SB: TSX Venture Exchange
CALGARY, Dec. 10, 2014 /CNW/ - Stratabound Minerals
Corp's. 2014 exploration activities near Bathurst, New Brunswick, have been directed
towards the discovery of base metal massive sulphide deposits on
its Captain, CNE, Taylor Brook and Commander Option claims, and
gold/base metal mineralization on its Green Point property.
To this end, a variety of geophysical, geochemical, trenching,
and drilling programs have been ongoing throughout 2014.
Captain and Commander
The company is currently
receiving, compiling, and evaluating results from recent drilling
on the Captain property (8 holes), while sawing drill core and
submitting samples for assay from a drill program just completed on
the Commander claims (6 holes).
Positive results have been received from exploration this summer
at CNE, Taylor Brook, and Green Point, as reported below.
CNE
Last year, drill hole CNE-13-26 identified
the contact between the mineralized, chloritic Nepisiguit Falls
Formation footwall of the CNE zinc-lead-silver deposit and the
unmineralized Flat Landing Brook Formation. This led
Stratabound to undertake a soil sampling program southward along
the projected contact, intended to search for additional massive
sulphide mineralization. An exceptionally strong soil anomaly
has been outlined over an area of at least 130 metres x 100 metres,
directly overlying the southern projection of the CNE footwall
about 100 metres southeast of the filled-in pit (see map dated
December 9th, 2014 on
www.stratabound.com home page).
A central portion of 95 metres x 65 metres contains on average
2.50% zinc (range 0.28% to 11.0%), 0.61% lead (range 306 ppm to
1.93%), and 271 ppm copper (range 58.1 ppm to 1,240 ppm).
Additional assays have just been received, but have not yet been
incorporated into the anomaly map. These additional sampling
locations, shown as red dots on the map, indicate that this
exceptional metals-in-soil anomaly remains open to the north and
northeast.
The samples were collected by auger from depths of 3.5 to 4.0
feet and are rich in organic materials, but several basal till
samples were also recovered. One sample site returning 11.0%
zinc was resampled. This sample was panned, separating the
organic material and coarse- to fine-grained fractions of basal
till rubble. These samples were submitted to the Geological
Surveys Branch of New Brunswick Department of Energy and Mines, and
analyzed by X-ray fluorescence, also returning percentage-level
values in zinc and lead, and strengthening the possibility that the
anomaly may be an indication of an undiscovered sulphide zone in
the underlying footwall rocks. Further confirmation by wet chemical
techniques is pending.
It remains to be determined whether this anomaly is entirely due
to the known CNE Deposit or whether it is in part due to as-yet
undiscovered sulphide mineralization. The continuation of
percentage-level zinc and lead values below the organic soil layer
into the underlying basal till strengthens the possibility that the
anomaly is an indication of an undiscovered sulphide deposit in the
footwall. The anomaly is clearly not due to Stratabound's limited
2013 mining activity, but would have taken millennia to form
following retreat of the glaciers that once covered northern
New Brunswick.
Drill hole CNE 13-26 has been re-logged and the mineralized
intersection representing the footwall contact has been sent out
for analysis. Follow-up investigation is planned in 2015.
Taylor Brook
One hole was drilled on Taylor
Brook, intersecting a total of 10.7 metres of semi-massive to
massive sulphides with good lead-zinc-silver grades in two zones
beneath a magnetite iron formation (news release dated November 11, 2014). Increases in thickness
and grade compared with the intersections located 80 metres up-dip,
combined with strong geophysical responses and limited drilling,
indicate good exploration potential for future drilling. More
specifically, the potential of the 350 metre long eastern half of
the Taylor Brook sulphide zone has been upgraded, east of a
relatively high grade "channel" containing 3% to 8% lead-zinc found
by Stratabound in 1995/96. Intermittent drilling by various
parties beginning in 1978 indicates an extensive blanket of pyritic
massive sulphides along a strike length of at least 650 metres, and
a down-dip extent of greater than 600 metres, open in all
directions, providing ample room for discovery of economic
accumulations.
Green Point
The 2014 geophysical surveys on
Green Point have successfully identified electromagnetic (MaxMin
and VLF) features that are thought to reflect late stage
cross-cutting mineralization along trend from a 400 metre long
airborne electromagnetic anomaly that was detected in 2001 and
drill tested in 2003 by a previous owner. The 2003 drilling
intersected an alteration zone containing 1.17 g/t gold over a 15.5
metre core length, and other auriferous zones within the airborne
trend. Additional soil geochemical sampling and EM surveying
of Green Point is warranted to outline 2015 drill targets.
Within the last month, trenching by another party on claims
adjoining Green Point has uncovered copper veins with interesting
grades and widths along a 75 metre length, near Stratabound's
southwestern boundary.
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.