SKP: TSXV STKXF: OTCQX
CALGARY, Oct. 9, 2012 /CNW/ - StrikePoint Gold (TSXV:SKP) (OTCQX: STKXF) announces that it has received the results of all of the drill core samples from the initial drill program on the Pokiok Batholith Project in New Brunswick. Most of the core samples, measuring between 1 metre and 1.5 metres in length, show geochemical variations in several metals but only a few samples contain low multi-gram levels of gold and none of the 524 core samples sent for analysis contain economic levels of mineralization.
Five holes were drilled in a concentrated area near the Magaguadavic Fault and the sixth hole was drilled across the Magaguadavic Fault approximately 1.7 km to the north, for a total program of 1764 metres. The Pokiok Batholith Project was described most recently in our press releases of August 17th, July 24th and April 19th, 2012.
The source of the mineralized boulders sampled on surface may not have been intersected in the drilling of the first cluster of five drill holes in the program. Additional work on the Pokiok Batholith Project will include detailed prospecting, geological mapping and rock sampling along the rest of the Magaguadavic Fault that strikes north in this area.
The Pokiok Batholith Project is located 48 kilometres west of Fredericton and is composed of 244 claims that cover an area of 5468 hectares. Six other claims on the project have been optioned from a local prospector.
The project is at the faulted contact between the Hawkshaw granite to the east and the Allandale granite to the west, both of Devonian age. StrikePoint controls over 15 km of the Magaguadavic Fault Zone that is characterized by boulders of quartz that are mineralized with gold and that have been identified to date in mapping and trenching programs along a small section of the fault.
Richard Boulay, Chairman, stated that "The initial drill program results at Pokiok are disappointing in terms of locating the source of the many mineralized boulders found at surface. We have however established that the fault zone is a very thick silicified structure. Over 14 km of fault strike length remains to be explored."
All samples were analyzed by Activation Laboratories Ltd (Actlabs) using Fire Assay/AA and aqua regia digestion/ICP, as appropriate. Assay results were verified by a program of quality assurance and quality control using blanks, doubles and assay standards.
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, Chairman, 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.
SOURCE: StrikePoint Gold Inc.
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