Stratabound intersects grades of 30.4% zinc at CNE; finds copper-cobalt zone
similar to Captain; silver assays up to 1,058.5 g/t
SB: TSX Venture Exchange Issued: 54,713,168 shares
In the company's previous news release, dated
CNE-09-02 was collared about 30 metres northwest of CNE-09-01. Hole 2 intersected a near-surface zone of zinc-lead-silver sulphides and a lower zone of copper-cobalt-silver sulphides. Both zones are within potential open pit depth.
A potentially significant exploration feature, a chlorite-carbonate-sulphide iron formation was intersected lower in the hole at a depth of 101.6 to 105.5 metres, containing highly elevated levels of zinc, copper, antimony, silver, arsenic and gold, as well as cobalt averaging 0.053% (1.17 lb/t). Iron formations are typically associated with the large massive sulphide deposits of the Bathurst Camp.
CNE-09-03 was collared about 20 metres southwest of CNE-09-01. Hole 3 intersected a near-surface 45 metre section of zinc-lead-silver mineralization. This interval contains 9.5 metres of high-grade material assaying 11.6% zinc, 3.0% lead and 144.0 g/t silver, including a 2.0 metre ultra-rich interval of 30.4% zinc, 5.9% lead and 159.0 g/t silver. A photo of this mineralization can be viewed on the home page of the company's website, www.stratabound.com.
As in Holes 1 and 2, precious metal credits are an important component of the mineralization. The peak silver value in Hole CNE-09-3, was 790.0 g/t (23.1 oz/t) from 26.5m to 27.0m. A second sample was taken from this interval which was assayed and returned a grade of 1,058.5 g/t (30.9 oz/t), confirming the high-grade nature of the original sample. Best gold interval is 15.5m to 25m, 9.5 metres averaging 0.49 g/t, with a peak value of 1.79 g/t.
------------------------------------------------------------------------- CNE-09-02 Lead-Zinc-Silver Zone ------------------------------------------------------------------------- From To Interval Zinc Lead Zinc+Lead Silver Gold Metres Metres Metres % % % g/t g/t ------------------------------------------------------------------------- 18 34.5 16.5 3.97 1.04 5.01 26.76 0.16 ------------------------------------------------------------------------- incl ------------------------------------------------------------------------- 18 24.5 6.5 6.67 1.37 8.04 33.72 0.37 ------------------------------------------------------------------------- incl ------------------------------------------------------------------------- 21.5 24.5 3.0 9.12 1.25 10.37 25.68 0.57 ------------------------------------------------------------------------- Copper-Cobalt Zone ------------------------------------------------------------------------- From To Interval Copper Cobalt Cobalt Zinc Silver Gold Metres Metres Metres % % lb/t % g/t g/t ------------------------------------------------------------------------- 44.5 56 11.5 1.28 0.041 0.90 0.68 13.06 0.14 ------------------------------------------------------------------------- CNE-09-03 ------------------------------------------------------------------------- From To Interval Zinc Lead Zinc+Lead Silver Gold Metres Metres Metres % % % g/t g/t ------------------------------------------------------------------------- 15.5 60.5 45 4.30 0.98 5.28 47.6 0.24 ------------------------------------------------------------------------- incl ------------------------------------------------------------------------- 15.5 44.5 29 5.66 1.34 7.00 65.6 0.24 ------------------------------------------------------------------------- incl ------------------------------------------------------------------------- 18 27.5 9.5 11.57 3.04 14.61 144.0 0.37 ------------------------------------------------------------------------- incl ------------------------------------------------------------------------- 18 23.5 5.5 16.63 4.59 21.22 118.0 0.35 ------------------------------------------------------------------------- incl ------------------------------------------------------------------------- 19 21 2 30.40 5.90 36.30 159.0 0.24 ------------------------------------------------------------------------- * Drillholes CNE-09-02 and CNE-09-03 were 150 metres and 124 metres in length, respectively. Both were inclined at 45 degrees and drilled from west to east.
Cobalt is rarely encountered in Canadian volcanogenic massive sulphide deposits, although it is known to be present in ore from Xstrata's Brunswick No. 12 Mine, the world's largest underground zinc deposit, located 20 kilometres north of CNE. Stratabound demonstrated the presence of significant amounts of cobalt at its Captain copper-cobalt deposit in 2008 (see
As at Captain, the copper and cobalt values in CNE-09-02 are contained within a stockwork of 20% to 40% pyrite stringers hosted by intensely chloritized felsic volcanic rocks. Accessory cobalt also accompanies the zinc-lead-silver mineralization in Hole 3, including 0.67 lb/t from 43m to 48m. The next drill program will include testing to see whether the CNE's copper-cobalt zone extends to depth and continues to be associated with a zinc-lead-silver zone.
Drill holes CNE 09-01 to 09-03 all collared into zinc-lead-silver sulphides, suggesting that these metals overlying the copper zone will extend westerly, and that their full width has yet to be drilled. The mineralization is believed to strike northerly and dip west.
Drillhole locations are presented as Map 15H on the company's website. The location of CNE-09-4, drilled 25 metres below Hole 1, is also shown. Hole 4 is also well mineralized, and assays are pending.
Exploration of the CNE and Captain properties is under the supervision of
The technical information contained in this release has been reviewed by
Exploration has been partly funded by a grant awarded to Stratabound under the Province of New Brunswick's Junior Mining Assistance Program.
About Stratabound Minerals Corp.
Stratabound is a Canadian natural resource company exploring and developing 100%-owned gold and base metal properties in eastern
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Certain information regarding the Company contained herein may constitute forward looking statements. Forward looking statements may include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact. Although the Company believes that the expectations reflected in such forward looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. These statements are subject to certain risks and uncertainties and may be based on assumptions that could cause actual results to differ materially from those anticipated or implied in the forward looking statements. The Company is under no obligation to update or alter any forward looking statement. These risks include operational and geological risks and the ability of the Company to raise necessary funds for exploration. The Company's forward looking statements are expressly qualified in their entirety by this cautionary statement.
For further information: Stan Stricker, P. Geol, President, (403) 258-3630, [email protected], www.stratabound.com
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