October 9, 2008 - Vancouver, BC - StrataGold Corporation (SGV-TSX) ("StrataGold" or the "Company") is pleased to announce that the C$5 million 2008 diamond drill (DD) program at Dublin Gulch, Yukon has been completed. StrataGold drilled a total of 8306.33 metres (m) with the focus of adding additional resources to the Eagle Zone Deposit and Mar-Tungsten Deposit.
StrataGold completed a total of 15 DD holes on the Eagle Zone Deposit totaling 4248.65 m.* Wardrop Engineering has been engaged to update the Mineral Resource incorporating drilling from 2006-2008. At this time, the Eagle Zone Deposit remains open to the east, west, south and at depth.
A total of 34 DD holes were completed on the Mar-Tungsten Deposit totaling 4057.68 m. 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 (see news release dated August 28, 2008). The Mar-Tungsten Deposit remains open down-dip and to the north and south. SRK Consulting has been engaged to supervise metallurgical test work ongoing at SGS laboratories, update the Mineral Resource and complete a Preliminary Economic Assessment scheduled for completion in December 2008.
*Eagle Zone Resource Statement
Resource Category |
Total Tonnes |
Gold Grade (g/t) |
Gold Cut-off Grade (g/t) |
Contained gold (troy ounces) |
Indicated |
66,540,000 |
0.916 |
0.50 |
1,960,000 |
Inferred |
14,390,000 |
0.803 |
0.50 |
371,000 |
**Mar-Tungsten Resource Statement
Resource Category |
Total Tonnes |
% WO3 Grade |
% WO3
Cut-off Grade |
Contained WO3 (pounds) |
MTU (metric tonne units) |
Indicated |
5,310,000 |
0.39 |
0.10 |
45,590,000 |
2,070,900 |
Inferred |
2,170,000 |
0.36 |
0.10 |
17,220,000 |
781,200 |
*Greg Mosher, P.Geo. of Wardrop Engineering Incorporated, Canada, was the independent Qualified Person under NI 43-101 responsible for the Eagle Zone gold resource estimate. The technical report for the gold resources at the Dublin Gulch property was filed on March 13, 2006 and can be found on www.sedar.com.
** Dr. Bart Stryhas, PhD, a Principal Resource Geologist at SRK Consulting (US) Inc. is the Qualified Persons under NI 43-101 responsible for the Mar-Tungsten resource estimate. The technical report for the tungsten resources at the Dublin Gulch property was filed on February 26, 2008 and can be found on www.sedar.com.
Terry Tucker, P.Geo., President and CEO of StrataGold Corporation, is the Qualified Person under NI 43-101 responsible for the technical information in t his press release. 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 Corporation
StrataGold is a gold development company focused on the systematic exploration and development of two advanced-stage gold projects, Dublin Gulch, Yukon (including the Eagle Zone gold and Mar-Tungsten Deposits), Tassawini, Guyana 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.
For further information, please contact:
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
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 inf erred 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 Co mpany'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 wor k 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 obligati on 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 studi es 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.