StrikePoint Drills Broad Zones of Near Surface Oxide Gold at the Hercules Gold Project, Nevada

Rhea-AI Summary

StrikePoint Gold (STKXF) has announced final assay results from its Spring 2025 drill program at the Hercules Gold Project in Nevada's Walker Lane. Key highlights include: - Hole H25005: 117.35m of 0.45 g/t Au and 3.55 g/t Ag, including 12.19m of 2.17 g/t Au and 9.55 g/t Ag - Hole H25006: 10.67m of 1.17 g/t Au and 18.13 g/t Ag from surface, and 44.20m of 0.35 Au and 4.34 g/t Ag - All seven completed holes encountered significant near-surface gold mineralization - Cyanide solubility ranged between 89% and 32% per hole The drilling program, totaling approximately 1,400 meters, confirmed the project's predictable, large epithermal footprint. The mineralization remains open to the south, with strong results from the southern extremes of the target areas. The company sees potential for an open pit heap leach operation based on the presence of near-surface cyanide soluble gold.

Positive

• All seven drill holes successfully intercepted near-surface gold mineralization
• High-grade intercepts including 12.19m of 2.17 g/t Au and 9.55 g/t Ag
• Strong cyanide solubility up to 89%, indicating potential for heap leach operation
• Mineralization remains open to the south, suggesting expansion potential
• Consistent mineralization from surface, with 10.67m of 1.17 g/t Au starting at surface

Negative

• Insufficient data to estimate true thickness of mineralization
• Variable cyanide solubility (ranging from 89% to 32%) may impact recovery rates
• Further drilling needed to determine full extent of mineralization

H25005 intercepts 12.19m of 2.17 g/t Au and 9.55 g/t Ag
Within 117.35m of 0.45 g/t Au and 3.55 g/t Ag
H25006 cuts 10.67m of 1.17 g/t Au and 18.13 g/t Ag starting at surface
And 44.20m of 0.35 Au and 4.34 g/t
Deposits remain open

Vancouver, British Columbia--(Newsfile Corp. - May 5, 2025) - StrikePoint Gold Inc. (TSXV: SKP) (OTCQB: STKXF) ("StrikePoint" or the "Company"), is pleased to announce final assay results from its Spring 2025 drill program on the Hercules Gold Project located in Nevada's prolific Walker Lane.

Michael G. Allen, President and CEO of StrikePoint said, "This drill program successfully demonstrated that the Hercules Gold Project has a predictable, large, epithermal footprint hosting abundant near surface oxide gold. Our geological model for the project has been confirmed and we believe that the mineralization at Hercules shows the grade and consistency to move forward with the project. Holes 5 and 6 were particularly interesting as they delivered strong mineralization at the southern extremes of the target areas, indicating that the mineralizing systems remain robustly open."

(Video: Strikepoint CEO Michael Allen reviews results: https://youtu.be/tE7f9sUE0L8)

Cannot view this video? Visit:
https://www.youtube.com/watch?v=tE7f9sUE0L8

Hercules Gold Project May 5, 2025, Drill Results

Hole ID	From (m)	To (m)	Length (m)	Au (g/t)	Ag (g/t)
H25005	187.45	304.80	117.35	0.45	3.55
incl.	210.31	222.50	12.19	2.17	9.55
H25006	0.00	10.67	10.67	1.17	18.13
incl.	0.00	6.10	6.10	1.90	29.90
and	66.58	112.78	44.20	0.35	4.34
incl.	92.96	99.06	6.10	0.83	14.73
H25007	121.92	124.97	3.05	0.50	2.45
and	138.68	141.73	3.05	0.59	5.33

 

Length reported above is sample length, there is insufficient data to estimate true thickness.

Drilling Discussion:

The Company completed 7 drillholes totaling approximately 1,400 meters of reverse circulation drilling in March of 2025 on the Hercules Gold Project. All seven holes hit near surface gold in significant quantities. Initial results were reported in the Company's April 28, 2025 news release. Complete drill results from the Spring 2025 program are presented below.

Hole H25005 which cut 117.35 m of 0.45 g/t Au with 3.55 g/t Ag is the furthest south drilling on the Cliffs target to date and shows that the system remains open to the south. The next nearest hole to the to H25005 is hole H20040 which returned 39.62m of 1.12 g/t Au with 5.38 g/t Ag. These two holes give a strong indication of the strength of the mineralization at the southern portion of the Cliffs Target.

Similarly, H250006 encountered 10.67m of 1.17 g/t Au and 18.13 g/t Ag starting at surface with an additional 44.20m of 0.35 g/t Au and 4.34 g/t Ag showing that multiple zones of the Hercules showing are also open to the south.

Hole H25007 was drilled to test a geochemical anomaly to the east of the Loaves showing and hit two zones of encouraging grades.

As expected, shallower gold intercepts showed higher cyanide solubility than deeper intercepts. Comparing cyanide soluble gold assays to fire assays showed that cyanide solubility ranged between 89% and 32% on a per hole basis. With drilling and subsequent testwork showing abundant near surface cyanide soluble gold, the Company is optimistic of the potential of an open pit heap leach operation at the Hercules Gold Project.

Figure 1: Hercules Gold Project Spring 2025 Drill Collars

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5044/250677_18e42ec1f44c6895_002full.jpg

About the Hercules Gold Project

Located approximately 1 hour from Reno, Nevada, the Hercules Gold Project consists of 1,323 unpatented claims, and four patented claims covering approximately 100 square kilometers. The Company bought the Hercules Gold Project for $250,000 in August of 2024.

The Hercules Gold Project features an Exploration Target, as defined by NI 43-101, as follows:

Hercules Gold Project Exploration Target Model *

Exploration Target
Tonnage Range (tonnes)	Grade Range (g/t) Au
40,300,000 - 65,600,000	0.48 - 0.63

 

* 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 expressed should not be misrepresented or misconstrued as an estimate of a mineral resource or mineral reserve.

The Exploration Target was developed using historical drilling, trenching data, and gold assay results. Mineralization trends were evaluated using Artificial Intelligence ("AI") to generate a trend model, which informed the construction of grade shells in combination with current geological understanding. These grade shells were used to estimate the distribution of mineralized tonnes and to support the generation of grade-tonnage curves. 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 meters 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.

Using the Exploration Target as a guide, the Company drilled 7 holes into the Hercules Gold Project in the Spring of 2025, complete results are presented below.

Hercules Gold Project Spring 2025, Complete Drill Results

Hole ID	From (m)	To (m)	Length (m)	Au (g/t)	Ag (g/t)
H25001	4.57	9.14	4.57	0.22	7.37
and	12.18	41.11	28.93	0.45	6.05
incl.	30.45	36.54	6.09	1.04	14.27
and	62.42	80.69	18.27	0.61	4.66
incl.	66.99	73.08	6.09	1.33	10.38
H25002	0.00	18.29	18.29	0.30	1.68
and	89.92	115.82	25.91	0.55	2.73
H25003	0.00	3.05	3.05	0.23	1.60
and	19.81	25.91	6.10	0.43	2.28
and	30.48	60.96	30.48	0.37	3.57
incl	32.00	35.05	3.05	0.97	4.50
and	73.15	86.87	13.72	0.25	2.37
H25004	0.00	32.04	32.04	0.54	4.62
incl	0.00	4.57	4.57	1.14	10.53
and incl	24.38	30.48	6.10	1.50	11.75
and	103.63	121.92	18.29	0.30	3.12
H25005	187.45	304.80	117.35	0.45	3.55
incl.	210.31	222.50	12.19	2.17	9.55
H25006	0.00	10.67	10.67	1.17	18.13
incl.	0.00	6.10	6.10	1.90	29.90
and	66.58	112.78	44.20	0.35	4.34
incl.	92.96	99.06	6.10	0.83	14.73
H25007	121.92	124.97	3.05	0.50	2.45
and	138.68	141.73	3.05	0.59	5.33

 

Hercules Gold Project May 5 2025, Drill Hole Information

HoleID	Az	Inc.	Hole Length (m)
H25001	290	-45	152.44
H25002	300	-60	160.06
H25003	360	-90	152.44
H25004	320	-60	152.44
H25005	270	-45	382.62
H25006	270	-45	250
H25007	300	-45	155.49

 

For further information on the Exploration Target on the Hercules Gold Project refer to the Company's March 3, 2025 release.

About Nevada

Nevada is one of the most globally recognized mining jurisdictions in the world, with over 218 million ounces of gold produced to date. Multiple operators in the state, including Nevada Gold Mines (Barrick/Newmont), Kinross, SSR Mining, McEwan Mining, Integra Resources and Calibre Mining. Many of the operations are open pit, heap leach operations, producing at similar grades to the Exploration Target defined on the Hercules Gold Project.

About StrikePoint

Headed by CEO Michael G. Allen, StrikePoint is a multi-asset gold exploration company focused on building precious metals resources in the Western United States and in Canada.

Mr. Allen has been working in the Walker Lane for the last 15 years, with multiple transactions completed in that timeframe including the acquisition of the Sterling Gold Project, located near Beatty, Nevada, and the sale of Northern Empire to Coeur Mining for approximately $120 million. The Sterling Gold Project is now part of AnglogGold Ashanti's "Expanded Silicon" project. In addition, Mr. Allen was the past President and CEO of Elevation Gold Mining Corporation, which operated Arizona's largest gold mine.

The Management and Board of StrikePoint has strong expertise in exploration, finance and engineering.

StrikePoint is rapidly becoming one of its largest holders of mineral claims with approximately 145 square kilometers of prospective geology under claim, encompassing two district scale projects, the Hercules Gold Project and the Cuprite Gold Project.

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.

QA/QC

Samples were split in the field using industry standard techniques. Samples were sealed in individual numbered bags prior to shipment to ALS Global in Reno, Nevada for sample preparation, prior to assaying in ALS Global facilities in North Vancouver.

Gold is determined by fire-assay fusion of a 30-gram sub-sample with atomic absorption spectroscopy (AAS). Various metals including silver, arsenic, and antimony are analyzed by inductively-coupled plasma (ICP) atomic emission spectroscopy, following multi-acid digestion. ALS Geochemistry meets all requirements of International Standards ISO/IEC 17025:2017 and ISO 9001:2015. ALS Global operates according to the guidelines set out in ISO/IEC Guide 25.

The Company maintains a robust QA/QC program that includes the collection and analysis of duplicate samples and the insertion of blanks and standards (certified reference material).

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.

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
T: (604) 551-2360
E: kh@strikepointgold.com
W: www.strikepointgold.com

Cautionary Statement on Forward Looking Information

Certain statements made and information contained herein may constitute "forward looking information" and "forward looking statements" within the meaning of applicable Canadian and United States securities legislation. These statements and information are based on facts currently available to the Company and there is no assurance that actual results will meet management's expectations. Forward-looking statements and information may be identified by such terms as "anticipates", "believes", "targets", "estimates", "plans", "expects", "may", "will", "speculates", "could" or "would".

All of the forward-looking statements made in this document are qualified by these cautionary statements. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated, forecast or intended and readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions which may have been used. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking information. Accordingly, there can be no assurance that forward-looking information will prove to be accurate and forward-looking information is not a guarantee of future performance. Readers are advised not to place undue reliance on forward-looking information. The forward-looking information contained herein speaks only as of the date of this document. The Company disclaims any intention or obligation to update or revise forward-looking information or to explain any material difference between such and subsequent actual events, except as required by applicable law.

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/250677

FAQ

What are the key drilling results from StrikePoint Gold's (STKXF) Hercules Project in May 2025?

The key results include hole H25005 with 117.35m of 0.45 g/t Au and 3.55 g/t Ag (including 12.19m of 2.17 g/t Au), and hole H25006 with 10.67m of 1.17 g/t Au and 18.13 g/t Ag from surface.

What is the significance of the cyanide solubility results at StrikePoint's Hercules Project?

The cyanide solubility ranging between 89% and 32% suggests potential for an open pit heap leach operation, with shallower intercepts showing higher solubility.

How many drill holes did StrikePoint complete at Hercules in Spring 2025?

StrikePoint completed 7 drill holes totaling approximately 1,400 meters of reverse circulation drilling.

Is the mineralization at StrikePoint's Hercules Project still open for expansion?

Yes, the mineralization remains open to the south, with holes H25005 and H25006 showing strong mineralization at the southern extremes of the target areas.

What type of deposit is StrikePoint's Hercules Project?

The Hercules Project is described as having a predictable, large epithermal footprint hosting abundant near-surface oxide gold.