StrikePoint Approves Winter IP Program at Angelina Following Drill Program Results

SKP: TSXV    STKXF: OTCQX

CALGARY, Nov. 29, 2011 /CNW/ - StrikePoint Gold (TSXV:SKP) (OTCQX: STKXF) announces the results of an 8 hole reconnaissance diamond drill program on the Angelina property that was carried out in September and October. A total of eight drill holes were completed from two set-ups about 80 m apart on the Halfway Lake area for a total of 595 m.

The targets were two gold-bearing quartz veins and shear zones characterized by high grade surface grab samples described in our press release of June 23, 2011

The drill program intercepted a gold system but did not encounter any economic concentrations. Of the 452 core samples submitted for analysis, 11 samples reported more than 100 ppb Au, the highest of which is 2960 ppb Au (2.96 g/t). The highest grade encountered was 3.17 g/t in a metallic screen analysis. The following tables summarize the more significant drill core sample laboratory results.

   
Angelina Project - Significant assays   
DDH From (m) To (m) Interval (m) Au (ppb)
11AG-03 17.70 m 18.00 m 0.30 m    910
11AG-04 17.24 m 18.16 m 0.92 m    2960
11AG-04 45.81 m 46.44 m 0.63 m    150
11AG-05 21.10 m 21.53 m 0.43 m    180
11AG-05 42.00 m 42.50 m 0.50 m    320
11AG-05 44.86 m 45.78 m 0.92 m    2450
11AG-06 34.00 m 34.40 m 0.40 m    120
11AG-06 78.73 m 79.50 m 0.77 m    320
11AG-06 79.50 m 80.18 m 0.68 m    120
11AG-08 10.00 m 11.26 m 1.26 m    120
11AG-08 44.84 m 45.50 m 0.66 m    120
   
Angelina Project - Screen metallic check assays*  
Sample Original Au (g/t) Total Au (g/t) Au (g/t) +150 Au (g/t) -150
469836 0.15 0.12 0.09 0.12
469887 0.32 0.82 2.78 0.74
469892 2.45 3.17 1.1 3.24
*only samples returning >100 ppb Au are shown

In light of the anomalous gold values intersected in the core, additional work is warranted to determine the full potential of the quartz vein structure at the Halfway Lake area. All sequences are folded in a Z-shaped structure along an axis that strikes northwest with an apparent dextral offset. Gold and silver mineralization is associated with quartz veins that contain pyrite and chalcopyrite in structures that strike southeast, south-southwest and southwest and dip steeply to the east. The veins are 2-10 m in width and are located at the contact between the magnetic gabbro to the east and the andesite and chert-siltstone to the west.

Due to the close association between disseminated sulphides and the gold, and because of its link with the quartz veining an IP and resistivity survey is being planned to determine the depth and length of the shear zone that is associated with the mineralization. This survey is scheduled to be carried out in January, 2012.

A map showing the geology of the Halfway Lake zone at the Angelina property, together with the locations of the drill holes described above is available at: www.strikepointgold.com

All sample analytical results contained in this press release, including standard and quality control samples were analyzed for gold by fire assay and/or multi-element ICP-MS analysis, as appropriate, by TSL Laboratories Inc, Saskatoon, SK.

Kristopher J. Raffle, P. Geol., APEX Geoscience Ltd. is a qualified person as defined by National Instrument 43-101 and is responsible for the preparation and approval of the technical information disclosed in this news release.

This press release has been reviewed by Daniel A. Beauchamp, B.Sc., P.Geol., StrikePoint Gold's Qualified Person under National Instrument 43-101.

Richard A. Boulay, CEO
On behalf of the Board of Directors.

Neither 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.

This news release contains forward-looking statements relating to the future operations of the Corporation and other statements that are not historical facts. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Such forward-looking statements are subject to important risks, uncertainties and assumptions. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of StrikePoint. As a result, we cannot guarantee that any forward-looking statement will materialize and the reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release, and StrikePoint does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by Canadian securities law.


 

PDF with caption: "StrikePoint Gold Inc. - 2011 Diamond Drilling Grab Sample Assays Ground Magnetic Survey - Angelina Project, Manitoba". PDF available at: http://stream1.newswire.ca/media/2011/11/29/20111129_C2142_DOC_EN_7602.pdf

SOURCE StrikePoint Gold Inc.

For further information:

Investor Relations Toll Free: 1(877)317-1660
info@strikepointgold.com

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