SB: TSX Venture Exchange
CALGARY, Sept. 24, 2014 /CNW/ - Stratabound Minerals Corp. (SB.V) announces that a drilling program is underway on its properties in the Bathurst Mining Camp of northern New Brunswick, beginning with Taylor Brook. The drill will move on to the company's 100%-owned Captain claims within two weeks, following a pause for the moose hunting season, and then to the 65%-optioned Commander property.
One hole has been completed on the 100%-owned Taylor Brook property. The hole was drilled to probe for mineralization beneath a shallow hole drilled by a previous owner in 1977, which intersected a 3.1 metre thick sulphide zone containing 1.6% zinc, 0.4% lead, and 0.5 oz/ton silver, including 0.7 metre that graded 4.0% zinc, 1.1% lead and 1.0 oz/ton silver.
The new hole has intersected two sulphide zones beneath a narrow magnetite iron formation. A 2.7 metre thick upper zone contains 10% to 25% sulphides with thin (5 to 10 centimetre) semi-massive sulphide sections and modest amounts of zinc and lead. A lower 7.9 metre thick mineralized zone contains 10% to 60%, locally semi-massive sulphides with visible zinc and lead bands and stringers, in apparently higher concentration than the upper zone. Mineralized drill core is being split and will be submitted for assay. Additional details will be provided when assays have been completed and received.
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.
Neither 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, 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.