VANCOUVER, British Columbia, April 18, 2022 (GLOBE NEWSWIRE) — Stratabound Minerals Corp. (TSXV:SB) (OTCQB:SBMIF) has acquired an additional 19 claims covering an area of 59.56 square kilometres or 5,956 hectares of prospective ground in northern New Brunswick. The newly acquired property is adjacent to Stratabound’s McIntyre Brook Gold Project and Puma Exploration’s Williams Brook high-grade gold project in an emerging new Maritime gold district, with geological comparisons to New Found Gold’s Queensway Project in eastern Newfoundland.
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The new acquisitions more than double the company’s land position to 119.6 square kilometres and complete the consolidation of the entire 17 km of prospective ground between Puma Exploration’s Williams Brook to the west and Portage Brook/Jonpol gold properties to the east. Dubbed the “Triple Fault Gold Belt”, the entire 37 kilometre “Belt” features numerous new high-grade gold showings including Puma’s O’Neil and Lynx gold zones with trench and outcrop values up to 371 g/t gold, 128 g/t gold; and drill results up to 5.50 g/t gold over 50.15 metres recently reported in Puma’s first ever drill program.
Stratabound’s McIntyre Zone at the centre of the Belt features 40 grab sample values between 0.20 and 41.56 g/t gold collected from bedrock exposed in trenches along 300 metres of strike length.
Gold mineralization in the Triple Fault Gold Belt is of the orogenic type hosted in quartz veins and breccia at contacts between harder rhyolite units and softer sediment hosted units aligned along regional-scale faults such as the Rocky Brook, McIntyre Brook and Ramsay Brook faults that cut through the Belt.
Numerous mapped rhyolite units occurring on the Stratabound ground adjacent to these regional-scale faults remain unexplored for gold and will be the target for upcoming exploration work planned this season.
Canadian Metals Inc., reported a new discovery of 30 grab samples up to 455.0 g/t Au, 85.6 g/t Au 76.9 g/t Au, 63.6 g/t Au, 36.9 g/t Au, 15.4 g/t Au, 14.8 g/t Au at its new LG Discovery Zone on its Goldstrike Property. The LG zone occurs on a splay about 45 km east of and off the same Rocky Brook Fault that transects the Triple Fault Belt. Canadian Metals reports that the gold is hosted mostly in the sediment/rhyolite contact as occurs most elsewhere in the Belt.
R. Kim Tyler, President and CEO, stated:
“Northern New Brunswick is experiencing a rapid increase in new high-grade gold discoveries as more scrutiny and effort are applied in looking for them. We believe we are in the early days of discovering the next exciting Maritime gold district following the same intercontinental geological environment as occurs in Newfoundland, Nova Scotia and Dalradian Gold’s high-grade Curraghinalt gold mine in Ireland.”
Stratabound is developing its advanced-stage flagship Fremont Gold Project in the Mother Lode Gold Belt of California. Fremont also hosts three undeveloped gold occurrences across four kilometres of strike along the prolific Mother Lode Gold Belt.
The company is also advancing its Golden Culvert property, located approximately 20 kilometres northeast of Seabridge Gold’s 3 Aces and Aben Resources’ Justin high grade gold projects in the southeast Yukon Territory.
The company holds two other projects both of which feature NI 43-101 Mineral Resource Estimates.
These include the Dingman Gold Deposit, Ontario and a significant land position in the Bathurst camp of New Brunswick, including the Captain Cobalt-Copper-Gold Deposit.
The shares are trading at $0.09. For more information, please visit the company’s website at www.stratabound.ca contact R. Kim Tyler, President and CEO, at 416-915-4157 or email [email protected].
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