VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov 25, 2014) - StrikePoint Gold Inc. (the "Company" or "StrikePoint") (TSX VENTURE:SKP)(STKXF) announces that option partner, JOVG Global Mineral Enterprises, a private company based in Winnipeg, Manitoba, has completed their 2014 exploration program on its Angelina property located at the south-eastern end of the Rice Lake gold belt in Manitoba.
The program consisted of surface trenching and sampling. StrikePoint is currently awaiting the analysis of these samples. The program was designed to understand the geology of previously discovered high-grade auriferous quartz veins for follow-up exploration and drilling.
Previous assay results returned significant high-grade gold and silver grab samples near Halfway Lake, termed the "Hot Zone." The Hot Zone is a 700 meter x 200 meter area of intense deformation. Two sub-parallel surface veins were intermittently exposed within this zone, with strike lengths of 100 meters and 50 meters (PR June 23, 2011), which has been the focus of ongoing exploration:
Vein 1 Grab Samples (+100 m Strike Length)
- 199.0 g/t Au and 371 g/t Ag
- 80.1 g/t Au and 286 g/t Ag
- 59.7 g/t Au and 189 g/t Ag
Vein 2 Grab Samples (+50 meter Strike Length)
- 45.1 g/t Au and 161 g/t Ag
- 26.7 g/t Au and 101 g/t Ag
- 10.5 g/t Au and 69 g/t Ag
Pursuant to the terms of the option agreement, JOVG has the option to earn a 50-per-cent undivided interest in the Angelina property comprising approximately 2,337 hectares situated in southeast Manitoba. The option agreement provides that JOVG shall conduct a total minimum of $150,000 in exploration work on the property before February 15, 2015, $150,000 by February 15, 2016, $250,000 by February 15, 2017, $250,000 by February 15, 2018.
On behalf of the Board of Directors of StrikePoint Gold Inc.
Shawn Khunkhun, President and CEO
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Note Regarding Forward-Looking Statements
This press release contains forward-looking statements and forward-looking information (collectively "forward- looking information") within the meaning of applicable securities laws relating to the success of the Project and the Option Agreement. Forward-looking information typically uses words such as "anticipate", "believe", "project", "expect", "goal", "plan", "intend" or similar words suggesting future outcomes, statements that actions, events or conditions "may", "would", "could" or "will" be taken or occur in the future. The forward-looking information is based on certain key expectations and assumptions made by the Company's management, including expectations and assumptions concerning prevailing commodity prices, exchange rates, interest rates, applicable royalty rates and tax laws; future production rates and estimates of operating costs; performance of existing and future wells; reserve and resource volumes; anticipated timing and results of capital expenditures; the success obtained in drilling new wells; the sufficiency of budgeted capital expenditures in carrying out planned activities; the timing, location and extent of future drilling operations; the state of the economy and the exploration and production business; results of operations; performance; business prospects and opportunities; the availability and cost of financing, labor and services; the impact of increasing competition; ability to market oil and natural gas successfully; the Company's ability to access capital, and obtaining the necessary regulatory approvals.
Although the Company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Since forward-looking information addresses future events and conditions, by its very nature they involve inherent risks and uncertainties. The forward looking statements contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.