Stratabound options new gold-silver-lead-zinc discovery in New Brunswick

SB: TSX Venture Exchange                        Issued:  62,795,111 shares

CALGARY, Jan. 13 /CNW/ - Stratabound Minerals Corp. is pleased to announce it has optioned a 55-claim (880 hectare) gold-silver-lead-zinc prospect from Bathurst prospectors Lorenzo Noel and Bert Mallet. The claims are located in the Serpentine Lake area of the Miramichi Highlands in north central New Brunswick.

The Noel-Mallet acquisition is consistent with Stratabound's policy of identifying and pursuing the most attractive mineral opportunities available in New Brunswick.

Messrs. Noel and Mallet recently received New Brunswick's Prospector-of-the-Year Award for their discovery of high-grade mineralized boulders and cobbles on the property. Assays are shown below: 

Description Gold
1 Massive sulphide vein 0.80 161.1 42.4 1.20
2 Massive sulphide vein 4.70 230.1 19.0 1.50
3 Massive sulphide vein 8.26 149.6 32.4 2.13
4 Massive sulphide vein 1.88 46.0 5.70 2.30
5 Massive sulphide vein 0.08 0.2 0.12 0.02
Birch 4 Hematitic quartz breccia 1.84 145.7 0.28 0.09
144302 Massive sulphide vein 4.15 69.7 30.3 2.12
144303 Glacial till from trench 0.97 75.2 1.40 1.01
144304 Massive sulphide vein 0.46 66.8 21.0 1.25
144305 Hematitic quartz breccia 5.18 27.0 0.99 10.4
144306 Massive sulphide vein 0.08 18.3 0.62 0.10

Most of the samples are fist-sized cobbles of galena-rich massive sulphide vein material. Of particular interest are the hematitic quartz breccia boulders which contain possible epithermal-style gold and silver mineralization, and suggest that a sizable epithermal precious metals deposit could exist on the property.

Stratabound conducted a site inspection and collected check samples for assay at Eastern Analytical Limited of Springdale, NF. The new assay data supports the previous results:

Description Gold
19101* Hematitic quartz breccia 0.90 157.2 3.50 0.02
19102 Hematitic quartz breccia 3.80 191.8 3.10 0.54
19106 Massive sulphide vein 2.46 126.6 42.0 0.91
19108 Hematitic quartz breccia,
low sulphide
0.13 57.1 0.74 0.01

*A photograph of sample 19101 is available on the company's website,

Samples 19101, 19102 and 19108 are boulders measuring 30 to 50cm by 50cm, exhibiting hematitic quartz epithermal-style stockwork hosted by gneissic sedimentary rock. Judging from their sharp angularity they have a local source area. 

Additional observations by the New Brunswick Department of Natural Resources (NBDNR) also suggest a local source area, namely multiple zones of red oxidized material, oriented roughly parallel to surface and occurring throughout four metres of glacial overburden exposed within a trench (James Walker, NBDNR, verbal communication). Sample 144303 was taken to test this material which upon assay was found to contain significant gold and silver.

Previous work by Canadian Occidental Petroleum Limited in the area consisted of soil and silt sampling focused on searching for uranium. Two heavy mineral concentrate samples collected within the watershed immediately west of the Noel-Mallet occurrence are anomalous in gold.

A prominent northwesterly trending lineament defined by Canadian Occidental Petroleum from airborne magnetic data passes through the claims just west of the boulder occurrences and may be associated with the epithermal gold-silver mineralization.

Overburden depth exceeds four metres, and no outcrops are exposed. An initial exploration program is planned for this spring.

Terms of Agreement

Stratabound has a 3-year option to acquire a 100% interest in the claims. The terms are as follows, and are subject to regulatory approval:

  • Year 1:  $30,000 cash + 125,000 shares
  • Year 2:  $50,000 + 150,000 shares
  • Year 3:  $125,000 + 150,000 shares
  • 2% net smelter return on production payable to Noel/Mallet; Stratabound can purchase half the royalty at any time for $1,000,000

The technical information contained in this release has been reviewed by John Duncan, P.Geo., a Qualified Person as defined in National Instrument 43-101.

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 statement.

SOURCE Stratabound Minerals Corp.

For further information:

Stan Stricker, P. Geol, President

Profil de l'entreprise

Stratabound Minerals Corp.

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