Stratabound updates exploration activities in Bathurst District, New Brunswick
04 Sep, 2014, 11:55 ET
SB: TSX Venture Exchange
CALGARY, Sept. 4, 2014 /CNW/ -Stratabound Minerals Corp. (TSX.V: SB) is pleased to present a detailed review of its 2014 completed and upcoming exploration activities in the Bathurst District of northern New Brunswick.
Captain/CNE claims – 100% owned
The objectives of the 2014 program on the Captain claims are to discover new ore-grade tonnage on the known copper-cobalt-gold deposit, and to explore for a lead-zinc-silver massive sulphide deposit at depth or flanking the copper-cobalt vent, which has been followed vertically down-dip for 400 metres and is open along strike, down-dip and down-plunge.
A downhole pulse EM geophysical survey completed during the first quarter of 2014 detected off-hole conductors and suggest the copper-cobalt vent complex could continue on a north-south trend.
To test this idea, a MaxMin horizontal loop EM survey, on a new grid with an orientation modestly adjusted from previous geophysical surveys, was completed during the second quarter. This survey was successful in delineating a northerly trending anomaly that correlates with known sulphide intersections representing copper bearing vent mineralization, as well as with the off-hole EM anomalies. The apparent length of the Captain EM anomaly has consequently tripled from 100 to 300 metres, and additional surveying going south is planned.
A 1,500 metre drill program on Captain will include short holes to explore for additional sulphide accumulations along this extended EM trend, and deep drilling below the 500 metre level in search of additional copper tonnage and possible associated lead-zinc-silver accumulations.
Low-resistivity and high-metal-factor trends that extend from the Captain deposit to the CNE deposit and northward into Target Area B on the Commander claims have been identified by Induced Polarization surveys (see "August 2014: Corporate Presentation" at www.stratabound.com, and news release dated May 21, 2014).
Exploration of the CNE ore horizon along its northeast-southwest trend is continuing, with the intention of locating satellite deposits similar to the high grade zinc-lead-silver mineralization previously produced at the CNE Mine. A soil survey covering the footwall contact has been completed and results are pending.
Soil sampling is currently proceeding northward into Target Area B on the Commander claims and is nearing completion.
The primary objective of the 2014 program on the optioned Commander claims, in which Stratabound can earn up to a 65% interest, is to explore for large massive sulphide deposits within target areas exhibiting spatially coincident geological, geophysical, geochemical, and mineralogical features that are characteristic of such deposits. These targets are described in some detail in the news release dated May 21, 2014, and among others include (1) an exceptionally large and strong gravity high (Target Area A); and (2) a two-kilometre long, sulphide bearing iron formation along the contact between the Nepisiguit Falls Formation and Flat Landing Brook Formation (Target Area B), which is the favourable horizon for the Brunswick No. 12 mine and other major producers in the Bathurst Mining Camp.
An initial trench over the gravity high has recently confirmed the presence of strong chloritic alteration in quartz augen schist of the Nepisiguit Falls Formation, the rock type that is commonly in contact with massive sulphides in the Bathurst Mining Camp, enhancing the possibility that the gravity high may be caused by volcanogenic massive sulphide mineralization. Sulphide stringers carrying pyrrhotite and chalcopyrite have been noted in the rocks exposed in this trench.
Rock channel samples have been taken, as well as basal till and 'B' horizon soil samples overlying the rock exposure within the trench. These samples have been sent out for geochemical analysis.
A 600-700 metre hole will be drilled to test the gravity high and associated sulphide stringer zone. Site preparation for the drill hole is nearing completion.
Iron formation Target B will be tested by trenching and/or drilling after soil sampling has been completed north of the CNE Mine. Site preparation has been completed for a trenching program, and trenching will commence early in September.
Current plans call for a total of 1,500 to 2,000 metres of drilling on the Commander claims.
Road access to all 2014 exploration areas is nearing completion.
Taylor Brook – 100% owned
One hole will be drilled beneath a low-grade lead-zinc-silver pyritic massive sulphide intersection to see whether higher grades are present.
Green Point – 100% owned
A 400 metre long airborne electromagnetic anomaly was detected in 2001 and drill tested in 2003 by a previous owner, intersecting an alteration zone containing 1.17 g/t gold over a 15.5 metre core length, and other auriferous zones within the airborne trend. A soil survey by Stratabound in 2011 identified a 600 metre long multi-element soil anomaly trending toward the previously drilled alteration zone.
A detailed grid was recently cut and and picketed across the airborne EM and soil anomalies northwesterly for 1,200 metres to the property boundary. Detailed geophysical surveying, including HLEM, magnetics, and VLF EM, has covered the airborne anomaly and the drilled area.
The 2014 surveys have successfully identified HLEM trends that are thought to reflect late stage cross cutting mineralization. Additional soil geochemical sampling and EM surveying is planned to define additional outline drill targets.
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.
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.
WARNING: the Company relies upon litigation protection for "forward looking" statements. The information in this release may contain forward-looking information under applicable securities laws. This forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those implied by the forward-looking information. Factors that may cause actual results to vary materially include, but are not limited to, inaccurate assumptions concerning the exploration for and development of mineral deposits, currency fluctuations, unanticipated operational or technical difficulties, changes in laws or regulations, the risks of obtaining necessary licenses and permits, changes in general economic conditions or conditions in the financial markets and the inability to raise additional financing. Readers are cautioned not to place undue reliance on this forward-looking information. The Company does not assume the obligation to revise or update this forward-looking information after the date of this release or to revise such information to reflect the occurrence of future unanticipated events, except as may be required under applicable securities laws.
SOURCE: Stratabound Minerals Corp.
For further information: Stan Stricker, P. Geol., President, 403-258-3630, [email protected], www.stratabound.com
Share this article