Business
Stratabound Mining and Exploration Update
SB: TSX Venture Exchange       Issued: 75,887,611 shares ...
About this update from Lode Gold Resources Inc
[{"type":"text","content":"\n\n\n\n\n\nSB: TSX Venture Exchange       Issued: 75,887,611 shares\n\n\nCALGARY, May 2, 2013 /CNW/ - Stratabound Minerals Corp. (TSX.V:SB) is pleased to provide an update on its recent mining and exploration\n activities in the Bathurst Mining Camp of northern New Brunswick.\n\n\nCaptain North Extension (CNE Mine)\n\n\nAs previously reported, final regulatory approvals to proceed with\n development and mining at CNE were received on January 24 (news release\n dated January 30, 2013).  With Xstrata Zinc's mill scheduled to shut\n down permanently in mid-April, this left Stratabound a 10-week \"window\n of opportunity\" to develop, mine and truck ore to the mill for\n production and sale of concentrates.\n\n\nConstruction began on January 26, and mining commenced on March 5. \n Reclamation began immediately upon the mill shutdown.\n\n\nSubject to final confirmation, Xstrata reports that 62,720 dry metric\n tonnes (DMT) of CNE ore were milled at an average grade of 8.13% zinc,\n 3.22% lead, and 111 g/t silver.  Saleable production was 6,239 DMT of\n zinc concentrate grading 54.55% zinc; 2,122 DMT of lead concentrate\n grading 41.51% lead and 919 g/t silver; and 1,541 DMT of bulk\n concentrate with 42.21% zinc, 16.27% lead, and 491 g/t silver. \n Payments will be received by Stratabound in May and June, 2013.  Final\n revenue cannot yet be determined, as it will reflect average May prices\n for zinc, lead, silver, gold, and the Canadian dollar versus its U.S.\n counterpart.\n\n\nStan Stricker, President of Stratabound, states: \"The company's\n employees, consultants and contractors did a superb job under adverse\n conditions, overcoming on a daily basis challenges arising from heavy\n rain and snow and the necessity of constantly grading, plowing and\n maintaining 57 kilometres of gravel roads for ore delivery during the\n break-up season.  We are optimistic that revenue will be sufficient to\n cover all costs including reclamation and repayment of our production\n loan, as well as substantial drilling and other exploration in 2013.\"\n\n\nCommander Option\n\n\nStratabound's 2012/2013 winter exploration program focused on surface\n exploration of the optioned Commander property. A drill hole completed\n in October 2012 intersected several copper-bearing sulphide stringer...