SRD.V great news!! GOLD!!!!Strait Gold Intersects Copper-Gold in Every Drill Hole, Extends Mineralized Strike Length at Alicia to 600 Metres
TORONTO, ONTARIO -- (Marketwire) -- 01/10/11 -- Strait GoldCorporation (TSX VENTURE: SRD) is pleased to report further results fromthe 2010 drilling campaign at its Alicia copper-gold project insouthern Peru including Hole ALC10-08 which intersected 50.5 metres(37.2 metres true width) grading 0.64 copper, 0.08 grams per tonne (g/t)gold and 3.2 g/t silver within a wider mineralized intersection of129.5 metres (94.25 metres true width) grading 0.33% copper, 0.04 g/tgold and 1.8 g/t silver.
High grade (greater than 1% copper) mineralization was intersected inseven of the eight holes drilled over a strike length of approximately600 metres extending the strike length indicated by results from thefirst two drill holes in the program announced in a news release datedNovember 15, 2010. The drill program tested skarn mineralization alongthe northern contact of the main porphyry intrusive. This contactextends for approximately 3,000 metres surrounding the intrusive. A mapand sections of drill results are available on the Company's website atwww.straitgold.com.
"We are very excited by the potential demonstrated by these results,our first drilling on this property," said Strait Gold President JimBorland. "The continuity of mineralization is particularly encouragingand our ongoing drill program will now test the skarn zones on theeastern, southern and western porphyry contacts."
The higher grade mineralization is consistently associated with thedevelopment of bornite in the skarn. Associated copper minerals presentto varying degrees include chalcopyrite, chalcocite and native copper.Where the skarn is well developed, it is typically graded fromgreen-brown garnet skarn at the porphyry contact out through greengarnet to green pyroxene rich skarn closest to the limestone. Thehighest grades of copper mineralization frequently occur in the garnetskarn.
Hole ALC10-09, which did not intersect high grade mineralization,intersected 0.38% copper, 0.11g/t gold and 7.1 g/t silver over a truewidth of 1.54 metres indicating continuity of mineralization across theentire 600 metres that have been drill tested.
Porphyry potential
In addition to the skarn mineralization, Hole ALC10-08 intersected0.11% copper between 19.5 metres and 74 metres in altered quartzfeldspar porphyry before entering the skarn. (All holes in the 2010program were collared in the porphyry intrusive and drilled to the norththrough the skarn mineralization and into the surrounding limestone.)The main copper mineral is malachite which is associated withquartz-sericite alteration with variable magnetite.
Approximately 250 metres to the southwest of ALC10-08, historical holeAL-02, which was drilled into the quartz feldspar porphyry at aninclination of -70 degrees to the south, intersected 0.11% copper over100 metres between 52 metres and 152 metres. In contrast to HoleALC10-08, alteration consisted mainly of potassium feldspar veinlets,and weak biotite again with associated magnetite. Copper mineralizationwas dominantly in the form of chalcopyrite.
These results demonstrate the potential for porphyry style coppermineralization at Alicia which the Company will investigate in moredetail upon completion of the current drilling program.
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Total Inter- True
Hole Depth Inclin- From To section Width Cu Au Ag
# (m) ation Azimuth (m) (m) (m) (m) (%) (g/t) (g/t)
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AL-01(i) 300 -60 NA 148.0 152.0 4.0 NA 0.24 0.10 0.9
including 226.0 228.0 2.0 NA 0.15 0.01 0.2
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Al-02(i) 558.6 -70 NA 52.0 152.0 100.0 NA 0.11 0.05 0.9
including 66.0 76.0 10.0 NA 0.46 0.10 3.2
and 126.0 134.0 8.0 NA 0.56 0.17 2.7
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AL-03(i) 195.1 -60 NA No significant values
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ALC10-4+ 83.5 -45 357 40.6 66.3 25.7 20.4 1.26 0.14 6.7
including 40.6 53.3 12.7 10.3 1.87 0.23 9.5
Including 42.0 48.7 6.7 5.7 2.47 0.34 10.3
including 44.0 47.7 3.7 3.2 3.47 0.46 14.0
and 57.3 60.3 3.0 2.3 1.84 0.15 10.0
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ALC10-05+ 88.7 -65 357 55.7 88.7 33.0 21.2 1.27 0.13 7.5
including 64.0 75.8 11.0 7.1 1.79 0.13 9.5
Including 65.8 73.8 8.0 5.1 2.39 0.17 12.5
including 67.8 70.8 3.0 2.0 3.15 0.18 16.2
and 79.6 81.6 2.0 1.2 4.35 0.71 33.2
and 83.6 88.7 5.1 3.3 2.17 0.21 11.5
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ALC10-06 101.55 -60 350 57.3 60.2 2.9 2.3 0.49 0.08 2.3
68.6 70.7 2.1 0.9 5.42 0.79 75.3
75.0 91.0 16.0 11.9 0.58 0.05 4.1
including 76.0 79.0 3.0 1.9 1.78 0.16 14.0
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ALC10-07 107.3 -50 357 62.7 66.6 3.9 2.1 0.79 0.03 1.3
including 63.6 64.6 1.0 0.5 2.09 0.04 1.4
75.6 77.6 1.0 0.8 0.55 0.06 4.7
83.6 89.0 5.4 4.1 0.37 0.03 2.6
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ALC10-08 266.5 -60 0 43.0 172.5 129.5 94.2 0.33 0.04 1.8
including 74.0 124.5 50.5 37.2 0.64 0.08 3.2
including 74.0 83.55 9.55 7.8 1.76 0.21 6.6
and 104.5 109.0 4.5 2.9 1.16 0.16 7.0
115.5 118.5 3.0 1.9 0.45 0.07 3.2
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ALC10-09 65.5 -50 0 18.5 20.2 1.7 1.5 0.38 0.11 7.1
49.0 53.5 4.5 2.9 0.19 0.02 32.7
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ALC10-10 95.5 -50 0 26.0 41.0 15.0 11.2 0.61 0.06 5.4
including 26.0 30.5 4.5 2.2 1.09 0.13 5.7
43.4 62.7 19.3 13.6 0.32 0.04 18.9
including 43.4 49 5.6 4.0 0.55 0.11 10.5
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ALC10-11 110 -65 0 31.4 43.5 12.1 10.7 1.32 0.14 6.4
including 31.4 38.4 7.0 6.2 2.15 0.22 9.8
46.5 56.0 9.5 8.4 0.13 0.01 4.9
including 46.5 50.0 3.5 3.1 0.20 0.01 3.8
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(i) Historical drill hole
+ Previously released hole (see news release dated November 15, 2010)
Drilling has resumed on the project following a brief shut-down for theChristmas holiday season in Peru. The Company plans to conduct aminimum of 1,000 metres of drilling in the first quarter of 2011 to testthe remaining skarns surrounding the porphyry.
Historical holes AL-01, AL-02 and AL-03 were drilled by a privatecompany in 2003 and were reported in Strait Gold's NI 43-101 compliant2009 report which is available on the Company's web site and on SEDAR.
Quality Control and Quality Assurance
Logging, sampling and splitting of the drill core is conducted atCapacmarca by Strait Gold personnel. Samples composed of one half of thesplit core are securely stored in a locked room prior to transportationto Cusco by Strait Gold Personnel. Samples are delivered to the ALSChemex office in Cusco and forwarded by ALS Chemex to Arequipa forsample preparation. The resulting pulps are sent to its laboratory inLima, for analysis. ALS Chemex is an ISO 9001:2000 registeredlaboratory. Samples are analyzed for gold by fire assay followed byatomic absorption spectroscopic (AAS) finish and by gravimetric finishfor samples exceeding the upper limit of analysis (over limit). Silver,copper, lead and zinc, together with 30 other elements, were assayed byinductively coupled plasma-atomic emission spectrometry (ICP-AES)following aqua regia dissolution. Over-limit silver (greater than 100ppm), and copper (greater than 10,000 ppm) samples were re-assayed byAAS. Strait Gold routinely carries out a program of qualityassurance/quality control (QA/QC) that includes insertion of blanks,standards and duplicates into the sample stream to verify results priorto dissemination. Strait Gold will send approximately five percent ofsample rejects to a second laboratory for check analysis.
All of the Company's exploration programs are prepared by, or preparedunder the supervision of, Dr. Roger Moss, P.Geo., who serves as theQualified Person as defined by NI 43-101 and is a director of theCompany. Dr. Moss has reviewed the technical content of this newsrelease.
About Strait Gold Corporation:
Strait Gold Corporation is a Canadian mineral exploration companyactive solely in Peru and listed on the TSX Venture Exchange. It has anoption to earn a 100% interest in the Alicia copper-gold property inCusco Department approximately 500 km southeast of Lima, the capital ofPeru, and holds a 100% interest in both the Letra Rumi Southcopper-silver property and the Culebrilla gold-silver property, both inAncash Department approximately 250 km north of Lima. To learn moreabout Strait Gold, please visit our website at www.straitgold.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (asthat term is defined in the policies of the TSX Venture Exchange)accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Strait Gold Corporation
Jim Borland
President
416-223-9970
info@straitgold.com