Highlights:
- Exploration grant received from New Brunswick Junior Mining Assistance Program
- Expanded +3,000-sample soil geochemistry program in progress over 31.25 km2 of property acquired in late 2020
- Project is adjacent to recent new visible gold discoveries and results up to 241 g/t Au reported at Puma Exploration's Williams Brook Gold Project
Toronto, Ontario--(Newsfile Corp. - June 29, 2021) - Stratabound Minerals Corp. (TSXV: SB) (OTCQB: SBMIF) ("Stratabound" or the "Company") is pleased to report it has commenced its 2021 exploration campaign at its McIntyre Brook Gold Project supported by a $30,000 mineral exploration grant awarded through the New Brunswick Junior Mining Assistance Program.
The exploration work expands upon the 2,460-sample soil geochemistry program completed in 2020 along 12 km of strike which revealed multiple broad, linear and parallel soil geochemistry anomalies. Both gold and copper trends align with past significant gold and copper-mineralized showings including the McIntyre Brook Zone which features 40 significant gold values between 0.20 and 41.56 g/t Au collected from bedrock exposed in trenches along 300m of strike. The mineralization is hosted in brittle-fractured rhyolite units in contact with regional sediments. In addition to the known McIntyre Brook trend identified in past limited work, a new parallel trend is now interpreted to lie about 1km to the south. The 2021 planned program is detailed in Figure 1 below.
Follow-up work this season includes closer-spaced sampling at 25m intervals, prospecting, geological mapping and trenching on selected anomalies, as well as first-pass soil sampling of the 31.25 km2 of additional property recently acquired through option agreements and reported on November 10, 2020.
The Company is also very pleased to read the reports of recent new discoveries of visible gold in quartz veins at surface associated with base metal sulphides on the neighbouring Williams Brook Gold Project operated by Puma Exploration Inc. ("Puma"). Numerous gold zones have been discovered by Puma through trenching and surface sampling including the Lynx Gold Zone with reported selected grab samples* yielding up to 241.0 g/t Au, 79.8 g/t Au and 74.2 g/t Au, (Puma Exploration Inc. press release, March 3, 2021). These zones, as well as the geophysical trends identified in recent airborne work recently reported by Puma, extend directly onto Stratabound ground. Puma further reports that gold mineralization is observed in brecciated quartz veins at the contact between the sediments and the altered rhyolite. This is the similar case of occurrence at Stratabound's McIntyre Brook Zone. (*Selected rock grab samples are selective by nature and may not represent the true grade or style of mineralization across the property.)
Mr. R. Kim Tyler, President and CEO of the Company commented, "We are as keen to see the results of our expanded exploration program at McIntyre Brook as we are to follow the continued success of our neighbour Puma Exploration Inc. at Williams Brook on our western strike extensions. The complementary results of both companies continue to grow compelling evidence that we are at the very early stage of yet another new Maritime gold district."
"We are also very pleased to receive the financial support of the New Brunswick Government that we perceive as not only an endorsement of the mineral potential of this new area, but also an endorsement of confidence in Stratabound as well."
Figure 1. McIntyre Brook 2021 Soil Geochemistry Program
(*Includes public data sourced from Puma Exploration Inc. website and SEDAR)
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/4064/88966_1dc5d73b1455fbf2_002full.jpg
About Stratabound Minerals Corp.
Stratabound Minerals Corp. is a well-funded Canadian exploration and development company focused on gold exploration at its flagship Golden Culvert Project, Yukon Territory and its new McIntyre Brook Project, New Brunswick, Canada. The Company also holds a significant land position that hosts three base metals deposits in the Bathurst base metals camp of New Brunswick featuring the Captain Copper-Cobalt-Gold Deposit that hosts an NI 43-101 Measured and Indicated Resource.
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 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 info@stratabound.com.
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 this 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/88966
