Stratabound uncovers bedrock mineralization on Lorenzo property, New Brunswick

SB: TSX Venture Exchange       

Issued: 65,045,111 shares

CALGARY, Sept. 13, 2011 /CNW/ - Management of Stratabound Minerals Corp. is pleased to announce that trenching on the company's Lorenzo property has uncovered bedrock sulphides, which may be part of the mineralizing system generating the strong geochemical responses and the mineralized boulder train at surface.  The lead-silver rich character of the bedrock mineralization is consistent with that seen in some of the mineralized boulders (see news release dated January 13, 2011), and is strong encouragement for additional exploration work in this area.

A pit was excavated through deep glacial overburden adjacent to the main access road and the boulder discovery area.  The pit bottomed in bedrock at a depth of 8 metres (25 feet), allowing examination and sampling of bedrock within a limited area of less than 32 metres by 28 metres.  The composition of bedrock underlying any portion of the claims was unknown before the current program, as the property is completely covered with a blanket of glacial overburden.

During excavation of the pit, the glacial till was found to contain angular boulders and blocks of mineralized hematitic quartz breccia, some exceeding one metre in size.  The angularity and size of the boulders suggest a source area a short distance away in the up-ice direction.  A total of 23 basal till samples and 38 channel samples were taken and sent for analysis to Activation Laboratories Ltd. in Ancaster, Ontario.

Assay results show that the basal till samples contain anomalously high levels of metal, averaging 8.1 g/t silver, 81 ppb gold, 1,418 ppm lead and 1,268 ppm zinc.

The bedrock uncovered within the pit consisted of contorted, clastic, non-magnetic sedimentary rocks, becoming weakly magnetic to the southwest.  The rocks were found to be silicified and mineralized with vuggy quartz-hematite veins and veinlets; hematite-stained fractures; vugs, pods and veinlets of galena; and a northwest-striking quartz-hematite breccia up to two metres wide (see photo gallery on Lorenzo webpage).

The most anomalous channel sample results were:

Channel Interval
(metres)
Length
(metres)
Gold
(g/t)
Silver
(g/t)
Lead
(%)
Zinc
(%)
11N 11.5-13W 1.5 0.39 19.67 0.11 0.08
including            
  12-12.5 0.5 1.02 52.4 0.15 0.08
             
20N 1.7-3.2 1.5 0.36 37.5 4.68 0.12
             
24N 1.3-1.8 0.5 0.87 97.4 4.80 0.17

Geophysical surveys detected several large magnetic anomalies, including a prominent 3-kilometre long feature.  Several linear VLF-EM anomalies were also outlined, both flanking and cutting across the magnetic anomalies (see Lorenzo webpage at www.stratabound.com for maps).  The mineralized veins in the pit may represent splays related to the adjacent 3-kilometre magnetic anomaly.  All of these anomalies represent potential drill targets.

Commenting on these results Mr. Stan Stricker, President of Stratabound, states: "We are very encouraged by this initial evidence of mineralization in bedrock underlying Lorenzo, particularly as it is in virgin exploration country.  Based on geophysical evidence, large areas of the property are prospective and require drilling. Our target is to find a sizable epithermal precious and base metal deposit occurring within large volumes of brecciated and hematized rock."

Five holes have recently been drilled totaling 1,025 metres (see drillhole location map on Lorenzo webpage).  Three of the holes were drilled to further test the veins uncovered in the pit.  One hole tested a northwest-trending weak VLF conductor 200 metres north of the showing.  The remaining hole, 600 metres to the northwest of the showing, tested a weak VLF conductor on the northern flank of the central portion of the 3-kilometre long magnetic anomaly.  The holes collared to test the pit occurrence have intersected up to four alteration zones displaying weak hematite and local quartz breccias. Core samples have been submitted for assay.

The technical information contained in this release has been reviewed by John Duncan, P.Geo., a Qualified Person as defined in National Instrument 43-101.

About Stratabound Minerals Corp.

Stratabound is a Canadian natural resources company exploring and developing gold and base metal properties in eastern Canada. It is currently focused on building a resource base in the infrastructure-rich Bathurst Mining District of northern New Brunswick and on exploring new properties that present significant opportunities for near-term mineral discovery in New Brunswick and Quebec.

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.

Certain information regarding the Company contained herein may constitute forward looking statements. Forward looking statements may include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact.  Although the Company believes that the expectations reflected in such forward looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct.  These statements are subject to certain risks and uncertainties and may be based on assumptions that could cause actual results to differ materially from those anticipated or implied in the forward looking statements.  The Company does not plan to update or alter any forward looking statement except where required by law.  These risks include operational and geological risks and the ability of the Company to raise necessary funds for exploration.  The Company's forward looking statements are expressly qualified in their entirety by this cautionary statement.

 

 

 

SOURCE Stratabound Minerals Corp.

For further information:

Stan Stricker, P. Geol, President
403-258-3630
info@stratabound.com
www.stratabound.com

Profil de l'entreprise

Stratabound Minerals Corp.

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