SKP: TSXV STKXF: OTCQX
CALGARY, April 19, 2012 /CNW/ - StrikePoint Gold (TSXV:SKP) (OTCQX: STKXF) announces that it has acquired by staking a 100% interest in a large, 5468 hectare gold/copper exploration property located approximately 45 km west of Fredericton, New Brunswick. The Pokiok project includes 15 km linear trend along an altered fault zone between two types of granite located in the large Pokiok batholith. The Pokiok claims were staked on the basis of reconnaissance sampling, mapping and ground magnetic results within a 200 m interval of the fault trace. Numerous altered boulders of veined and brecciated fault associated rocks were examined and sampled. Geochemically high values of gold and copper were obtained together with anomalous values of other metals. The exploration target is very specific, 15 km in length and is anticipated to be several hundred metres wide over the entire trace of the Magaguadavic fault zone. The surface expression of this fault zone is characterized by large boulder fields of altered and brecciated rocks, topographic expressions and cliffs.
StrikePoint's initial reconnaissance exploration of the property, concentrating on a short 200 metre strip along the fault zone, consisted of a ground magnetic survey to establish the nature and predictability of the contact zone. Additionally, rock samples from large fault zone boulders were taken to validate the property for metallic minerals. Twenty seven reconnaissance rock samples contain sub-economic but anomalous concentrations of metallic minerals including gold, silver, copper, molybdenum, lead and zinc. Two samples returned elevated concentrations of antimony. The reconnaissance grab sample results obtained to date define the project as primarily a gold/copper prospect, based on the highest encountered gold value of 2.68 g/t and the highest encountered copper value of greater than 1%. It is to be noted that reconnaissance rock sample results are generalized indicators of mineralization and cannot be relied upon to predict economic concentrations of minerals. They can, however, provide the basis for conducting additional exploration operations.
Exploration operations will begin in May and will consist of additional reconnaissance sampling, trenching and drilling into the fault zone.
Maps and descriptive graphics of StrikePoint's Pokiok project are available at www.strikepointgold.com
All samples were processed by Activation Laboratories Ltd (Actlabs) using Fire Assay/AA, ICP and/or Total Digestion ICP, as appropriate.
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.
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