StrataGold Increases Gold Resource at Dublin Gulch, Yukon
Vancouver, Canada (ots/PRNewswire)
StrataGold Corporation (TSX: SGV) is pleased to announce that a new independent resource estimate by Wardrop Engineering Incorporated has increased the indicated gold resource of the Eagle Zone at Dublin Gulch, Yukon by over 18% for a total of 1,960,000 indicated ounces of gold and 371,000 inferred ounces of gold (at a 0.5 g/t gold cut off).
Eagle Zone, Dublin Gulch - Indicated and Inferred Resources
Indicated Resource
Gold cut off grade Tonnes Gold grade Contained gold
(g/t) (g/t) (troy ounces)
0.50 66,540,000 0.916 1,960,000
Inferred Resource
Gold cut off grade Tonnes Gold grade Contained gold
(g/t) (g/t) (troy ounces)
0.50 14,390,000 0.803 371,000Notes
1. Tonnes and troy ounces of gold have been rounded to the nearest thousand.
2. Gold resources reported above have been calculated as of February 21, 2006 in accordance with the standards of the Canadian Institute of Mining, Metallurgy and Petroleum and guidelines of National Instrument 43-101.
3. Indicated classification: two drill holes within a 60x60x60 meter search and one of these drill holes within 30 metres or four drill holes within 60x60x10 meter search.
4. Inferred classification: beyond indicated resource and two drill holes within 100x100x100 meters and one of these drill holes within 60 meters or beyond indicated resource and one drill hole within 30x30x20 meters.
5. Gold capped at 10.5 g/t gold.
6. Troy ounce (equal sign) 31.103 grams gold.
7. Not all tonnage would be recovered in mining, nor would all gold be recovered in processing.
In completing the National Instrument 43-101 compliant resource estimate, Wardrop Engineering reviewed the information collected from the 2005 exploration program including 34 diamond drill holes totalling 8,105 metres and historical information from 275 reverse circulation and diamond drill holes. Databases were verified, classical statistics were evaluated and variography was undertaken. The new resource was estimated by three interpolation methods: nearest neighbour, inverse distance squared and ordinary Kriging of a 3D block model, with gold capped at 10.5 g/t. No significant discrepancies exist between the methods and ordinary kriging was used for the resource tabulation. Bulk density samples taken from the 1995 and 1996 drilling appear to be consistent with expected values for intrusive and metasedimentary rock types and were assigned for each block, and resources were classified and reported following model valuation.
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 and title issues. StrataGold is not aware of any current substantive issues that would materially affect any resource estimate of the Eagle Zone, which was the subject of a 1997 feasibility study, or other gold deposits in the Dublin Gulch area. A technical report supporting these resource estimates will be filed on SEDAR within 45 days, as required.
The 2005 exploration program was overseen by Qualified Person Jim Sparling P.Geo., Manager, Exploration North and Central America for StrataGold Corporation. Onsite direction for the Dublin Gulch Project was by Qualified Person Dave Hladky, P. Geo., Senior Project Geologist, StrataGold Corporation. It should be noted that StrataGold Corporation has an internal quality assurance and quality control (QA/QC) protocol that included the insertion of Blank, Standard and Duplicate assay samples with each batch of 20 assays submitted to ALS Chemex Labs in Vancouver, BC. ALS Chemex is recognised as an ISO 9001:2000 accredited laboratory. As well, two Preparation Duplicate/Check Assays were prepared during milling at the ALS Chemex Lab with one of these submitted to ACME Analytical Labs once in every 20 samples Gold analysis was done by Fire Assay and AAS with trace Hg via cold vapour/AAS and included a 27 element four acid ICP-AES (ALS-Chemex). Additionally 12 Blank and 1 Standard sample were sent to each of 3 independent ISO 9001:2000 accredited labs to test for consistency and to verify that no gold was present in the Blank material.
Independent Qualified Persons Rob Carter, P.Eng. of Wardrop Engineering Incorporated of Toronto, Greg Mosher, P.Geo. of Wardrop Engineering Incorporated of Vancouver, BC, Canada and Qualified Person Mr. Jim Sparling, P.Geo., Manager, Exploration North and Central America for StrataGold Corporation have reviewed and approved the contents of this press release.
About StrataGold
StrataGold Corporation is a well-funded gold development company focused on the systematic exploration of two advanced-stage gold projects. To obtain additional information, photos and weekly project updates please visit: www.stratagold.com
Forward Looking Information:
This release includes certain statements that may be deemed "forward- looking statements". All statements in this release, other than statements of historical facts, that address future production, reserve or resource potential, exploration drilling, exploitation activities and events or developments that StrataGold expects to occur, are forward-looking statements. Although StrataGold believes the expectations expressed in such forward- looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. StrataGold does not assume any obligation to update or revise its forward- looking statements, whether as a result of new information, future events or otherwise.
Information Concerning Estimates of Mineral Resources:
This news release uses the terms "inferred resources", "indicated resources" and "mineral resources". StrataGold advises investors that although these terms are recognised 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 recognise these terms. Investors 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 all or any part of an 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 NI 43-101. Investors are cautioned not to assume that part or all of an inferred resource exists, or is economically or legally mineable.
For more information on StrataGold, Investors should review the Company's filings available at www.sedar.com.
Website: www.stratagold.com
Contact:
Mr. Terry L. Tucker, President and CEO; Ms. Vanessa Pickering,
Manager, Investor Communications, StrataGold Corporation, Tel:
+1-604-682-5474, E-mail: info@stratagold.com