Stratabound Reports on Exploration Progress on Golden Culvert and Win Gold Projects and Receives Yukon Government Exploration Grant
Toronto, Ontario--(Newsfile Corp. - August 11, 2022) - Stratabound Minerals Corp. (TSXV: SB) (OTCQB: SBMIF) ("Stratabound" or the "Company") is pleased to announce its summer field exploration program has concluded and results are pending on its Golden Culvert and nearby new Win gold projects located in the southeast Yukon within 20 km of Seabridge Gold's high-grade 3 Aces gold project. The Company is also pleased to report it has received the maximum $50,000 grant allowed under the Yukon Mineral Exploration Program (YMEP) towards funding the Golden Culvert 2022 program.
A 6-person field crew was deployed to ground check multiple new gold-in-soil anomalies derived from soil sampling programs discovered during the 2021 field season. Three significant new gold-in-soil anomalies yielding results continuously above 20 to 1,050 parts per billion (ppb) gold average over a kilometre in strike length and between 50 and 350 metres in width. The new anomalies demonstrate a strong periodicity occurring at approximate 2-km intervals along some 14 kilometres of strike north of, and including, the Golden Culvert Main Discovery Zone. Numerous additional smaller and discontinuous anomalies between 20 ppb and 190 ppb gold were also identified along a strike corridor of previously identified gold-mineralized trends.
Mr. R. Kim Tyler, President and CEO of the Company, stated, "We are investigating the 2021 gold-in-soil anomalies in detail on the ground and hope to discover mineralized bedrock sources and float trains that similarly characterize the Main Discovery area that has yielded diamond drill results of up to 2.53 g/t gold over 33.1m including 60.1 g/t gold over 0.9m, trench values up to 95.0 g/t gold over 1.5m, and surface float-train samples yielding up to 320 g/t gold within a 3-km by 250-m wide gold-in-soil anomaly."
He added, "We are also very appreciative to receive the support and confidence of the Yukon Government and Geological Survey for providing us once again with funding assistance."
Stratabound Minerals Corp. is a Canadian mineral exploration and development company that is developing its advanced-stage flagship Fremont Gold Project in the Mother Lode Gold Belt of California. The Project includes the Pine Tree/Josephine Deposit hosting an NI 43-101 Mineral Resource estimate of 526,000 ounces at an average grade of 1.60 g/t Au in the Indicated, plus 452,000 ounces at an average grade of 1.29 g/t Au in the Inferred Mineral Resource categories, respectively1). Additionally, Fremont also hosts three undeveloped gold occurrences across four kilometres of strike along the prolific Mother Lode Gold Belt.
The Company is also advancing its pipeline of other early-stage gold exploration projects including the Golden Culvert, YT and McIntyre Brook, NB in Canada. Additionally, the Company holds two other projects both of which feature NI 43-101 Mineral Resource Estimates. These include a significant land position in the Bathurst camp of New Brunswick including the Captain Cobalt-Copper-Gold Deposit.
1)(Technical Report on the Fremont Gold Project, Central California, USA. Report for NI 43-101 Stratabound Minerals Corp. SLR Project No: 233.33360.R0000 September 30, 2021, SLR Consulting (Canada) Ltd. Filed on SEDAR.
Mr. R. Kim Tyler, P.Geo., President and CEO of Stratabound, and a "Qualified Person" for the purpose of NI 43-101, has reviewed and approved the contents and technical information of this news release.
Neither the 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, failure to obtain regulatory, exchange or shareholder approval, 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.