Dec 22 2010
Strait Gold Corporation (TSX VENTURE:SRD) has reported it has completed the eighth and final hole of the 2010 exploration program at its Alicia copper-gold project in southern Peru. Drilling will resume in January, 2011, following the Christmas holiday season in Peru.
Assay results from the first two holes in the 2010 reconnaissance drilling campaign, which included 20.4 metres (true width) grading 1.26% copper, 0.14 grams per tonne (g/t) gold and 6.7 g/t silver and 21.2 metres (true width) grading 1.27% copper, 0.13 g/t gold and 7.5 g/t silver, were reported in a news release dated November 15, 2010. Assay results from the complete 2010 drill program will be announced after all assay data have been received. The initial 1,000-metre drill program budgeted for 2010 is being expanded to a minimum of 2,000 metres and is expected to be completed in the first quarter of 2011.
"We have an aggressive exploration program planned at Alicia for 2011," said Strait Gold President Jim Borland. "Based on our results from drilling, we will complete a new NI 43-101 report in the first quarter of the year. Subject to its recommendations, we expect to continue drilling throughout 2011."
A total of 919 metres of drilling was completed in the 2010 drill program. The 8-hole program tested three of nine skarn zones previously identified on surface along an approximately 3,000-metre contact zone on the perimeter of a porphyry intrusive. Results from the remaining six drill holes are expected to be available early in 2011.
Drilling in January will test the balance of the nine known skarn zones, including those associated with an adjoining porphyry that have been subject to limited exploration to date.
The Company also plans to conduct preliminary exploration on an area approximately 1.5 km southeast of the main skarn showings on the 22-sq.-km property where a number of historic, informal workings are visible. As reported in the most recent NI 43-101 report on the Alicia property, dated October 17, 2009, a previous property owner collected eight samples in this area with average values of 1.3 g/t gold, 91.1 g/t silver, 0.3% copper, 11.5% lead and 6.8% zinc with up to 5.0 g/t gold, 227 g/t silver, 1.0% copper, 27.8% lead and 15.9% zinc in a single sample collected from one waste pile.
All of the Company's exploration programs are prepared by, or prepared under the supervision of, Dr. Roger Moss, P.Geo., who serves as the Qualified Person as defined by NI 43-101 and is a director of the Company. Dr. Moss has reviewed the technical content of this news release.
Source: Strait Gold Corporation