Stratabound Acquires 100% Ownership of Golden Culvert Property and Investigates New Reduced Intrusion-Related Gold Systems, Tombstone Gold Belt, Yukon Territory
Toronto, December 7, 2023 - Stratabound Minerals Corp. (TSXV: SB) (OTCQB: SBMIF) ("Stratabound" or the "Company") is pleased to announce it has completed all option agreement commitments and has now acquired an undivided 100% mineral rights interest in the Golden Culvert and the adjacent Little Hyland (collectively "Golden Culvert") gold properties, Tombstone Gold Belt, Yukon Territory.
President and CEO Mr. R. Kim Tyler remarked, "Our Yukon Tombstone Gold Belt assets have been overlooked in the capital market and media despite the recent discovery success of Snowline Gold, Rackla Metals, and Banyan Gold as well our own successes on our neighbouring properties. (Figure 1). Our focus to date has been on the orogenic-type gold deposit model, however given the recent spectacular results by Snowline Gold's Reduced Intrusion-Related Gold System, or "RIRGS" deposit-type target at its Rogue Property, we have been compiling and reviewing compelling evidence for similar RIRGS potential on our Tombstone Gold Belt properties including recorded and unrecorded new intrusions discovered on our claims that may be related to the gold discoveries made on the properties to date. We expect to release further disclosure as the work proceeds."
He further remarked, "It is clear that our Golden Culvert and Win properties, relative to our peers is significantly undervalued."
Golden Culvert Property Highlights:
- 200 km south along strike of Snowline Gold's Valley occurrence, Rogue Project, and adjacent to Seabridge Gold's 3 Aces 5,401 g/t Au discovery site.
- Locally at Discovery site, 130m-wide corridor of six parallel gold-bearing quartz vein, breccia and wall-rock mineralized structures hosted in meta-sediments open beyond 970 m on strike and 225 m at depth defined to date by 25 diamond drill holes and 24 trenches on the Main Discovery site only:
- All 25 drillholes, (4,500m) encountered gold mineralization in one or more of the 6 parallel gold-bearing structures up to 60.1 g/t Au over 0.9m within 2.53 g/t Au over 33m
- Regionally across 24 km of property strike, multiple new unexplored gold-in-soil anomalies yielding up to 1,050 parts per billion (ppb) gold occurring at approximate 2-km intervals along 14 kilometres of strike.
- Excellent infrastructure with year-round road access, 10-year exploration permit.
- Potential for Reduced Intrusion Related Gold System, ("RIRGS") being investigated.
About the Golden Culvert Property
The Golden Culvert Property is located in the southern Tombstone Gold Belt of the Southeastern Yukon, approximately 205 kilometres north of the town of Watson Lake. The property lies parallel to and about 25 km northeast of the 3 Aces Project of Seabridge Gold. Gold occurrences in the upper Hyland River valley form a 50-km-long belt that is considered to be the easternmost portion of the Tombstone Gold Belt (Hart and Lewis, 2008). The entire 800-km-long Tombstone Belt of gold deposits and occurrences lies within the greater Tintina Gold Belt that includes RIRGS-type deposits as Fort Knox, Pogo, Brewery Creek, Dublin Gulch, and the recent major discovery by Snowline Gold Corp. at their Valley occurrence on the Rogue property in the Selwyn Basin.
Figure 1. Location map of the Golden Culvert and Win Yukon Tombstone Gold Belt
To view an enhanced version of this graphic, please visit:
Since acquiring the early-stage property in 2017 Stratabound has completed detailed work on the original Discovery site including the first 25 diamond drill holes and 24 trenches ever done on the property confirming that a 130-metre-wide corridor of at least six parallel gold-bearing structures occurs within a >30 ppb gold-in-soils anomaly, extends beyond at least 970 metres of strike and to at least 225 metres in depth where it remains open beyond the original discovery site. The site is served by the all-season Nahanni Range Road which services the Cantung Mine 10-km directly to the east. Significant intersections from the Company's Golden Culvert drill programs in 2018 and 2020, including Au grade x core length, are presented in the following table.
Table 1 Significant intersections from the Golden Culvert drill programs in 2018 and 2020
|g/t x m
Follow-up regional work completed by the Company in 2021-2022 further identified north of, and including, the Golden Culvert Main Discovery Zone numerous new 50- to 350-metre-wide gold-in-soil anomalies yielding results up to 1,050 parts per billion (1.05 g/t) gold occurring at approximate 2-km intervals along some 14 kilometres of strike north of, and including, the Golden Culvert Main Discovery Zone. Additionally, a new gold-bearing quartz vein structure was discovered in 2019 to occur 7.1 km along strike to the north with no exploration conducted in between.
Reduced Intrusion-Related Gold Systems ("RIRGS") to be investigated:
Until recently the Company has focussed only on an orogenic-type gold deposit model similar to the nearby high-grade 3 Aces property but, with the recent development of the Snowline Gold Rogue and Valley RIRGS results ~200km along strike to the north and Aben Resources RIRGS Justin target ~27km along strike to the south, is now investigating compelling evidence for similar RIRGS affiliated deposit-type in the immediate region over both the Golden Culvert and its other nearby Win property. Several recorded and, importantly, new unrecorded intrusives have been discovered on the property since acquisition coincident with RIRGS-style geochemical and alteration zonation patterns which have not yet been investigated for this model-type. Both deposit types are not mutually exclusive and can in fact may be complimentary in such orogenic mountain-building terrains.
For example, RIRGS-type deposits have a characteristic zonational relationship with tungsten deposits. The formerly operating Cantung Tungsten Mine, the world's largest producer outside of China, is located ~ 8-km due east of the Golden Culvert Discovery Site.
Future planned work includes property-wide UAV Aeromagnetic and LiDar surveys, to follow-up with soils and rock sampling programs on the remaining unexplored southern portion of the property to assess potential sites for exploration drilling.
Quality Assurance/Quality Control
The samples referenced in this press release were collected and hand-delivered by Stratabound personnel to the ALS Canada laboratory in Whitehorse, YT where they were crushed to 70% less than 2mm. A riffle split of 250 grams was then taken and pulverized to an 85% passing 75 microns pulp sub-sample. The pulps were then shipped by ALS Canada to its Vancouver laboratory for gold and multi-element analyses. The ME-AA26 gold assaying procedure used is a standard fire assay with AA finish technique on a 50- gram sub-sample taken from the 250-gram pulp split. Samples that exceeded the 100 g/t Au upper detection limit of this method were re-assayed by a by the Au-GRA22 Ore Grade procedure on a 50-gram pulp fire assayed and gravimetric finish analyses.
The samples were also tested for 51 other elements using the ME-MS41 Ultra Trace Aqua Regia ICP-MS method. ALS uses a procedure of standards, blanks and duplicates inserted into the sample stream results for which all fell within satisfactory confidence limits. ALS is an independent internationally recognized and ISO/IEC 17025:2017 accredited chemical analysis company.
For more information, please visit the company's website at www.stratabound.com or contact: R. Kim Tyler, President and CEO 416-915-4157 email@example.com.
About Stratabound Minerals Corp.
Stratabound Minerals Corp. is a Canadian mineral exploration and development company that is advancing its pipeline of early-stage exploration projects in Canada including the Golden Culvert and Win Gold Projects, Tombstone Gold Belt, YT, the McIntyre Brook Gold Project, the Captain Cobalt-Copper-Gold Deposit in New Brunswick, and the Dingman Gold Project, Ontario. It is also developing its advanced-stage flagship Fremont Gold Project in the historic Mother Lode Gold Belt of California. The Fremont Property features an NI 43-101 Mineral Resource Estimate (MRE) of 1.16 million Au ounces at an average grade of 1.90 g/t Au within 19.0 million tonnes in the Indicated classification, plus 2.02 million ounces at an average grade of 2.22 g/t Au within 28.3 million tonnes in the Inferred Mineral Resource classification. This current MRE evaluates only 1.4 km of the entire 4 km strike length of the Fremont Property that features four gold-mineralized zones. 3. The supporting references for the resources are disclosed in the press release dated February 15, 2023 and in the technical report titled: "Preliminary Economic Assessment of the Fremont Gold Project, Mariposa County, Central California, USA" for Stratabound Minerals Corp. by P&E Mining Consultants Inc. with an effective date of February 15, 2023.
Mr. R. Kim Tyler, P.Geo., President and CEO of Stratabound, and a "Qualified Person" for the purpose of NI 43-101, has reviewed and approved the contents and technical information of this news release.
For more information, please visit the company's website at www.stratabound.ca or contact: R. Kim Tyler, President and CEO 416-915-4157 firstname.lastname@example.org.
Neither the 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 fills 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, failure to obtain regulatory, exchange or shareholder approval, 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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/190307