StrataGold and Newmont Commence Drilling on Barama JV, Guyana
Vancouver, Canada, November 29 (ots/PRNewswire)
StrataGold
Corporation (SGV-TSX) is pleased to announce the commencement of a
2000 metre (m) diamond drilling (DD) program at Monosse, Guyana.
Monosse is subject to a joint venture agreement (the "Agreement" or
'Barama JV') (see press release dated October 3, 2005) with Newmont
Overseas Exploration Limited, a subsidiary of U.S.-based Newmont
Mining Corporation (NYSE & ASX: NEM; TSX: NMC), in respect to
StrataGold's Barama Reconnaissance Permit ("BRP") in Guyana (see
press release dated July 20, 2005).The Agreement provides for the exploration of properties within the BRP, which covers over 4,500 square kilometres (km) of favorable geology in NW Guyana, but excludes StrataGold's wholly owned Tassawini and Anaturi properties which are located within the BRP.
Monosse
Monosse is comprised of 34 contiguous medium scale permits, 1 Prospecting License (PL's) and 22 small-scale mining permits covering 172 square km's located within the BRP and approximately 45 km west of Tassawini. During the period from July to mid-November, StrataGold constructed a forty person camp and established a detailed grid over historical drill and trench sites in preparation for a combined 2,000 m diamond drilling program as well as a ground geophysics induced polarization (IP) survey.
Monosse is an advanced gold exploration project, with an estimated US $1.5 million dollars in historical exploration work completed during the period from 1994 to 1999. Regional airborne magnetometer and stream sediment geochemistry surveys were completed over the property by the BHP World Discovery Group. Detailed stream and soil geochemistry surveys, trenching and a 3,000 m DD program were completed by Toscana Resources Ltd. and Champion Resources Ltd. during the same period.
Monosse Historical Trenching Program
Trenching was widely distributed over an area of approximately 250 m by 800 m. The general trend of the gold mineralization strikes northwest while the dip is steep to subvertical towards the southwest. The mineralization identified in the trenches at Monosse are hosted in Birimian metasediments intercalated with mafic volcanics. The gold mineralization is structurally controlled by a major northwest trending deformation corridor which cross-cut and deformed a large, open, gently plunging east-northeast trending anticline.
Highlights of Historical Trenching Results
TRENCH Length (m) Gold (g/t)
TR-1 32.00 2.76
TR-2 9.00 1.21
TR-4 50.00 1.28
TR-9 30.00 4.89
TR-10 85.00 1.21
including 44.00 1.94
TR-11 96.00 1.02
including 10.00 4.27Monosse Historical DD Program
Toscana and Champion obtained significant gold results in 22 of 23 DD holes, with these holes widely spaced over an area of 200 m by 650 m. The true thickness of individual gold zones is unknown at this time. It was noted that there was a direct correlation between sulphide content and gold grade, with pyrite rich zones associated with quartz veinlets returning significant gold grades. The ground geophysics IP survey will include the entire historical area drilled by Toscana in order to identify large potential sulphide deposits. The initial 2006 2,000 m DD program will commence with a series of due diligence holes that will twin some of these historical holes, followed by a systematic drill program which will include testing potential new IP targets.
Highlights of Historical Diamond Drilling Results
Hole No. From (m) To (m) Interval (m) Gold (g/t)
97-1 26.70 40.15 13.45 2.00
including 32.15 39.15 7.00 3.38
and 59.15 70.15 11.00 1.81
97-2 30.15 42.15 12.00 1.45
and 85.15 92.15 7.00 3.77
97-6 14.60 32.00 17.40 3.11
including 22.60 30.00 7.40 4.30
97-7 32.50 35.50 3.00 1.26
and 40.50 44.50 4.00 1.74
and 60.50 79.50 19.00 2.78
97-8 4.22 17.22 13.00 1.05
and 59.60 73.60 14.00 2.13
97-10 54.00 78.00 24.00 1.42
including 54.00 62.00 8.00 2.12
97-15 1.20 16.20 15.00 1.10
97-17 60.00 74.00 14.00 3.43
including 70.00 74.00 4.00 9.49
and 137.00 150.00 13.00 1.24
97-18 0.90 18.90 18.00 1.13
and 36.00 49.00 12.10 1.28Quality Control and Assurance
Toscana and Champion's quality control and quality assurance program was provided by an independent consultant for the duration of the project, through the utilization of duplicates and control samples on gold samples, submitted to Loring Laboratories Guyana Ltd. Fire assays were conducted along with atomic absorption analysis. Samples returning greater than 1.0 g /t gold were subjected to a second fire assay with a gravimetric finish. Loring Lab also conducted numerous repeat check analyses. Additional duplicate, repeat and standard assays for conducted for accuracy and precision studies. Check assays were conducted by Chemex Laboratories Ltd. in North Vancouver. The 1997 drilling results at Monosse are considered to be of historical interest only to StrataGold. The technical information in this news release has been prepared in accordance with Canadian regulatory requirements set out in National Instrument 43-101. Mr. Yeomans is designated as the qualified person having reviewed this information.
About StrataGold
StrataGold is a well-funded gold development company focused on the systematic exploration of two advanced-stage gold projects. To obtain detailed property location, drill-hole and trenching maps for Monosee, 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, E-mail: info@stratagold.com, Website: www.stratagold.com