Potential Feeder Structures Identified At Cuprite Gold Project

Potential Feeder Structures Identified At Cuprite Gold Project

VANCOUVER – StrikePoint Gold Inc. reported on its recently completed Induced Polarization (IP) geophysical survey on the 44 square kilometer Cuprite Gold Project strategically located in the Walker Lane Trend of Nevada between Centerra’s Gemfield Deposit and Anglogold’s “Expanded Silicon” project. Surface mapping has identified a large hydrothermal system active within the Stonewall Mountain Caldera. The new geophysical data suggests that sulphidic feeders with associated silica flooding and large-scale boiling horizons are present. The interpreted feeder zones appear to be coincident with the highest-grade mercury in soil anomalies and mapped structures at surface. The combined data suggests the possibility of a large epithermal gold deposit at depth similar to Anglogold’s nearby 4.22 million gold ounce Silicon Deposit. The StrikePoint team is compiling the newly acquired data to refine drill targets for the upcoming program scheduled to begin in late February 2024.

Michael G. Allen, President and CEO, said, “The survey’s results are extremely encouraging. These targets appear to be relatively close to surface and of a size that could support a major new discovery in Nevada. We are actively preparing for the maiden drill program for this property.”

In early January 2024 an additional Induced Polarization survey was completed at the Cuprite Gold Project. Subsequent processing and interpretation suggests the elevated chargeability values identify zones of hydrothermal activity. In addition, a low resistivity layer noted in the data possibly represents a boiling horizon which migrated up and down within this large-scale hydrothermal system, suggesting the possibility of additional bulk tonnage targets at depth. Surface mapping which reveals structural control, silicification, and widespread hydrothermal alteration supports the interpretation of the IP data. The Company recently received approval, and has successfully bonded drilling permits, for up to 10 sites on the Cuprite Gold Project. The program is planned for this month, totalling approximately 5,000 meters in up to 10 holes.