First Results Received from 2020 Drilling Program
Highlights:
- GC20-01, first of 17 holes drilled in 2020, intercepted:
- 10.31 g/t Au across 1.6m of the Main Vein between 101.5 to 103.1m down the hole, (~90m from surface), containing four specks of visible gold and includes 21.70 g/t gold over 0.5m,
- Within a broader zone of lower-grade mineralized wall-rock yielding 2.47 g/t gold over 7.5m overall and,
- A second near-surface zone yielding 0.64 g/t Au over 18.0m of mineralized wall-rock between 21.0 to 39.0m down the hole including the higher-grade West Vein yielding 1.24 g/t Au across 4.2m.
Toronto, Ontario–(Newsfile Corp. – January 12, 2021) – Stratabound Minerals Corp. (TSXV: SB) (OTC Pink: SBMIF) (“Stratabound” or the “Company”) reports first assay results received from its Phase 2 diamond drilling program concluded late last fall at its flagship Golden Culvert Project in the southeastern Yukon Territory.
Drill hole GC20-01 intercepted 10.31 g/t gold over 1.6 metres between 101.5 to 103.1m down the hole at approximately 90 metres below surface. GC20-01 is a 75-metre step-out to the north of the previously northernmost drill hole GC18-06 which intercepted 1.14 g/t gold over 7.5m including 3.86 g/t gold across 1.5m of the Main Vein and 6.02 g/t gold over 4.5m including visible gold across the West Vein. It is also located approximately 45m north of surface trench TR1801 which yielded 1.49 g/t gold over 10.0m including 6.11 g/t gold across 1.5m of the Main Vein and 60m north of surface trench TR1902 which yielded 3.63 g/t gold over 9.0m including 19.15 g/t gold also across the Main Vein. As has occurred in every other mineralized intercept encountered, the high-grade quartz and breccia structures intercepted in GC20-01 are flanked by lower grade gold-mineralized wall-rock averaging 2.47 g/t gold over 7.5m inclusive across the Main Vein and 0.64 g/t gold over 18.0m inclusive across the West Vein structures (see Figure 1).
Mr. R. Kim Tyler, President and CEO of the Company commented, “The results of this first hole are consistent with past drilling and trenching results we have received to date and we are pleased to finally be able to report on them. It is an irony that the successful return of market interest and funding into the junior resource sector has created high demand and long delays in accredited assay labs. That being said, we anticipate receiving and reporting results on a timely basis going forward.”
These results for GC20-01 are the first of 17 holes drilled in the 2020 program including 6 holes testing the open-ended northern extension of gold mineralization and 3 holes testing the southern open-ended extension. Eight in-fill holes were also completed between previous drilling with the intent to conduct an initial NI 43-101 resource estimate anticipated later in 2021.
Eight diamond drill holes totaling 1,370 metres and 24 surface trenches reported in previous exploration programs have intersected and outlined a 970-metre-long by 130-metre-wide mineralized corridor containing multiple parallel gold-bearing structures.
Figure 1.
To view an enhanced version of Figure 1, please visit:
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Quality Assurance/Quality Control
The samples referenced in this press release were collected and hand-delivered by Stratabound personnel to the ALS Canada laboratory in Whitehorse, YT where they were crushed to 70% less than 2mm. A riffle split of 250 grams was then taken and pulverized to an 85% passing 75 microns pulp sub-sample. The pulps were then shipped by ALS Canada to its Vancouver laboratory for gold and multi-element analyses. The ME-AA26 gold assaying procedure used is a standard fire assay with AA finish technique on a 50-gram sub-sample taken from the 250-gram pulp split. Samples that exceeded the 100 g/t Au upper detection limit of this method were re-assayed by the Au-GRA22 Ore Grade procedure, with a 50-gram pulp fire assay and gravimetric finish.
The samples were also tested for 51 other elements using the ME-MS41 Ultra Trace Aqua Regia ICP-MS method. ALS uses a procedure of standards, blanks and duplicates inserted into the sample stream results for which all fell within satisfactory confidence limits. ALS is an independent internationally recognized and ISO/IEC 17025:2017 accredited chemical analysis company.
In addition to the quality assurance and quality control program performed by ALS, Stratabound personnel insert lab certified standards and field blanks into the sample stream at the rate of one QA/QC sample for every 20 samples and maintain a program of duplicate sampling.
About Stratabound Minerals Corp.
Stratabound Minerals Corp. is a fully-funded Canadian exploration and development company focused on gold exploration at its flagship Golden Culvert Project, Yukon Territory and its new McIntyre Brook Project, New Brunswick, Canada. The Company also holds a significant land position that hosts three base metals deposits in the Bathurst base metals camp of New Brunswick featuring the Captain Copper-Cobalt-Gold Deposit that hosts an NI 43-101 Measured and Indicated Resource.
Mr. R. Kim Tyler, P.Geo., President and CEO of Stratabound, and a “Qualified Person” for the purpose of NI 43-101, has reviewed and approved the contents of this news release.
For more information please visit the company’s website at www.stratabound.ca or contact: R. Kim Tyler, President and CEO 416-915-4157 [email protected].
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
WARNING: The Company relies upon litigation protection for “forward-looking” statements. The information in this release may contain forward-looking information under applicable securities laws. This forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those implied by the forward-looking information. Factors that may cause actual results to vary materially include, but are not limited to, inaccurate assumptions concerning the exploration for and development of mineral deposits, currency fluctuations, unanticipated operational or technical difficulties, changes in laws or regulations, failure to obtain regulatory, exchange or shareholder approval, the risks of obtaining necessary licenses and permits, changes in general economic conditions or conditions in the financial markets and the inability to raise additional financing. Readers are cautioned not to place undue reliance on this forward-looking information. The Company does not assume the obligation to revise or update this forward-looking information after the date of this release or to revise such information to reflect the occurrence of future unanticipated events, except as may be required under applicable securities laws.
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