Strait Gold Corporation
TSX VENTURE : SRD

Strait Gold Corporation

October 05, 2011 11:01 ET

Strait Gold Identifies Large Copper-In-Soil Anomaly Immediately West of Porphyry at Alicia Project

TORONTO, ONTARIO--(Marketwire - Oct. 5, 2011) - Strait Gold Corporation (TSX VENTURE:SRD) is pleased to announce that results of soil sampling have identified a new copper-in-soil anomaly over an area of 1,400 metres north-south and up to 640 metres east-west to the west and north of the known copper mineralized zone at its Alicia property in Peru previously reported in a news release dated August 18, 2011.

More detailed soil sampling will be undertaken within this anomaly and further north to better define potential targets for a planned drill program. A permit to conduct 10,000 metres drilling is pending.

"Our initial drill results in outcropping skarns demonstrate a robust mineralizing system at Alicia," said Strait Gold President Jim Borland. "The extent of the anomalous zone as outlined in soil sampling is also very encouraging for the porphyry potential of the property."

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. Copper-in-soil values included 42 samples (56%) with more than 500 parts-per-million (ppm) copper including 29 samples (39%) containing more than 1,000 ppm copper with a high of 8,010 ppm.

Results from sampling in the west and northwest indicate a broad copper anomaly (defined by values greater than 500 ppm) extending west and north from the western edge of the mineralized zone.

The 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 through the porphyry intrusive and trend toward the north.

Soil samples taken to the east and northeast of the porphyry intrusive have been submitted for analysis and results are pending.

The airborne radiometric, magnetic and ZTEM surveys recently completed over the entire 26-sq.-km property also showed several magnetic anomalies to the northwest, west and southwest of the main area of interest that remain unexplained. Interpretation of the results of the airborne surveys continues and ground followup of anomalies will be carried out once the interpretation is complete.

An initial reconnaissance drill program completed in February, 2011, and previously announced in news releases dated November 15th, 2010, intersected skarn mineralization in eight holes over 600 metres along the northern contact of the porphyry intrusive with surrounding limestone. In particular, Hole ALC10-05 intersected 33.0 metres (21.2 metres trues width) grading 1.27% copper, 0.13 g/t gold and 7.5 g/t silver. This hole ended in mineralization with the bottom 5.1-metre intercept (3.3 metres true width) grading 2.17% copper, 0.21 g/t gold and 11.5 g/t silver.

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 prior to dissemination.

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.

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