- Sulphide minerals disseminated through 245 metres of felsic to
intermediate pyroclastic rocks in Hole 1
- Down hole pulse EM detects strong 20-channel conductor nearby
- Staking doubles land position
SB: TSX Venture Exchange
Issued: 37,049,702 shares
CALGARY, March 5 /CNW/ - Stratabound Minerals Corp. is pleased to update
shareholders on exploration progress at its Melchett Lake volcanogenic massive
sulphide (VMS) optioned property.
Late in 2007, Stratabound completed a 619 metre drill hole in the
Relf Lake area of the property to investigate the down dip extension of a
strong whole rock geochemical anomaly in an area of high grade surface
The hole targeted the surface mineralization's host rocks, a felsic to
intermediate, pyroclastic, metavolcanic sequence. These rocks were found to be
present from 345 to 590 metres. Disseminated sulphides, consisting of pyrite,
sphalerite and chalcopyrite +/- minor pyrrhotite, with occasional thin bands
(less than 2cm) of massive sulphides, are reported across the entire 245 metre
section.(*) Values for zinc and copper report concentrations up to 1.66% and
0.41%, respectively. Core recovery was excellent, averaging 99.5%.
The rock geochemistry indicates this entire 245 metre section exhibits
the intense hydrothermal alteration typically associated with VMS deposits,
and confirms that the alteration continues to increase in intensity with
depth. This suggests an increasing proximity to a mineralizing source at
A downhole pulse EM survey was carried out along the entire length of the
drill hole by Quantec Geoscience Ltd., the Company's geophysical consultant on
the property. The survey identified a strong (20 channel) off-hole conductive
feature, located 150 metres west of the drill hole at a vertical depth of
565 metres. The conductor is considered a high priority drill target that may
represent a VMS deposit.
The claims are located 60 kilometres (38 miles) north of the town of
Nakina, in the Thunder Bay Mining Division of northwest Ontario. In January,
2008 Stratabound staked an additional 104 units contiguous to its original
claims, bringing its total land position to 209 units (3,344 hectares;
Commenting on the recent results Mr. Stan Stricker, President of
Stratabound states: "We are extremely encouraged by the identification of such
a highly conductive body located within a suite of volcanic rocks exhibiting
major and trace element alteration patterns characteristically associated with
VMS deposits. While additional drilling will be required to determine the
causative source of the conductive body, we feel that this first drill hole
was just the opening salvo. We plan to drill test the off-hole conductor at a
target vertical depth of 565 metres in June."
Mr. Stricker goes on to state: "The Company controls over 11 kilometres
of the favourable mineralized stratigraphy. Along this strike length other
centres of alteration exist and one in particular, the Nakina 1 zone,
maintains alteration characteristics equal to or stronger than those
investigated at the Relf Zone where we just drilled. Additional high priority
geophysical drill targets are present within the mineralized stratigraphy at
Key Lake, in the property's western portion, and between Key Lake and the
Nakina 1 Zone, where grab samples returned 14.9% zinc and 28.8 g/t (0.84 oz/t)
Dr. John L. Wahl, P.Geo. is the Qualified Person as defined in
National Instrument 43-101, and has reviewed the technical information
contained in this release. Dr. Wahl supervised Kerr Addison Mines Ltd.'s
exploration of the property during the 1980s, and his Ph.D. thesis was a study
of the alteration geochemistry of VMS systems.
Stratabound Minerals Corp. has a history of discovery, development and
production in VMS environments. The company is currently exploring gold and
base metals properties in New Brunswick, Ontario and Quebec.
(*) Ninety-one representative composite core samples were collected
systematically along the entire length of the hole for whole rock
geochemical analysis. Samples were collected from a 1 metre interval,
every 8 metres down the hole. Each sample consisted of 4 pieces of
whole core, each approximately 5 cm. in length, taken at 25 cm.
intervals. Where heavier mineralization was encountered additional
samples were collected using the same sample collection protocol.
Each sample was analyzed for 30 elements by full scan ICP methods
after multi acid digestion. The samples were analyzed at the
Accurassay Laboratory located in Thunder Bay, Ontario.
The TSX Venture Exchange has not reviewed and does not accept
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 is under no obligation to update or alter any forward
looking statement. 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.
For further information:
For further information: Stan Stricker, P. Geol, President, (403)
258-3630, email@example.com, www.stratabound.com