Stratabound's Elmtree Gold Advances on Drill Results; Metallurgy Underway



    
    SB: TSX Venture Exchange                       Issued: 42,484,168 shares

    -   Metallurgical testing underway
    -   Additional drill results
    -   Boulder found grading 24.7 g/t gold
    

    CALGARY, Feb. 18 /CNW/ - Stratabound Minerals Corp. (TSX.V:SB) is pleased
to provide an update on its wholly-owned Elmtree gold property, consisting of
85 claims (1,375 hectares, 3,400 acres) situated near the port city of
Bathurst, New Brunswick.
    The Elmtree property contains at least two gold-bearing zones, the higher
grade West Gabbro Zone (WGZ), and the larger tonnage, lower grade South Gold
Zone (SGZ). A portion of SGZ contains significant stringer mineralization with
appreciable zinc-lead-antimony-gold-silver-indium values.
    RPC of Fredericton, New Brunswick, an ISO 9001:2000 registered
laboratory, has been retained to carry out a preliminary metallurgical study.
RPC is nationally accredited by both the Standards Council of Canada and the
Canadian Association of Environmental Analytical Laboratories. Two composite
bulk samples, each containing about 115 kilograms of mineralized core, are
being utilized, one from each zone. This work will initially involve detailed
mineralogy and a determination of optimal grind sizes, followed by bench scale
scoping tests that will evaluate gravity and bulk or sequential rougher
flotation techniques. Gold concentrates will be assessed for amenability to
cyanide leaching as well as direct smelter sale. Other recovery methods
including bacterial leaching may be examined if warranted.
    A mineral resource estimate, compliant with National Instrument 43-101
standards, was published last year. The Elmtree resource estimate consisted of
525,000 Indicated tonnes grading 2.45 g/t gold (41,000 ounces gold) plus
4,624,000 Inferred tonnes at an average grade of 1.25 g/t gold (185,500 ounces
gold), plus 41,000 Inferred tonnes containing 201,000 ounces of silver, 7.0
million lbs zinc and 2.4 million lbs lead. Contained metals reported were in
situ.
    The gold intersections reported below were completed in 2008 and are
step-outs from previous holes. They have not been factored into the resource
estimate.

    
    Holes ELM 50 and ELM 51 were drilled into the high grade WGZ, consisting
of mineralized altered gabbro and intruded phyllites in the Ordovician "Upper
Plate" of the Elmtree Thrust Fault:

    -------------------------------------------------------------------------
    Drill       Section       Dip       From         To     Length      Gold,
     Hole                             Metres     Metres     Metres       g/t
    -------------------------------------------------------------------------
    ELM 50        300W        -45       48.5         67       18.5      1.95
    -------------------------------------------------------------------------
    Incl.                                 50       54.5        4.5      2.58
    -------------------------------------------------------------------------
    & Incl.                               56         57        1.0      4.08
    -------------------------------------------------------------------------
    & incl.                             65.5         67        1.5      6.87
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    ELM 51(*)     300W        -50         56       73.5       17.5      4.65
    -------------------------------------------------------------------------
    Incl.                               57.5         71       13.5      5.35
    -------------------------------------------------------------------------
    Incl.                               57.5         60        2.5      6.80
    -------------------------------------------------------------------------
    & incl.                             62.5         71        8.5      5.90
    -------------------------------------------------------------------------
    Incl.                               67.5         71        3.5      8.03
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    (*) Undercut of ELM 50


    Holes ELM 42 to 49 were drilled into the low grade South Gold Zone,
consisting of altered and mineralized calcareous sedimentary rocks of the
"Lower Plate" beneath the thrust fault:

    -------------------------------------------------------------------------
    Drill       Section       Dip       From         To     Length      Gold,
     Hole                             Metres     Metres     Metres       g/t
    -------------------------------------------------------------------------
    ELM 42        125E        -40       81.5      116.5       35.0      0.63
    -------------------------------------------------------------------------
    Incl.                              108.5      113.5        5.0      1.59
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    ELM 43        150E        -40         73      101.5       28.5      0.59
    -------------------------------------------------------------------------
    Incl.                                 93         98        5.0      1.39
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    ELM 44        200E        -45         85        119       34.0      0.48
    -------------------------------------------------------------------------
    Incl.                               87.5         90        2.5      1.38
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    ELM 45(xx)    300E        -40
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    ELM 46         75E        -60        134        164       30.0      0.44
    -------------------------------------------------------------------------
    Incl.                                145        146        1.0      2.72
    -------------------------------------------------------------------------
    & incl.                            161.5        164        2.5      1.18
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    ELM 47         90E        -40       26.5       53.5       27.0      0.43
    -------------------------------------------------------------------------
    Incl.                                 51         53        2.0      1.11
    -------------------------------------------------------------------------
                                        81.5         82        0.5      1.13
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    ELM 48         25E        -60      138.5        202       63.5      0.36
    -------------------------------------------------------------------------
    Incl.                              152.5      153.5        1.0      1.51
    -------------------------------------------------------------------------
    & incl.                            179.5      197.5       18.0      0.57
    -------------------------------------------------------------------------
    Incl.                                183        186        3.0      1.13
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    ELM 49(xx)     50E        -65        176      176.5        0.5      8.80
    -------------------------------------------------------------------------
                                       237.5      240.5        3.0      1.65
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    (xx) Abandoned before hitting target
    

    The Elmtree resource is comparable in tonnage and grade to many low-grade
open pit gold operations of the southwest United States. A substantial portion
of the published resource is within 100 metres of surface, giving rise to
potential open pit mining opportunities if metallurgical testing proves to be
favourable.
    Soil sampling results from 2008 indicated that the gold-in-soil anomaly
overlying the SGZ extends easterly, beyond the property's former boundary,
i.e. beyond any previous drilling, for at least 400 metres onto Stratabound's
newly acquired claims. The resistivity anomaly which is adjacent to the
Elmtree Thrust, and which is associated with the SGZ, is now known to extend
for at least 2.5 kilometers.
    Finally, 2008 prospecting found a mineralized boulder grading 24.7 g/t
gold, located 75 metres east of an unexplained magnetic anomaly. The boulder
may indicate a new vein system not previously tested by drilling or trenching.
Follow-up soil sampling is required.
    Gold analyses were done by SGS Mineral Services of Toronto, Ontario by
fire assay with atomic absorption finish. Holes 50 and 51 were also assayed at
Eastern Analytical Limited of Springdale, Newfoundland. Stratabound maintains
Quality Control and Quality Assurance protocols in place for drill core that
include blank samples, duplicate samples, certified standards and spot checks
using other laboratories. The technical information contained in this release
has been reviewed by John Duncan, P.Geo. and Stan Stricker, P.Geol., Qualified
Persons as defined in National Instrument 43-101.

    Stratabound Minerals Corp. is a Canadian natural resource company
exploring and developing 100%-owned gold and base metal properties in eastern
Canada. It is currently focused on building a resource base in the
infrastructure-rich, world-class Bathurst Mining District of New Brunswick.

    
    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, info@stratabound.com, www.stratabound.com

Organization Profile

Stratabound Minerals Corp.

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890