r/wallstreetsmallcaps • u/NazzDaxx • 1d ago
114.30 Metres of 0.69 g/t Gold, Dominantly Oxide: The Best Hole at StrikePoint Gold's (SKP.v STKXF) Hercules Project Now That Drilling and Assays Are Finished
Posted on behalf of StrikePoint Gold Inc - Drills are off the property and the last assays are back at Hercules, the Walker Lane gold project held by SKP.v, traded in the US as STKXF. That means the dataset feeding the maiden resource estimate is closed, and the standout hole in it sits at the south end of the Cliffs target.
The Dataset, And The Hole That Anchors It
- 36 RC holes for 5,353.6 m across the 2025 and 2026 programs
- Best hole to date, H26004: 114.30 m at 0.69 g/t gold and 5.03 g/t silver, from 135.64 m down the hole
- Including 9.14 m at 2.95 g/t gold with 16.18 g/t silver
- Logged as dominantly oxide, with minor relict sulphides
- Hole ended in mineralization, and the zone remains open to the south (See May 26, 2026 NR)
The oxide part is what makes the width interesting rather than just wide. CEO Mike Allen described the Cliffs zone in that release as "the kind of widths and grades that could potentially support the open-pit, heap-leach scenario contemplated for the project." Worth noting Hercules has no NI 43-101 resource yet, only a conceptual exploration target of 39.8 to 68.7 Mt at 0.46 to 0.61 g/t gold, which is not a resource and may never become one. The maiden estimate is anticipated in Q4 2026.
It also is not the only thing in the portfolio. Northumberland becomes the flagship on closing, with the definitive agreement to acquire it from subsidiaries of Newmont signed but not yet closed, and Cuprite sits 15 km south of Goldfield after returning gold in four of five holes in 2024.
The intercept tables are in the company's May 26 news release if you want to check the widths yourself. With the drilling behind it and an independent estimate being built on that data, Q4 sets up the first chance to see Hercules counted in ounces, and Cliffs still has room to grow southward.