Attention Business Editors:
Stratabound Continues to Hit Impressive Copper-Cobalt Intercepts in Captain Drilling
SB: TSX Venture Exchange
Issued: 37,099,702 shares
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Latest highlights include:
- Hole 13: 18.5 metres grading 1.8% copper, including 9 metres of 2.5%
copper, 0.034% cobalt (0.7 lb/t), 0.041% bismuth (0.9 lb/t), 0.60 g/t
gold and 15.1 g/t silver, within a continuous 86.5 metre core length
grading 0.65% copper and 0.036% cobalt; the 9 metre interval includes
2.5 metres grading 5.1% copper, 1.0 lb/t cobalt, 1.6 lb/t bismuth,
0.66 g/t gold and 26.5 g/t silver
- Hole 14: 24.5 metres of 1.1% copper, including 7.5 metres of 2.5%
copper, 0.6 lb/t cobalt and 0.9 lb/t bismuth, within a continuous 42
metre length of 0.75% copper and 0.5 lb/t cobalt; the 7.5 metre
interval includes 3 metres grading 4.0% copper, 1.0 lb/t cobalt and
0.7 lb/t bismuth
- Metallurgical studies underway
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CALGARY, July 24 /CNW/ - Stratabound Minerals Corp. (TSX.V:SB) is pleased
to release assay results from drill holes CP-11 to CP-14 on its 100%-owned
Captain copper-cobalt property near Bathurst, New Brunswick. The Captain
Property is situated 20 kilometres south of the world-class Brunswick No. 12
Mine in an area of highly-developed infrastructure.
The company has recently completed a first-phase diamond drilling program
of 25 holes (5,097 metres). Results to date indicate the potential for
economic-grade copper-cobalt mineralization at open-pit depths. Impressive
widths and grades of copper are present, as well as significant cobalt grades
of 0.5 to 2.75 lbs/ton over core lengths of up to 140 metres, and appreciable
gold, silver and bismuth values. Preliminary metallurgical investigations are
underway at New Brunswick Research and Productivity Council, to assess the
potential to recover payable metal concentrates in a bench-scale study.
Results from the first ten holes were reported in news releases dated,
October 12, 2007, December 20, 2007, January 24, 2008, and April 24, 2008.
Results from Holes 11 through 14 are outlined in this news release, and
additional results will be presented shortly.
Of the four new holes, CP-13 and CP-14 are the most significant. They
were collared 75 metres apart on section 250W. These holes were drilled
vertically, west of and deeper than Holes 11, 12, and previously reported
holes (see Map 15A on Company's website, www.stratabound.com).
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Drill From To Length Cu Co Bi Cu Co Bi Gold Silver
Hole Metres Metres Metres % % % lbs/t lbs/t lbs/t g/t g/t
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CP-13 120.5 207 86.5 0.65 0.036 0.010 14.4 0.8 0.2 0.14 4.18
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Incl. 131 149.5 18.5 1.78 0.027 0.029 39.3 0.6 0.6 0.39 11.96
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Incl. 132.5 134.5 2 2.60 0.016 0.049 57.3 0.4 1.11 0.33 25.00
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Incl. 136 145 9 2.48 0.034 0.041 54.7 0.7 0.9 0.60 15.06
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Incl. 142.5 145 2.5 5.08 0.043 0.074 112.0 1.0 1.6 0.66 26.52
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Incl. 199.5 202.5 3 1.93 0.15 0.024 42.6 3.3 0.5 0.50 11.62
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From To Length Cu Co Bi Cu Co Bi Gold Silver
Metres Metres Metres % % % lbs/t lbs/t lbs/t g/t g/t
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CP-14 72 114 42 0.75 0.021 0.011 16.5 0.5 0.2 0.052 1.91
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Incl. 89.5 114 24.5 1.08 0.017 0.018 23.9 0.4 0.4 0.063 2.72
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Incl. 98 105.5 7.5 2.48 0.026 0.042 54.6 0.6 0.9 0.10 5.55
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Incl. 98 101 3 4.01 0.047 0.033 88.3 1.0 0.7 0.15 9.78
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Cobalt Enve-
lope
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37.5 177.5 140 0.25 0.023 5.6 0.5
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Beyond the mineralization reported in the above table, cobalt values of
0.5 to 1.7 lbs/t in Hole 13 persist intermittently downhole to 268
metres, i.e. an additional 61 metres into the footwall rocks. In Hole 14
the copper mineralization is sandwiched within 140 metres of cobalt
mineralization.
Holes 11 and 12 were drilled with 45 degree dips, testing shallow depths
toward the southeast. Hole 12 was directed east from surface, but
deviated sharply to the southeast from its intended course. These two
shallow holes encountered less mineralization than Holes 13 and 14, and
may have passed above the main mass of south-plunging mineralization.
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Drill From To Length Cu Co Bi Cu Co Bi Gold Silver
Hole Metres Metres Metres % % % lbs/t lbs/t lbs/t g/t g/t
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CP-11 42.5 55 12.5 0.39 0.047 0.24 8.7 1.0 0.5 0.063 2.43
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Incl. 42.5 44.5 2 1.22 0.035 0.013 26.9 0.8 0.3 0.12 5.11
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Incl. 48.5 53 4.5 0.23 0.074 0.060 5.1 1.6 1.3 0.064 1.67
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Incl. 53.5 55 1.5 0.13 2.9
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CP-12 76 77 1 3.05 0.034 0.031 67.1 0.7 0.7 0.34 12.43
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Drill Hole Collar Information for Captain Holes 11 to 14:
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Hole Northing Westing Elevation Depth Azimuth Dip
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200711 73.82 211.9 147.44 125 141 -45
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200712 77.89 243.5 147.91 101 91 -60
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200813 75 250 148.3 297 90 -88
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200814 145.5 250.32 148.52 225 90 -88
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Previously reported highlights include:
- Hole 1: 57.5 metres grading 1.0% copper & 0.05% cobalt, including 7.5
metres of 3.2% copper & 0.07% cobalt
- Hole 2: 47.5 metres grading 1.1% copper & 0.04% cobalt, including 6.5
metres grading 3.7% copper, 0.12% bismuth & 0.07% cobalt
- Hole 3: 58 metres grading 1.2% copper & 0.07% cobalt, including 8.5
metres grading 2.3% copper & 0.10% cobalt and 8.0 metres of 2.3%
copper & 0.04% cobalt
- Hole 4: 18.5 metres grading 1.3% copper, plus 13.0 metres grading 1.4%
copper & 0.07% cobalt
- Hole 6: 4 metres grading 2.35% copper, 0.05% (1.1 lb/t) cobalt & 0.04%
bismuth, plus 11 metres grading 1.1% copper & 0.05% cobalt
- Hole 7: 26 metres grading 1.2% copper & 0.05% cobalt, including 6.5
metres of 2.7% copper, 0.04% cobalt, 0.06% bismuth (1.4 lb/t), 0.5 g/t
gold, 13.2 g/t silver
- Hole 8: 13 metres grading 1.6% copper, including 6 metres of 2.7%
copper, 0.04% cobalt, 0.06% bismuth, 0.63 g/t gold, 21.3 g/t silver
>>
Recent copper price is around US$3.75/lb; cobalt US$38.00/lb; bismuth
US$12.00/lb. Metal market analysts expect cobalt prices to rise in 2009 and
beyond due to demand surges for batteries in hybrid cars, cell phones and
laptop computers, in addition to anticipated increased demand by the aviation
industry arising from Airbus construction.
Drill core is securely stored at Stratabound's core shack facility in
Bathurst. A total of 4,400 samples have been submitted for assay (not
including blank samples, certified standard reference samples, quartered
samples, duplicates and third party checks submitted in accordance with
Quality Control and Quality Assurance protocols). Half-core samples from the
first 14 holes were assayed by SGS Mineral Services in Toronto, Ontario.
The exploration at Captain is under the supervision of John Duncan,
P.Geo. The technical information contained in this release has been reviewed
by John Duncan, P.Geo. and Stan Stricker, P.Geol., Qualified Persons as
defined in National Instrument 43-101.
Drilling on Captain was partially funded by a $100,000 grant awarded to
Stratabound by the Province of New Brunswick Deposit Evaluation Program.
Stratabound is a Canadian junior mining and exploration company currently
exploring for precious and base metals in several areas of New Brunswick,
Ontario and Quebec.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
Certain information regarding the Company contained herein may constitute
forward looking statements. Forward looking statements may include estimates,
plans, expectations, opinions, forecasts, projections, guidance or other
statements that are not statements of fact. Although the Company believes that
the expectations reflected in such forward looking statements are reasonable,
it can give no assurance that such expectations will prove to have been
correct. These statements are subject to certain risks and uncertainties and
may be based on assumptions that could cause actual results to differ
materially from those anticipated or implied in the forward looking
statements. The Company is under no obligation to update or alter any forward
looking statement. These risks include operational and geological risks and
the ability of the Company to raise necessary funds for exploration. The
Company's forward looking statements are expressly qualified in their entirety
by this cautionary statement.
For further information: Stan Stricker, P. Geol, President, (403)
258-3630, info@stratabound.com, www.stratabound.com
