Whats your opinion on this junior with a very interesting land package
Strait Gold Corp.'s common shares and common share purchase warrants will be listed for trading on the TSX Venture Exchange effective at the open on Wednesday, Oct. 25, 2006. The common shares will trade under the symbol SRD and the common share purchase warrants will trade under the symbol SRD.WT.
The company closed its initial public offering of shares on Oct. 20, 2006, to raise gross proceeds of $1.6-million. Following the successful financing, a total of 15,084,883 common shares and four million common share purchase warrants will be listed.
Strait Gold is a Canadian mineral exploration company active in Peru. It holds an option to earn a 100-per-cent interest (subject to a 3-per-cent net smelter royalty, two-thirds of which it can buy back) in the 68-square-kilometre Culebrilla property located in Ancash Department, the same Peruvian jurisdiction that hosts the Pierina gold mine (Barrick Gold Corp.), the Antamina base metals mine (BHP Billiton, TeckCominco and Xstrata Minerals) and numerous other, smaller mining operations. Culebrilla lies between Pierina to the south and Lagunas Norte, another Barrick gold mine, to the north.
Surface rock sampling at Culebrilla, over an area measuring roughly 3.5 kilometres by 4.0 kilometres, has found widespread gold-silver mineralization, and locally high copper, with values up to 14.4 grams per tonne (g/t) gold, 1,365 g/t silver and 8.4 per cent copper. Based on these sampling results and previous artisinal mining on the property the company is preparing to conduct the first-ever diamond drilling at Culebrilla as early in 2007 as practisable.
With reference to National Instrument 43-101, Dr. Roger Moss, PhD, PGeo, is the qualified person for the purposes of this news release. Rock sample preparation was carried out at ALS Chemex facilities in Lima, Peru, following which, samples were air shipped to ALS Chemex, a Standards Council of Canada-accredited laboratory, in Vancouver, B.C., for analysis. Samples were analyzed for gold by fire assay followed by atomic absorption spectroscopic (AAS) finish and by gravimetric finish for overlimit (greater than 10 parts per million (ppm)) samples. Copper and silver, together with 32 other elements, were assayed by ICP-AES following aqua regia dissoloution. Overlimit copper (greater than 10,000 ppm) and silver (greater than 100 ppm) samples were reassayed by AAS. |
