StrataGold proves up Dublin Gulch deposit in Yukon

Vancouver — An independent review has confirmed the gold resource in the Eagle zone on StrataGold‘s (SGV-V) Dublin Gulch property in the Yukon.

The resource holds 55.2 million tonnes grading 0.934 gram gold, or 1.658 million oz., in the indicated category and 17.3 million tonnes grading 0.734 gram gold, or 412,000 oz. gold in the inferred category. Both categories are based on a cutoff grade of 0.5 gram gold.

The estimate, by Snowdon, is compliant with National Instrument 43-101 and based on a review of a calculation done in 1997.

The Eagle zone will be drilled further to test for gold mineralization at depth and along strike. Snowden also recommends infill drilling to raise the inferred resource to indicated status.

The Dublin Gulch property is in the Yukon’s Mayo district, where StrataGold holds a total of 740 sq. km.

In October, StrataGold struck a deal to acquire Sterlite Gold‘s (SGT-T) interest in the Dublin Gulch and Clear Creek gold projects in return for buying all the shares of Sterlite’s subsidiary, New Millennium Mining, for US$6 million in cash and 5 million StrataGold shares.

Newmont Mining (NEM-N) arranged a $3.2-million private placement to fund part of the purchase.

Dublin Gulch and Clear Creek are adjacent to StrataGold’s Lynx Creek and Aurex properties.

Gold at Lynx Creek exists in a quartz-sulphide vein system hosted in granodiorite, which has returned up to 3.4 metres grading 7.3 grams gold. At the Aurex property, exploration has uncovered a skarn occurrence with impressive gold values.