StrataGold increases Mar-Tungsten Deposit indicated resource by 44% and provides metallurgical test results



    VANCOUVER, Oct. 16 /CNW/ - StrataGold Corporation (SGV-TSX) ("StrataGold"
or the "Company") is pleased to announce that a new independent National
Instrument (NI) 43-101 Mineral Resource estimate by SRK Consulting (US) Inc.
("SRK"), has increased the Indicated Resource of the Mar-Tungsten Deposit by
44%.

    
    -   The Mar-Tungsten Deposit contains 65.7 million pounds of tungsten
        (WO(3)) in the Indicated category and 8.5 million pounds of tungsten
        (WO(3)) in the Inferred category based on a 0.1% WO(3) cutoff.
    -   Metallurgical test work recovered ~90% WO(3) by way of a combined
        gravity-flotation approach.
    -   The price for tungsten (WO(3)) is US$11.57 per pound as at
        September 24, 2008.
    -   SRK has been engaged to complete a Preliminary Economic Assessment on
        the Mar-Tungsten Deposit.
    -   StrataGold is evaluating opportunities to realize value for the
        Mar-Tungsten Deposit for its shareholders.
    

    2008 Exploration Program

    StrataGold drilled 34 diamond drill (DD) holes for a total of 4057.68
metres (m) on the Mar-Tungsten Deposit in 2008 (see news release August 28,
2008). The 2008 diamond drill (DD) program successfully extended the scheelite
mineralization up dip toward the surface and along strike. Additionally,
infill drilling showed good grade continuity, resulting in significant
conversion of previously inferred resource into the current indicated resource
category. The deposit remains open down dip and along strike to the north. The
Mar-Tungsten Deposit is located within StrataGold's wholly owned Dublin Gulch
property, Yukon Territory, Canada, 2.5 kilometres (km) east of the Eagle Zone
(gold) Deposit.

    
    Mar-Tungsten Deposit Resource Statement(1)

    -------------------------------------------------------------------------
                                                  Contained      WO(3) MTU's
    Resource         Total         % WO(3)          WO(3)      (metric tonne
     Category       Tonnes         Grade(*)        (pounds)       units(xx))
    -------------------------------------------------------------------------
    Indicated      7,819,330           0.381      65,679,443       2,979,000
    -------------------------------------------------------------------------
    Inferred         945,374           0.410       8,545,030         387,600
    -------------------------------------------------------------------------
    (*) A cut-off grade of 0.10% WO(3) was used for this resource statement
    (xx) An MTU is defined as 1/100th of a metric tonne or 22.05lbs.
    

    Metallurgical Test Results

    Under the direction of SRK, samples were collected from the 2008 drill
core to be composited and are considered representative of the Mar-Tungsten
Deposit. The average grade of the composite used for testing was 0.39% WO(3)
which is consistent with the Indicated Resource grade of 0.381% WO(3). The
metallurgical test work was carried out by SGS Canada Inc. and the scope of
the program involved chemical and mineralogical analyses, bond ball mill work
index (BWI) testing and flow sheet options for the recovery of tungsten via
gravity concentration and flotation.
    The mineralized material is largely free of deleterious minerals such as
clay, fluorite and molybdenum and the tungsten is hosted by scheelite. The
composite sample responded well to flotation and gravity concentration with a
conventional flow sheet. A combined gravity-flotation approach is contemplated
with gravity recovering 60-65% WO(3) to a high grade concentrate (62.60%
WO(3)) and flotation expected to recover ~20% to a lower grade concentrate
which could be blended with the gravity concentrate. A combined gravity
flotation approach recovered ~90% of WO(3) to a rougher concentrate. SGS
recommended additional work with the rougher flotation concentrate to focus on
flotation cleaning, gravity cleaning and a combination of the two.
    Grindability testing on the minus 10 mesh composite resulted in a Bond
Ball Work Index (BWI) of 14.1 kWh/t. According to the SGS database of other
BWI indices the ore is of medium hardness.
    A copy of the full resource calculation report will be available on the
SEDAR website within 45 days of this press release. The NI 43-101 mineral
resource estimate, which is effective October 16, 2008, was prepared by SRK
Consulting (US) Inc., an independent consulting firm. The qualified person (as
described under NI 43-101) responsible for the resource estimate and technical
content of this press release is Dr. Bart Stryhas, PhD, a Principal Resource
Geologist at SRK.

    Quality Control, Assurance and Data Verification

    A rigorous Quality Control and Assurance program (QC/QA) is in place,
using control samples and duplicates, as well as Chain of Custody (COC)
protocols. Tamperproof sample bags and sample tags were utilized for all of
the drill samples. All Mar-Tungsten drill samples were prepared and analyzed
by ALS Laboratory Group located in British Columbia, Canada. ALS is an ISO
9001:2000 registered and accredited to ISO 17025:2005 by the Standards Council
of Canada (SCC) for specific analytical procedures. The control samples and
duplicate assay results received for the drilling program demonstrate to
StrataGold that the results are considered reliable. The technical information
in this news release has been prepared in accordance with Canadian regulatory
requirements set out in National Instrument 43-101.
    The exploration program was conducted under the supervision of qualified
person Terry Tucker, P.Geo., StrataGold's President and CEO. Terry Tucker has
reviewed the technical content of this press release.

    
    1: Notes

    1.  This drilling has been audited and validated by SRK in accordance
        with CIM Estimation of Mineral Resources and Mineral Reserves Best
        Practice Guidelines and with National Instrument 43-101 guidelines by
        Dr. Bart Stryhas, PhD, an independent Qualified Person as defined by
        NI 43-101.
    2.  The resource estimation employed a categorical indicator approach
        based on a 0.1% WO(3) cut-off. Grade estimation was made using an
        inverse distance squared algorithm within blocks having a probability
        of 50% and higher.
    3.  Drillhole WO(3) assays were composited into 2 m downhole lengths and
        capped at 3%.
    4.  Tonnage was estimated based on a specific gravity assigned by rock
        type and alteration type. The specific gravities ranged between 2.7
        and 2.9 g/cm(3)
    5.  Mineral resources are not mineral reserves and do not have
        demonstrated economic viability.
    6.  Mineral resources were classified according to the CIM Definition
        Standards for Mineral Resources and Mineral Reserves by Dr. Bart
        Stryhas, PhD, an independent Qualified Person as defined by NI 43-
        101.
    7.  SRK is not aware of any known environmental, permitting, legal,
        title, taxation, socio-economic, marketing or other relevant issues
        that could potentially affect this estimate of mineral resources. The
        mineral resources may be affected by subsequent assessments of
        mining, environmental, processing, permitting, taxation, socio-
        economic and other factors. There is insufficient information at this
        early stage of study to assess the extent to which the resources will
        be affected by these factors, which are more appropriately assessed
        in a conceptual study.
    

    About StrataGold Corporation

    StrataGold is a gold development company focused on the systematic
exploration and development of two advanced-stage gold projects, Dublin Gulch,
Yukon (including the Eagle Zone and Mar-Tungsten Deposits), Tassawini, Guyana
and the BRL Venture with Newmont in Guyana. To obtain additional information,
photos, project updates and maps pertaining to this news release, please
visit: www.stratagold.com.

    Statement Regarding Forward Looking Statements

    This news release of StrataGold Corporation (the "Company") contains
statements that constitute "forward-looking statements." Such forward-looking
statements involve known and unknown risks, uncertainties and other factors
that may cause our actual results, performance or achievements, or
developments in our industry, to differ materially from the anticipated
results, performance or achievements expressed or implied by such
forward-looking statements. Forward looking statements are statements that are
not historical facts and are generally, but not always, identified by the
words "expects," "aims," "plans," "anticipates," "believes," "intends,"
"estimates," "projects," "potential" and similar expressions, or that events
or conditions "will," "would," "may," "could" or "should" occur. Information
inferred from the interpretation of drilling results and information
concerning mineral resource estimates may also be deemed to be forward looking
statements, as such information constitutes a prediction of what might be
found to be present when and if a project is actually developed.
Forward-looking statements in this document include statements regarding: the
Company's expectations regarding drilling and exploration activities on
properties in which the Company has an interest; and the Company's statements
regarding estimates of resources on properties in which the Company has an
interest. There can be no assurance that such statements will prove to be
accurate. Actual results and future events could differ materially from those
anticipated in such statements, and readers are cautioned not to place undue
reliance on these forward-looking statements that speak only as of their
respective dates. Important factors that could cause actual results to differ
materially from the Company's expectations include among others, risks related
to fluctuations in mineral prices; uncertainties related to raising sufficient
financing to fund planned work in a timely manner and on acceptable terms;
changes in planned work resulting from weather, logistical, technical or other
factors; the possibility that results of work will not fulfill expectations
and realize the perceived potential of the Company's properties; uncertainties
involved in the estimation of resources; the possibility that required permits
may not be obtained on a timely manner or at all; the possibility that capital
and operating costs may be higher than currently estimated and may preclude
commercial development or render operations uneconomic; the possibility that
the estimated recovery rates may not be achieved; risk of accidents, equipment
breakdowns and labour disputes or other unanticipated difficulties or
interruptions; the possibility of cost overruns or unanticipated expenses in
the work program; the risk of environmental contamination or damage resulting
from the Company's operations; risks associated with title to mineral
properties; and other risks and uncertainties discussed under the heading
"Risk Factors" in Section 5 of the Company's Annual Information Form filed on
SEDAR and elsewhere in the Company's documents filed from time to time with
the Toronto Stock Exchange and Canadian securities regulators. These
statements are based on a number of assumptions, including assumptions
regarding general market conditions, the availability of financing for
proposed transactions and programs on reasonable terms, and the ability of
outside service providers to deliver services in a satisfactory and timely
manner. Forward-looking statements are based on the beliefs, estimates and
opinions of the Company's management on the date the statements are made.
Except as expressly required by applicable securities laws, the Corporation
undertakes no obligation to update these forward-looking statements in the
event that management's beliefs, estimates or opinions, or other factors,
should change.
    This news release uses the terms "Inferred Resource", "Indicated
Resource" and "Mineral Resource". The Company advises readers that although
these terms are recognized and required by Canadian securities regulations
(under National Instrument 43-101 "Standards of Disclosure for Mineral
Projects"), the US Securities and Exchange Commission does not recognize these
terms. Readers are cautioned not to assume that any part or all of the mineral
deposits in these categories will ever be converted into reserves. In
addition, "Inferred Resources" have a great amount of uncertainty as to their
existence, and economic and legal feasibility. It cannot be assumed that any
part of an Indicated or Inferred Mineral Resource will ever be upgraded to a
higher category. Under Canadian rules, estimates of Inferred Mineral Resources
may not form the basis of feasibility or pre-feasibility studies, or economic
studies except for a Preliminary Assessment as defined and permitted under
National Instrument 43-101. Readers are cautioned not to assume that part or
all of an inferred resource exists, or is economically or legally mineable.
The Mineral Resources stated in this news release are not mineral reserves
and, in the absence of a current feasibility study, do not demonstrate
economic viability. The determination of mineral reserves can be affected by
various factors including environmental, permitting, legal, title, taxation,
socio-political, and marketing issues.





For further information:

For further information: Terry Tucker, President and CEO, Vanessa
Pickering, Manager, Investor Communications, StrataGold Corporation, Tel:
(604) 696-6601, E-mail: info@stratagold.com, Website: www.stratagold.com

Organization Profile

STRATAGOLD CORPORATION

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