STRATAGOLD ANNOUNCES FIRST TASSAWINI MINERAL RESOURCE ESTIMATE AND CONTINUED AGGRESSIVE EXPLORATION AND DEVELOPMENT ACTIVITIES
April 2, 2007 � Vancouver, BC � StrataGold Corporation (SGV.TSX) announces that it has received the first National Instrument (NI) 43-101 compliant Mineral Resource estimate of select zones within the 100% owned Tassawini and Anaturi Prospecting Licenses (PL�s), Guyana. The Mineral Resource estimate, which was prepared by Lions Gate Geological Consulting Inc., is based only on the results of the Diamond drill program conducted by StrataGold within the 30 hectare (ha) area surrounding historical open pits. Not included in the estimate are more than 640 ha of additional new gold targets located within the 9,637 ha Tassawini and Anaturi PL�s.
The Mineral Resource estimate includes the following select zones: Tassawini East, Tassawini West (including Mine Creek), Tassawini South and Black Ridge and is tabulated below, reported at 0.50 g/t gold cut-off.
Category of Mineral Resource |
Tonnes |
Gold Grade (g/t) |
Gold (ounces) |
Indicated |
3,735,000 |
1.73 |
208,316 |
Inferred |
3,696,000 |
1.27 |
151,089 |
A capping strategy was applied to the assay data prior to grade interpolation for the Mineral Resource estimate to minimize overweighting of higher grade gold values.
Tassawini and Anaturi PL 2007 Exploration
StrataGold has budgeted Cdn. $8.5 million in 2007 to continue aggressive exploration and development efforts with the following goals:
- Within the new gold target areas work will include induced polarization geophysical surveys, trenching, reverse circulation and Diamond drilling to define additional resources. The eight new gold targets are Sonne North (46 ha), Sonne South (45 ha), Clutch (72 ha), Matahari (175 ha), Mora (124 ha), Stamp Mill (83 ha), Kathmandu (62 ha) and Caravan (34 ha). The new gold targets have been defined with soil sampling and reverse circulation drilling.
- Within the area of the Mineral Resource, additional Diamond drilling will focus on the open areas identified along strike and down dip of the select zones to define additional resources. StrataGold will also evaluate a lower economic cut-off grade.
- To conduct additional specific gravity, metallurgical and bulk sampling test work and environmental studies.
The results and geological understanding gained by previous exploration programs will enhance the 2007 exploration and development efforts. Since acquiring Tassawini, StrataGold has spent Cdn. $7.3 million on 36,300 metres of reverse circulation drilling (in 969 holes) and 38,037 metres of Diamond drilling (in 260 holes) and assaying.
Barama Joint Venture
Diamond drilling and induced polarization geophysical surveys are ongoing on targets that have been identified within StrataGold�s 405,400 ha (1 million acre) Barama Reconnaissance Permit (BRP) which is subject to a 50/50 joint venture agreement with Newmont Overseas Exploration Limited (BRL Venture), a subsidiary of U.S.-based Newmont Mining Corporation (NYSE & ASX: NEM; TSX: NMC). The BRL Venture provides for exploration within the BRP but excludes the 100% owned Tassawini and Anaturi PL�s.
Parameters Used to Calculate the Mineral Resource
Susan Lomas, P.Geo. and Ali Shahkar, P. Eng. of Lions Gate Geological Consulting Inc. of North Vancouver, British Columbia, Canada are the Qualified Persons under NI 43-101 responsible for the Mineral Resource estimate. A NI 43-101 Technical Report detailing the project and Mineral Resource estimate protocols will be filed on SEDAR within 45 days.
Mineralization at Tassawini was interpreted into four zones; Tassawini East, Tassawini West (which includes Mine Creek), Tassawini South and Black Ridge.�Tassawini West and Black Ridge were further segregated into 9 domains each.� Each zone and domain was tagged into three weathering domains of saprolite, weathered (transition) rock or fresh rock to reflect the degree of saprolitization of the rock. Statistical analysis for each zone, domain and weathering domain were established for the gold distribution and bulk density data. Wireframe models were developed based on a 0.50 g/t gold grade shell for each zone and domain. The models were then used to constrain the 10 m by 10 m by 5 m (vertical) blocks used in the resource estimation. �
Assays were composited into 3.0 m intervals and statistical analysis and variography were completed for each zone and domain. Ordinary kriging was used to interpolate the grade for gold for each block. A restricted outlier strategy was used during grade interpolation to allow high grade composites to influence local blocks but restrict their influence on more distal blocks. Bulk density measurements collected during core logging were averaged by weathering domains and the following bulk density values were applied to each domain: 1.97 g/cm3 for saprolite, 2.20 g/cm3 weathered (transition) rock and 2.70 g/cm3 for fresh rock. Blocks were then classified into either the Indicated Mineral Resource or Inferred Mineral Resource categories. Indicated Mineral Resources were applied to a block if there were three drill holes within a 60 m by 30 m by 10 m ellipse oriented along the mineralized trend.� All other blocks were classed into the Inferred Mineral Resource category as the grade shells were not extended more than 25 m from the last drill holes.�The grades and tonnages reported in this resource estimate represent the material contained within the mineralized portion of the classified blocks.
Tassawini has a deep weathering profile where the gold-bearing metasedimentary rocks have predominantly been altered to "saprolite" (a soft clay-like rock) to a depth of up to 80 m below surface. Preliminary metallurgical results demonstrate excellent gold recoveries of up to 95% in the saprolite portions of Tassawini. The Mineral Resource estimate lying within saprolite, in all zones, is tabulated below reported at 0.50 g/t gold cut-off:
Class |
Tonnes |
Gold Grade (g/t) |
Gold� (ounces) |
Indicated |
2,452,000 |
1.89 |
148,922 |
Inferred |
1,971,000 |
1.28 |
81,077 |
A summary of the results for the Mineral Resource estimate are presented below in a grade-tonnage table using 0.50, 0.75 and 1.00 g/t gold cut-off grades to demonstrate the sensitivity of tonnage to increasing cut-off grade.
Zone (0.50 g/t gold cut-off) |
Class |
Tonnes |
Gold Grade (g/t) |
Gold (ounces) |
Tassawini East |
Indicated |
377,000 |
1.52 |
18,471 |
Tassawini West |
Indicated |
3,062,000 |
1.76 |
173,710 |
Tassawini South |
Indicated |
296,000 |
1.70 |
16,135 |
Total |
Indicated |
3,735,000 |
1.73 |
208,316 |
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� |
� |
� |
� |
Tassawini East |
Inferred |
583,000 |
1.40 |
26,161 |
Tassawini West |
Inferred |
1,583,000 |
1.28 |
65,260 |
Tassawini South |
Inferred |
31,000 |
1.34 |
1,336 |
Black Ridge |
Inferred |
1,499,000 |
1.21 |
58,332 |
Total |
Inferred |
3,696,000 |
1.27 |
151,089 |
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Zone (0.75 g/t gold cut-off) |
Class |
Tonnes |
Gold Grade (g/t) |
Gold (ounces) |
Tassawini East |
Indicated |
���������� 352,000 |
1.58 |
���������� 17,926 |
Tassawini West |
Indicated |
������� 2,849,000 |
1.85 |
������ ��169,233 |
Tassawini South |
Indicated |
���������� 296,000 |
1.70 |
���������� 16,140 |
Total |
Indicated |
������� 3,497,000 |
1.81 |
�������� 203,299 |
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� |
� |
� |
������������������� |
Tassawini East |
Inferred |
���������� 533,000 |
1.47 |
���������� 25,153 |
Tassawini West |
Inferred |
������� 1,317,000 |
1.41 |
���������� 59,864 |
Tassawini South |
Inferred |
������������ 31,000 |
1.36 |
������������ 1,352 |
Black Ridge |
Inferred |
������� 1,325,000 |
1.28 |
���������� 54,623 |
Total |
Inferred |
������� 3,206,000 |
1.37 |
�������� 140,991 |
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Zone (1.00 g/t gold cut-off) |
Class |
Tonnes |
Gold Grade (g/t) |
Gold (ounces) |
Tassawini East |
Indicated |
283,000 |
1.76 |
������� 15,983 |
Tassawini West |
Indicated |
2,373,000 |
2.04 |
����� 155,722 |
Tassawini South |
Indicated |
273,000 |
1.76 |
������� 15,458 |
Total |
Indicated |
2,929,000 |
1.99 |
����� 187,164 |
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Tassawini East |
Inferred |
354,000 |
1.76 |
������� 20,073 |
Tassawini West |
Inferred |
951,000 |
1.62 |
������� 49,454 |
Tassawini South |
Inferred |
28,000 |
1.39 |
��������� 1,255 |
Black Ridge |
Inferred |
930,000 |
1.45 |
������� 43,383 |
Total |
Inferred |
2,263,000 |
1.57 |
����� 114,164 |
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Quality Control and Assurance of Samples
A rigorous Quality Control and Assurance program (QC/QA) is in place, using control samples and duplicates, as well as Chain of Custody (COC) protocols, under the supervision of Bill Yeomans, P.Geo., General Manager Exploration, South America. Tamperproof sample bags with zip lock tags are being utilized for all of the drill samples. The Tassawini samples were freighted by air in sealed containers to be analysed at either ALS Chemex in Vancouver or to the ACME sample prep facility located in Georgetown, Guyana. The samples prepped in the ACME�s Georgetown facility are air freighted to the ACME analytical laboratory in Santiago, Chile for analysis. Both ALS Chemex and ACME are recognized as an ISO 9000 registered laboratories. The control samples, blank and duplicate assay results received for the drilling program demonstrated to StrataGold that the results are considered reliable.
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Webcast & Teleconference
In order to provide further clarification of the Tassawini Mineral Resource estimate and plans for continued exploration and development, please join us at 0900 PT/1200 ET on Tuesday, April 3, 2007 to participate in a webcast and teleconference mediated and presented by the Company�s President and CEO, Terry Tucker. �
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Questions for Mr. Tucker will only be addressed via the conference call. It is recommended that participants register for both the webcast and teleconference portion if they wish to ask questions. Slides will be presented via the webcast that will follow Mr. Tucker�s narrative.
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To register for the webcast portion, please copy and paste the link below into your internet web browser: http://www.newswire.ca/en/webcast/viewEvent.cgi?eventID=1791020
To register for the teleconference portion, please phone the following number(s):
Toronto/International participants:���������� ����������� ����������� +1-416-644-3424
All other Canadian provinces and US participants:���������� 1-800-731-6941
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About StrataGold
StrataGold is a well-funded gold exploration and development company focused on the systematic exploration of advanced-stage gold projects including Dublin Gulch, Yukon, Tassawini, Guyana and the BRL Venture, Guyana.
Tables outlining the capping and resource estimation parameters and Mineral Resource estimate summation by weathering type, a map illustrating the extent of the block model, and the Tassawini and Anaturi PL gold targets map can be found at www.stratagold.com.
For further information, please contact:
Terry L. Tucker, President and CEO
Vanessa Pickering, Manager, Investor Communications
StrataGold Corporation
Phone: +1-604-682-5122
E-mail: info@stratagold.com
Website: www.stratagold.com
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Statement Regarding Forward Looking Statements
This news release of StrataGold Corporation (the �Company�) contains statements that constitute �forward-looking statements.� Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements, or developments in our industry, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," �projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur. Information inferred from the interpretation of drilling results and information concerning mineral resource estimates may also be deemed to be forward looking statements, as it constitutes a prediction of what might be found to be present when and if a project is actually developed. Forward-looking statements in this document include statements regarding: the Company�s expectations regarding drilling and exploration activities on properties in which the Company has an interest; the Company�s statements regarding estimates of resources on properties in which the Company has an interest; the Company�s expectations regarding the amount and adequacy of its cash reserves in future periods; and the Company�s expectations regarding the amount of expenses in future periods. There can be no assurance that such statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements, and readers are cautioned not to place undue reliance on these forward-looking statements that speak only as of their respective dates. Important factors that could cause actual results to differ materially from the Company�s expectations include among others, risks related to fluctuations in mineral prices; uncertainties related to raising sufficient financing to fund planned work in a timely manner and on acceptable terms; changes in planned work resulting from weather, logistical, technical or other factors; the possibility that results of work will not fulfil expectations and realize the perceived potential of the Company's properties; uncertainties involved in the estimation of resources; the possibility that required permits may not be obtained on a timely manner or at all; the possibility that capital and operating costs may be higher than currently estimated and may preclude commercial development or render operations uneconomic; the possibility that the estimated recovery rates may not be achieved; risk of accidents, equipment breakdowns and labour disputes or other unanticipated difficulties or interruptions; the possibility of cost overruns or unanticipated expenses in the work program; the risk of environmental contamination or damage resulting from the Company�s operations; and other risks and uncertainties discussed under the heading �Risk Factors� and elsewhere in the Company�s documents filed from time to time with the Toronto Stock Exchange and Canadian securities regulators. These statements are based on a number of assumptions, including assumptions regarding general market conditions, the availability of financing for proposed transactions and programs on reasonable terms, and the ability of outside service providers to deliver services in a satisfactory and timely manner. Forward-looking statements are based on the beliefs, estimates and opinions of the Company�s management on the date the statements are made. The Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
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This news release uses the terms �Inferred Resource�, �Indicated Resource� and �Mineral Resource�. The Company advises readers that although these terms are recognized and required by Canadian securities regulations (under National Instrument 43-101 �Standards of Disclosure for Mineral Projects�), the US Securities and Exchange Commission does not recognize these terms. Readers are cautioned not to assume that any part or all of the mineral deposits in these categories will ever be converted into reserves. In addition, �Inferred Resources� have a great amount of uncertainty as to their existence, and economic and legal feasibility. It cannot be assumed that any part of an Indicated or Inferred Mineral Resource will ever be upgraded to a higher category. Under Canadian rules, estimates of Inferred Mineral Resources may not form the basis of feasibility or pre-feasibility studies, or economic studies except for a Preliminary Assessment as defined under National Instrument 43-101. Readers are cautioned not to assume that part or all of an inferred resource exists, or is economically or legally mineable. The Mineral Resources stated in this news release are not mineral reserves and, in the absence of a current feasibility study, do not demonstrate economic viability. The determination of mineral reserves can be affected by various factors including environmental, permitting, legal, title, taxation, socio-political, and marketing issues on the estimate.