wowwww SRD.V !!!! 52 week high before newsseems HUGE news coming....undervalued imo...float gone
Strait Gold Starts Drilling at Alicia Copper-Gold Project
Oct. 19, 2010 (Marketwire) --
TORONTO, ONTARIO -- (Marketwire) -- 10/19/10 -- Strait Gold Corporation (TSX VENTURE: SRD) is pleased to report that a program of diamond drilling has commenced at its Alicia copper-gold project in southern Peru.
The Company plans to complete 1,000-1,200 metres of drilling as the second phase of an exploration program that began in June, 2010. Results from Phase 1 indicate geophysical anomalies associated with surface skarn zones that returned values up to 13% copper and up to 3.55 grams per tonne (g/t) gold. Drilling will test several of these skarn zones and associated geophysical anomalies.
Phase 1 exploration at Alicia consisted of a program of community engagement, detailed mapping of the outcropping skarn zones, a grid sampling program and geophysical surveys. Approval to conduct drilling in Phase 2 of the exploration program required reaching a surface-rights agreement, preparing baseline archaelogical and environmental studies, and obtaining water-use approval, all of which have been achieved.
Sampling of the more than nine skarn zones largely indicated elevated copper, gold and silver values with a range of 0.03-13.05% Cu, 0.005 to 3.55 g/t gold and 0.3-100.0 g/t silver.
The Alicia Project is located within the emerging Andahuaylas-Yauri belt of mineralization that stretches across much of southern Peru. This belt hosts numerous porphyry and skarn deposits, including Xstrata's Las Bambas deposit with indicated and inferred resources of 1.1 billion tonnes grading 0.77% copper and Antares Minerals' Haquira deposit with a measured and indicated resource of approximately 561 million tonnes grading 0.49% copper and 0.33 g/t gold, both located within approximately 40 km of Alicia.
Quality Control and Quality Assurance
Samples consist of rock chips collected from outcrop either in a channel typically two to three metres in length or in a panel covering four to six square metres. Samples were transported to ALS Chemex preparation facilities in Arequipa by Strait Gold personnel. Following sample preparation, samples were couriered to ALS Chemex facilities in Lima, Peru, for analysis. ALS Chemex is an ISO 9001:2000 registered laboratory. Samples were analyzed for gold by fire assay followed by atomic absorption spectroscopic (AAS) finish and by gravimetric finish for samples exceeding the upper limit of analysis (over limit). Silver, copper, lead and zinc, together with 30 other elements, were assayed by inductively coupled plasma-atomic emission spectrometry (ICP-AES) following aqua regia dissolution. Over-limit silver (greater than 100 ppm), and copper (greater than 10,000 ppm) samples were re-assayed by AAS. Strait Gold routinely carries out a program of quality assurance/quality control (QA/QC) that includes insertion of blanks, standards and duplicates into the sample stream to verify results prior to dissemination.
All of the company's exploration programs are prepared by, or prepared under the supervision of, Dr. Roger Moss, P.Geo., who serves as the Qualified Person as defined by NI 43-101, and is a Director of the Company. Dr. Moss has reviewed the technical content of this news release.
About Strait Gold Corporation:
Strait Gold Corporation is a Canadian mineral exploration company active solely in Peru and listed on the TSX Venture Exchange. It has an option to earn a 100% interest in the Alicia copper-gold property in Cusco Department approximately 500 km southeast of Lima, the capital of Peru, and holds a 100% interest in both the Letra Rumi South copper-silver property and the Culebrilla gold-silver property, both in Ancash Department approximately 250 km north of Lima. To learn more about Strait Gold, please visit our website at
www.straitgold.com.