February 24, 2022
Stratabound Minerals Corp. (TSXV:SB, Not Rated, Timothy Lee) announced that it had identified a 4km by 285m soil anomaly stretching across its flagship 100%-owned Fremont Au project in California. The 1.14km2 anomaly defined gold-in-soil mineralization ranging from 30 ppb to 5,210 ppb with an average of 412 ppb, which is 61.5 times higher than the values found outside the anomalous regions. Notably, the anomaly covers each of the four known Au zones on the project, including the resource in the Pine Tree-Josephine area (0.526 Moz Indicated, 0.452 Moz Inferred). We note that the resource covers only 1km of the 4km-long anomaly, which provides a “blue-sky” upside potential for resource expansion. Stratabound plans to complete trenching along the anomaly in the near term, followed by drilling of select targets. Stratabound acquired California Gold Mining Inc., owner of Fremont, in August 2021 following which it released an updated mineral resource on the project in October. The soil samples were collected in 2016-2017, but the data was not previously compiled and reported. We recently conducted a webinar with Stratabound (watch the replay) discussing the company’s plan to advance the project. Read more
