Junior ‘Swings for Fences’ in the Golden Triangle :: InvestMacro


source: Streetwise Reports 07/15/2022

StrikePoint Gold Inc. on its properties in Porter Idaho and Willoughby in the Golden Triangle, British Columbia.

StrikePoint Gold Inc. (SKP: TSX.V; STKXF: OTCQB) “Laser Focused” on its summer expedition at its two pilot 100% owned projects in the Golden Triangle in British Columbia.

CEO and Director, Sean Khoncon, said the company is not holding back during turmoil in the markets but “remains active” in the Porter Silver and Willoughby Gold and Silver projects.

“We are working in the field of exploration to make discoveries,” said Khoncun. Streetwise Reports. “I’m trying to give my shareholders 20x returns, but it’s not an environment in which we can launch and advance with three different projects.”

company Plan to dig 3000 meters—1,600 meters of which are at Porter, which a 2012 technical report from National Instrument 43-101 estimated to contain 11 million ounces (11 Moz) of silver (Ag) with a grade of 868 grams per ton (g/t).

Source: StrikePoint Gold Inc.

It’s only a matter of time before the project attracts Raed’s attention, said Khoncun. Compare it to Alexco’s Kino Hill project in Yukon, which has a grade of 804 g/ton Ag. Alexco has just been acquired by Hecla Mining Inc. , the largest primary producer of silver in the United States, in All stock agreement Its value is estimated at $74 million.

“The only company (with silver grades) anywhere near ours has just been purchased by the largest producer of silver in America,” Khoncon said.

Expand Porter’s Resources

Both StrikePoint projects are located in a very good neighborhood, the Golden Triangle of British Columbia. The area has hosted more than 100 years of mining and is home to the highest mine ever found in North America, the past of Barrick Gold Corp. that produces Eskay Creek. Eskay produced 3.3 Moz of gold with an average grade of 45 g/t and 160 Moz of silver with an average grade of 2,220 g/t over 14 years.

Porter hosts two astrologers: Prosperity Porter Idaho and Silverado. The company plans to use the drilling results to extend the estimates of historical resources.

“We have this high-quality resource, we’ve built a program to try to test the limits of the resource,” said Khoncun. “Is it open in the depth? It is open along the strike? That is what we are trying to prove.”

According to the company, Project Porter has two silver-rich vein systems hosted by scissors. It is 2.35 km away on opposite sides of Mount Rainey, which overlooks the town of Stewart. The company wants to know if these veins are connected across the mountain and if a network of underground works on the mountain can be rehabilitated for use in further exploration and drilling.

Willoughby: “Where can we install a large mine?”

StrikePoint has acquired Willoughby, which is located about 6 kilometers east of Red Mountain by Ascot Resources Ltd. , in 2019 for $85,000. According to the company, 119 holes were drilled at Willoughby totaling 12,000 meters between 1989 and 1996. Excavations were also conducted underground.

The company found a new massive sulfide mineralization that was previously under ice in the rim region. Surface flake channel samples in 2021 returned 8.59 g/ton gold equivalent (AuEq) over 3 m, 4.74 g/ton gold equivalent (AuEq) over 7 m, and 3.48 g/ton gold equivalent (AuEq) over 7 m 18 meters high.

Source: StrikePoint Gold Inc.

Khoncon said StrikePoint is “swinging toward the fences” with its 1,400-meter drilling in six holes in the project. They plan to drill the northern and southern extensions of the 600 m direction of mineralization along Willoughby Nonatack and to drill for new mineralization to the west of the Nonatack direction.

“What we’re saying this year is, where can we put a big mine on this property?” He said. “There is a massive amount of sulphides, unlike anything we’ve seen in the Golden Triangle.”

Khoncon said much of the excavation at Willoughby is exploratory.

“We take some big risks, but in the game of exploration, big risks pay big rewards,” he said. “Our goal at Willoughby is to make a big new discovery.”

Some of the biggest players in the industry are StrikePoint shareholders, including Eric Sprott, who owns about 16.5%, and Skeena Resources, which owns 6%. Other institutions with positions include Denver-based Criscat Capital, Vancouver-based Delbrook Capital Advisors, and Calgary-based Middlefield Capital.

StrikePoint has a market capitalization of C$11.4 million with 207.35 million shares outstanding. It is trading in the 52-week range of C$0.20 and C$0.05.

Disclosures

1) Steve Sobek wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor/employee. He or his family members own the securities of the following companies mentioned in the article: None. He or his family members get paid by the following companies mentioned in this article: None.

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