Highlights:
-
First phase surface sampling program outlines 1km long
by 100m wide boulder field grading 13.27 g/t gold averaged from a
total 93 samples.
-
Boulder field composed of multiple parallel gold-bearing
quartz "float-trains" linking mineralized outcrop and trenches
grading up to 95 g/t gold over 1.5m within 24.41 g/t gold over 6m,
and overlying drill intercepts up to 60.1 g/t gold over 0.9m within
2.53 g/t Au over 33.1m.
-
2nd phase
drill program recently
completed under the
boulder field. Results
pending.
-
$6.7M funding recently completed in
November. Debt free and fully
funded going
forward.
Toronto, Ontario--(Newsfile Corp. - November 17, 2020)
- Stratabound Minerals Corp. (TSXV: SB)
(OTC Pink:
SBMIF) ("Stratabound" or the "Company") reports
results received from its Phase 1 field program concluded this
summer at its flagship Golden Culvert Project (the
"Project"). A surface geochemistry sampling
program outlined a 1 km long by up to 100 m wide gold-mineralized
boulder field of surface float-trains linking likewise
gold-mineralized quartz vein structures exposed in outcrop, subcrop
and trenching in previous programs either side of the Main
Discovery outcrop.
The top 10% highest grade samples were distributed across 670
metres of strike, 290 metres of vertical relief and included:
-
320.0 g/t, 155.0 g/t, 147.0 g/t, 118.0 g/t (with visible gold),
92.9 g/t (with visible gold), 41.8 g/t, 26.6 g/t, 25.2 g/t,17.10
g/t, and 16.55 g/t gold
All 93 surface samples averaged 13.27 g/t gold uncapped, (8.82
g/t Au capped*), and ranged between <0.01 g/t to 320 g/t gold.
Sixty-five, (70%), of the samples ranging between 0.25 g/t to 320
g/t gold averaged 18.96 g/t gold uncapped, (11.48 g/t gold
capped*). Visible gold was identified in two of the samples that
assayed 118.0 and 92.9 g/t gold respectively and only two samples
in the group were below assay detection limits of <0.01 g/t Au.
Sampling was done selectively on sulphide-bearing quartz
float-trains along strike of the known exposed vein outcrops and
subcrops, (see Figures 3 and 4), and may not represent the true
grade or style of mineralization.
* A capping grade of 83.8 g/t Au calculated as double the
standard deviation of the 93-sample population was applied to all
values greater than 83.8 g/t Au.
Mr. R. Kim Tyler, President and CEO of the Company commented,
"This continued evidence of high-grade gold in the region further
exemplifies the 5,401 g/t gold discovery in 2003 at the nearby 3
Aces property located 25 km to the south of our Project and
recently acquired by Seabridge Gold, a $1.7 billion market
capitalized gold development company and a significant new presence
in our neighbourhood. We believe we are at the very early stage of
the next significant North American gold district. We look forward
to receiving assay results from our recently completed latest phase
of drilling, just below the float-trains and subcrops described in
this press release."
He further added, "The unique and special feature of our Golden
Culvert region, and the Yukon in general, is that it was once a
land-bridge during past ice-ages connecting North America with
Asia, and was not covered by kilometres-thick
flowing continental ice sheets as most of the remaining North
American continent was. The significance is that much of the gold
found lying about in float-trains linking gold-bearing outcrop on
surface here at the Golden Culvert remains at, or near, its
sources. Mineralization has not been scraped clean
and transported thousands of kilometres away, nor have these
sources been covered and hidden by thick accumulations of glacial
till and overburden as has occurred elsewhere on the continent.
This makes our exploration work of simply following the trains of
mineralized boulders especially simple, effective and rewarding.
The evidence for significant high-grade gold mineralization in our
district lies, literally, at our feet as this work program has
clearly demonstrated."
The mineralized float-trains link up and connect gold
mineralization exposed in surface trenches reported in previous
releases including trench TR1923-B which yielded 24.41 gpt Au over
6.0m including of 95.0 gpt Au over 1.5m, (Stratabound press release
Oct. 23, 2019) and overlie similar gold mineralization reported in
past diamond drilling up to 60.1 g/t Au over 0.9m within a larger
interval of 2.3 g/t Au over 33.1m in drill hole GC1803,
(Stratabound press release Oct. 10, 2018).
Figure 1.
Golden Culvert Float-Train Sample Distribution with
Diamond Drills in Operation:
View South-east across 290m Vertical Face
Exposure;
Gold-bearing Structural Zones Overprinted
in Yellow
Figures 1 and 2, above and below, show the distribution of the
float-train assay results as they relate to the multiple parallel
gold-bearing structural zones and surrounding gold-in-soil
anomaly.
Figure 2.
Golden Culvert Float-Train Sample Distribution and Recently
Completed Drilling (Plan View)
Figures 3, 4.
Golden Culvert Mineralized Quartz and Quartz Breccia
Surface Float Samples Referenced in this Press
Release.
Phase II Diamond Drilling Update:
The diamond drill program has concluded for the 2020 season as
required under the time frames allowed within the Company's Class 3
exploration permit. Seventeen diamond drill holes were completed
for a total of 3,217 metres across one kilometre of strike length.
The diamond drill program focussed directly under the
gold-mineralized float-trains described above and are detailed on
Figure 2. The Company expects initial assay results in late
December.
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 that
have been targeted for definition and extensional drilling this
season.
A total of 25 diamond drill holes comprised of 4,587 metres and
24 trenches have now been completed over 1 kilometre of strike to
date.
Yukon Mineral Exploration Grant Program (YMEP) Grant
The Company wishes to thank the Yukon Territorial Government for
approving a grant of funds and the Company's COVID 19
Self-Isolation Plan that enabled this Phase 1 program to proceed,
without which these results may not have been obtained. The Company
also wishes to respectfully acknowledge the First Nations
communities of Liard First Nation and Ross River Dena in whose
traditional lands the Company has been conducting its work.
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 a by the Au-GRA22 Ore Grade procedure on a 50-gram
pulp fire assayed and gravimetric finish analyses.
Forty-one of the samples with the highest values were duplicated
by the Au-SCR24 Metallic Screening method on 1 kg pulps derived
from the original coarse rejects. The pulps were then screened on a
+/- 100-micron screen with duplicate assays done on 50g each of the
under-size fraction and assaying of the entire over-size fraction.
Results are compared and summarized in Table 1 below.
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.
Table 1.
Rock Geochemistry Original Compared to Duplicate
Metallic Screen Procedures
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 info@stratabound.com.
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 o
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