SB: TSX Venture Exchange
CALGARY, Aug. 25 /CNW/ - Stratabound Minerals Corp. is pleased to
announce that it has commissioned independent resource estimates and a
Preliminary Economic Assessment (PEA) of its 100%-owned Captain, CNE and
Taylor Brook base and precious metal deposits located in the Bathurst
Mining Camp of northern New Brunswick.
Resource estimates for the CNE and Taylor Brook deposits will be carried
out by Wardrop, A Tetra Tech Company ("Wardrop"). They will also
provide Stratabound with a PEA document, compliant with National
Instrument 43-101, to investigate the viability of production from the
combined resources of all three deposits. Mercator Geological Services
Ltd. of Dartmouth, Nova Scotia will update their October, 2008 Captain
Deposit resource estimate to incorporate additional drilling completed
This work is being partly funded by a $100,000 grant awarded to
Stratabound for evaluation of the CNE deposit under the Province of New
Brunswick's Deposit Evaluation Program.
The resource models for the three deposits will be evaluated by
Wardrop's open pit and underground mine engineers in order to develop a
preliminary recommendation of the optimal mining method for each
resource. These recommendations will be reviewed with Stratabound's
technical team to identify the best approach for open pit, underground
or a combination of both for each property in order to maximize the
economics of the project.
The PEA will also assess the project economics for combining the
Captain, CNE, and Taylor Brook resources into a single mill feed. This
study will incorporate operating and capital costs for mining and
milling using Wardrop's current cost database for the Bathurst camp,
based on its recent PEA work.
The proposal will evaluate processing the combined mineralization from
the three properties at one of three mill options (Caribou, Brunswick
No. 12, and a new mill construction). The base case to be presented in
the economic evaluation will be a toll mill option.
Stratabound is hopeful that Wardrop's PEA will result in advancing the
properties toward a feasibility study. The project is located in a
favourable mining jurisdiction with well developed infrastructure that
would have a positive impact on operating and development costs.
About Stratabound Minerals Corp.
Stratabound is a Canadian natural resource 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. Three world-class
base metal mines occur within a 20 kilometre radius of Stratabound's
Captain/CNE and Taylor Brook properties, namely Brunswick No. 12,
Brunswick No. 6, and Heath Steele.
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
SOURCE Stratabound Minerals Corp.
For further information: For further information:
Stan Stricker, P. Geol, President