VANCOUVER, Aug. 28 /CNW/ - StrataGold Corporation (SGV-TSX) ("StrataGold"
or the "Company") is pleased to announce initial results from the C$5 million
2008 diamond drill (DD) program on the Dublin Gulch property. This year,
StrataGold aims to increase the resource of both the Eagle Zone and
Mar-Tungsten Deposits. A total of 34 DD holes were completed on the
Mar-Tungsten Deposit in 2008 totaling 4057.68 metres (m). Drilling on the
Eagle Zone Deposit is ongoing with results pending.
In January 2008, SRK Consulting (US) Inc. (SRK) provided StrataGold with
a National Instrument (NI) 43-101 Mineral Resource for the Mar-Tungsten
Deposit based on 86 DD holes completed in 1979 and 1980 and prior to
StrataGold's acquisition of Dublin Gulch.
<<
Mar-Tungsten Mineral Resource(*)
-------------------------------------------------------------------------
Category of Contained WO(3) MTU
Mineral Resource Tonnes % WO(3) (pounds) (metric tonne units)
-------------------------------------------------------------------------
Indicated 5,310,000 0.39 45,590,000 2,070,900
-------------------------------------------------------------------------
Inferred 2,170,000 0.36 17,220,000 781,200
-------------------------------------------------------------------------
(*) Using cut-off of 0.10% WO(3) - see news release dated January 15,
2008.
>>
The 2008 DD program on the Mar-Tungsten Deposit has successfully extended
the scheelite skarn zones of the Mineral Resource up dip toward the surface
and along strike. The Mar-Tungsten Deposit remains open down dip and along
strike in both directions. All DD results have been received and are presented
in the table below. Interval widths are approximately true width. Trench
results are pending.
StrataGold is evaluating opportunities to realize value for the
Mar-Tungsten Deposit for its shareholders. SRK has been engaged to supervise
metallurgical test work ongoing at SGS Laboratories, update the
Mineral Resource and complete a Preliminary Economic Assessment that is
scheduled for completion in December 2008.
<<
Diamond Drill Results
-------------------------------------------------------------------------
Hole From (m) To (m) Interval Width (m) WO(3) Grade (%)
-------------------------------------------------------------------------
MT08-003C 14.18 18.18 4.00 0.17
-------------------------------------------------------------------------
MT08-004C 72.80 77.80 5.00 0.32
-------------------------------------------------------------------------
MT08-006C 32.50 34.50 2.00 0.68
-------------------------------------------------------------------------
MT08-008C 40.18 45.18 5.00 0.41
-------------------------------------------------------------------------
MT08-009C 2.13 7.13 5.00 0.24
-------------------------------------------------------------------------
MT08-010C 51.71 63.60 11.89 0.42
-------------------------------------------------------------------------
MT08-011C 13.20 16.20 3.00 0.55
-------------------------------------------------------------------------
and 98.44 110.50 12.06 0.59
-------------------------------------------------------------------------
and 131.10 147.62 16.52 0.50
-------------------------------------------------------------------------
MT08-012C 63.78 71.36 7.58 1.65
-------------------------------------------------------------------------
MT08-013C 27.13 47.14 20.01 0.35
-------------------------------------------------------------------------
MT08-014C 127.95 137.45 9.5 0.43
-------------------------------------------------------------------------
and 182.67 188.1 5.43 0.24
-------------------------------------------------------------------------
MT08-016C 22.20 33.80 11.6 0.65
-------------------------------------------------------------------------
MT08-017C 30.22 33.61 3.39 0.66
-------------------------------------------------------------------------
MT08-018C 48.74 50.74 2.00 0.40
-------------------------------------------------------------------------
MT08-019C 191.33 197.33 6.00 0.46
-------------------------------------------------------------------------
MT08-021C 70.64 74.64 4.00 0.41
-------------------------------------------------------------------------
MT08-022C 20.76 26.76 6.00 0.59
-------------------------------------------------------------------------
and 63.76 68.76 5.00 0.27
-------------------------------------------------------------------------
MT08-023C 23.52 33.52 10.00 0.23
-------------------------------------------------------------------------
MT08-024C 62.62 65.62 3.00 0.56
-------------------------------------------------------------------------
and 85.62 89.62 4.00 0.49
-------------------------------------------------------------------------
and 116.62 122.62 6.00 0.22
-------------------------------------------------------------------------
MT08-026C 84.04 87.04 3.00 0.44
-------------------------------------------------------------------------
MT08-027C 114.72 120.55 5.83 0.35
-------------------------------------------------------------------------
MT08-028C 87.00 92.80 5.80 0.56
-------------------------------------------------------------------------
MT08-030C 43.70 51.70 8.00 0.23
-------------------------------------------------------------------------
MT08-031C 135.25 153.50 18.25 0.23
-------------------------------------------------------------------------
MT08-032C 12.60 17.90 5.30 0.11
-------------------------------------------------------------------------
MT08-033C 106.30 115.20 8.90 0.13
-------------------------------------------------------------------------
MT08-034C 1.52 6.60 5.08 0.37
-------------------------------------------------------------------------
MT08-005C, 007C, 015C, 025C and 029C had no significant intersections
MT08-001C, 002C and 020C were abandoned
>>
Tungsten
Tungsten is a strategic metal and emerging economies such as India and
China are consuming increasing amounts of tungsten. Tungsten prices are quoted
per metric tonne unit (MTU) of contained tungsten trioxide (WO(3)). One MTU
contains 10 kilograms of WO(3) and is the standard weight measure of the
tungsten trade. Ammonium Paratungstate ("APT") is an intermediate product in
the production of tungsten metal for which prices are available. The most
recently quoted price on August 8, 2008 was US$254 per MTU (10 kilograms or
22.04 pounds WO(3) per MTU) which equates to US $25.40 per Kilogram or
US $11.55 per pound.
Quality Control and Assurance
A rigorous Quality Control and Assurance program (QC/QA) is in place,
using control samples and duplicates, as well as Chain of Custody (COC)
protocols. Tamperproof sample bags and sample tags were utilized for all of
the drill samples. All Mar-Tungsten drill samples were prepared and analyzed
by ALS Laboratory Group located in British Columbia, Canada. ALS is an
ISO 9001:2000 registered and accredited to ISO 17025:2005 by the
Standards Council of Canada (SCC) for specific analytical procedures. The
control samples and duplicate assay results received for the drilling program
demonstrate to StrataGold that the results are considered reliable. The
technical information in this news release has been prepared in accordance
with Canadian regulatory requirements set out in National Instrument 43-101.
<<
(*) The qualified person (as described under NI 43-101) responsible for
the resource estimate is Dr. Bart Stryhas, PhD, a Principal Resource
Geologist at SRK.
>>
The exploration program was conducted under the supervision of qualified
person Terry Tucker, P.Geo., StrataGold's President and CEO. Terry Tucker has
reviewed the technical content of this press release.
About StrataGold
StrataGold is a gold development company focused on the systematic
exploration and development of two advanced-stage gold projects and the
BRL Venture with Newmont in Guyana. To obtain additional information, photos,
project updates and maps pertaining to this news 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, to differ materially from the anticipated
results, performance or achievements expressed or implied by such
forward-looking statements. Forward looking statements are statements that are
not historical facts and are generally, but not always, identified by the
words "expects," "aims," "plans," "anticipates," "believes," "intends,"
"estimates," "projects," "potential" and similar expressions, or that events
or conditions "will," "would," "may," "could" or "should" occur. Information
inferred from the interpretation of drilling results and information
concerning mineral resource estimates may also be deemed to be forward looking
statements, as such information constitutes a prediction of what might be
found to be present when and if a project is actually developed.
Forward-looking statements in this document include statements regarding: the
Company's expectations regarding drilling and exploration activities on
properties in which the Company has an interest; and the Company's statements
regarding estimates of resources on properties in which the Company has an
interest. There can be no assurance that such statements will prove to be
accurate. Actual results and future events could differ materially from those
anticipated in such statements, and readers are cautioned not to place undue
reliance on these forward-looking statements that speak only as of their
respective dates. Important factors that could cause actual results to differ
materially from the Company's expectations include among others, risks related
to fluctuations in mineral prices; uncertainties related to raising sufficient
financing to fund planned work in a timely manner and on acceptable terms;
changes in planned work resulting from weather, logistical, technical or other
factors; the possibility that results of work will not fulfill expectations
and realize the perceived potential of the Company's properties; uncertainties
involved in the estimation of resources; the possibility that required permits
may not be obtained on a timely manner or at all; the possibility that capital
and operating costs may be higher than currently estimated and may preclude
commercial development or render operations uneconomic; the possibility that
the estimated recovery rates may not be achieved; risk of accidents, equipment
breakdowns and labour disputes or other unanticipated difficulties or
interruptions; the possibility of cost overruns or unanticipated expenses in
the work program; the risk of environmental contamination or damage resulting
from the Company's operations; risks associated with title to mineral
properties; and other risks and uncertainties discussed under the heading
"Risk Factors" in Section 5 of the Company's Annual Information Form filed on
SEDAR and elsewhere in the Company's documents filed from time to time with
the Toronto Stock Exchange and Canadian securities regulators. These
statements are based on a number of assumptions, including assumptions
regarding general market conditions, the availability of financing for
proposed transactions and programs on reasonable terms, and the ability of
outside service providers to deliver services in a satisfactory and timely
manner. Forward-looking statements are based on the beliefs, estimates and
opinions of the Company's management on the date the statements are made.
Except as expressly required by applicable securities laws, the Corporation
undertakes no obligation to update these forward-looking statements in the
event that management's beliefs, estimates or opinions, or other factors,
should change.
This news release uses the terms "Inferred Resource",
"Indicated Resource" and "Mineral Resource". The Company advises readers that
although these terms are recognized 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
recognize these terms. Readers 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 any part of an Indicated or 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 National Instrument 43-101. Readers are cautioned not to assume that
part or all of an inferred resource exists, or is economically or legally
mineable. 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, title,
taxation, socio-political, and marketing issues on the estimate.