Highlights:
- Includes a high-grade core grading up to 4.06% Cu, 0.048% Co, 0.881 g/t Au and 17.5 g/t Ag for a 5.13 CuEq% (1) across 1.3m true width.
- Drilling designed to evaluate high-grade, near-surface copper/cobalt/gold/silver mineralization across 120m of strike and 8m average true width.
- Assays pending on nine more holes.
- Project located 100km by road to the deep-water port of Belledune, New Brunswick and 40km by road to the nearest railroad.
- Company investigating small-scale, high-grade, direct-shipping mining project to generate near-term cash-flow.
Stratabound Minerals Corp. (TSXV: SB) (OTC Pink: SBMIF) (“Stratabound” or the “Company”) reports initial assay results for the first six of fifteen drill holes completed on its 100% owned Captain copper/cobalt/gold/silver Deposit located along the “Brunswick Horizon”, within a 20km radius and the same stratigraphic contact that hosts the world-class Glencore Brunswick No.12 and No.6 mines with past production totaling an aggregate 149.4 million tons of 8.72% zinc, 3.3% lead, 0.35% copper and 99 g/t silver,(2) (Figure 3.) The Captain is a volcanic massive sulphide, or VMS-type deposit, similar to the above described deposits, (2) (source: Government of New Brunswick DNR Mineral Occurrence Database).
The Captain Deposit is also strategically located 100km by road access south of the deep-water port of Belledune near Bathurst, New Brunswick.
1,100 metres of drilling were completed on December 3, 2020. Assay results are only now being received due to heavy back-logs in commercial assay labs. The Captain Deposit hosts an NI 43-101 Measured and Indicated Resource totaling 448,000 tonnes averaging 1.75% Cu, 0.046% Co, and 0.30 g/t Au for a 2.2% CuEq%(1), plus an inferred resource of 162,000 tonnes averaging 1.47% Cu, 0.04% Co and 0.24 g/t Au for a 1.87% CuEq%(1), (“Technical Report on an Updated Mineral Resource Estimate, Stratabound Minerals Corp. Captain Cu-Co Deposit”; Mercator Geological Services Limited, Dec. 8, 2010).
Drilling on the Captain Deposit now totals 10,452m over 53 holes across 120m of strike and is open beyond the deepest intersection to date at 359m yielding 1.12% Cu over a down-hole length of 19.5m including a 2m interval of 5.46% Cu, 0.093% Co, 0.30 g/t Au and 30.5 g/t Ag in hole CP-09-23.
The drill holes reported on today were designed to confirm near-surface grade and continuity to define and investigate the opportunity for a small-scale, high-grade mining project. All holes completed on this program to date are presented in Figures 1 and 2 and detailed in Table 1 below.
Mr. R. Kim Tyler, President and CEO of the Company commented, “The Captain Deposit provides a small but lucrative high-grade opportunity for direct shipping copper/cobalt/gold/silver feed to custom processing plants either locally, regionally or internationally. To that end, Stratabound has been contacted by reputable agents that purchase direct-shipping run-of-mine ore and concentrates and sell to custom processing plants internationally. The Captain Deposit’s road access, close proximity to a rail head and the deep-water port at Belledune near Bathurst, New Brunswick allows for the possibility of monetizing this asset via micro-capital intense, small-scale mining and delivery of high grade product through truck, rail or marine shipping. Given the recent surge in copper and cobalt prices and the healthy outlook for both of these battery metals we are more than obliged to review this asset for its direct cash-generating opportunities.”
“We nevertheless remain tightly focussed on advancing our flagship Golden Culvert and secondarily our McIntyre Brook early-stage exploration projects in exciting, new gold districts developing in the Yukon Territory and northern New Brunswick respectively. We will not, however, overlook any and all opportunities to develop our non-core assets such that they may generate significant cash-flow for funding our core assets and provide for shareholder value without dilution through capital raises.”
| Drill Hole | UTM NAD 83 Northing | UTM NAD 83 Easting | Azimuth: | Dip: | From: (m) | To: (m) | Length: (m) | True Width (m) | Cu% | Co% | Au g/t | Ag g/t | CuEQ%(1) |
| CP-20-41 | 282389 | 5240656 | 110 | -50 | 21.4 | 25.9 | 4.5 | 3.8 | 1.30 | 0.038 | 0.216 | 5.6 | 1.72 |
| includes: | 22.0 | 23.0 | 1.0 | 0.8 | 2.49 | 0.060 | 0.544 | 11.5 | 3.34 | ||||
| CP-20-41B | 282388 | 5240656 | 110 | -70 | 32.1 | 44.6 | 12.5 | 6.5 | 1.09 | 0.047 | 0.171 | 5.00 | 1.53 |
| includes: | 39.3 | 40.5 | 1.2 | 0.4 | 2.06 | 0.069 | 0.243 | 10.6 | 2.74 | ||||
| CP-20-41C | 282387 | 5240657 | 120 | -90 | 44.4 | 55.5 | 11.1 | 7.5 | 1.78 | 0.032 | 0.316 | 8.1 | 2.26 |
| includes: | 45.1 | 51.2 | 6.1 | 4.1 | 2.47 | 0.032 | 0.457 | 11.6 | 3.10 | ||||
| includes: | 46.5 | 48.4 | 1.9 | 1.3 | 4.06 | 0.048 | 0.881 | 17.5 | 5.13 | ||||
| CP-20-44 | 282378 | 5240723 | 85 | -45 | 15.0 | 19.2 | 4.2 | 4.0 | 1.23 | 0.061 | 0.190 | 4.9 | 1.77 |
| CP-20-50 | 282377 | 5240722 | 85 | -80 | 40.5 | 43.2 | 2.7 | 2.0 | 2.18 | 0.041 | 0.037 | 6.2 | 2.51 |
| CP-20-52 | 282395 | 5240631 | 110 | -45 | 9.3 | 12.9 | 3.6 | 3.1 | 0.92 | 0.039 | 0.122 | 4.1 | 1.27 |
(1) CuEq% based on CuEq%= ((Cu lb/t*US$3.75.lb) +(Co lbs/t*US$20/lb) +(Au g/t*0.03215*US$1,750/oz) +(g/t Ag*0.03215*US$25/lb))/US$3.75/lb Cu insitu value and does not account for metallurgical, refining or other losses.
Figure 1. Section 060N: All widths posted are true widths.
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/4064/75399_b63a1e2b74ec7ab8_003full.jpg
Figure 2. Recent and historic drill results within 15m of surface. All widths posted are true widths.
To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/4064/75399_b63a1e2b74ec7ab8_004full.jpg
Figure 3. Captain Deposit location relative to Glencore and regional base metals mines.
To view an enhanced version of Figure 3, please visit:
https://orders.newsfilecorp.com/files/4064/75399_stratafigure3enhanced.jpg
Quality Assurance/Quality Control
The core samples referenced in this press release were marked and cut by diamond saw whereby half the sample was bagged and hand-delivered by Stratabound personnel to a secure carrier and transported to the Activation Laboratories (Actlabs) preparation lab in Fredericton, New Brunswick. The remaining half-core is stored at the Madran core facility in Madran, NB.
Actlabs prepared the samples by crushing to 80% less than 10 mesh. A riffle split of 250 grams was then taken and pulverized to a 95% passing 200 mesh pulp sub-sample. The pulps were then shipped by Actlabs to its Ancaster, Ontario laboratory for copper, cobalt, gold and multi-element analyses. A 4-acid near-total digestion ICP-MS 42-element analysis was performed on all samples and a duplicate 4-acid digestion ICP-OES procedure performed where values exceeded 350ppm for cobalt and 5,000ppm for copper in the original digestion. Gold was determined separately by the 1A2 standard fire assay procedure with an atomic absorption (AA) finish on a 30-gram sub-sample taken from the 250-gram split. If the gold result exceeded 5 g/t a duplicate sample was processed by method 1A3-30.
Actlabs uses a procedure of standards, blanks and duplicates inserted into the sample stream results. Actlabs is an independent internationally recognized and ISO/IEC 17025:2017 accredited chemical analysis company.
In addition to the quality assurance and quality control program performed by Actlabs, Stratabound personnel insert lab-certified standards and field blanks into the sample stream, as well as sample duplicates, at the rate of one QA/QC sample for every 7 core samples.
About Stratabound Minerals Corp.
Stratabound Minerals Corp. is a fully-funded Canadian exploration and development company focused on gold exploration at its flagship Golden Culvert Project, Yukon Territory and its McIntyre Brook Project, New Brunswick, Canada. The Company also holds a significant land position that hosts three base metals deposits in the Bathurst base metals camp of New Brunswick featuring the Captain Copper-Cobalt-Gold Deposit that hosts an NI 43-101 Measured and Indicated Resource.
Mr. R. Kim Tyler, P.Geo., President and CEO of Stratabound, and a “Qualified Person” for the purpose of NI 43-101, has reviewed and approved the contents of this news release.
For more information please visit the company’s website at www.stratabound.ca or contact: R. Kim Tyler, President and CEO 416-915-4157 info@stratabound.com
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.