- Stratabound Minerals (SB) has launched a diamond drilling program at its wholly owned Captain copper, cobalt and gold deposit in New Brunswick
- Drilling has been designed to extend and upgrade a mineral resource estimate that was published in early December 2010
- Based on a 1.4 per cent copper equivalent cut-off, the Captain deposit hosts 162,000 tonnes at 1.47 per cent copper, 0.04 per cent cobalt and 0.24 grams per tonne of gold
- The company intends to drill 1,000 metres across 10 holes in a program that is scheduled to reach completion in mid-November
- Stratabound Minerals (SB) is currently up 4.55 per cent and is trading at C$0.23 per share
Stratabound Minerals (SB) has launched a diamond drilling program at its Captain copper, cobalt and gold deposit in New Brunswick.
The Toronto-based company intends to drill a total of 1,000 metres in 10 holes at the project, which sits along the Brunswick Horizon, a region that host a number of past-producing zinc, lead, copper and silver mines.
This work has been designed primarily to extend and upgrade a previous mineral resource estimate that was compiled by Mercator Geological Services and published in early December 2010.
According to the estimate, the Captain deposit hosts 162,000 tonnes at 1.47 per cent copper, 0.04 per cent cobalt and 0.24 grams per tonne of gold, based on a 1.4 per cent copper equivalent cut-off grade.
Since 2010, additional exploration work has been completed at the Captain deposit. This included seven holes that were completed in 2014, which returned near-surface intersections of up to 1.71 per cent copper, 0.049 per cent cobalt, 0.207 grams per tonne of gold and 6.26 grams per tonne of silver over 7.5 metres.
R. Kim Tyler, President and CEO of Stratabound Minerals, said that while the company’s primary focus is on the Golden Culvert Gold Project in the Yukon, the copper and cobalt deposits at Captain offer a significant opportunity.
“We have an excellent asset by way of our Captain copper-cobalt-gold-silver deposit in a highly prolific jurisdiction amongst world class base metals deposits in the midst of the Bathurst, New Brunswick Camp that we are as obliged, as we are keen, to explore and develop to full potential,” he added.
Stratabound Minerals (SB) is currently up 4.55 per cent and is trading at C$0.23 per share at 10:57am EDT.
