Vancouver, British Columbia–(Newsfile Corp. – November 18, 2020) – Stratabound Minerals Corp. (TSXV: SB) released results from this summer’s Phase 1 field program at its flagship Golden Culvert Project in the Yukon Territory. The company reported surface samples up to 320 grams per tonne gold with visible gold from quartz and quartz breccia surface float samples at the Golden Culvert Project, located 25 kilometers north of Seabridge Gold’s high-grade 3 Aces Project.
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A surface geochemistry sampling program outlined a 1 km long by up to 100 m wide gold-mineralized boulder field of surface float-trains linking likewise gold-mineralized quartz vein structures exposed in outcrop, subcrop and trenching in previous programs either side of the Main Discovery outcrop. The top 10% highest grade samples were distributed across 670 metres of strike, 290 metres of vertical relief and included 320.0 g/t, 155.0 g/t, 147.0 g/t, 118.0 g/t with visible gold, 92.9 g/t with visible gold, 41.8 g/t, 26.6 g/t, 25.2 g/t, 17.10 g/t, and 16.55 g/t gold.
All 93 surface samples averaged 13.27 g/t gold uncapped and ranged between less than 0.01 g/t to 320 g/t gold. Sixty-five, or 70% of the samples ranging between 0.25 g/t to 320 g/t gold, averaged 18.96 g/t gold uncapped. Visible gold was identified in two of the samples that assayed 118.0 and 92.9 g/t gold and only two samples in the group were below assay detection limits of less than 0.01 g/t gold.
R. Kim Tyler, President and CEO, stated: “This continued evidence of high-grade gold in the region further exemplifies the 5,401 g/t gold discovery in 2003 at the nearby 3 Aces property located 25 km to the south of our Project and recently acquired by Seabridge Gold, a $1.7 billion market capitalized gold development company and a significant new presence in our neighbourhood. We believe we are at the very early stage of the next significant North American gold district. We look forward to receiving assay results from our recently completed latest phase of drilling, just below the float-trains and subcrops.“
The 2020 diamond drill program has concluded as required under the time frames allowed within the company’s Class 3 exploration permit, with 17 diamond drill holes completed for a total of 3,217 metres across one kilometre of strike length. The diamond drill program focussed directly under the gold-mineralized float-trains previously described and are detailed on the map. The company expects these initial assay results in late December.
Eight diamond drill holes totaling 1,370 metres and 24 surface trenches reported in previous exploration programs have intersected and outlined a 970-metre-long by 130-metre-wide mineralized corridor containing multiple parallel gold-bearing structures that have been targeted for definition and extensional drilling this season.
A total of 25 diamond drill holes comprised of 4,587 metres along with 24 trenches have been completed over 1 kilometre of strike.
R. Kim Tyler added: “The unique and special feature of our Golden Culvert region, and the Yukon in general, is that it was once a land-bridge during past ice-ages connecting North America with Asia, and was not covered by kilometres-thick flowing continental ice sheets as most of the remaining North American continent was. The significance is that much of the gold found lying about in float-trains linking gold-bearing outcrop on surface here at the Golden Culvert remains at, or near, its sources. Mineralization has not been scraped clean and transported thousands of kilometres away, nor have these sources been covered and hidden by thick accumulations of glacial till and overburden as has occurred elsewhere on the continent. This makes our exploration work of simply following the trains of mineralized boulders especially simple, effective and rewarding. The evidence for significant high-grade gold mineralization in our district lies, literally, at our feet as this work program has clearly demonstrated.”
Stratabound recently increased its holdings at its McIntyre brook Iron Oxide-Copper-Gold project in Northern New Brunswick, bringing its total land package to 59.5 square kilometres.
The company is well funded, having raised approximately $6.7 million over the last two months.
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