January 14, 2009 - Vancouver, BC - StrataGold Corporation (SGV-TSX) ("StrataGold" or the "Company") is
pleased to announce that a new independent National Instrument (NI)
43-101 Mineral Resource estimate for the Eagle Zone Deposit has been
completed by Wardrop Engineering Inc. StrataGold has increased the
Indicated Resource of the Dublin Gulch Eagle Zone Deposit in the Yukon
Territory, Canada by 37% to 2.690 million ounces of gold. The new Mineral
Resource estimate incorporates 13,057.65 metres
(m) of drilling from 2006-2008 into the previously-stated resource
estimate (see news release dated February 27, 2006).
Eagle Zone Deposit Resource
Statement Capped*
Resource Category
|
Tonnes
|
Gold Grade
(g/t)
|
Contained Gold
( troy ounces)
|
Gold Cut-off Grade
(g/t)
|
Indicated
|
98,584,000
|
0.849
|
2,690,400
|
0.50
|
Inferred
|
2,023,000
|
0.671
|
43,630
|
0.50
|
2008 Exploration Program
In 2008, StrataGold
2008 Exploration Program
In 2008, StrataGold drilled 15 diamond drill (DD)
holes on the Eagle Zone Deposit totaling 4248.65 m.
StrataGold spent a total of $5 million at Dublin Gulch in 2008 with the
intention of defining additional compliant resources at both the Eagle
Zone Deposit and the nearby Mar-Tungsten Deposit. Both objectives
were successful (see news release dated December 1, 2008 regarding the
Mar-Tungsten Deposit).
"We had an excellent field season in 2008 at
Dublin Gulch," says Terry Tucker, StrataGold's President and CEO,
"We increased the Indicated Resource of the Eagle Zone by 37% -
combined with delivering a positive Economic Assessment of the
Mar-Tungsten Deposit, Dublin Gulch is rapidly advancing."
The Eagle Zone and Mar-Tungsten Deposits are located
within StrataGold's wholly-owned Dublin Gulch property in the north
central portion of the Tintina Gold Belt, 85 kilometres
northwest of the village of Mayo, Yukon Territory, Canada. The Tintina
Gold Belt is being explored by various exploration companies for
low-grade bulk tonnage, intrusive-hosted gold deposits similar to the
Fort Knox Gold Mine operated by Kinross Gold Corporation in Alaska.
The mineral resources are sensitive to the selection
of the cut-off grade. The table below presents the tonnage and gold
grades within the mineralized shell at various cut-off grades. The
reported quantities and grades are only presented as a sensitivity of the
resource model to the selection of cut-off grade.
Eagle Zone Deposit -
Sensitivity analysis of tonnage and grade using comparative cut-offs
Tonnes
|
Gold Grade
(g/t)
|
Contained Gold
( troy ounces)
|
Gold Cut-off Grade
(g/t)
|
164,913,000
|
0.666
|
3,531,700
|
0.30
|
129,231,000
|
0.754
|
3,131,300
|
0.40
|
98,584,000
|
0.849
|
2,690,400
|
0.50
|
75,937,000
|
0.938
|
2,291,100
|
0.60
|
56,374,000
|
1.039
|
1,883,300
|
0.70
|
41,587,000
|
1.142
|
1,527,500
|
0.80
|
31,071,000
|
1.242
|
1,240,900
|
0.90
|
23,318,000
|
1.340
|
1,004,400
|
1.00
|
Quality Control, Assurance and
Data Verification
A rigorous Quality Control
Quality Control, Assurance and
Data Verification
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. Tamperproof sample bags and sample tags
were utilized for all of the drill samples. All Dublin Gulch drill
samples were prepared and analyzed by ALS Laboratory Group located in
British Columbia, Canada. ALS is an ISO 9001:2000 registered and
accredited to ISO 17025:2005 by the Standards Council of Canada (SCC) for
specific analytical procedures. The control samples and duplicate assay
results received for the drilling program demonstrate to StrataGold that
the results are considered reliable. The technical information in this
news release has been prepared in accordance with Canadian regulatory
requirements set out in NI 43-101.
The exploration program was conducted under the
supervision of qualified person Terry Tucker, P.Geo., StrataGold's
President and CEO. Terry Tucker has reviewed the technical content of
this press release.
*Notes
- Drilling has been audited and validated by Wardrop in
accordance with CIM Estimation of Mineral Resources and Mineral
Reserves Best Practice Guidelines and with NI 43-101 guidelines by����
Bob Jankovic, P. Geo., an independent Qualified Person as defined by
NI 43-101.
- All figures have been rounded to reflect the relative
accuracy of the estimates.
- Mineral resources were estimated at a 0.5 g/t gold cut-off
grade using Datamine Studio 3 block modeling software, block sizes
were 15 by 15 by 15
m.
- The 2009 resource estimate was based on 12.65 g/t gold capped
grade before compositing. The selected assays were composited into 5 m down hole
lengths within the mineralized shell.
- A block size of 15 by 15 by 15 m was selected
in order to accommodate the drill hole spacing and width of the
mineralization.
- Criteria used to identify a block as an Indicated resource is
three drill holes within a 140 x 80 x 80 m search.
- Troy ounce = 31.103 grams gold.
- Mineral resources were classified according to the CIM
Definition Standards for Mineral Resources and Mineral Reserves
(December 2005) by Bob Jankovic, P.Geo., an independent Qualified
Person as defined by NI 43-101.
- Wardrop is not aware of any known environmental, permitting,
legal, title, taxation, socio-economic, marketing or other relevant
issues that could potentially affect this estimate of mineral
resources. The mineral resources may be affected by subsequent
assessments of mining, environmental, processing, permitting,
taxation, socio-economic and other factors. There is insufficient
information at this early stage of study to assess the extent to
which the resources will be affected by these factors, which are
more appropriately assessed in a conceptual study.
- The Mineral Resource estimate is effective January 13, 2009
About StrataGold Corporation
StrataGold is a gold development company focused on
the systematic exploration and development of two advanced-stage gold
projects, Dublin Gulch, Yukon (including the Eagle Zone and Mar-Tungsten
Deposits), Tassawini, Guyana and the BRL Venture with Newmont in Guyana.
To obtain additional information, photos, project updates and maps
pertaining to this news release, please visit: http://www.stratagold.com/.
For further information, please
contact:
Terry Tucker, President and CEO
Vanessa Pickering, Manager, Investor Communications
StrataGold Corporation
Tel: 604-696-6601
E-mail: info@stratagold.com
Website: http://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," "aims," "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 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 work programs; the risk of environmental
contamination or damage resulting from the Company's operations; risks
associated with title to mineral properties; and other risks and
uncertainties discussed under the heading "Risk Factors" in
Section 5 of the Company's Annual Information Form filed on SEDAR 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
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.
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 and permitted
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.
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