Highlights:
- Drilling extended 200 meters beyond the 430 meters of strike drilled previously
- Four parallel gold-mineralized zones intercepted in the northern portion of a +30-ppb gold-in-soil anomaly featuring:
- High grade mineralized quartz vein and breccia core structures yielding up to 4.83 g/t gold across 1.5m down the hole,
- Broad zones of lower-grade mineralized wall-rock yielding up to 0.30 g/t gold over 24.5m flanking and inclusive of the higher-grade core structures.
Toronto, Ontario–(Newsfile Corp. – February 2, 2021) – Stratabound Minerals Corp. (TSXV: SB) (OTC Pink: SBMIF) (“Stratabound” or the “Company”) reports it has received complete assay results for the first six of seventeen drill holes completed on the Phase 2 diamond drilling program concluded late last fall at its flagship Golden Culvert Project in the southeastern Yukon Territory.
Four of the five holes in this release, GC20-02, GC20-03, GC20-05 and GC20-06 were drilled to extend 200m to the northwest beyond the 430 metres of strike drilled previously while GC20-04 was drilled to extend a further 170 metres to the southeast. All holes intersected gold mineralization hosted in multiple quartz vein and breccia structures as presented in Figure 1 and detailed in Table 1 below.
Mr. R. Kim Tyler, President and CEO of the Company commented, “These early drill results occur at the extremities of the higher-grade central mineralized area we have focussed on to date and as such underlie the weakest portions of the +30ppb gold-in-soil anomaly. We are encouraged that significant gold mineralization occurs both within and without the anomaly outlines at these locations and remains open beyond and to depth. We look forward to the receiving the remaining drill results designed to infill between past drilling and trenching.”
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:
https://orders.newsfilecorp.com/files/4064/73392_da80a64dd4336b01_002full.jpg
| Diamond Drill Hole |
UTM NAD 83 Northing |
UTM NAD 83 Easting |
Azimuth | Dip | From: (m) |
To: (m) |
Down-hole Length: |
Au g/t: |
| GC20-01 | 6868859 | 531038 | 51 | -45 | 21.0 | 39.0 | 18.0 | 0.64 |
| includes: | 29.0 | 33.2 | 4.2 | 1.24 | ||||
| and | 98.0 | 105.5 | 7.5 | 2.47 | ||||
| includes: | 101.5 | 103.1 | 1.6 | 10.31 | ||||
| GC20-02 | 6868745 | 531077 | 40 | -45 | 49.5 | 74.0 | 24.5 | 0.30 |
| includes: | 55.4 | 57.6 | 2.2 | 1.15 | ||||
| and | 165.0 | 175.5 | 10.5 | 0.36 | ||||
| and | 251.6 | 255.0 | 3.4 | 0.66 | ||||
| and | 292.5 | 294.0 | 1.5 | 4.83 | ||||
| GC20-03 | 6868937 | 531016 | 37 | -46 | 84.9 | 94.0 | 9.1 | 1.10 |
| includes: | 88.7 | 90.3 | 1.6 | 3.55 | ||||
| GC20-04 | 6868430 | 531551 | 70 | -45 | 80.5 | 90.0 | 9.5 | 0.54 |
| and | 147.8 | 151.7 | 3.9 | 0.22 | ||||
| GC20-05 | 6868936 | 531015 | 220 | -45 | 27.6 | 33.0 | 5.4 | 0.28 |
| and | 44.8 | 50.8 | 6.0 | 0.59 | ||||
| GC20-06 | 6868901 | 531025 | 35 | -45 | 64.5 | 65.0 | 0.5 | 5.36 |
Table 1.
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 15 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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