StrataGold Reviews 2006 Exploration and Development Programs
Vancouver, Canada (ots/PRNewswire)
StrataGold Corporation (TSX: SGV) is pleased to provide a review of our 2006 exploration and development programs at Tassawini and Barama JV, Guyana and Dublin Gulch, Yukon. Since our corporate update at the end of August (see August 30, 2006 news release), the Company has announced several new discoveries at Dublin Gulch, Yukon and Tassawini, Guyana and successfully completed the exercise of 100% of the warrants from our 2004 financing. With approximately C$18 million in the treasury and over $13 million of that total allocated towards exploration and development in 2007, StrataGold is well-positioned to continue the aggressive advancement of our properties in North and South America.
Exploration and Development Update
Tassawini - Guyana
The 2006 C$9 million exploration and development program achieved a total of 26,282 metres (m) of diamond drilling (DD) in 187 holes and 22,776 m of reverse circulation (RC) drilling in 637 holes. To date, we have reported 90 DD holes and 226 RC holes with 97 DD and 411 RC results pending. Drill results reported in mid-September announced the discovery of a new zone of gold mineralization called Mine Creek located 100 m north of Tassawini West. The Mine Creek discovery confirmed that Black Ridge, Mine Creek, Tassawini West and Tassawini East are all a part of the same gold mineralized system with the true widths of individual zones ranging from 10 m to 50 m. Acme Labs opened a certified sample preparation facility in Georgetown, Guyana in November 2006 which should ensure a more timely receipt of assay data from our samples in 2007.
Tassawini is fortunate to have a deep weathering profile identified from drill core. Tropical weathering has altered the gold-bearing metasedimentary rocks into "saprolite" (a soft clay-like rock) up to 80 m in thickness. Encouraging preliminary metallurgical results (see October 18, 2006 news release) completed on this material demonstrates excellent gold recoveries ranging up to 95%.
The Company is advancing scoping level engineering work at Tassawini. Following delivery of a resource estimate, which will incorporate all the DD holes completed to the end of 2006, proposed engineering work will include accurate topographic data, additional metallurgical test work, and preliminary pit designs and site layout. Socioeconomic studies and environmental baseline work is continuing and will be required for any future environmental assessment of the project. Pincock, Allen & Holt is leading the engineering work, with Klohn Crippen managing the baseline and socioeconomic work.
Guyana (StrataGold and Newmont)
Following compilation of data from a 2006 regional stream sediment
sampling program, StrataGold, with JV partner Newmont Overseas
Exploration Ltd., commenced drilling on the Monosse property in late
November 2006. Monosse is the only property within the 4,500 square
kilometer ('km') Barama Reconnaissance Permit ("BRP") that has seen
any modern exploration, besides StrataGold's wholly owned Tassawini
and Anaturi properties. Detailed stream and soil geochemical
surveys, trenching and a 3,000 m DD program were completed by
Toscana Resources Ltd and Champion Resources Ltd during the period
from 1994 to 1999. StrataGold and Newmont's initial 2,000 m DD
program at Monosse commenced with a series of due diligence holes to
twin some of Toscana's historical holes, followed by a systematic
drill program to be announced in 2007.Champion and Toscana's historical findings as well as project updates can be found at our website at www.stratagold.com.
Dublin Gulch - Yukon
The 2006 C$2.3 million exploration and development program at Dublin Gulch yielded positive results including the discovery of a new zone of mineralization called the Steiner Zone located 700 m northwest of the Eagle Zone. Historical RC drilling at the Steiner Zone intersected gold mineralization within a large granodiorite stock that is associated with the same granodiorite that hosts gold mineralization at the nearby Eagle Zone. The Steiner Zone remains open to the north, south, west and at depth and represents a significant new gold exploration target.
Extensive geochemical soil sampling and trenching was completed at Dublin Gulch in 2006 to explore the potential for gold resources north and east of the Eagle Zone. As a result of this work, the Shamrock/Cascallen Zone was discovered approximately 3 km northeast of the Eagle Zone and returned trench sample results with positive gold and silver values.
Most of the work to date at Dublin Gulch has focused on the Eagle Zone where drilling in 2005 confirmed an Indicated and Inferred gold resource of 1,960,000 and 371,000 ounces of gold respectively (see February 27, 2006 News Release)(x). One of the highlights of the 2006 exploration season was DG06-314C which successfully intersected the Eagle Zone 180-200 m below the existing resource. The Eagle Zone remains open along strike to the east and west and the results from 2006 represent an opportunity to define additional resources at depth.
(x) Resource estimate completed by Wardrop Engineering Incorporated.
The 2005 and 2006 Dublin Gulch exploration programs were overseen by Qualified Person Jim Sparling P.Geo., Manager, Exploration North and Central America for StrataGold Corporation.
Everyone at StrataGold would like to wish you the best in 2007 and we look forward to sharing our successes at Tassawini, Dublin Gulch and the Barama JV as exploration and development progress.
About StrataGold
StrataGold 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.
This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recover processes etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. StrataGold relies upon litigation protection for forward-looking statements.
Contact:
For further information: Mr. Terry L. Tucker, President and CEO, Ms.
Vanessa Pickering, Manager, Investor Communications, StrataGold
Corporation, Tel: +1-604-696-6601, E-mail: info@stratagold.com,
Website: www.stratagold.com