StrikePoint Gold Inc. is “laser-focused” on its Porter Idaho and Willoughby properties in British Columbia’s Golden Triangle.
StrikePoint Gold Inc. (SKP:TSX.V; STKXF:OTCQB) is “laser-focused” on its summer time exploration marketing campaign at its two flagship 100%-owned Golden Triangle initiatives in British Columbia.
Chief Government Officer and Director Shawn Khunkhun mentioned the corporate will not be laying low through the turmoil within the markets however is “staying energetic” at its Porter silver and Willoughby gold and silver initiatives.
“We’re within the exploration enterprise to make discoveries,” Khunkhun advised Streetwise Experiences. “I’m making an attempt to ship to my shareholders 20x returns, nevertheless it’s not an setting the place we are able to go off and advance three completely different initiatives.”
The corporate plans to drill 3,000 meters—1,600 meters of them at Porter, which a 2012 Nationwide Instrument 43-101 technical report estimated has 11 million ounces (11 Moz) of silver (Ag) at a grade of 868 grams per tonne (g/t).
Khunkhun mentioned it’s solely a matter of time earlier than the venture attracts the eye of a significant. He in contrast it to Alexco’s Keno Hill venture within the Yukon, which has a grade of 804 g/t Ag. Alexco was simply purchased by Hecla Mining Inc., the biggest main silver producer in the US, in an all-stock settlement valued at about $74 million.
“The one firm that (has silver) grades wherever close to ours simply acquired purchased out by America’s largest silver producer,” Khunkhun mentioned.
Extending Porter’s Sources
Each StrikePoint initiatives sit in an excellent neighborhood, British Columbia’s Golden Triangle. The world has hosted greater than 100 years of mining and is the house of the highest-grade mine ever present in North America, Barrick Gold Corp.’s previous producing Eskay Creek. Eskay produced 3.3 Moz of gold at a median grade of 45 g/t and 160 Moz of silver at a median grade of two,220 g/t over 14 years.
Porter hosts two mines: Prosperity-Porter Idaho, and Silverado. The corporate plans to make use of the drill outcomes to increase the historic useful resource estimates.
“We’ve acquired this high-grade useful resource, we’ve designed a program to attempt to check the boundaries of the useful resource,” Khunkhun mentioned. “Is it open at depth? It’s open alongside strike? That’s what we’re making an attempt to show.”
The Porter venture has two shears-hosted silver-rich vein programs, in accordance with the corporate. They’re 2.35 kilometers aside on the alternative sides of Mt. Rainey, which overlooks the city of Stewart. The corporate desires to see if these veins join by way of the mountain and if a community of underground workings within the mountain might be rehabilitated to make use of for additional exploration and drilling.
Willoughby: ‘The place Can We Match a Huge Mine?’
StrikePoint acquired Willoughby, which is about 6 kilometers east of Ascot Sources Ltd.’s Crimson Mountain, in 2019 for $85,000. In accordance with the corporate, 119 holes had been drilled at Willoughby totaling 12,000 meters between 1989 and 1996. Underground exploration additionally was undertaken.
The corporate has discovered a large new sulfide mineralization that was beforehand underneath ice on the Edge zone. Floor chip channel samples in 2021 returned 8.59 g/t gold equal (AuEq) over 3 meters, 4.74 g/t gold equal (AuEq) over 7 meters, and three.48 g/t gold equal (AuEq) over 18 meters.
Khunkhun mentioned StrikePoint is “swinging for the fences” with its 1,400 meters of drilling in six holes on the venture. They plan to drill northern and southern extensions to the 600-meter pattern of mineralized zones alongside the Willoughby nunatak and to drill for brand spanking new mineralization to the west of the nunatak pattern.
“What we’re saying this yr is, the place can we match an enormous mine on this property?” he mentioned. “There’s an enormous quantity of sulfides, not like something we’ve seen within the Golden Triangle.”
A lot of the drilling at Willoughby is exploratory, Khunkhun mentioned.
“We’re taking some massive dangers, however within the exploration recreation, massive dangers pay the massive rewards,” he mentioned. “Our purpose at Willoughby is to make an enormous new discovery.”
Among the business’s largest gamers are shareholders in StrikePoint, together with Eric Sprott, who owns about 16.5%, and Skeena Sources, which owns 6%. Different establishments with positions embody Denver-based Crescat Capital, Vancouver-based Delbrook Capital Advisors, and Calgary-based Middlefield Capital.
StrikePoint’s market cap is CA$11.4 million with 207.35 million shares excellent. It trades in a 52-week vary of CA$0.20 and CA$0.05.
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