Oct 29 2010
STRONGHOLD METALS INC. (TSX VENTURE:Z) has announced the start of its first diamond drill program at the Tucumã Property, located in the State of Para, Brazil, within the mineral-rich Carajas mining district.
This initial drill program will consist of approximately 15 diamond drill holes to test gold targets within the Cuca concession. The first six holes will test the Filomena target area, which is part of an extensive gold soil geochemistry anomaly, greater than 10 square kilometres in size. Additional drilling is planned to follow-up on several other high-priority gold targets on the property including testing a number of historical surface showings that reported samples up to 54 g/t Au. All of these showings have never been drilled and are being described as mineralized shear hosted quartz veins.
Drilling is currently underway with one rig on a planned 2,300 meter program intended to test gold targets within Stronghold's Cuca concession (see September 8, 2010 news release). In particular the Company will follow-up on historical drill hole T97-11b, which intersected 6.3 grams per tonne gold over 9.12 metres (from 54.32 m to 63.44 metres) in saprolite and 3.96 grams per tonne gold over 14.76 metres including 1.16 metres of 30.17 grams per tonne gold in bedrock of intermediate volcanic rocks (from 120.06 m to 134.82 m).
The program will be supervised by Stronghold's local Brazilian geological team and Dr. Michael Byron, VP, Exploration of the Company.
"The drill arrived on site this week and drilling is now in progress, with our first assay results expected in early December," reported Dr. Byron. "We are very excited with the Tucumã project and look forward to confirming the historical intersections, as well as drilling our other high priority targets."
The Tucumã Property is 100% controlled by Stronghold Metals Inc. and consists of 6 mining concessions comprising a land package of 11,500 hectares. The project is located close to infrastructure, only 12 km from the town of Tucumã. Stronghold's concessions are surrounded by exploration titles belonging to senior mining companies. Several world-class mines exist in the area. Vale, the second largest mining company in the world, is currently developing a major nickel mine, named Once Puma, only 55km north of Stronghold's Tucumã Property.
Mike Byron, Vice President, Exploration for Stronghold, a Qualified Person under NI 43-101, has reviewed and approved the data disclosed in this news release.
Source: STRONGHOLD METALS INC.