David you are like me. You deal in facts on paper not email and phone calls. here is a release from another company I own stock in. I am not hyping the company just using it as a comparison.
On January 10, 1999, Stratabound Minerals Corp. began exploration of the2,947 hectare Don Indio property, which covers 19 kilometres of prospective stratigraphy containing a number of historic high grade copper/silver andzinc/lead/silver mines.
Targets include both stratiform sandstone-hosted(redbed copper) copper/silver deposits, and large shear-hostedzinc/lead/copper/silver deposits in overlying carbonate rocks.
The initial program comprises extensive channel and panel sampling anddetailed geological mapping of the Pilar Grande, San Marcos and Encalmada mine workings by an eight man crew. To date 275 samples have been collected and mapping has been completed at Pilar Grande. Program results will be released as they are received and evaluated.
In a news release dated September 16, 1998 the company announced the signing of a letter of intent governing the acquisition of the Don Indio concession, and stated that negotiations were continuing to acquire an additional property of exceptional merit. This property, known as La Monarca,is situated between Stratabound's Sierra Azul and Don Indio projects. A letter of intent was signed on January 21, 1999, outlining terms whereby Stratabound can acquire La Monarca. Details concerning the new property and terms of the agreement will be provided shortly. All three properties are located in the Monclova-Cuatrocienegas region in the state of Coahuila.
this stock only has 7 million sahres out not 100 million
the next release gave data on the ore samples.
the new property has 63 old mines not 1
they have taken 275 drill samples, not just widened the road to get the drill in.
this is the second release
Symbol: SB, Alberta Stock Exchange
SBMCF, OTC Bulletin Board Shares issued: 7,831,013
SEC 12(g)3 Exemption No. 82-3284
CALGARY, Feb. 9 /CNW/ - Stratabound Minerals Corp. is pleased to announce the signing of a letter agreement granting the company the right to acquire a 35,000 hectare (135 square mile) concession containing 85 old zinc-lead-silver mines and showings. The 70 kilometre (43 mile) long property, La Monarca, is situated between the company's Sierra Azul and Don Indio claim blocks in Coahuila, a state in northeast Mexico immediately north of the state of Zacatecas. La Monarca is easily accessible via Highway 57 from the industrial city of Monclova, and is traversed throughout its length by a two-wheel drive gravel road joining Highways 57 and 30.
Structure and stratigraphy are similar on all three of Stratabound's Mexican properties. Large-scale anticlinal folds form mountain ranges
(sierras), with erosional breaches exposing mineralized ''windows'' of
Cretaceous carbonates and underlying Jurassic redbeds.
Breaches in the Monarca anticline expose two major windows, the Muralla and Reforma, with over a dozen smaller windows between these.
The Muralla window is 25 kilometres long, and covers 80 pre-1950
zinc-lead-silver mines and workings shown on government geology maps. An initial inspection by the undersigned indicates that some of these were relatively large. Published information is virtually non-existent. The Consejo de Recursos Minerales (the Mexican government geological division) monograph on the state of Coahuila reports that ''in the Muralla area grades are in the order of 100 g/t (2.9 oz/ton) silver, 2.5% lead and 17% zinc.''
Verbal accounts suggest that only high grade oxide ore was exploited in the Muralla window, and was shipped directly to smelter, with no attempt to develop the sulphide material below the oxide zone.
Several factors indicate excellent economic potential for the
mineralization: it has great lateral extent; occurs at the same stratigraphic level as most of the large carbonate-hosted deposits in the region; is unexplored since the 1940s; has never been explored with modern geophysical and geochemical methods; and has never been drilled. As the favourable horizon is present on both limbs of the anticline, 50 kilometres of highly prospective
stratigraphy are present within the 25 kilometre-long Muralla window.
In the Reforma area, workings along five kilometres of strike include La Reforma, La Fortuna, Ocampo and two other unnamed mines that extracted lead-zinc-silver oxides and sulphides. Information from the Consejo indicates that La Reforma Mine, which was one of the larger base metal operations in northeast Mexico, produced from 1896 to 1958, feeding 2,000,000 tonnes of ore to an on-site mill at 1958 grades of 7% lead, 2.8% zinc and 150 g/t (4.4 oz/ton) silver. The scale of the workings, mill foundation and tailings dump
suggests the tonnage estimate is low, including only registered data. The mine shut down in 1958 during a major strike and never re-opened. It is likelythat additional ore is present at Reforma.
The Monarca property has exceptional merit, and this opportunity is considered to be of major significance. The area of prospective
mineralization is huge, and a geological mapping and sampling program would be expected to yield rapid results that could lead to a major drill program.
Stratabound has the right to buy a 100% interest in the entire property, subject to a 2.5% net profits royalty, for payments of US$155,000 over a 24 month period beginning 12 months from signing of the final agreement currently
in preparation, plus a US$500,000 payment 48 months from signing. Paymentsare subject to 15% Value Added Tax.
Property maps are available from the company on request.
The Alberta Stock Exchange has neither approved nor disapproved the
information contained herein.
now that is the kind of new release I want to see mdin\npec come out with |
