Stratabound Drills New Targets on Captain/CNE Property
SB: TSX Venture Exchange Issued: 54,713,168 shares - Drilling underway on new Captain/CNE base metal targets - High grade zinc, lead, and silver grades in CNE Trench 2 - Cobalt-copper-gold-silver mineralization in CNE Trench 3
These claims cover approximately 4,240 acres, and host the Captain copper-cobalt deposit and the
At least 20 holes will be drilled initially to test new target areas as well as to drill test the
Since the successful completion of a share offering in
The work has included 37.6 kilometres of line cutting; 1.6 kilometres of trail cutting; 32.0 kilometres of Gradient IP; 6.0 kilometres of Pole-Dipole IP; and 5.4 kilometres of detailed magnetics at 5-metre stations. A total of 853 metres of backhoe trenching was completed, with the bucket retrieving 260 "basal till" samples and 12 rock samples, often under difficult conditions of deep overburden and rapidly caving trench walls. Analytical results have been received for all 12 rocks and for 187 of the tills.
Bedrock samples were successfully recovered from a 4-metre section of Trench 2, about sixty metres southwest of the previously mined (North Zone) CNE pit. Four grab samples from this interval, excavated from beneath 7 metres of overburden, were assayed. These yielded grades up to 16.3% zinc, 7.8% lead, and 663.5 g/t silver:
------------------------------------------------------------------------- Sample Lead, % Zinc, % Silver, g/t Gold, g/t ------------------------------------------------------------------------- CNE 1 6.50 16.30 460.2 0.19 ------------------------------------------------------------------------- CNE 2 1.27 0.17 168.7 0.11 ------------------------------------------------------------------------- CNE 3 3.30 10.40 663.5 1.44 ------------------------------------------------------------------------- CNE 4 7.80 10.80 176.4 0.35 -------------------------------------------------------------------------
Two mineralized samples of bedrock were also recovered from Trench 3, situated 10 metres west of the previously mined pit. The samples carry significant grades of gold-silver-copper-cobalt. The cobalt enrichment may indicate a genetic relationship with the mineralization at the Captain deposit, located about 1.6 kilometres to the south. It is important to note that the cobalt grade (0.127% = 3 lbs. per tonne) is higher than the
------------------------------------------------------------------------- Sample Gold, g/t Silver, g/t Copper, % Cobalt, % ------------------------------------------------------------------------- CNECuZone22812(A) 1.38 31.8 0.69 0.126 ------------------------------------------------------------------------- CNECuZone22812(B) 1.93 30.7 0.37 0.128 -------------------------------------------------------------------------
Approximately 39,000 tonnes of CNE massive sulphide ore were extracted in 1990-1992 and custom milled at Noranda's
Exploration has been partly funded by a grant awarded to Stratabound under the Province of New Brunswick's Junior Mining Assistance Program.
The technical information contained in this release has been reviewed by
Stratabound is a Canadian natural resource company exploring and developing 100%-owned gold and base metal properties in eastern
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: Stan Stricker, P. Geol, President, (403) 258-3630, [email protected], www.stratabound.com
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