(Golden Culvert Float-Train Sample Distribution with Diamond Drills in Operation: View South-east across 290m Vertical Face Exposure; Gold-bearing Structural Zones Overprinted in Yellow.
In mid-November 2020, SB reported the results received from its Phase 1 field program concluded this summer at its flagship Golden Culvert Project in Yukon Territory.
The first phase surface sampling program outlined a boulder field that was 1 kilometre long by 100 metres wide, grading 13.27 grams-per-tonne (g/t) gold averaged from a total of 93 samples. This boulder field is composed of multiple parallel gold-bearing quartz “float-trains” linking mineralized outcrop and trenches grading up to 95 g/t gold over 1.5 metres within 24.41 g/t gold over 6 metres, and overlying drill intercepts up to 60.1 g/t gold over 0.9 metre within 2.53 g/t Au over 33.1 metres.
In the news release for investors on this update, Stratabound’s President and Chief Executive Officer, R. Kim Tyler called this continued evidence of high-grade gold in the region, which further exemplified the 5,401 g/t gold discovery in 2003 at the nearby 3 Aces property located 25 kilometre to the south of the Project and recently acquired by billion-dollar industry heavyweight Seabridge Gold (TSX: SEA), a significant new presence in the Company’s neighbourhood.
“The unique and special feature of our Golden Culvert region, and the Yukon in general, is that it was once a land-bridge during past ice-ages connecting North America with Asia, and was not covered by kilometres-thick flowing continental ice sheets as most of the remaining North American continent was. The significance is that much of the gold found lying about in float-trains linking gold-bearing outcrop on surface here at the Golden Culvert remains at, or near, its sources. Mineralization has not been scraped clean and transported thousands of kilometres away, nor have these sources been covered and hidden by thick accumulations of glacial till and overburden as has occurred elsewhere on the continent. This makes our exploration work of simply following the trains of mineralized boulders especially simple, effective, and rewarding. The evidence for significant high-grade gold mineralization in our district lies, literally, at our feet as this work program has clearly demonstrated.”
Upon releasing news on its results, Company stock broke a fresh 52-week record high at $ 0.38 (CAD), this represents a strong investment opportunity, as this stock is likely to trend higher as more news rolls in. This region of Canada is vastly under-explored and offers immense potential.
(Stratabound Minerals Corp. stock chart, Nov 2019 – Nov 2020. Click to enlarge.)
With the second phase drill program recently complete under the boulder field, the Company will soon receive assay results from this latest phase of drilling, just below the float-trains and subcrops.
(Golden Culvert Float-Train Sample Distribution and Recently Completed Drilling (Plan View). Image via Stratabound Minerals Corp. Click to enlarge.)
Under Stratabound’s exploration permit, its drill program has concluded for the 2020 season and saw 17 diamond drill holes completed for a total of 3,217 metres across 1 kilometre of strike length. This program focused exclusively under the gold-mineralized float-trains (detailed in the image above).
So far, eight diamond drill holes totaling 1,370 metres and 24 surface trenches have intersected and outlined a 970-metre-long by 130-metre-wide mineralized corridor containing multiple parallel gold-bearing structures that have been targeted for definition and extensional drilling this season. A total of 25 diamond drill holes comprised of 4,587 metres and 24 trenches have now been completed over 1 kilometre of strike.
Having also completed $6.7 million in funding earlier this month, Stratabound debt-free and fully funded going forward and can fully capitalize on the riches of its project. This is one to watch for investors to see what happens next, as Stratabound Minerals Corp. expects initial assay results in late December 2020.
To find out more about the Company, head to stratabound.ca