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.
Commander claims
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.