TORONTO, Sept. 18, 2018 (GLOBE NEWSWIRE) -- Stratabound Minerals Corp. (TSXV: SB) (“Stratabound” or “the Company”) announces that the Company expects to be able to provide a summary of drilling results for this summer’s exploration program at the Golden Culvert Project located in the Hyland Valley Gold District, southeastern Yukon Territory, by mid-October. Diamond drilling of eight holes across 500 metres of strike length was completed in late August. The drill core was transported to Whitehorse, Yukon Territory, where it was logged, split and sampled. All core samples were submitted for analysis by September 10. At the present time, the Company has received analyses on approximately 15% of the samples.
All core is currently stored in Whitehorse, Yukon Territory. The Golden Culvert camp has been shut down and completely demobilized for winter.
President and CEO, R. Kim Tyler commented, "We encountered a few delays in getting the drill core logged, cut and sampled due to mechanical issues related to the rented diamond core cutting equipment utilized on site. We resolved the situation by relocating the core to a secure and professional core processing facility in Whitehorse, Yukon Territory, where it has since been processed and submitted to ALS Global Laboratories for assaying. We are expecting to receive the assay results in order to report to shareholders by mid-October. We continue to be encouraged by the visual inspection of the drill core and the partial results we have received to date.”
About the Golden Culvert and Little Hyland Properties
Golden Culvert and Little Hyland cover 83.8 square kilometres in the southeast Yukon Territory across a 24-kilometre strike located approximately 20 kilometres northeast of and parallel to Golden Predator Mining Corp.’s 3 Aces property. Work filed in Yukon mineral claims assessment reports has outlined a northerly trending, 3 kilometre by 250 metre, +30 ppb Au up to 791 ppb Au gold-in-soil anomaly that remains open at both ends. The soil anomaly is centred around partially exposed primary gold-bearing quartz veins grading between 7.7 to 22.8 gpt gold over 1 metre and complimentary gold-bearing quartz vein stockwork within a larger silicified, altered, sulphide and gold-bearing wallrock grading up to 2.27 gpt gold over 0.5 metre.
Prior to this summer’s exploration program a total of $564,400 of work had been done on the Property, including 3,645 soil samples, 48 stream samples, 239 rock samples, 19.4 line-km of ground magnetic survey and 18.5 line-km of VLF survey. This summer’s program of $0.75 million includes the completed trenching and ongoing drilling to further define the highly mineralized areas of the property.
Stratabound Minerals Corp. is a Canadian exploration and development company focused on the Yukon Territory and to a lesser extent the Bathurst Mining Camp in New Brunswick. Stratabound management has a diversified track record of exploration, development and operating successes that will facilitate the development of the Company’s exploration projects.
For further information, please see the Golden Culvert presentation and the NI 43-101 technical report on the Stratabound web site, www.stratabound.com.
For further information contact:
R. Kim Tyler, President and CEO
Ritu Gupte, Investor Relations Consultant
Neither the 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, failure to obtain regulatory, exchange or shareholder approval, 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.