(Main Discovery area map via Stratabound Minerals Corp. Click to enlarge.)
Stratabound Minerals Corp. (TSX-V.SB, OTC Pink: SBMIF, Forum) announced this week that it had concluded an arms-length option agreement to acquire an additional 78 quartz mining claims covering an area of 15.7 km2 adjacent to and along strike of its Golden Culvert and Little Hyland projects in the southeastern Yukon Territory. The Company now controls a total of 99.1 km2 along approximately 28 km of favourable strike in the developing Hyland Gold Trend.
Located along the main Golden Culvert Gold Trend, the Win Option projects approximately 11 km directly southeast of the Main Discovery area. The Win Option has been subjected to minimal historic exploration which has neither been gold-focussed nor occurring within the projected gold trend. Even so, one historic off-trend grab* sample yielding 0.52 g/t gold,100 g/t silver and 0.63% lead has been confirmed by the Company's 2020 due diligence site investigation which yielded two outcrop samples assaying 0.64 g/t gold, 155 g/t silver,1.25% lead and, 0.46 g/t gold, 28.8 g/t silver, respectively.
Stratabound President and Chief Executive Officer R. Kim Tyler stated that the Company can expect increased opportunity following the successful option agreement’s conclusion on the Win Property, as it affords to find more gold occurrences such as found to date along the Golden Culvert and the parallel 3 Aces trends.
“We look forward to including it in our exploration plans along with the Golden Culvert and Little Hyland Projects in 2021.”
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SB made news recently when it closed a non-brokered private placement. The Company raised proceeds of
$2,056,971.83 through the sale of 6,635,393 shares at a price of $0.31 per share.
Proceeds will be used for holding costs to maintain the Company's exploration properties, acquisitions, and for general corporate working capital purposes.
CEO Tyler Commented: “This non-brokered private placement was taken up in its entirety by a well-regarded, long term American institutional investor who sees the underlying value and long-term growth potential in our Company. We are pleased to include them along with our other recent long-term investors.”
FULL DISCLOSURE: Stratabound Minerals Corp. is a client of Stockhouse Publishing.