StrataGold announces drill results from the Mar-Tungsten deposit

Tag : tungsten
VANCOUVER, Aug. 28 /CNW/ - StrataGold Corporation (SGV-TSX)("StrataGold" or the "Company") is pleased to announce initialresults from the C$5 million 2008 diamond drill (DD) program on theDublin Gulch property. This year, StrataGold aims to increase theresource of both the Eagle Zone and Mar-Tungsten Deposits. A totalof 34 DD holes were completed on the Mar-Tungsten Deposit in 2008totaling 4057.68 metres (m). Drilling on the Eagle Zone Deposit isongoing with results pending.
In January 2008, SRK Consulting (US) Inc. (SRK) provided StrataGoldwith a National Instrument (NI) 43-101 Mineral Resource for theMar-Tungsten Deposit based on 86 DD holes completed in 1979 and1980 and prior to StrataGold's acquisition of Dublin Gulch. The 2008 DD program on the Mar-Tungsten Deposit has successfullyextended the scheelite skarn zones of the Mineral Resource up diptoward the surface and along strike. The Mar-Tungsten Depositremains open down dip and along strike in both directions. All DDresults have been received and are presented in the table below.Interval widths are approximately true width. Trench results arepending.
StrataGold is evaluating opportunities to realize value for theMar-Tungsten Deposit for its shareholders. SRK has been engaged tosupervise metallurgical test work ongoing at SGS Laboratories,update the Mineral Resource and complete a Preliminary EconomicAssessment that is scheduled for completion in December 2008. Tungsten
Tungsten is a strategic metal and emerging economies such as Indiaand China are consuming increasing amounts of tungsten. Tungstenprices are quoted per metric tonne unit (MTU) of contained tungstentrioxide (WO(3)). One MTU contains 10 kilograms of WO(3) and is thestandard weight measure of the tungsten trade. AmmoniumParatungstate ("APT") is an intermediate product in the productionof tungsten metal for which prices are available. The most recentlyquoted price on August 8, 2008 was US$254 per MTU (10 kilograms or22.04 pounds WO(3) per MTU) which equates to US $25.40 per Kilogramor US $11.55 per pound.
Quality Control and Assurance
A rigorous Quality Control and Assurance program (QC/QA) is inplace, using control samples and duplicates, as well as Chain ofCustody (COC) protocols. Tamperproof sample bags and sample tagswere utilized for all of the drill samples. All Mar-Tungsten drillsamples were prepared and analyzed by ALS Laboratory Group locatedin British Columbia, Canada. ALS is an ISO 9001:2000 registered andaccredited to ISO 17025:2005 by the Standards Council of Canada(SCC) for specific analytical procedures. The control samples andduplicate assay results received for the drilling programdemonstrate to StrataGold that the results are considered reliable.The technical information in this news release has been prepared inaccordance with Canadian regulatory requirements set out inNational Instrument 43-101. The exploration program was conducted under the supervision ofqualified person Terry Tucker, P.Geo., StrataGold's President andCEO. Terry Tucker has reviewed the technical content of this pressrelease.
About StrataGold
StrataGold is a gold development company focused on the systematicexploration and development of two advanced-stage gold projects andthe BRL Venture with Newmont in Guyana. To obtain additionalinformation, photos, project updates and maps pertaining to thisnews release, please visit: www.stratagold.com .
Statement Regarding Forward Looking Statements
This news release of StrataGold Corporation (the "Company")contains statements that constitute "forward-looking statements."Such forward-looking statements involve known and unknown risks,uncertainties and other factors that may cause our actual results,performance or achievements, or developments in our industry, todiffer materially from the anticipated results, performance orachievements expressed or implied by such forward-lookingstatements. Forward looking statements are statements that are nothistorical facts and are generally, but not always, identified bythe words "expects," "aims," "plans," "anticipates," "believes,""intends," "estimates," "projects," "potential" and similarexpressions, or that events or conditions "will," "would," "may,""could" or "should" occur. Information inferred from theinterpretation of drilling results and information concerningmineral resource estimates may also be deemed to be forward lookingstatements, as such information constitutes a prediction of whatmight be found to be present when and if a project is actuallydeveloped. Forward-looking statements in this document includestatements regarding: the Company's expectations regarding drillingand exploration activities on properties in which the Company hasan interest; and the Company's statements regarding estimates ofresources on properties in which the Company has an interest. Therecan be no assurance that such statements will prove to be accurate.Actual results and future events could differ materially from thoseanticipated in such statements, and readers are cautioned not toplace undue reliance on these forward-looking statements that speakonly as of their respective dates. Important factors that couldcause actual results to differ materially from the Company'sexpectations include among others, risks related to fluctuations inmineral prices; uncertainties related to raising sufficientfinancing to fund planned work in a timely manner and on acceptableterms; changes in planned work resulting from weather, logistical,technical or other factors; the possibility that results of workwill not fulfill expectations and realize the perceived potentialof the Company's properties; uncertainties involved in theestimation of resources; the possibility that required permits maynot be obtained on a timely manner or at all; the possibility thatcapital and operating costs may be higher than currently estimatedand may preclude commercial development or render operationsuneconomic; the possibility that the estimated recovery rates maynot be achieved; risk of accidents, equipment breakdowns and labourdisputes or other unanticipated difficulties or interruptions; thepossibility of cost overruns or unanticipated expenses in the workprogram; the risk of environmental contamination or damageresulting from the Company's operations; risks associated withtitle to mineral properties; and other risks and uncertaintiesdiscussed under the heading "Risk Factors" in Section 5 of theCompany's Annual Information Form filed on SEDAR and elsewhere inthe Company's documents filed from time to time with the TorontoStock Exchange and Canadian securities regulators. These statementsare based on a number of assumptions, including assumptionsregarding general market conditions, the availability of financingfor proposed transactions and programs on reasonable terms, and theability of outside service providers to deliver services in asatisfactory and timely manner. Forward-looking statements arebased on the beliefs, estimates and opinions of the Company'smanagement on the date the statements are made. Except as expresslyrequired by applicable securities laws, the Corporation undertakesno obligation to update these forward-looking statements in theevent that management's beliefs, estimates or opinions, or otherfactors, should change.
This news release uses the terms "Inferred Resource", "IndicatedResource" and "Mineral Resource". The Company advises readers thatalthough these terms are recognized and required by Canadiansecurities regulations (under National Instrument 43-101 "Standardsof Disclosure for Mineral Projects"), the US Securities andExchange Commission does not recognize these terms. Readers arecautioned not to assume that any part or all of the mineraldeposits in these categories will ever be converted into reserves.In addition, "Inferred Resources" have a great amount ofuncertainty as to their existence, and economic and legalfeasibility. It cannot be assumed that any part of an Indicated orInferred Mineral Resource will ever be upgraded to a highercategory. Under Canadian rules, estimates of Inferred MineralResources may not form the basis of feasibility or pre-feasibilitystudies, or economic studies except for a Preliminary Assessment asdefined under National Instrument 43-101. Readers are cautioned notto assume that part or all of an inferred resource exists, or iseconomically or legally mineable. The Mineral Resources stated inthis news release are not mineral reserves and, in the absence of acurrent feasibility study, do not demonstrate economic viability.The determination of mineral reserves can be affected by variousfactors including environmental, permitting, legal, title,taxation, socio-political, and marketing issues on the estimate.
For further information Terry Tucker, President and CEO, Vanessa Pickering, Manager,Investor Communications StrataGold Corporation, Tel: (604)696-6601, E-mail: info@stratagold.com , Website: www.stratagold.com