In This Article:
Vancouver, British Columbia--(Newsfile Corp. - September 3, 2024) - StrikePoint Gold Inc. (TSXV: SKP) (OTCQB: STKXF) ("StrikePoint" or the "Company") is pleased to announce that it has acquired the Hercules Gold Project by way of the acquisition agreement signed August 30, 2024 of all of the issued and outstanding common shares of Alcmene Mining Inc., a wholly-owned subsidiary of Elevation Gold Mining Corporation in consideration for $250,000, plus a re-imbursement of reasonable legal expenses. The transaction was arms length, and no finder's fees were paid.
"This acquisition represents our second district scale land package in the Walker Lane," said CEO Michael G. Allen. "Multiple operators have drilled showings across a property and encountered significant mineralization, giving the possibility of a generational mine being discovered on the property."
The Hercules Gold Project consists of 1,323 unpatented mining claims and four patented mining claims covering approximately 100 square kilometers of prospective Walker Lane geology located approximately one hour from Reno, Nevada. The property is just 20 kilometers East of the Comstock Gold Mine where historically 14 million gold ounces have been recovered(Wikipedia).
Figure 1: Hercules Project Location Map
To view an enhanced version of this graphic, please visit:
https:/https://finance.yahoo.com/images.newsfilecorp.com/files/5044/221915_942f5e91e4cd1a71_002full.jpg
Hercules Gold Project Highlights:
The Hercules Gold Project is a low sulphidation epithermal gold target. Potentially economically significant gold grades/thicknesses have been drilled by multiple operators over a large area suggesting a strong gold mineralizing system. Drilling has largely been focussed on the northern portion of the property focussed on 5 target areas, Hercules, Cliffs, Loaves, Northeast and Rattlesnakes. The property has a Plan of Operations drill permit in place on the northern portion of the property, and two Notice of Intent drill permits on the southern portion of the property. Historically, ownership of the property was divided between multiple operators, hindering exploration. StrikePoint Gold will be able to explore the property without boundary constraints.
Figure 2: Hercules Gold Project Select Drillholes
To view an enhanced version of this graphic, please visit:
https:/https://finance.yahoo.com/images.newsfilecorp.com/files/5044/221915_942f5e91e4cd1a71_003full.jpg
Table 1, Highlight Drill Intervals
| Eclipse Gold, Hercules Gold Project, Nevada, Drill Highlights | |||||||
| Hole ID | Target | From (m) | To (m) | Length | Au g/t | Ag g/t | Date of Release |
| H20010 | Hercules | 27.43 | 117.35 | 89.92 | 0.65 | 12.51 | 6/10/2020 |
| including | Hercules | 51.82 | 82.30 | 30.48 | 1.10 | 26.17 | 6/10/2020 |
| H20031 | Hercules | 0.00 | 30.48 | 30.48 | 1.63 | 18.27 | 3/22/2021 |
| including | Hercules | 6.10 | 9.14 | 3.05 | 5.55 | 47.9 | 3/22/2021 |
| H20040* | Cliffs | 184.40 | 224.03 | 39.62 | 1.12 | 5.38 | 3/22/2021 |
| including | Cliffs | 185.93 | 192.02 | 6.1 | 5.04 | 14.93 | 3/22/2021 |
| H20002 | Northeast | 1.52 | 47.24 | 45.72 | 0.33 | 1.87 | 6/10/2020 |
| H20003 | Loaves | 71.63 | 85.34 | 13.72 | 0.40 | 6.01 | 6/10/2020 |
| H20006 | Rattlesnakes | 15.24 | 38.10 | 22.86 | 0.32 | 1.93 | 6/10/2020 |