Manitoba

StrikePoint holds over 19,100 hectares of prospective gold exploration properties in Southeast Manitoba in the Rice Lake Greenstone Belt.

Nova Scotia

The Company holds an interest in more than 4450 hectares of gold exploration properties plus a mill and mine complex under a JV agreement with Ressources Appalaches in an area located 110 km northeast of Halifax in the Meguma Terrane.

Manitoba

The Rice Lake Gold Project contains properties that are located to the west and east of Rice Lake. The properties in the Rice Lake Project include the Goldridge/Ultra, Contact, and Strike Point properties to the west of Rice Lake and the Angelina, Beresford and Gem properties to the east. The total area held by StrikePoint is 19,100 ha.

The western properties are strategically positioned or adjacent to the properties held by San Gold Corporation that owns the Rice Lake Mine and other deposits including the SG1 and the Cartwright deposits as well as the Cohiba, 007 and Hinge Gold Zones that are hosted in part by units of the Townsite section including the Shoreline Basalt and Mine Diabase and Gabbro.

The eastern properties are near to or contain historic mineralized gold showings and are located southeast of the Ross River Pluton but still within the Bidou assemblage that contains the same sequence of rock types as those of the Rice Lake area including gabbro.

Except for the Strike Point property all of the properties are held 100% by StrikePoint. The Strike Point property is under option to San Gold Corporation which is required to spend at least another $1.1 million by 2013 to earn an interest of 50% in the project. To the end of Q1 2011 a total of $1.5 million has been spent on exploration in this project area.

Nova Scotia

The Nova Scotia Project is composed of several properties located within a radius of about 14 km and centred in an area 110 km northeast of Halifax. The mineralization occurs in turbidite-hosted gold deposits where gold has been concentrated with quartz along the fold axis and limbs of steeply-dipping anticlines in turbidite. The Nova Scotia Project contains five exploration properties: Sheet Harbour, Dufferin, Chocolate Lake, Miller Lake and Ecum Secum properties that cover a total of 4450 hectares.

The Nova Scotia Project is a joint venture with Ressources Appalaches whereby StrikePoint can earn a 50% interest in the mine, mill and exploration properties with cash payments remaining of $900,000 in October 2012 and exploration spending of $1,400,000 by June 2013.

On the Dufferin property two principal fold axes include the Salmon River and the Crown Reserve anticlines. The Dufferin Mine located on the Crown Reserve Anticline of this property has seen historic production and is in a geological environment that is identical to the Bendigo area in Australia where 22 million ounces have been produced to date from Australia's second largest gold deposit.

The Dufferin Property also includes a 300 tpd mill and an underground mine which has at least 1100 metres of ramp and stope development. The mine is currently under care and maintenance and is flooded at this time.

With the help of the LiDAR survey flown in 2010 anticlinal structures have been identified on the other properties of the Nova Scotia Project and these areas will be explored in greater detail as part of our exploration programs in the area.




 

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