January 14, 2008 - Vancouver, B.C. - StrataGold Corporation (SGV.TSX) is pleased to announce
exploration and diamond drilling (DD) results from the Monosse property,
located 45
kilometres (km) due west of StrataGold's 100%
owned Tassawini property. The Monosse property is subject to a 50:50 joint
venture with Newmont Overseas Exploration Limited, a subsidiary of
Newmont Mining Corporation (NYSE & ASX: NEM; TSX: NMC). In 2007 a total of 2,676 metres (m)
of diamond drilling (DD) was completed in fourteen (14) holes. Highlights of the latest DD results include
MD018 which intersected 1.86 g/t gold over 18.9 m at the Gomes
Hill target. Gold mineralization has been intersected
over a minimum strike length of 450 m, with a variable true width that
averages approximately 12
m. Mineralization at Gomes Hill is associated with
a major regional thrust fault named the Eveready structure. The
exploration results demonstrate that gold mineralization remains open in
all directions at this time.
StrataGold and Newmont have optioned several properties to expand
the size of the landholdings at the Monosse property to 33,618 hectares,
adding more than 25 km
of strike length along the Eveready structure as well as several gold
occurrences located along the Arakaka trend. StrataGold and Newmont hold
an important land position in the prospective Arakaka trend which is a
northeast-trending mineralized and structural corridor within the
Barima-Waini District of Northwestern Guyana.
2007 Exploration Program - Gomes Hill
In 2007, a
total of 49 km
of cut grid lines were established over five km of strike length of the
Gomes Hill target. Three grids followed the Eveready structure that
control gold mineralization. The Gomes Hill area was further explored
with 1,500 m
of trenching and channel sampling, a soil geochemistry survey in which
1,841 soil samples were collected, 35.6 km of ground
induced polarization (IP) geophysics and 2,676 m of diamond
drilling in fourteen (14) DD holes. The results from the 1,841 soil
samples demonstrate the presence of gold mineralization along the entire
strike length of the mineralized Eveready structure with anomalous soils
assaying up to 6.0 g/t gold. The results demonstrate that the Eveready
structure is a major regional thrust fault that is gold-bearing over a
minimum strike length of 5
km (see map on website at www.stratagold.com).
2007 Diamond Drilling Results - Gomes Hill
Diamond drilling at Gomes Hill intersected gold mineralization in
sulphide-rich quartz veins hosted near the sheared margins of a
concordant diorite intrusive. Mineralization is preferentially hosted
along the contact between the diorite intrusion and sheared northwest
trending, gently southwest-dipping carbonaceous mudstones and dacitic
tuffs. The mineralization strikes to the northwest at approximately 340
degrees and dips to the southwest at 30 to 45 degrees. The controlling
structure is considered to be a large thrust fault named the Eveready
structure, which has a strong IP chargeability anomaly.
Table 1. Diamond Drilling Results
Hole
|
From (m)
|
To (m)
|
Interval Width (m)
|
Gold Grade (g/t)
|
MD006
|
51.00
|
54.00
|
3.00
|
0.70
|
And
|
74.50
|
78.10
|
3.60
|
2.97
|
And
|
190.50
|
193.00
|
2.50
|
0.87
|
MD007
|
146.00
|
152.50
|
6.50
|
0.42
|
And
|
180.50
|
183.50
|
3.00
|
0.49
|
And
|
201.50
|
206.50
|
5.00
|
0.41
|
MD015
|
92.80
|
99.30
|
6.50
|
1.52
|
And
|
112.50
|
116.10
|
3.60
|
1.55
|
And
|
128.05
|
159.90
|
31.85
|
0.68
|
Including
|
131.50
|
140.50
|
9.00
|
1.72
|
And
|
169.20
|
178.00
|
8.80
|
0.91
|
MD016
|
133.40
|
141.80
|
8.40
|
1.76
|
And
|
156.00
|
167.60
|
11.60
|
1.10
|
Including
|
161.05
|
164.15
|
3.10
|
2.43
|
MD017
|
48.00
|
63.30
|
15.30
|
1.02
|
And
|
97.10
|
102.00
|
4.90
|
2.79
|
MD018
|
98.70
|
117.60
|
18.90
|
1.86
|
And
|
137.80
|
146.50
|
8.70
|
0.95
|
MD019
|
14.80
|
18.40
|
3.60
|
0.38
|
MD09, 10, 11, 12, 13 and 14 had no significant
intersections.
2008 Exploration Plans - Monosse Project
An aggressive regional exploration program is ongoing at the
Monosse property to follow up on numerous targets identified during the
2007 program. A two-phase work program has been recommended for the
Monosse property in 2008 with Phase I work to include the development of
widespread soil geochemistry surveys, trenching and channel sampling, as
well as follow-up IP geophysical surveys on defined target areas. The
Phase II work program will consist of diamond drilling and follow-up
surveying. Phase II work will commence once the results from the Phase I
program have been evaluated.
Quality Control and Assurance
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 Qualified Person (QP) Bill
Yeomans, P.Geo., StrataGold's General Manager Exploration, South America.
Tamperproof sample bags with zip lock tags are being utilized for all of
the drill samples. Samples have been processed at an ISO 9000 registered
laboratory at Acme Analytical Laboratories Ltd.'s sample preparation
facility in Guyana and laboratory in Santiago, Chile or Vancouver,
British Columbia.
About StrataGold
StrataGold is a gold development company focused on the systematic
exploration and development of two advanced-stage gold projects and the
BRL Venture with Newmont. To obtain additional information, photos,
project updates and maps pertaining to this news release, please visit: www.stratagold.com.
For further information, please contact
Mr. Terry L. Tucker, President and CEO
Ms. Vanessa Pickering, Manager, Investor Communications
StrataGold Corporation
Tel: 604-696-6601
E-mail: info@stratagold.com
Website: www.stratagold.com
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. Forward-looking
statements in this document include statements regarding the Company's
expectations regarding exploration activities on properties in which the
Company has an interest in. 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 fulfill expectations and realize the perceived potential of
the Company's properties; the possibility that required permits may not
be obtained on a timely manner or at all; 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. Except as expressly required by applicable
securities laws, the Corporation undertakes no obligation to update these
forward-looking statements in the event that management's beliefs,
estimates or opinions, or other factors, should change.
|