Stratabound Minerals Corp. [SB-TSXV] reported the results received from its Phase 1 field program concluded this summer at its flagship Golden Culvert Project, Yukon Territory. A surface geochemistry sampling program outlined a 1 km long by up to 100 metres wide gold-mineralized boulder field of surface float-trains linking likewise gold-mineralized quartz vein structures exposed in outcrop, subcrop and trenching in previous programs either side of the Main Discovery outcrop.
The top 10% highest grade samples were distributed across 670 metres of strike, 290 metres of vertical relief and included 320.0 g/t gold, 155.0 g/t, 147.0 g/t, 118.0 g/t (with visible gold), 92.9 g/t (with visible gold), 41.8 g/t, 26.6 g/t, 25.2 g/t,17.10 g/t, and 16.55 g/t gold.
All 93 surface samples averaged 13.27 g/t gold uncapped, (8.82 g/t Au capped). Visible gold was identified in two of the samples that assayed 118.0 and 92.9 g/t gold respectively and only two samples in the group were below assay detection limits. Sampling was done selectively on sulphide-bearing quartz float-trains along strike of the known exposed vein outcrops and subcrops, and may not represent the true grade or style of mineralization.
Kim Tyler, President and CEO, commented, “This continued evidence of high-grade gold in the region further exemplifies the 5,401 g/t gold discovery in 2003 at the nearby 3 Aces property located 25 km south of our project. We look forward to receiving assay results from our recently completed latest phase of drilling, just below the float-trains and subcrops described in this press release. The significance is that much of the gold found lying about in float-trains linking gold-bearing outcrop on surface here at the Golden Culvert remains at, or near, its sources.”
The diamond drill program has concluded for the 2020 season. A total of 25 diamond drill holes comprised of 4,587 metres and 24 trenches have now been completed over 1 km of strike to date.
Shares of Stratabound gained $0.65, or 26%, to $0.31 on a volume of 902,300 shares traded.