A total of 86 rock samples were collected from surface and 14 from underground workings on the newly acquired veins, located 700 m along strike to the west of the main underground workings on the historical
The new claims mostly cover an area with low topographic relief, where hummocks that host the vein exposures are surrounded by extensive alluvial cover. Six well-mineralized vein zones were identified on the claims. Veins and faults follow two sub-parallel orientations, which are found throughout the property. These have similar strikes but differ in their apparent dip. Higher-grade mineralization tends to be located at or near the convergences of structures with different orientations. These structural junctions are considered high-priority exploration targets.
Seven adits or shafts were identified during the recent program, and preliminary surveying and reconnaissance sampling were completed in four of these underground workings. The largest of these workings, the
The veins at Gold Point are responding well to modern exploration and, where explored to date, show excellent lateral and vertical continuity. Higher grade ore shoots that were stoped by historical miners are flanked by lower-grade mineralization that needs to be systematically evaluated. Limited drilling has discovered areas of high-grade mineralization that lie along strike of the underground workings and has shown that the mineralized structures are often much wider than the historical drifts and stopes.
An Induced Polarization survey was completed in
The survey comprised nine lines, spaced 300 m apart, totaling approximately 50 line-km. It was centered over abundant stockwork veining and silica alteration identified by recent mapping at Le Champ. This alteration is believed to mark the upper levels of a buried porphyry system. The strongly elevated molybdenum values and more subdued, but still noteworthy, copper results are consistent with a leached system, and suggest that stronger mineralization could be found at depth.
Geological mapping at Le Champ identified six separate intrusive phases within the
Large magmatic breccias containing goethite altered cubes and clots, often over 2 cm across, were identified on the north side of the target area near historical workings containing copper mineralization. A float sample comprising limonite clots collected from the breccia returned 6.29% copper and 203 g/t silver. The exact timing of the brecciation is not yet known but is thought to be a late event as it includes clasts of mafic dykes which are seen elsewhere on surface cutting the other intrusive phases.
About Gold Point
About
GGL is a seasoned, Canadian-based junior exploration company, focused on the exploration and advancement of under evaluated mineral assets in politically stable, mining friendly jurisdictions. The Company has optioned and wholly owned claims in the Gold Point district of the prolific Walker Lane Trend,
Contact:
Tel: (604) 687-2522
Email: rdrechsler@strategicmetalsltd.com
Information contained in this news release contains forward-looking statements. These statements reflect management's current estimates, beliefs, intentions and expectations; they are not guarantees of future performance. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words 'evaluate', 'potential', 'likely', 'possible', 'cut-off grades' 'noteworthy', 'consistent', 'suggest', 'delineate', 'closely resembles' and similar expressions, or that events or conditions 'may', 'could' or 'will' occur. GGL cautions that all forward-looking statements are inherently uncertain, and that actual performance may be affected by a number of material factors, many of which are beyond the control of GGL. Such factors include, among other things: risks and uncertainties relating to exploration and development and the results thereof, including the results of the recently completed drill program, the impact on future mineral resource estimates, the potential for new discoveries, and the results of future metallurgical programs, as well as the ability of GGL to obtain additional financing, the need to comply with environmental and governmental regulations, fluctuations in the prices of commodities, operating hazards and risks, competition and other risks and uncertainties, including those described in GGL's financial statements available under the GGL profile at www.sedarplus.ca. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, GGL undertakes no obligation to publicly update or revise forward-looking information.
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