Stratabound Minerals Corp. has reported additional drill results from its 100%-owned Captain copper-cobalt deposit, located within the infrastructure-rich Bathurst mining camp of northern New Brunswick.
The company has commissioned Mercator Geological Services Limited, to update the 2009 National Instrument 43-101 compliant Captain resource estimate to include results of the last five drillholes. The company anticipates the updated resource estimate will be available this month. This resource will form part of the Preliminary Economic Assessment (PEA) of the combined resources of this deposit and Stratabound's nearby, wholly-owned CNE and Taylor Brook zinc-lead-silver deposits. The PEA is being conducted by Wardrop, A Tetra Tech Company.
Four additional holes have been completed at Captain since the positive results of Hole 26, a 100-metre downdip extension, reported on March 24, 2010. Hole 26 intersected 19.5 metres grading 1.12% copper and 0.034% cobalt, including 8.5 metres of 2.11% copper and 0.052% cobalt.
Hole CP-10-28 was collared 50 metres west of previously reported drillhole CP-15 (news release August 7, 2008). The hole flattened with depth, intersecting the mineralized zone at right angles, so the intervals reported below are approximate true thicknesses. The hole intersected a strong cobalt zone, 85.5 metres in thickness, averaging 0.035% Co and containing some of the highest cobalt grades seen to date. This interval of cobalt enrichment envelops a 32.5 metre zone of copper mineralization.
Hole CP-10-27 was drilled 20 metres south of Hole 26. A seven-metre interval of drill core contains anomalously high zinc and lead levels of 0.34% Zn and 0.11% Pb from 184m to 191m, possibly indicating proximity to undiscovered lead-zinc mineralization. A few cobaltiferous streaks are present, the best of which grades 0.073% cobalt across 3 metres.
Hole CP-10-29, located 30 metres north of Hole 28, intersected several low-grade copper intervals ranging from one metre of 0.83% Cu to 5m of 0.21% Cu.
Additionally, Stratabound has begun a 1,000 metre drilling program on the Stewart copper occurrence on ground optioned from Commander Resources, situated adjacent to the north boundary of Stratabound's CNE/Captain claims.
Exploration of the Bathurst properties is under the supervision of John Duncan, P.Geo. Drill core is securely stored at Stratabound's core shack facility in Bathurst. Analysis of half-core samples is done by Eastern Analytical Limited of Springdale, Newfoundland. Stratabound has Quality Control and Quality Assurance protocols in place for drill core that include blank samples, duplicate samples, certified standards and third party check samples.
The technical information contained in this release has been reviewed by John Duncan, P.Geo. and Stan Stricker, P.Geol., Qualified Persons as defined in National Instrument 43-101.
Source: Stratabound Minerals Corp.