Stratabound reports copper-gold-silver intersections on Commander

• 11.0 metres grading 2.04% copper, 0.49 g/t gold, and 7.48 g/t silver
• source & centre of pronounced gravity anomaly likely located south of current grid survey

SB: TSX Venture Exchange

Issued: 75,887,611 shares

CALGARY, Nov. 1, 2012 /CNW/ - Stratabound Minerals Corp. (TSX.V:SB) is pleased to announce assay results from drill hole STW-12-5, recently completed on a gravity target on a claim group optioned from Commander Resources Ltd.  The optioned property, in which Stratabound can earn up to a 65% interest, adjoins the northern boundary of Stratabound's 100%-owned CNE and Captain claims in the Bathurst Mining Camp of northern New Brunswick.

The drilling intersected several chloritic sulphide stringer zones containing copper, gold and silver, as presented in the following table:

STW-12-05	From (m)	To (m)	Core Length* (m)	Copper %	Gold g/t	Silver g/t	Lead %	Zinc %
	174	185	11.0	2.04	0.49	7.48
Including	176	177	1.0	5.45	0.99	18.00
& including	179.5	184	4.5	3.19	0.80	11.99
including	183	184	1.0	6.00	1.14	23.15
	651	652.5	1.5	1.26	0.17	6.33
	673.5	677	3.5	2.57	0.31	16.63	0.24	0.63
including	674	676	2.0	3.78	0.45	26.88	0.40	1.04
	686	687	1.0	1.34	0.10	2.50

* True widths are unknown at this stage; drill hole azimuth 267˚, inclination -60˚

The sulphides are hosted within chlorite-altered quartz augen crystal tuffs of the Nepisiguit Falls Formation, resembling the footwall stratigraphy at the Brunswick No.12 and No. 6 zinc-lead-copper-silver-gold massive sulphide deposits.  Several additional chloritic sulphide zones were intersected containing disseminated and stringer pyrite-pyrrhotite sections with lower metal values. 

A preliminary review of Stratabound's recent gravity data has been carried out.  A gravity anomaly with an indicated strength of >0.7 mgals and a width of 400 to 500 metres is present, representing a very significant gravity target response in the Bathurst camp.  The ultimate extent of the gravity anomaly is unknown, but it is at least 350 metres in length, and continues beyond the north and south boundaries of the present grid.  The fact that both anomaly amplitude and anomaly width increase to the south is a clear indication that the centre of the gravity anomaly is situated to the south of the grid.

The current indications of a 0.7 to 0.9 mgal gravity anomaly on a south-plunging, mineralized conductor trend represent an extremely attractive exploration situation.  If the gravity response is indeed due to deep lead-zinc-silver massive sulphides, then a gravity response close to 1 mgal suggests an excess mass in the order of the larger deposits in the district because it is well known that gravity response amplitude drops off rapidly with target depth (see article of interest entitled "Gravity Prospecting for Massive Sulphide Deposits in the Bathurst Mining Camp" on website www.stratabound.com).

Stratabound plans to extend the gravity grid coverage south for another 900 metres as part of the next exploration program.

Further drilling is anticipated after additional geophysical definition of the target.

The exploration at the Commander property is under the supervision of John Duncan, P.Geo.  Drill core is securely stored at Stratabound's core shack facility in Bathurst.  Analysis of half-core samples was done by Eastern Analytical Limited of Springdale, NL.  Stratabound has Quality Control and Quality Assurance protocols in place for drill core that include blank samples, duplicate samples, certified standards and third party check samples.

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.

Stan Stricker, P. Geol, President
403-258-3630
[email protected] 
www.stratabound.com