StrikePoint Gold Inc. (Canada: TSX.V:SKP) (US: OTC:STKXF) has entered into a definitive agreement with IDM Mining Ltd. to purchase a portfolio of 22 properties located in the Yukon. The properties were previously held by Ryan Gold Corp., who spent over $25 million on exploration between 2010 and 2014. The acquisition comes with an extensive database of soil and rock samples, geophysics, geological mapping and drilling results. Several properties are ‘drill ready’ targets, while the others are in advanced stages of exploration.
Yukon Portfolio Highlights:
- A large land package (282,000 hectares), comprising 14,031 claims in 22 properties.
- Ryan Gold spent $25m in exploration costs between 2010 and 2014 (from 2014 filings).
- Most of the early stage work has been completed: soil sampling, geological mapping, airborne geophysics etc.
- Three projects are at an advanced, drill ready stage, some with multiple targets on the same property.
- Remaining 19 properties all have potential to be developed further with minor amounts of additional work.
- Several of the primary targets have neighbouring projects with known resources.
- The highest priority targets are accessible, and often in unglaciated terrane, making exploration activities easier and cheaper.
- The Yukon Territory remains one of the most friendly mining jurisdictions in the world for mineral potential and investment attractiveness (Fraser Institute Annual Survey of Mining Companies, 2015)
The Yukon Territory: A Mining Friendly Jurisdiction
The Yukon Territory has long been a friendly jurisdiction for mining and exploration. Government schemes exist to enable exploration, namely the Yukon Mineral Exploration Program (YMEP), with grants up to $40,000 towards exploration costs available. Between 2010 and 2015, $5.5million was allocated in YMEP funding for ‘hard rock’ exploration. Yukon Geological Survey and the Energy, Mines and Resources Departments are great sources of information to aid in exploratory work. Local First Nations Bands are open to discussions regarding exploration work and many agreements for advanced projects have been successfully created. Transport network is well maintained and reliable, including airports and roads. Many suppliers and support industries exist in the Yukon; good for budget planning and turnaround.
This marks the beginning of a new era for StrikePoint Gold in Canada’s best mining jurisdiction. With this acquisition of 22 properties, StrikePoint is armed with an extensive database of rock and soil samples, geophysics, geological mapping and drilling results totalling more than $25 Million. We eagerly await the start of our 2017 exploration season and look forward to exploring our drill ready targets
Shawn Khunkhun, CEO of StrikePoint Gold