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Drilling on Exploration Target 819,000 to 1,019,000 oz Au Exploration Target grading between 0.48 g/t Au and 0.63 g/t Au in 40,300,000 to 65,500,000 tonnes
Strikepoint Gold Inc. (TSXV: SKP,OTC:STKXF) (OTCQB: STKXF) ("StrikePoint" or the "Company") is pleased to announce that it has commenced work on its initial 2026 drill program on the Hercules Gold Project ("Hercules"), located in Nevada's Walker Lane.
The drill program is expected to include approximately 30 reverse circulation holes totaling an estimated 3,650 meters. The goal of the program is to provide sufficient data for a maiden resource estimate, anticipated to be delivered in Q3 2026.
Michael G. Allen, President and CEO of StrikePoint said, "We acquired the Hercules Gold Project in August 2024 for CAD $250,000, and immediately demonstrated its sizable potential following the completion of our inaugural National Instrument 43-101 Exploration Target. As we launch on this drill program, we have the confidence of a strong, predictive geological model of controls on mineralization. With a relatively modest drill program we will have the data to complete our maiden resource estimate. In addition, we've also recently, consolidated the southern portion of the property, giving us control over the past producing Como District, allowing for further expansion of our exploration efforts among several promising high-priority targets."
The program is expected to last approximately 45 days. Initial drill results are expected to be available in April 2026.
Figure 1: Proposed Hercules Gold Project Drillholes over Modelled Exploration Target
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Figure 2: Hercules Target Proposed Drilling vs. 2025 holes
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Following the completion of this initial 2026 drilling, the Company intends to modify its existing drill permits to incorporate the newly acquired Como District.
As announced on February 18, 2026 the Company consolidated the Como District and three past producers in the southern portion of Hercules. The acquisition consisted of 51 unpatented claims located in the past producing Como District. Historic surface sampling has returned gold ("Au") values of up to 166.62 grams per tonne ("g/t") Au (4.86 ounces per ton), and silver ("Ag") values of up to 109.72 g/t Ag. In an historical surface sample database acquired by the Company a total of 623 samples covering the Como District and surrounding area currently controlled by Strikepoint, were collected, of the 623 surface samples, 93 returned grades greater than 1.00 g/t Au.
Figure 3. Hercules Property With Como Trend and Hercules Target
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Qualified Person Statement
All technical data and scientific data, as disclosed in this press release, has been reviewed and approved by Michael G. Allen, P. Geo, President and CEO of the Company. Mr. Allen is a qualified person as defined under the terms of National Instrument 43-101.
About StrikePoint
Headed by CEO Michael G. Allen, StrikePoint is a multi-asset gold exploration company focused on building precious metals resources in the Western United States and in Canada.
StrikePoint is rapidly becoming one of its largest holders of mineral claims with approximately 145 square kilometers of prospective geology under claim, encompassing two district scale projects, the Hercules Gold Project and the Cuprite Gold Project.
The Hercules Gold Project features an Exploration Target, as defined by NI 43-101, as follows:
Hercules Gold Project Exploration Target Model *
| Exploration Target | |
| Tonnage Range (tonnes) | Grade Range (g/t) Au |
| 40,300,000 - 65,600,000 | 0.48 - 0.63 |
* The stated potential quantity and grade is conceptual in nature, and there has not been sufficient exploration to define a mineral resource, and it is uncertain if further exploration will result in the target being delineated as a mineral resource. The Exploration Target Model has not been evaluated for reasonable prospects of eventual economic extraction. The Exploration Target expressed should not be misrepresented or misconstrued as an estimate of a mineral resource or mineral reserve.
The mineralization is near surface giving the potential of an open pit, heap leach (oxide) operation.
In addition to the drill-tested targets in the northern part of the property there are over 40 undrilled targets on the property, some of which also include visible gold at surface.
For further information on the Exploration Target, please refer to the Company's March 3, 2025 news release. The technical report describing the Exploration Target and the Hercules Gold Project can be found on the Company's website.
Mr. Allen has been working in the Walker Lane for the last 15 years, with multiple transactions completed in that timeframe including the acquisition of the Sterling Gold Project, located near Beatty, Nevada, and the sale of Northern Empire Resources Corp. to Coeur Mining, Inc. for approximately C$120 million. The Sterling Gold Project is now part of AngloGold Ashanti plc's Arthur Gold project.
The Management and Board of StrikePoint has strong expertise in exploration, finance and engineering.
About Nevada
Nevada is one of the most globally recognized mining jurisdictions in the world, with over 218 Moz Au produced to date. Multiple operators in the state, including Nevada Gold Mines (Barrick/Newmont), Kinross, SSR Mining, McEwan Mining, and Integra Resources. Many of the operations are open pit, heap leach operations, operating at similar grades to the Exploration Target defined on the Hercules Gold Project.
ON BEHALF OF THE BOARD OF DIRECTORS OF Strikepoint Gold Inc.
"Michael G. Allen"
Michael G. Allen
President, Chief Executive Officer & Director
For more information, please contact:
Strikepoint Gold Inc.
Knox Henderson, Head of Investor Relations
T: (604) 551-2360
E: kh@strikepointgold.com
W: www.strikepointgold.com
Cautionary Statement on Forward-Looking Information
Certain statements made and information contained herein may constitute "forward-looking information" and "forward-looking statements" within the meaning of applicable Canadian and United States securities legislation. These statements and information are based on facts currently available to the Company and there is no assurance that actual results will meet management's expectations. Forward-looking statements and information may be identified by such terms as "anticipates", "believes", "targets", "estimates", "plans", "expects", "may", "will", "speculates", "could" or "would".
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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/285396
