Strikepoint Gold Inc. Achieves up to 98.7% Gold Recoveries and 89% Copper Recoveries from Initial Metallurgical Studies on the Pluto Property, Yukon Territory
Vancouver, July 10, 2018 - StrikePoint Gold Inc. (TSXV: SKP) (OTCQB: STKXF) is pleased to report results from an initial metallurgical study completed on drill samples collected on the Pluto Property during the 2017 drilling campaign. Highlights:
- The combination of gravity, flotation and leach tests resulted in significant gold recoveries of 89.6% to 98.7%.
- Copper from the same composites was recovered at 87.4% to 89% in the flotation stage.
Results Summary
The overall testing produced good gold and copper recoveries for all three composites. These are summarized below:
| Comp | Drill Hole | Interval | Gravity Recovery (Au) | Flotation Recovery (Au) | Cyanide Leach Recovery (Au) | TOTAL RECOVERY (Au) | TOTAL RECOVERY (Cu) |
| 1 | 17-CRN-02 | 15.24m at 1.05g/t Au and 0.27% Cu | 21.8% | 46.5% | 21.2% | 89.5% | 88.0% |
| 2 | 17-CRN-07 | 32.0m at 0.14% Cu | 49.2% | 39.5% | 10.0% | 98.7% | 87.4% |
| 3 | 17-CRN-08 | 7.62m at 0.24% Cu | 38.4% | 45.6% | 13.7% | 97.7% | 89.0% |
This study was commissioned as part of an ongoing assessment of the Yukon property portfolio. This pre-scoping level process benchmarking was developed in a partnership between Strikepoint and SGS, with the intention to assess recovery potential ahead of additional exploration expenditures. As this was completed from 'first pass' drilling results, it has given Strikepoint the confidence in the Pluto property to pursue future exploration and to seek additional and elevated grade.
All analytical work was completed by SGS at its facility in Burnaby, Vancouver.
About the Pluto Property
The Pluto Property is in the Kluane region of the Yukon Territory, and covers an area of 21km x 22km, and is 100km southwest of the town of Carmacks. The ground is mainly rolling hills with deep river valleys, but outcrop exposure is very poor. The aim of the 2017 program was to follow up on the soil anomalies identified in 2012 by Ryan Gold Corp., and to provide a subsurface context to the geology through RAB drilling.
Five main target areas have been identified on the property to date: Charon, Styx, Nyx, Hydra and Cerberus. The first four appear to have mineralization associated with the interplay between a series of interbedded limestone and schist beds interacting with volcanic dykes and quartz-stockwork veins, whilst Cerberus appears to be more vein hosted gold and silver in nature.
The Charon Target is an area approximately 2.5km by 2km in the northeastern corner of Pluto. In 2012, soil samples from this site returned grades up to 15.05g/t gold along a 1km 'band."
Strikepoint is currently in the process of completing a Class 3 Exploration Permit following these results and has completed extensive talks with the Yukon Socio-Economic Assessment Board (YESAB), the Kluane and Champagne-Aishihik First Nations and various other stakeholders.
QA/QC
The Company maintains a rigorous QA/QC program with respect to the preparation, shipping, analysis and checking of all samples and data from the properties. Quality control for field sampling and drill samples at the Company's projects covers the complete chain of custody of samples, including sample handling procedures and analytical-related work, plus the insertion of standard and blank materials. The QA/QC program also includes data verification procedures. ALS Laboratories in Vancouver, Canada (ISO 17025:2005 accreditation), assayed all grab samples from the current field program using fire assay and ICP Mass Spectroscopy methods. Drill samples were processed by Bureau Veritas Labs in Vancouver, Canada (ISO9001:2008 accreditation).
The technical information contained in this news release has been approved by Andy Randell, P. Geo., Vice President, Exploration of StrikePoint Gold. Mr. Randell is a qualified person as defined in NI 43-101.
For further information, please visit our website: www.strikepointgold.com
ON BEHALF OF THE BOARD of StrikePoint Gold Inc.
Shawn Khunkhun
CEO and Director
For more information, contact:
Shawn Khunkhun
604-602-1440
sk@strikepointgold.com
Neither the 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.
