Strait contracts driller for Alicia copper-gold project in Peru
09 Agosto 2012 - 4:29PM
PR Newswire (Canada)
TSX-V: SRD TORONTO, Aug. 13, 2012 /CNW Telbec/ - Strait Minerals
Inc. ("Strait" or the "Company") is pleased to report that it has
entered into a contract for diamond drilling at its Alicia
copper-gold project in Peru with camp preparation to begin August
20 and drilling to commence shortly after. The Company has retained
Consorcio JM S.A.C. of Arequipa, Peru, to conduct an initial 6,000
metres of core drilling, a program funded by Teck Peru S.A.
("Teck"), a wholly owned subsidiary of Teck Resources Limited.
Under the terms of its option agreement with the Company, Teck must
spend $30 million on exploration (or spend $10 million on
exploration plus deliver a prefeasibility study) to earn a 75%
interest in the property. A $2-million exploration program in 2012
is mandatory. "This will be the first drilling to systematically
test the porphyry potential at Alicia," said Strait Minerals
President Jim Borland. "The property has many of the same
characteristics of other significant porphyry-style mineral
deposits in this very active copper belt. The robust values from
drilling that we completed in 2011 and the 3.4-km extent of the
soil anomaly we have sampled indicate the potential for significant
tonnage and good grades." In February, 2012, the Company received a
permit to conduct up to 10,000 metres of diamond drilling and
subsequently, in consultation with Teck, submitted modifications to
that permit in order to conduct up to 23,000 metres of drilling. A
community agreement for exploration has been in place since early
2010 and was recently renewed until February, 2014. Highlights of
the 2010-2011 drill program, full details of which are included in
news releases dated January 11, February 16 and March 29, 2011,
include: -- 33.0 metres (21.2 metres true width) grading 1.27%
copper, 0.13 grams per tonne (g/t) gold and 7.5 g/t silver in Hole
ALC10-05 (which ended in mineralization at 88.7 metres core
length), -- 129.5 metres (94.25 metres true width) grading 0.33%
copper, 0.04 g/t gold and 1.8 g/t silver in Hole ALC10-08, -- 134.0
metres grading 0.29% copper, 0.03 g/t gold and 1.8 g/t silver in
Hole ALC11-16 (true width is not applicable) and -- 198.5 metres
grading 0.16% copper, 0.02 g/t gold and 1.7 g/t silver in Hole
ALC11-17 (true width is not applicable). To test the property's
porphyry potential, proposed holes are oriented north-south on
sections spaced 200 metres apart, with six holes in the central
zone where the porphyry outcrops and the balance targeting areas
where geochemical anomalies extend to the east and west of the
central zone. Average depth is expected to be 350-400 metres.
Detailed mapping of alteration and vein/stockwork is also
continuing in the main Alicia intrusive, the target of the first
four drill holes planned for the 2012 program, including detailed
channel sampling along proposed drill sections. Mapping to date has
identified five phases of porphyritic intrusion on the property.
Rock sampling of exposed porphyry defined an anomalous copper zone
(over 0.05% copper in rock samples) measuring approximately 800 by
600 metres. Soil sampling extended that anomalous zone (over 0.1%
copper in soil samples) to 3,400 by 600 metres where the porphyry
goes under cover to the east, west and northwest of the exposed
porphyry. All of the Company's exploration programs are prepared
by, or prepared under the supervision of, Dr. Roger Moss, P.Geo.,
who serves as the Qualified Person as defined by NI 43-101 and is a
director of the Company. Dr. Moss has reviewed the technical
content of this news release. Quality Control and Quality Assurance
All sampling was supervised by Strait Minerals personnel. Samples
were securely stored in a locked room prior to transportation to
Cusco by Strait Minerals personnel. Samples were delivered to the
ALS Chemex office in Cusco and forwarded by ALS Chemex to Arequipa
for sample preparation. The resulting pulps were sent to its
laboratory in Lima, for analysis. ALS Chemex is an ISO 9001:2000
registered laboratory. Samples were analyzed for gold by fire assay
followed by atomic absorption spectroscopic (AAS) finish and by
gravimetric finish for samples exceeding the upper limit of
analysis (over limit). Silver, copper, molybdenum, lead and zinc,
together with 30 other elements, were assayed by inductively
coupled plasma-atomic emission spectrometry (ICP-AES) following
aqua regia dissolution. Strait Gold routinely carries out a program
of quality assurance/quality control (QA/QC) that includes
insertion of blanks, standards and duplicates into the sample
stream to verify results. About Strait Minerals Strait Minerals
Corporation is a Canadian mineral exploration company active solely
in Peru since 2003 and listed on the TSX Venture Exchange. It holds
a 55% interest with an option to increase that interest to 100% in
the Alicia copper-gold property which lies within the
Andahuaylas-Yauri copper belt approximately 500 km southeast of
Lima. Strait Minerals has granted Teck Peru S.A., a wholly owned
subsidiary of Teck Resources Limited, an option to earn up to a 75%
interest in the property by, among other things, spending $30
million on exploration or by spending $10 million on exploration
and delivering a pre-feasibility study. The Company also holds an
option to earn a 100% interest in the Caribe copper-molybdenum
property approximately 80 km west of Alicia and holds a 100%
interest in both the Letra Rumi South base metals property and the
Culebrilla precious metals property approximately 250 km north of
Lima. The Company continuously reviews exploration opportunities in
Peru and is actively seeking additional projects. To learn more
about Strait Minerals Inc., please visit our web site at
www.straitminerals.com. Forward Looking Statement: Some of the
statements contained herein may be forward-looking statements which
involve known and unknown risks and uncertainties. Without
limitation, statements regarding potential mineralization and
resources, exploration results, and future plans and objectives of
the Company are forward looking statements that involve various
risks. The following are important factors that could cause
the Company's actual results to differ materially from those
expressed or implied by such forward looking statements: changes in
the world wide price of mineral commodities, general market
conditions, risks inherent in mineral exploration, risks associated
with development, construction and mining operations, the
uncertainty of future profitability and the uncertainty of access
to additional capital. There can be no assurance that
forward-looking statements will prove to be accurate as actual
results and future events may differ materially from those
anticipated in such statements. Strait Gold undertakes no
obligation to update such forward-looking statements if
circumstances or management's estimates or opinions should change,
except as required by law. The reader is cautioned not to place
undue reliance on such forward-looking statements. 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.
Strait Minerals Inc. CONTACT: Jim Borland,
Presidentjborland@straitminerals.comTel.: 416-223-9970Renmark
Financial Communications Inc.Robert
Thaemlitz:rthaemlitz@renmarkfinancial.comBettina
Filippone:bfilippone@renmarkfinancial.comTel.: (514) 939-3989 or
(416) 644-2020www.renmarkfinancial.com
Copyright
(TSXV:SRD)
Gráfica de Acción Histórica
De Abr 2024 a May 2024
(TSXV:SRD)
Gráfica de Acción Histórica
De May 2023 a May 2024