- Published: 14 January 2009
- Written by Editor
StrataGold increases the Dublin Gulch Eagle Zone Deposit indicated gold resource by 37% to 2.7 million ounces
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).
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Eagle Zone Deposit Resource Statement Capped*
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Contained Gold
Gold Grade Gold Cut-off Grade
Resource Category Tonnes (g/t) (troy ounces) (g/t)
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Indicated 98,584,000 0.849 2,690,400 0.50
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Inferred 2,023,000 0.671 43,630 0.50
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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.
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Eagle Zone Deposit - Sensitivity analysis of tonnage and grade using
comparative cut-offs
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Gold Grade Contained Gold Gold Cut-off Grade
Tonnes (g/t) (troy ounces) (g/t)
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164,913,000 0.666 3,531,700 0.30
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129,231,000 0.754 3,131,300 0.40
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98,584,000 0.849 2,690,400 0.50
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75,937,000 0.938 2,291,100 0.60
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56,374,000 1.039 1,883,300 0.70
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41,587,000 1.142 1,527,500 0.80
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31,071,000 1.242 1,240,900 0.90
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23,318,000 1.340 1,004,400 1.00
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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.
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*Notes
1. 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.
2. All figures have been rounded to reflect the relative accuracy of the
estimates.
3. 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.
4. 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.
5. 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.
6. Criteria used to identify a block as an Indicated resource is three
drill holes within a 140 x 80 x 80 m search.
7. Troy ounce = 31.103 grams gold.
8. 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.
9. 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.
10. The Mineral Resource estimate is effective January 13, 2009
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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: 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.
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
