Strait Gold Corporation
TSX VENTURE : SRD

Strait Gold Corporation

September 22, 2010 09:48 ET

Strait Gold Samples 9.27% Copper, 0.83g/t Gold Over 4.0 Metres at Alicia Project

TORONTO, ONTARIO--(Marketwire - Sept. 22, 2010) - Strait Gold Corporation (TSX VENTURE:SRD) is pleased to report the latest results from a surface sampling program at its Alicia copper-gold project in southern Peru. Highlights include:

  • 9.27% copper, 0.83g/t gold and 69.2g/t silver over 4.0 metres in Zone 8;
  • 7.67% copper, 0.36g/t gold and 78.9g/t silver over 3.0 metres to the north of Zone 9; and
  • 2.10% copper, 0.28g/t gold and 15.1 g/t silver over 4.0 metres in Zone 7.

Five samples from a skarn zone approximately 170 metres west of Zone 8 also returned high-grade copper (1.58-4.43%) with one sample assaying 4.43% copper, 0.31g/t gold and 16.3 g/t silver over 2.5 metres.

To view the maps of sample results, please visit the following links:

http://media3.marketwire.com/docs/srd10922.pdf

http://media3.marketwire.com/docs/srd20922.pdf

Sampling consisted mainly of chip channel samples taken over skarn zones at the northern and western contacts of the porphyry intrusion with the surrounding limestone. A total of 54 samples were received from the assay laboratory in this batch of results. Of 33 results reported here, 28 returned greater than 1.0% copper. Skarn mineralization occurring at the north contact of the intrusion is intermittent over approximately 760 metres, including zones 7 and 8.

As noted in a news release dated September 10, 2010, initial analysis of an induced polarization (IP) survey indicates a strong chargeability anomaly in this area. The results of the geophysical surveys (chargeability, resistivity and ground magnetics) are being interpreted in conjunction with information from the detailed sampling and mapping program to finalize drill targets.

Highlights of latest assay results

Sample ID Zone ID Length Sample Type Rock Type Cu (%) Au (g/t) Ag (g/t)
E990353 7 5.0 Channel endoskarn 0.66 0.006 0.3
E990356 7 3.0 Panel endoskarn 0.73 0.129 2.8
E990368 7 4.0 Channel gt skarn 1.34 0.217 7.5
E990369 7 4.0 Channel gt skarn 2.10 0.276 15.1
E990370 NW 7 2.0 Channel gt-px skarn 0.92 0.121 7.6
E990371 8 2.0 Channel gt-px skarn 7.01 0.847 43.7
E990372 8 2.0 Channel gt skarn 7.85 0.598 45.0
E990373 8 3.5 Channel gt skarn 3.30 0.302 21.4
E990374 8 3.5 Channel gt skarn 2.76 0.269 12.6
E990376 8 4.0 Channel gt skarn 4.30 0.377 24.0
E990377 8 4.0 Channel gt skarn 4.69 0.323 31.0
E990378 8 3.0 Channel gt-px skarn 1.76 0.140 14.5
E990379 8 4.0 Channel gt skarn 2.29 0.232 12.8
E990380 8 4.0 Channel gt skarn 9.27 0.828 69.2
E990381 8 4.5 Channel gt skarn 5.83 0.259 43.6
E990383 NW 8 2.0 Channel gt-px skarn 3.61 0.347 25.1
E990384 NW 8 2.0 Channel gt-px skarn 0.69 0.078 5.3
E990387 8 1.0 Channel endoskarn 0.94 0.174 4.8
E990388 8 3.0 Channel gt skarn 6.74 0.537 27.7
E990389 8 4.0 Channel gt skarn 6.09 0.393 28.6
E990390 8 3.0 Channel gt skarn 2.25 0.114 9.5
E990391 8 4.5 Channel gt skarn 4.50 0.474 26.7
E990392 8 2.5 Channel gt-px skarn 3.32 0.354 21.6
E990393 W 8 2.5 Channel gt-px skarn 3.14 0.144 15.4
E990394 W 8 5.0 Channel gt-px skarn 1.58 0.096 7.0
E990396 W 8 2.5 Channel gt-px skarn 4.43 0.308 16.3
E990397 W 8 3.5 Channel gt-px skarn 1.93 0.150 7.7
E990398 W 8 3.5 Channel gt-px skarn 3.67 0.327 15.1
E990399 N 9 1.5 Channel gt skarn 3.97 0.109 14.6
E990400 N 9 1.4 Channel gt skarn 1.40 0.081 5.1
E990401 N 9 2.4 Channel gt skarn 3.05 0.512 18.1
E990402 N 9 3.5 Channel gt skarn 4.85 0.674 24.4
E990403 N 9 3.0 Channel skarn 7.67 0.362 78.9

"These sample results confirm the potential for an oxide zone at or near surface," said Strait Gold President Jim Borland. "The strong IP anomaly below Zones 7 and 8 may indicate a transition to a sulphide zone, something we will test with core drilling."

Phase 1 of the Alicia exploration program included systematic surface mapping and sampling that confirmed significant values for copper, gold and silver (see news releases dated March 23 and July 7, 2010) as well as geophysical surveys. Phase 2 will consist of drilling 1,000-1,200 metres to test for copper-gold mineralization at depth along the porphyry-limestone contact. 

The Alicia Project is located within the prolific Andahuaylas-Yauri Belt, which stretches across much of southern Peru. This highly prospective belt hosts numerous porphyry and skarn deposits, including Xstrata's Las Bambas deposit with indicated and inferred resources of 1.1 billion tonnes grading 0.77% copper, plus associated molybdenum and gold. Strait Gold can earn a 100% interest in the Alicia property under a three-year option agreement, subject to a 2% NSR royalty.

Quality Control and Quality Assurance

Samples consist of rock chips collected from outcrop either in a channel typically two to three metres in length or in a panel covering four to six square metres. Samples were transported to ALS Chemex preparation facilities in Arequipa by Strait Gold personnel. Following sample preparation, samples were couriered to ALS Chemex facilities in Lima, Peru, for analysis. ALS Chemex is an ISO 9001:2000 registered laboratory. Samples were 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, lead and zinc, together with 30 other elements, were assayed by inductively coupled plasma-atomic emission spectrometry (ICP-AES) following aqua regia dissolution. Over-limit silver (>100 ppm), and copper (>10,000 ppm) samples were re-assayed by AAS. 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. It has an option to earn a 100% interest in the Alicia copper-gold property in Cusco Department approximately 500 km southeast of Lima, the capital of Peru, and holds a 100% interest in both the Letra Rumi South copper-silver property and the Culebrilla gold-silver property, both in Ancash Department approximately 250 km north of Lima. To learn more about Strait Gold, please visit our website at www.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.

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