first drilling on the project since staking was allowed on the property. This inaugural drill program cut gold mineralization in four of five holes. Further details can be found in the Company's June 4, 2024 news release.
Lithogeochemistry and Clay Alteration Studies
The Company recently completed detailed lithogeochemical and preliminary clay alteration studies on reverse circulation chips from our recent drill campaign. The detailed analysis confirmed the presence of a series of East-West structures forming a down dropped graben, as well as other northeast trending structures. The clay alteration suggests that these structures have become conduits for mineralizing fluids. The Company is in the process of reviewing all data prior to the next phase of drilling.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release
Qualified Person Statement
All technical data, as disclosed in this press 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 National Instrument 43-101.
About StrikePoint
StrikePoint Gold is a multi asset gold exploration company focused on building precious metals resources in Canada and the Western United States.
The Cuprite Gold Project consists of approximately 574 unpatented claims covering approximately 44-square kilometers, located 15-kilometers south of Goldfield Nevada, and 85-kilometers northwest of Beatty. The Cuprite Gold Project is easily accessible by Highway 95 on the western margin of the property.
Approximately one hours drive from Reno the Company owns the Hercules Gold Project covering approximately 100 square kilometers with numerous drilled gold showings. Hercules is a low-sulphidation - epithermal gold target.
Both the Cuprite Gold Project and the Hercules Gold Project are located in the Walker Lane Gold Trend, which hosts AngloGold's exciting 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.
ON BEHALF OF THE BOARD OF DIRECTORS OF STRIKEPOINT GOLD INC.
"Michael G. Allen"
Michael G. Allen
President, Chief Executive Officer & Director
For more information, please contact:
StrikePoint Gold Inc.
Knox Henderson, Investor Relations
T: (604) 551-2360
E: kh@strikepointgold.com
W: www.strikepointgold.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/222635
FAQ
What recent acquisitions have occurred near StrikePoint Gold's Cuprite Gold Project?
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