Stratabound provides update on CNE project
SB: TSX Venture Exchange Issued: 72,077,611shares
CALGARY, Aug. 14, 2012 /CNW/ - Stratabound Minerals Corp. (TSX.V:SB) (the "Company") reports that it continues to work towards completion of the permitting approval process required in order to mine its Captain North Extension (CNE) zinc-lead-silver-copper-gold deposit near Bathurst, New Brunswick, for delivery and custom tolling at Xstrata Zinc's Brunswick #12 mill.
Stratabound has been working in cooperation with the Technical Review Committee, comprised of representatives of the various federal and provincial agencies involved in the permitting process, to fulfill all requirements and submit all necessary documents to obtain a favourable environmental Determination, Approval to Construct, and Approval to Operate.
Detailed metallurgical testing is being carried out by Xstrata to establish the expected metal recoveries into separate zinc, copper, lead-silver, and bulk lead-zinc-silver concentrates. The environmental protection plan, construction and mining plans, and financial models are nearing completion by Stratabound's expert and highly experienced CNE Project team, consisting of Derek Brown, P. Geo.; Keith D. Phinney, P. Eng.; John S.G. Martin, P.Eng.; and Peter H. Atkinson, P.Eng.
Project manager Derek Brown has been engaged in mineral exploration and project management since 1975, in New Brunswick, Nunavut, Saskatchewan, Manitoba, Ontario, and Quebec. His experience includes base metals, limestone, uranium, gold and oil shale, with Preussag, Noranda, New Brunswick Department of Natural Resources, and several junior companies. He began his association with Stratabound in New Brunswick in 1986, in gold exploration and in the first round of exploration, development drilling, permitting, mining (1990 to 1992), and reclamation of the CNE Deposit. He has subsequently completed training in Environmental Law and Environmental Impact Assessments in New Brunswick and in mine evaluation and feasibility studies.
Keith Phinney, Stratabound's environmental engineering consultant, has twenty years of experience with major engineering firms and fifteen years as an independent consulting environmental engineer. His mining industry experience has been gained in eastern and western Canada, Bolivia, Chile, Mexico, and Peru. He has served as technical specialist to the management of multi-disciplinary environmental study and engineering teams, for open pit and underground mines. His experience relating to the treatment of mining and metallurgical wastes ranges from bench and pilot scale development of treatment processes to the design and start-up of full scale drainage control and wastewater treatment systems for base metal, precious metal, coal mining, and industrial mineral operations. He provides expertise in all aspects related to control of storm runoff; treatment of process effluents; field investigations, theoretical prediction and treatment of acid rock drainage; and receiving-stream water quality modeling.
John Martin, the company's mineral processing and mine management consultant, has over 40 years of experience in mineral processing and mine management in New Brunswick and Quebec. He began his career as a metallurgist at Noranda's Brunswick Mine in 1970, progressing to management positions in the Noranda organization. As General Manager, he played a key role in the successful restart of the Heath Steele Mine in 1989 and in 1995 returned to Brunswick as General Manager. In 1999, he joined Breakwater Resources, managing the Caribou operation, and was instrumental in developing a restart plan for Caribou that he successfully implemented in 2006 as President and Chief Operating Officer of Blue Note Mining, retiring in 2011. He now consults on a part time basis, and is representing Stratabound in arrangements with Xstrata Zinc to produce saleable concentrates by custom milling of our CNE deposit at the mill where his career began. He is a past director of the New Brunswick branch of the Canadian Institute of Mining, Metallurgy and Petroleum, and a past president of the New Brunswick Mining Association.
Peter Atkinson, Stratabound's consulting mining engineer, has brought several properties through the feasibility stage into production. Before starting his consultancy, he worked with Potash Company of America (now PotashCorp, the world's largest fertilizer company) as General Manager of its mine in Sussex, N.B., and prior to this, was Manager of Mine Operations for Home Oil Company in Calgary, AB. His consulting activities have included the design and construction management of an 800 tonne per day silica operation, the reopening and operation of a gold mine in Nova Scotia, and feasibility studies on several underground and open pit properties. He is a past president of both the Saskatchewan and New Brunswick branches of the Canadian Institute of Mining, Metallurgy and Petroleum, and a past president of the Nova Scotia Chamber of Mineral Resources.
About Stratabound Minerals Corp.
Stratabound is a Canadian natural resource company exploring and developing base metal and gold properties in eastern Canada. It is currently focused on bringing the CNE lead-zinc-silver deposit into production in the infrastructure-rich, world-class Bathurst Mining District of northern New Brunswick.
Neither 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, 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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