News out NI-43-101....
posted on
Feb 05, 2009 09:43AM
Dublin Gulch, Yukon; Tassawini & BRL Venture, Guyana.
STRATAGOLD CORPORATION |
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Attention Business Editors:
VANCOUVER, Feb. 5 /CNW/ - StrataGold Corporation (SGV-TSX) ("StrataGold" or the "Company") is pleased to announce the Company has filed the technical report for the National Instrument (NI) 43-101 Mineral Resource estimate for the Eagle Zone Deposit, Dublin Gulch, Yukon Territory, Canada (see news release dated January 14, 2009). The technical report was prepared by Wardrop Engineering Inc. and is available on SEDAR at www.sedar.com. Wardrop Recommendations StrataGold should undertake a NI 43-101 Pre-Feasibility Study and in addition complete the following studies: << - Drilling to determine the extension of mineralization at depth and along strike. - Bulk density sampling so that detailed specific gravity data can be incorporated into the resource block model for resource estimation. - Metallurgical sampling and testing to create a recovery model. - Completion of a full environmental base line study and assessment. >> StrataGold continues to explore strategic alternatives and will continue to seek options that are in the best interest of our shareholders and in particular the advancement of the Dublin Gulch property which includes the Mar-Tungsten Deposit. << Eagle Zone Deposit Resource Statement ------------------------------------------------------------------------- Gold Grade Contained Gold Gold Cut-off Grade Resource Category Tonnes (g/t) (troy ounces) (g/t) ------------------------------------------------------------------------- Indicated 98,584,000 0.849 2,690,400 0.50 ------------------------------------------------------------------------- Inferred 2,023,000 0.671 43,630 0.50 ------------------------------------------------------------------------- >> Mineral resources were classified according to the CIM Definition Standards for Mineral Resources and Mineral Reserves (December 2005) by Bob Jankovic, P.Geo., an independent Qualified Person as defined by NI 43-101. 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 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. 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 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 work programs; 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 Company 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 and permitted 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.
For further information: Terry Tucker, President and CEO, Vanessa Pickering, Manager, Investor Communications, StrataGold Corporation, Tel: (604) 696-6601, E-mail: [email protected], Website: www.stratagold.com