Strait Gold Corporation
TSX VENTURE : SRD

Strait Gold Corporation

November 14, 2011 08:00 ET

Strait Gold Defines Significant Porphyry Potential at Alicia

TORONTO, ONTARIO--(Marketwire - Nov. 14, 2011) - Strait Gold Corporation (TSX VENTURE:SRD) is pleased to announce that the latest results of soil sampling at its Alicia property in Peru have extended the previous copper-in-soil anomaly (announced in a news release dated 5 October, 2011) by 1,600 metres to the east of the known copper mineralized zone. The anomaly, defined by copper values greater than 1,000 parts per million, now extends for 3.4 kilometres in an east-west direction (see map).

The Company's soil sampling program was designed to identify areas of potential copper-gold mineralization under cover to the west, northwest, east and northeast of the main mineralized centre. The latest copper-in-soil values included 28 samples (45%) with more than 500 parts-per-million (ppm) copper including 20 samples (32%) containing more than 1,000 ppm copper with a high of 3,820 ppm. Identification of rock chips observed while collecting the soil samples indicated that 60% of the sample sites contained porphyry fragments.

The large copper-in-soil anomaly is broadly coincident with geophysical anomalies detected in recent airborne magnetic and radiometric surveys. In particular, the copper-in-soil anomaly is coincident with a high in the potassium-to-thorium ratio (which often indicates potassic alteration) and is partly coincident with a magnetic high. Both geophysical anomalies extend east-west through the porphyry intrusive centre and trend toward the north (see maps).

Recent geological mapping has identified four phases of porphyritic intrusion with associated alteration and mineralization over an outcrop area of 1400 metres by 900 metres within the larger geochemical and geophysical anomalies. A fifth intrusive type has been identified in float to the southwest of the area of outcrop. In addition, mineralized crackle type breccias have been identified near the margins of the porphyry intrusions.

The strongest copper mineralization, up to 0.82% Cu (see News Release dated August 18th, 2011), is associated with zones of highest density of quartz veins and stockwork within the intrusive centre. Potassic alteration occurs as secondary biotite and potassium feldspar, and is dominant in three of the five intrusive phases.

The presence of potassic alteration, quartz vein stockworks, breccias and multiple phases of intrusions are all typical features of porphyry copper deposits.

While the initial drill program completed in February, 2011 successfully targeted skarn mineralization along the northern contact of the intrusive centre with surrounding limestone, recent results indicate significant potential for a porphyry copper deposit at Alicia.

"We are very pleased with the results of our field work this year and the potential they indicate for the Alicia project," said President Jim Borland. "Using this data we can now confidently design a drill program to test the size potential of the porphyry system."

More detailed soil sampling is currently underway within the broad soil anomaly and further north to better define potential targets for the planned drill program. A permit to conduct 10,000 metres drilling is pending.

Quality Control and Quality Assurance

All sampling is supervised by Strait Gold personnel. Samples are securely stored in a locked room prior to transportation to Cusco by Strait Gold personnel. Samples are delivered to the ALS Chemex office in Cusco and forwarded by ALS Chemex to Arequipa for sample preparation. The resulting pulps are sent to its laboratory in Lima, for analysis. ALS Chemex is an ISO 9001:2000 registered laboratory. Samples are analyzed for gold by fire assay followed by atomic absorption spectroscopic (AAS) finish and by gravimetric finish for samples exceeding the upper limit of analysis (over limit). Silver, copper, molybdenum, lead and zinc, together with 30 other elements, were assayed by inductively coupled plasma-atomic emission spectrometry (ICP-AES) following aqua regia dissolution. Strait Gold routinely carries out a program of quality assurance/quality control (QA/QC) that includes insertion of blanks, standards and duplicates into the sample stream to verify results.

All of the Company's exploration programs are prepared by, or prepared under the supervision of, Dr. Roger Moss, P.Geo., who serves as the Qualified Person as defined by NI 43-101 and is a director of the Company. Dr. Moss has reviewed the technical content of this news release.

About Strait Gold Corporation:

Strait Gold Corporation is a Canadian mineral exploration company active solely in Peru and listed on the TSX Venture Exchange. To learn more about Strait Gold, please visit our website at straitgold.com.

To view the maps associated with this press release, please visit the following link: http://media3.marketwire.com/docs/srdn14.pdf

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information