StrataGold commences drilling at Dublin Gulch, Yukon
Wed May 28, 9:03 AMVANCOUVER, May 28 /CNW/ - StrataGold Corporation (SGV-TSX) is pleased to announce that an 8,500 metre (m) diamond drill program has commenced at its 100% owned Dublin Gulch property, Yukon Territory.
2008 Exploration Program
Exploration conducted by StrataGold since acquisition has successfully increased the gold resource at the Eagle Zone* which remains open to the east, west, south and at depth. The property was purchased in 2004 for approximately $3 USD per gold resource ounce ($6 million USD and 5 million StrataGold shares). Drilling will continue to test the deposit including at depth where previous drilling in 2006 successfully intersected the Eagle Zone 180-200 m below the existing resource model (see news release dated Oct. 26, 2006).
In early 2008, StrataGold reported a NI 43-101 resource estimate on the Mar-Tungsten Zone(xx) using historical drill data from a program completed in 1979-1980, prior to StrataGold's acquisition of the Dublin Gulch property. Based on the recommendation from SRK Consulting (US) Inc. there is potential to add additional tungsten resources both up and down dip and along strike. Drilling will test the deposit up dip and along strike beyond the extent of the existing resource model.(xx)
About Dublin Gulch
Dublin Gulch is located in the north central portion of the Tintina Gold Belt which 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.
* Eagle Zone Resource Statement
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Resource Total Tonnes Gold Grade Gold Cut-off Contained gold
Category (g/t) Grade (g/t) (troy ounces)
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Indicated 66,540,000 0.916 0.50 1,960,000
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Inferred 14,390,000 0.803 0.50 371,000
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(xx) Mar Tungsten Resource Statement
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% WO(3)
Resource Total Tonnes % WO(3) Cut-off Contained MTU (metric
Category Grade Grade WO(3) (pounds) tonne units)
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Indicated 5,310,000 0.39 0.10 45,590,000 2,070,900
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Inferred 2,170,000 0.36 0.10 17,220,000 781,200
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* Greg Mosher, P.Geo. of Wardrop Engineering Incorporated, Canada, was
the independent Qualified Person under NI 43-101 responsible for the
Eagle Zone gold resource estimate. The technical report for the gold
resources at the Dublin Gulch property was filed on March 13, 2006 and
can be found on www.sedar.com.
(xx) Dr. Bart Stryhas, PhD, a Principal Resource Geologist at SRK
Consulting (US) Inc. is the Qualified Persons under NI 43-101 responsible
for the Mar-Tungsten resource estimate. The technical report for the
tungsten resources at the Dublin Gulch property was filed on February 26,
2008 and can be found on www.sedar.com.
Terry Tucker, P.Geo., President and CEO of StrataGold Corporation, is the Qualified Person under NI 43-101 responsible for the technical information in 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," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur. Forward-looking statements in this document include statements regarding the Company's expectations regarding exploration activities 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; the possibility that required permits may not be obtained on a timely manner or at all; 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; and other risks and uncertainties discussed under the heading "Risk Factors" 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.
ContactsMr. Terry L. Tucker
President and CEO Ms. Vanessa Pickering
Manager
Investor Communications
StrataGold Corporation
Tel: (604) 696-6601
E-mail: info@stratagold.com
Website: www.stratagold.com
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