Mar. 30, 2011 (Canada NewsWire Group) --
SB: TSX Venture Exchange
Issued: 65,045,111 shares
CALGARY, March 30 /CNW/ - Stratabound Minerals Corp. (TSX.V:SB) has received a Technical Report supporting the previously released updated mineral resource estimate for its 100%-owned Captain Deposit, located in the Bathurst Mining Camp of northeastern New Brunswick. This National Instrument 43-101 compliant report prepared by Mercator Geological Services Ltd. of Dartmouth, Nova Scotia has been filed on SEDAR.com, and is also available for review on the company's website, www.stratabound.com.
Based on the updated Mercator resource model, the Captain deposit is now characterized by a plunge extent of at least 400 metres of disseminated, stringer, semi-massive, and massive sulphide mineralization measuring approximately 150 metres in surface strike length and having a maximum width of about of 50 metres.
The Captain deposit remains open down plunge and Mercator recommends that additional deposit-extension drilling be carried out at depth and along strike, as well as some infill drilling at mid-elevation. A program of borehole electromagnetic surveying has also been recommended to support future drilling.
Recent detailed studies of Captain drill core undertaken on Stratabound's behalf by independent geological consultant Dr. S. R. McCutcheon supports management's view that the Captain deposit is an overturned "feeder stockwork" zone, i.e. a footwall alteration pipe, on or near the contact between Nepisiguit Falls Formation and Flat Landing Brook Formation strata (the "Brunswick Horizon"), presenting a new high-quality exploration target for nearby exhalative lead-zinc-silver massive sulphide mineralization. Dr. McCutcheon recently retired as Manager of the Bathurst office of the New Brunswick Geological Surveys Branch and is a recognized authority on the stratigraphy, structure, and mineral deposits of the Bathurst Mining Camp.
Mercator reports that McCutcheon's interpretation "provides important insight with respect to the Captain deposit in the broader context of potentially related, but undiscovered, polymetallic massive sulphide zones".
Management considers the results and recommendations arising from both the resource estimation and geological interpretation programs to be significant and encouraging. Of particular importance is the potential for discovery at depth of new massive sulphide mineralization related to the Captain feeder-stockwork zone. Detailed planning is now underway for the next phase of Captain exploration, which will incorporate drill testing of recommended target areas that were defined by the 2010 programs described above.
Details of the updated resource estimate were announced by Stratabound in a news release dated December 8, 2010. Compared to the previous 2008 resource estimate, increases in tonnage and in-situ metal content are apparent across all resource categories and cut-off grades.
Stratabound is currently awaiting a Preliminary Economic Assessment based on these results, which is being prepared by Wardrop Engineering of Toronto, Ontario.
About Stratabound Minerals Corp.
Stratabound is a Canadian natural resource company exploring and developing gold and base metal properties in eastern Canada. It is currently focused on building a resource base in the infrastructure-rich, world-class Bathurst Mining District of northern New Brunswick.
The technical information contained in this release has been reviewed by John Duncan, P.Geo. and Stan Stricker, P.Geol., Qualified Persons as defined in National Instrument 43-101.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
WARNING: the Company relies upon litigation protection for "forward looking" statements. The information in this release may contain forward-looking information under applicable securities laws. This forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those implied by the forward-looking information. Factors that may cause actual results to vary materially include, but are not limited to, inaccurate assumptions concerning the exploration for and development of mineral deposits, currency fluctuations, unanticipated operational or technical difficulties, changes in laws or regulations, the risks of obtaining necessary licenses and permits, changes in general economic conditions or conditions in the financial markets and the inability to raise additional financing. Readers are cautioned not to place undue reliance on this forward-looking information. The Company does not assume the obligation to revise or update this forward-looking information after the date of this release or to revise such information to reflect the occurrence of future unanticipated events, except as may be required under applicable securities laws.
Stan Stricker, P. Geol, President
403-258-3630
info@stratabound.com
www.stratabound.com