January 15, 2008 - Vancouver, BC - StrataGold Corporation (SGV-TSX) ("StrataGold" or the
"Company") is pleased to announce that SRK Consulting (US) Inc.
("SRK"), an independent consulting firm, has provided a
National Instrument (NI) 43-101 Mineral Resource estimate for the
Mar-Tungsten Deposit located within the 100% owned Dublin Gulch Project
land package, Yukon Territory, Canada.
- The Mar-Tungsten Deposit contains 45.59 million pounds of
tungsten (WO3) in the Indicated category and 17.22
million pounds of tungsten (WO3) in the Inferred category
based on a 0.1% WO3 cutoff.
- The current price for tungsten (WO3) is US$10.60
per pound.
- Though focused on our gold exploration and development
programs in Canada and Guyana, management will also be evaluating
opportunities to realize value and synergies for the Mar-Tungsten
Deposit.
The Mar-Tungsten Deposit resource was calculated
using 13,920
metres (m) of drill data in 86 holes which were
drilled in 1979 and 1980 prior to StrataGold's acquisition of the Dublin
Gulch land package in 2004. The deposit remains open along strike and down
dip and there is excellent potential to expand the current resource. The
Mar-Tungsten Deposit is a relatively high grade tungsten skarn, located
approximately 2.5
kilometres (km) east of the Eagle Zone (100% owned
by StrataGold) and adjacent to existing infrastructure. The Eagle Zone
contains a NI 43-101 resource of 1.96 million ounces gold (average 0.916
g/t gold) in the Indicated category and 0.371 million ounces gold (0.803
g/t gold) in the Inferred category(using a 0.50 g/t gold cut-off; see
news release dated February
27, 2006)*.
Mar-Tungsten Deposit Resource
Statement**
Resource Category
|
Total Tonnes
|
% WO3
Grade
|
Contained WO3 (pounds)
|
MTU
(metric tonne units)
|
Indicated
|
5,310,000
|
0.39
|
45,590,000
|
2,070,900
|
Inferred
|
2,170,000
|
0.36
|
17,220,000
|
781,200
|
** A cut-off grade of 0.10% WO3 was used for this resource
estimate
Tungsten
Tungsten is a strategic metal and emerging economies such as India and
China are consuming increasing amounts of tungsten. Tungsten prices are
quoted per metric tonne unit (MTU) of contained tungsten trioxide (WO3).
One MTU contains 10
kilograms of WO3 and is the standard
weight measure of the tungsten trade. Ammonium Paratungstate
("APT") is an intermediate product in the production of
tungsten metal for which prices are available. The most recently quoted
price on January 2, 2008 was US$233 per MTU (10 kilograms or 22.04 pounds WO3
per MTU) which equates to US $23 per Kilogram or US $10.60 per
pound.
Parameters Used to Calculate the Mineral
Resource
The drill hole database contained information from 86 drill holes
totaling 13,920 m
of drilling. The historical drill core was well preserved and was stored
on site in core sheds. The maximum drill hole depth was 374 m with an average
of 163 m.
Block grade estimates were made using 2.0 m down hole
composites capped at 3% WO3. Geological boundaries were used
to confine the estimations within each rock unit. These were drawn on
cross section and then triangulated into 3-D wireframe shapes. A block
model was constructed using a four metre block size as an appropriate
compromise between a potential open-pit and underground mining operation.
A specific gravity of 2.88 was used for all mineralized material. An
Inverse Distance Squared method was used to interpolate the data set
followed by manual and statistical validation of the model. The Mineral
Resources were classified according to CIM resource categories in
compliance with NI 43-101 guidelines.
SRK believes a cut-off grade of 0.1% WO3 is appropriate for
the deposit type and location. SRK also reported a Mineral Resource
estimate using various cut off grades to demonstrate the sensitivity of
tonnage to increasing cut-off grade.
Mar-Tungsten Deposit Resource Sensitivity
Resource Category
|
% WO3
Cut off
|
Total Tonnes
|
% WO3
Grade
|
Contained WO3
(pounds)
|
Indicated
|
0.20
|
4,170,000
|
0.45
|
41,290,000
|
Inferred
|
0.20
|
1,640,000
|
0.43
|
15,530,000
|
Indicated
|
0.30
|
2,900,000
|
0.54
|
34,510,000
|
Inferred
|
0.30
|
1,180,000
|
0.51
|
13,250,000
|
A copy of the full resource calculation report
will be available on the SEDAR website within 45 days of this press
release. The NI 43-101 mineral resource estimate, which is effective
today, was prepared by SRK Consulting (US) Inc., an independent
consulting firm. The qualified person (as described under NI 43-101)
responsible for the resource estimate and technical content of this press
release is Dr. Bart Stryhas, PhD, a Principal Resource Geologist at SRK.
*Greg Mosher, P.Geo. of Wardrop Engineering Incorporated, Canada, was the
independent Qualified Person under NI 43-101 responsible for the Eagle
Zone gold resource estimate.
Quality Control, Assurance and Data Verification
Data supporting the Mar-Tungsten Mineral Resource estimate was verified
in two areas. The first pertains to the electronic database and the
second involved re-assay of the historical core.
Information from the historic drill logs was
manually input into an electronic database. The resulting electronic
database was then printed and verified to the original drill logs. Corrections
were made and the procedure was repeated until no errors were found.
StrataGold also conducted a re-assay program on
the historical core. The Quality Control and Assurance program (QC/QA)
utilized control samples which included Blanks and Standards. Comparable
intervals from 18 holes were resampled throughout the deposit and at a
variety of depths. In total, 120 samples representing over 462 m of drilling were
analyzed. The results of the re-assay program verified the original assay
analyses and suggest that at higher grades of mineralization, the
historical analyses may be reported slightly lower than their modern
counterparts.
The program was conducted under the supervision
of SRK qualified persons Dr. Bart Stryhas, Principal Resource Geologist
and Leah E. Mach, Principal Resource Geologist as well as Terry Tucker,
P.Geo., StrataGold's President and CEO. Samples were collected from the
core storage facility on site, prepared by StrataGold personnel in
Whitehorse and subsequently freighted to ALS Chemex in North Vancouver
for analysis. ALS Chemex is an ISO 9001:2000 accredited laboratory.
SRK is not aware of any known environmental, permitting, legal, title,
taxation, socio-political, marketing or other relevant issues which would
materially affect the Mar-Tungsten Deposit Mineral Resource estimate
described herein.
About StrataGold
StrataGold is a gold development company focused on the systematic
exploration and development of two advanced-stage gold projects and a
regional joint venture exploration program (50/50 StrataGold/Newmont). A 9,000 m drilling
program will commence at Dublin Gulch this spring when weather conditions
permit and will focus on defining additional gold resources on the Eagle
Zone. 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: 604-682-5122
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. Information inferred from the interpretation
of drilling results and information concerning mineral resource estimates
may also be deemed to be forward looking statements, as such information
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; and the Company's statements regarding estimates
of resources on properties in which the Company has an interest. 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; 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. 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.
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.
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