Highlights:
- Drilling extends mineralization to 730m strike below-surface within 970m of strike indicated through surface trenching.
- Deepest intersection to date of 4.83 g/t Au/1.5m down-hole at 225m below surface in hole GC20-02.
- First of seven in-fill definition drill holes yields up to 5.80 g/t Au over 0.7m.
- Four parallel gold-mineralized structures are intercepted in hole GC20-10.
Toronto, Ontario--(Newsfile Corp. - March 4, 2021) - Stratabound Minerals Corp. (TSXV: SB) (OTC Pink: SBMIF) ("Stratabound" or the "Company") reports more assay results on diamond drilling completed at its flagship Golden Culvert Project in the southeastern Yukon Territory.
Two holes reported in this release, GC20-07 and GC20-08, are 30m extension step-out holes testing the northwest strike and dip extent of multiple parallel mineralized zones identified through drilling, trenching and surface float-train sampling performed in previous work programs. GC20-08 yielded the best result of 3.95 g/t Au over 0.9m down-hole.
Holes GC20-09 and GC20-09B are on similarly designed step-out to test the extension of the southeast strike and dip of previously identified mineralized zones.
GC20-10 is a definition in-fill hole that intercepted four separate gold-mineralized structures yielding up to 5.8 g/t Au over 0.7m between previously released holes GC18-06 and GC18-02 which yielded 12.98 g/t Au over 2.0m within a lower-grade section of 1.14 g/t Au over 7.5m, and 6.06 g/t Au over 1.9m within a lower-grade section of 1.76 g/t Au over 7.6m respectively. (Stratabound press release Oct. 24, 2018).
Hole GC20-10 continues to confirm continuity of higher-grade gold mineralization within broader haloes of lower-grade mineralization extending into the surrounding wall-rock of these four parallel structures.
Drill hole GC20-02 reported in the previous press release of January 12, 2021 intercepted the deepest intersection to date of 4.83 g/t Au over 1.5m at approximately 225m below surface between 292.5m and 294.0m down-hole.
All drill intersections presented in Figure 1 and Table 1 below are reported down-hole as insufficient definition drill results have been received to determine true widths at this time.
Mr. R. Kim Tyler, President and CEO of the Company commented, "Drill results continue to be received progressively inwards from extension holes towards the definition component of this year's program between previous wider-spaced drilling and trenching. We continue to look forward to receiving the remaining drill results designed to test the continuity of the mineralized zones between past drilling and trenching."
To date, a total of 19 diamond drill holes out of 25 drilled have now received assays. The finalized holes, together with 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:
| Diamond Drill Hole | UTM NAD 83 Northing | UTM NAD 83 Easting | Azimuth (deg) | Dip (deg) | From: (m) | To: (m) | Down-hole Length: | Au g/t: |
| GC20-01 | 6868859 | 531038 | 051 | -45 | 21.0 | 39.0 | 18.0 | 0.64 |
| including: | low | 29.0 | 33.2 | 4.2 | 1.24 | |||
| and | 98.0 | 105.5 | 7.5 | 2.47 | ||||
| including: | 101.5 | 103.1 | 1.6 | 10.31 | ||||
| GC20-02 | 6868745 | 531077 | 040 | -45 | 49.5 | 74.0 | 24.5 | 0.30 |
| including: | 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 | 037 | -46 | 84.9 | 94.0 | 9.1 | 1.10 |
| including: | 88.7 | 90.3 | 1.6 | 3.55 | ||||
| GC20-04 | 6868430 | 531551 | 070 | -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 | 035 | -45 | 64.5 | 65.0 | 0.5 | 5.36 |
| GC20-07 | 6868900 | 531023 | 220 | -45 | 9.0 | 16.7 | 7.7 | 0.62 |
| GC20-08 | 6868900 | 531057 | 040 | -45 | 80.8 | 81.7 | 0.9 | 3.95 |
| and | 99.0 | 101.3 | 2.3 | 0.80 | ||||
| GC20-09 | 6868533 | 531575 | 200 | -45 | 48.5 | 54.0 | 5.5 | 0.37 |
| GC20-09B | 6868533 | 531575 | 200 | -55 | 172.3 | 174.0 | 1.7 | 1.80 |
| and | 223.5 | 224.7 | 1.2 | 1.03 | ||||
| GC20-10 | 6868755 | 531148 | 040 | -45 | 7.3 | 8.0 | 0.7 | 5.80 |
| and | 29.0 | 34.1 | 5.1 | 0.55 | ||||
| and | 74.8 | 76.9 | 2.1 | 2.43 | ||||
| and | 107.2 | 110.2 | 3.0 | 0.81 |
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 well-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 or contact: R. Kim Tyler, President and CEO 416-915-4157
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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