Strikepoint Gold (TSXV:SKP)
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CALGARY, July 7, 2011 /CNW/ --
SKP: TSXV STKXF: OTCQX
CALGARY, July 7, 2011 /CNW/ - StrikePoint Gold (TSXV: SKP) (OTCQX:
STKXF) announces that it has scheduled a summer drill program to
commence within two weeks on its 100% owned Angelina gold property
located at the south-eastern end of the Rice Lake gold belt in
Manitoba. Two crews are currently active on the property, conducting
ground magnetic surveys and performing detailed mapping and drill site
selection.
The area to be drilled, near Halfway Lake at the south end of the
Angelina property was scheduled to be drilled last winter. However,
unfavourable winter conditions did not allow for heavy equipment to be
transported into the drill areas. Drilling was re-scheduled for the
2011-2012 winter season. Recently, the assessment of geological and
surface grab sample analytical information, combined with geophysical
data collected during the past three weeks has resulted in this area
being elevated to a priority that justifies the cost associated with a
summer helicopter and float plane supported drill program. A helicopter
portable drill has been located and will be airlifted in to a
structurally interesting target area where gold and silver bearing grab
samples were collected during 2010 as described in our recent Press
Release of June 23, 2011.
At the Angelina property which is virtually unexplored due to difficult
surface access, the results of the first 2011 ground geophysical survey
and new geologic mapping indicate that gold mineralization at the Hot
Zone is hosted within a magnetic gabbro unit that intrudes cherty
siltstone meta-sedimentary rocks to the west. The geophysical survey
has traced the magnetic gabbro unit over a 1,300 metre northeast
trending strike length referred to as the Halfway Lake Trend. Geologic
mapping and sampling crews are now focusing their efforts along this
trend in an effort to identity additional zones of mineralization and
structural complexity and to define specific drill targets, initially
within a 400 metre interval, informally referred to as the "Hot Zone".
The Angelina property's potential to host gold targets is not restricted
to the Halfway Lake Trend or the contained 400 metre Hot Zone that will
be explored during the first phase of the 2011 summer drill program. It
must be viewed in the context of our 2010 and 2011 field work to date
and a 2004 airborne electro-magnetic and magnetic geophysical survey
flown over the Angelina Project claims by a previous owner of the
property. This data clearly shows two additional northeast trending
belts of magnetic gabbro and/or pyroxenite rocks that occur at
distances of 500 and 1,000 metres to the west. Ground geophysical crews
have now commenced magnetic surveying on the approximately 45
line-kilometre Port Lake grid which covers these two new anomalies.
Maps showing the simplified geology, geophysics and sample locations of
the Angelina property discussed in this press release are available at:
www.strikepointgold.com
It is important to note that surface grab samples which may carry high
gold and silver values are selective and preliminary. Grab samples
results cannot be relied upon to estimate the mineral potential of an
exploration property. All sample analytical results contained in this
press release and associated graphics, 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.
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.
To view this news release in HTML formatting, please use the following URL: http://www.newswire.ca/en/releases/archive/July2011/07/c3907.html
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