SB: TSX Venture Exchange Issued: 37,099,702 shares - Hole 19 includes 6.5 metres of 5.3% copper, 1.4 lbs/t cobalt, 1.3 lb/t bismuth, 0.80 g/t gold and 30.0 g/t silver, within - 50 metres grading 1.6% copper, 0.9 lb/t cobalt, 0.5 lb/t bismuth, 0.32 g/t gold and 9.2 g/t silver, within - 140.5 metres of 0.6% copper, 0.6 lb/t cobalt - Strong indications of zinc
CALGARY, Aug. 21 /CNW/ - Stratabound Minerals Corp. (TSX.V:SB) is pleased to release assay results from drill holes CP-18 and CP-19 on its 100%-owned Captain copper-cobalt property near Bathurst, New Brunswick.
Results from the first 17 holes have been reported previously and are available on the company's website, www.stratabound.com.
Hole 19 was drilled vertically 64 metres west of (downdip from) Hole 17, which intersected mineralization near surface.
------------------------------------------------------------------------- Drill From To Length Cu Cu Co Bi Zn Gold Silver Hole Metres Metres Metres % lbs/t lbs/t lbs/t % g/t g/t ------------------------------------------------------------------------- CP-19 143.5 284 140.5 0.58 12.78 0.63 0.17 0.13 3.5 ------------------------------------------------------------------------- Incl. 148.5 198.5 50 1.59 35.13 0.89 0.45 0.14 0.32 9.2 ------------------------------------------------------------------------- Incl. 163 189.5 26.5 2.50 55.01 0.85 0.70 0.24 0.48 14.5 ------------------------------------------------------------------------- Incl 168.5 184.5 16 3.27 72.16 1.04 0.95 0.37 0.64 19.2 ------------------------------------------------------------------------- Incl 168.5 169 0.5 5.3 116.84 0.60 4.85 0.07 1.45 32.5 ------------------------------------------------------------------------- & incl 172 184 12 3.85 84.96 1.27 1.00 0.47 0.71 22.4 ------------------------------------------------------------------------- Incl Zinc Zone 172 174.5 2.5 2.83 62.30 1.69 0.16 1.94 0.92 18.7 ------------------------------------------------------------------------- & Incl 175.5 182 6.5 5.31 117.01 1.38 1.27 0.11 0.80 30.0 ------------------------------------------------------------------------- Incl 178 179.5 1.5 8.6 189.60 1.60 2.21 0.28 1.37 6.17 -------------------------------------------------------------------------
Cobalt in Hole 19 is disseminated remarkably evenly along a 140.5 metre intersection (143.5 m to 284 m). The other metals of interest are concentrated within a 50 metre portion near the top of this mineralized interval (148.5 m to 198.5 m). This 50 metre section exhibits an excellent average grade of 1.59% copper, 0.89 lb/t cobalt, 0.45 lb/t bismuth, 0.32 g/t gold and 9.2 g/t silver and contains intervals at higher grades including 6.5 metres of 5.3% copper, 1.4lbs/t cobalt, 1.3 lb/t bismuth, 0.80 g/t gold and 30.0 g/t silver.
By comparison, Hole 17, as recently reported, returned assays including 6.5 metres of 3.7% copper, 0.9 lb/t cobalt, 2.1 lb/t bismuth, 0.87 g/t gold and 26.4 g/t silver (or 19.5 m. of 1.9% Cu, 0.8 lb/t Co, 1.1 lb/t Bi, 0.50 g/t Au and 13.2 g/t Ag) within a 74 metre intersection of 0.6% copper, 0.8 lb/t cobalt, 0.3 lb/t bismuth, 0.21 g/t gold and 4.2 g/t silver.
Cross-section 90N (website Map 15C) has been updated to include Hole 19, and will be updated again when results from Hole 20, the westernmost hole shown on the section, are confirmed and published. The deposit is dipping to the west on this section, and true widths are estimated to be about 60% of vertical core lengths.
The presence of significant zinc in Hole 19, together with an apparent strong magnetic anomaly (see new website Map 15E) indicated on government airborne geophysical maps, which implies the presence of magnetite iron formation, raises the possibility of an undiscovered, exhalative lead-zinc-silver massive sulphide deposit at depth to the west of the holes drilled to date. Future drilling will include some deep holes to test this possibility.
Magnetic iron formations and chloritic copper-bearing alteration pipes resembling Captain mineralization are commonly associated with the nearby Bathurst base metal mines in which lead-zinc-silver massive sulphides comprise the bulk of the ore (e.g. Brunswick No. 12, Brunswick No. 6, Heath Steele and the Half Mile Lake deposit). Furthermore, Stratabound has previously mined economic lead-zinc-silver ore less than a mile away from Captain on its CNE claims.
Hole 18, the northernmost location to date, was drilled vertically 60 metres north of Hole 19. Low-grade copper-cobalt mineralization is present for 38.5 metres within a cobalt-bearing pyritic "envelope" stretching for 140.5 metres (143.5 m to 284 m). This hole appears to intersect a pyritic fringe adjacent to the mineralized zone of greatest interest.
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From To Length Cu Cu Co Gold
Drill Hole Metres Metres Metres % lbs/t lbs/t g/t
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CP-18 106 144.5 38.5 0.24 5.29 .32
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Incl. 122 134 12 0.43 9.48 0.40
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Cobalt
Envelope 69 209.5 140.5 0.43
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Incl 161 206.5 45.5 0.72
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Incl. 161 162.5 1.5 1.43
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& Incl. 168 175.5 7.5 1.20
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& incl 199.5 205.5 6 1.55
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Incl 199.5 200.5 1 0.26 5.66 3.58 0.28
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& 204 205.5 1.5 2.63 0.13
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Drill Hole Collar Information for Captain Holes 18 and 19:
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Hole Northing Westing Elevation Depth Azimuth Dip
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08-18 155 272 149.33 287 90 -88
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08-19 94.9 278.8 148.37 311.6 90 -88
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Results of additional drill holes will be announced shortly.
Half-core samples from Holes 18 and 19 were assayed at Eastern Analytical Ltd. of Springdale, Newfoundland. The exploration at Captain is under the supervision of John Duncan, P.Geo. 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 is a Canadian junior mining and exploration company currently exploring for precious and base metals in several areas of New Brunswick, Ontario and Quebec.
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.
