Nov. 6, 2009 (Business Wire) -- Standard & Poor’s announced today that it has commenced Factual Stock Report coverage on StrikePoint Gold Inc.
StrikePoint Gold Inc. (TSX:SKP), in the exploration stage as of June 30, 2009, engages in the acquisition, exploration, and development of mineral properties in Canada. It principally explores for gold in Manitoba. StrikePoint Gold owns or controls over 31,000 hectares in the Rice Lake Gold Belt of southeastern Manitoba, Canada.
On September 17, 2009, StrikePoint Gold entered into an option agreement with San Gold Corporation to explore the company's Strike Point property adjacent to the San Gold mine lease. StrikePoint Gold and San Gold have jointly flown a large scale LiDAR (Light Detection and Ranging) survey of their properties in the Rice Lake Belt and are using the LiDAR structural indicators to target exploration and drilling targets along the belt.
Under the agreement, San Gold can earn a 50% undivided interest in the Strike Point property. StrikePoint Gold will be the operator of the project subject to a standard joint venture operating committee structure.
The Strike Point property consists of 26 claims covering 3,595 hectares adjacent to the northwestern boundary of San Gold's Rice Lake gold mine and mill property at Bissett, Manitoba. During 2008, StrikePoint Gold conducted mapping and prospecting activities on the Strike Point property and added six more claims to the original 20 claims to cover new showings to the north.
According to the company, its agreement with San Gold consolidates the Central Rice Lake Belt structural domain that has hosted over 95% of the Rice Lake Belt's recent and historic gold production.
As of September 2009, StrikePoint Gold had one of its geological teams dedicated to the Strike Point property. San Gold and StrikePoint Gold planned to convene a technical committee to establish a systematic exploration protocol for the Strike Point property.
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This Standard & Poor’s service provides factual research coverage enabling information about StrikePoint Gold Inc. and other securities to reach a wide investor audience of Buy and Sell-side investors, helping them understand a company’s fundamentals and business prospects. Currently profiling over 800 issuers, S&P Factual Stock Reports increase market awareness for issuers in the investment community with insightful commentary and key statistics/information. Updated weekly with the latest pricing, trading volume, and other data, the reports include recent developments, a financial review, key operating information, Industry and peer comparisons, institutional holdings analysis, Street Consensus and opinions, performance charts, business summary, fundamental data, and news. Because coverage of these reports is sponsored by the issuer, S&P does not offer investment opinions concerning the advisability of investing in these stocks.
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Note: All U.S. and Canadian Companies listed on a National Exchange (not covered by S&P’s STARS research) are eligible to obtain this coverage.
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