GUN Gunpoint Exploration Ltd

Gunpoint Exploration Ltd. (TSX VENTURE:GUN) ("Gunpoint") has commenced a 4,000
meter core drill program on its 100% owned Talapoosa gold-silver project in
Nevada. In 2010, Mine Development Associates of Reno, Nevada provided a NI
43-101 compliant Measured + Indicated Resource of 632,000 ounces of gold (0.84
g/tonne Au) and 8,226,000 ounces of silver (11.2 g/tonne Ag), and an Inferred
Resource of 326,000 ounces of gold (0.813 g/tonne Au) and 4,257,000 ounces of
silver (10.6 g/tonne Ag).


The 4,000 meter program will comprise 15 holes inclined, between 55 and 65
degrees, and configured in three section lines across the central part of the
Bear Creek resource area. The inclined holes are designed to better define the
broad steeply dipping epithermal vein structures, which Gunpoint interprets as
hosting the bulk of the existing resource at Talapoosa. Based on a recent
reinterpretation of the geology of the project, the Company believes that the
drill program will demonstrate the potential of an increased grade and size for
the existing resource.


During the past few months Gunpoint has re-logged 6,000 meters of diamond drill
core and reinterpreted 10,000 meters of RC drill logs in order to delineate
zones of higher-grade mineralization associated with epithermal quartz veining.
The recent work indicates that the epithermal gold mineralization at Talapoosa
is associated with three broad (+30 meter wide) steeply dipping zones of veining
and hydrothermal brecciation. These zones of steep dipping veining are
preferentially developed within a gently southward dipping welded tuff unit,
which is extensively stockworked, forming a broad lower-grade halo around the
individual vein zones.


The current drill program will also provide core for additional metallurgical
testing. Historical metallurgical test work on Talapoosa indicated comparatively
low recoveries relative to typical low-sulfidation epithermal vein systems. The
planned work will focus on characterizing the metallurgical nature of the higher
grade vein mineralization versus the surrounding lower-grade
stockwork/dissemination mineralization present throughout the welded tuff unit.
Management believes a more definitive characterization of the epithermal vein
mineralization could lead to improved overall recoveries through conventional
cyanidation.


The Talapoosa project comprises a 10,780 hectare claim package which includes
the Appaloosa structure a five kilometer long zone of high-level epithermal
alteration and mineralization, which has not been systematically explored to
date. The current drilling will result in a better understanding of the
structural controls of the existing resource which will be used to effectively
explore extensions to both the Talapoosa mineralization and the Appaloosa
structure.


Quality Assurance and Control 

This news release was prepared under the supervision of Dr. E. Max Baker, PhD, a
"qualified person" as that term is defined in NI 43-101.


For more information on Gunpoint and its Talapoosa Project, please visit our
website at http://www.gunpointexploration.com.


GUNPOINT EXPLORATION LTD.

E. Max Baker, President

Gunpoint Exploration (TSXV:GUN)
Historical Stock Chart
From Oct 2024 to Nov 2024

Gunpoint Exploration (TSXV:GUN)
Historical Stock Chart
From Nov 2023 to Nov 2024