Category: Uncategorized
- Published: 29 November -0001
StrataGold announces drill results from the Mar-Tungsten deposit
StrataGold Corporation (SGV-TSX) (\"StrataGold\" or the \"Company\") is pleased to announce initial results from the C$5 million 2008 diamond drill (DD) program on the Dublin Gulch property. This year, StrataGold aims to increase the resource of both the Eagle Zone and Mar-Tungsten Deposits. A total of 34 DD holes were completed on the Mar-Tungsten Deposit in 2008 totaling 4057.68 metres (m). Drilling on the Eagle Zone Deposit is ongoing with results pending.
In January 2008, SRK Consulting (US) Inc. (SRK) provided StrataGold with a National Instrument (NI) 43-101 Mineral Resource for the Mar-Tungsten Deposit based on 86 DD holes completed in 1979 and 1980 and prior to StrataGold\'s acquisition of Dublin Gulch.
Mar-Tungsten Mineral Resource*
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Category of Contained WO(3) MTU
Mineral Resource Tonnes % WO(3) (pounds) (metric tonne units)
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Indicated 5,310,000 0.39 45,590,000 2,070,900
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Inferred 2,170,000 0.36 17,220,000 781,200
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* Using cut-off of 0.10% WO(3) - see news release dated January 15,
2008.
The 2008 DD program on the Mar-Tungsten Deposit has successfully extended the scheelite skarn zones of the Mineral Resource up dip toward the surface and along strike. The Mar-Tungsten Deposit remains open down dip and along strike in both directions. All DD results have been received and are presented in the table below. Interval widths are approximately true width. Trench results are pending.
StrataGold is evaluating opportunities to realize value for the Mar-Tungsten Deposit for its shareholders. SRK has been engaged to supervise metallurgical test work ongoing at SGS Laboratories, update the Mineral Resource and complete a Preliminary Economic Assessment that is scheduled for completion in December 2008.
Diamond Drill Results
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Hole From (m) To (m) Interval Width (m) WO(3) Grade (%)
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MT08-003C 14.18 18.18 4.00 0.17
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MT08-004C 72.80 77.80 5.00 0.32
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MT08-006C 32.50 34.50 2.00 0.68
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MT08-008C 40.18 45.18 5.00 0.41
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MT08-009C 2.13 7.13 5.00 0.24
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MT08-010C 51.71 63.60 11.89 0.42
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MT08-011C 13.20 16.20 3.00 0.55
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and 98.44 110.50 12.06 0.59
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and 131.10 147.62 16.52 0.50
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MT08-012C 63.78 71.36 7.58 1.65
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MT08-013C 27.13 47.14 20.01 0.35
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MT08-014C 127.95 137.45 9.5 0.43
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and 182.67 188.1 5.43 0.24
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MT08-016C 22.20 33.80 11.6 0.65
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MT08-017C 30.22 33.61 3.39 0.66
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MT08-018C 48.74 50.74 2.00 0.40
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MT08-019C 191.33 197.33 6.00 0.46
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MT08-021C 70.64 74.64 4.00 0.41
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MT08-022C 20.76 26.76 6.00 0.59
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and 63.76 68.76 5.00 0.27
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MT08-023C 23.52 33.52 10.00 0.23
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MT08-024C 62.62 65.62 3.00 0.56
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and 85.62 89.62 4.00 0.49
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and 116.62 122.62 6.00 0.22
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MT08-026C 84.04 87.04 3.00 0.44
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MT08-027C 114.72 120.55 5.83 0.35
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MT08-028C 87.00 92.80 5.80 0.56
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MT08-030C 43.70 51.70 8.00 0.23
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MT08-031C 135.25 153.50 18.25 0.23
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MT08-032C 12.60 17.90 5.30 0.11
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MT08-033C 106.30 115.20 8.90 0.13
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MT08-034C 1.52 6.60 5.08 0.37
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MT08-005C, 007C, 015C, 025C and 029C had no significant intersections
MT08-001C, 002C and 020C were abandoned
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 (WO(3)). One MTU contains 10 kilograms of WO(3) 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 August 8, 2008 was US$254 per MTU (10 kilograms or 22.04 pounds WO(3) per MTU) which equates to US $25.40 per Kilogram or US $11.55 per pound.
Quality Control and Assurance
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 Mar-Tungsten 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 National Instrument 43-101.
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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.
About StrataGold
StrataGold is a gold development company focused on the systematic exploration and development of two advanced-stage gold projects and the BRL Venture with Newmont in Guyana. To obtain additional information, photos, project updates and maps pertaining to this news release, please visit: 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 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; 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 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.
SOURCE: STRATAGOLD CORPORATION
Terry Tucker, President and CEO, Vanessa Pickering, Manager, Investor Communications StrataGold Corporation, Tel: (604) 696-6601, E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it., Website: www.stratagold.com
