RE: results today - angrybill
Stratabound drills 21 m of 1.02 g/t Au at Elmtree
2007-02-28 10:58 ET - News Release
Mr. Stan Stricker reports
STRATABOUND REPORTS MORE DRILL RESULTS FROM ELMTREE GOLD
Stratabound Minerals Corp. is releasing additional assay results from the drilling program on its 100-per-cent-owned Elmtree gold property near Bathurst, N.B. Results from six holes were released on Jan. 24, 2007 (see news in Stockwatch). Results from seven additional holes are reported in the accompanying table. Results continue to be encouraging, with significant new developments.
Hole 06-30 was drilled on Section 800E, about 950 metres along strike from the West Gabbro zone gold deposit. The hole encountered mineralization in a wide, strong fault zone, 80 metres north of the main Ordovician/Silurian unconformity/fault. The newly discovered fault cuts argillites of the Ordovician plate. A 21-metre interval averaged 1.02 grams per tonne gold, 18.58 g/t silver and 1.22 per cent zinc, including 1.5 metres of 6.91 g/t gold, 55.83 g/t silver, 6.40 per cent zinc, 0.33 per cent lead and 29.78 g/t indium.
Hole 06-29, located 105 metres south of 06-30 on Section 800E, has discovered another new mineralized intrusive body, felsic in composition, within calcareous siltstones of the Silurian plate. A 10-metre interval grades 1.05 g/t gold. The company's exploration model predicted that multiple mineralized intrusive bodies of varying composition would be found along a corridor 1.8 kilometres long and 200 metres wide, tracking the Ordovician/Silurian unconformity. The model appears to be working well in light of the gabbro-hosted gold recently reported in hole 06-25 (11.0 metres averaging 2.53 g/t gold, including 4.5 metres grading 5.36 g/t); the felsite-hosted gold intersection in hole 06-29; and a felsite intrusion grading 2.17 g/t gold across 4.5 metres in hole DH 06-28, located 400 metres west of 06-29.
Holes 06-19, 06-20, 06-26 and 06-28 were reconnaissance drill holes into the property-wide IP resistivity feature described in the Jan. 24, 2007, news in Stockwatch. Holes 06-19, 06-20 and 06-26 encountered disseminated low-grade gold (0.48 to 1.88 g/t) across intervals of 0.5 to 26.0 metres on Sections 400E, 375E and 515E, respectively, mostly in Silurian altered siltstones and grits cut by thin dikes. Hole 06-28 on Section 400E recovered 6.5 metres grading 2.52 g/t gold, including 2.0 metres of 4.36 g/t, in altered Silurian siltstone and grit.
Hole 06-23 on section 450 E intersected fault-hosted gold-silver-lead-zinc mineralization in argillites in the Ordovician plate, returning good grades across intervals of 0.5 to 3.5 metres, for example, 1.5 metres of 2.40 g/t gold, 141.9 g/t silver, 0.82 per cent lead and 0.73 per cent zinc.
The latest drill program completed 23 new holes (06-19 to 06-41), and re-entered and extended two previously drilled holes (06-3 and 06-14) for a total of 3,893 metres. These 25 holes are situated on sections 300W to 825E, a distance of 1.125 kilometres along strike, and test several roughly parallel mineralized zones and crosscutting veins.
Assay results from the seven new holes are presented in the accompanying table. True widths have not been determined. Results from additional holes will be released following compilation and verification.
Anti- Ind- From --
Drill Width Gold Silver Lead Zinc mony ium to
Section hole metres g/t g/t % % % g/t metres
375E 06-20 0.5 1.21 82.5-83.0
26.0 0.50 120-146
Incl. 1.0 1.36 130-131
& incl. 3.0 1.48 138-141
400E 06-19 2.0 0.83 21.8 0.75 0.65 0.55 4.50 37.2-39.2
5.5 0.48 55-60.5
5.0 0.98 122-127
1.5(*) 1.15 149.5-151(*)
400E 06-28 5.0 0.30 43.5-48.5
7.5 2.20 53.5-61
Or 6.5 2.52 54-60.5
Incl. 0.5 7.72 55.5-56
& incl. 2.5 3.94 0.16 57.5-60
1.0(*) 1.12 69-70(*)
6.5 0.36 80.5-87
4.5 2.17 7.32 0.56 0.45 0.46 2.62 122.5-127
Incl. 2.5 3.33 11.03 0.99 0.87 0.81 4.59 123.5-126
Incl. 1.0 4.91 9.01 0.78 0.78 0.73 2.82 124-125
450E 06-23 7.5 0.44 5-12.5
Incl. 3.0 0.73 9.5-12.5
0.5 0.49 123.0 2.75 2.81 0.09 6.28 34-34.5
1.5 0.75 84.5-86
3.5 1.11 64.9 0.37 0.52 4.96 89.5-93
Incl. 2.0 1.83 108.6 0.62 0.81 0.10 7.69 89.5-91.5
Incl. 0.5 3.20 385.0 2.26 0.89 0.36 2.14 90.5-91
515E 06-26 1.0 1.88 13.2 0.58 8.4 43-44
1.0 1.67 129.5-130.5
6.0 0.75 148-154
800E 06-29 0.5 0.88 56-56.5
4.5 0.47 10.0 0.27 0.29 0.22 59-63.5
1.0 0.83 70-71
1.0 1.67 77-78
8.0 0.46 110.5-118.5
Incl. 1.5 1.14 114.5-116
11.5 0.95 122-133.5
Or 10.0 1.05 122.5-132.5
Incl. 6.5 1.36 122.5-129
Incl. 2.0 2.10 122.5-124.5
& incl. 2.5 1.41 126.5-129
800E 06-30 21.0 1.02 18.58 0.14 1.22 5.97 101.5-122.5
Incl. 3.5 3.74 47.30 0.33 4.96 25.79 103-106.5
Incl. 1.5 6.91 55.83 0.31 6.40 29.78 104.5-106
Incl. 0.5 14.35 75.40 0.26 3.14 0.10 14.65 104.5-105
& incl. 1.5 2.37 31.22 0.28 2.31 10.25 108.5-110
& incl. 2.0 1.28 66.03 0.47 1.26 116.5-188.5
(*) Additional samples taken, assays awaited.