April 18, 2022
Stratabound Minerals Corp. (TSXV:SB, Not Rated, Timothy Lee) announced that it has acquired, through option agreements, an additional 19 claims adjacent to its McIntyre Brook Au project in northern New Brunswick, covering an area of ~60sq. km (5,956 ha). The acquisitions have more than doubled its consolidated land position to 119.6 sq. km. The new claims also share a boundary with Puma Exploration Inc.’s (TSXV:PUMA, Not Rated) Williams Brook Au project (map) on the prolific “Triple Fault Gold Belt” that stretches 37km and hosts the high-grade O’Neil and Lynx Au zones, where Puma encountered grades of up to 5.50 g/t Au over 50.15m during its maiden drill program. Mineralization at the Triple Fault Gold Belt is orogenic hosted in quartz veins and breccia at contacts between harder rhyolite units and softer sediment-hosted units aligned along regional faults. Stratabound has the option to acquire up to 100% interest in these claims by fulfilling certain terms which include C$50,000 upfront cash payment in addition to issuing ~2.16M common shares followed by four payments of C$164,000, C$209,000, C$246,500, and C$285,000 in the subsequent years. Stratabound is also advancing its flagship 100%-owned Fremont Au project in central California which hosts ~1M oz of I&I resources grading 1.60 g/t. Further exploration work and baseline environmental studies are underway at the project (read more). Read more
