Strait Gold Corporation
TSX VENTURE : SRD

Strait Gold Corporation

July 07, 2010 12:28 ET

Strait Gold's Sampling Confirms Grade, Expands Target Area at Alicia

TORONTO, ONTARIO--(Marketwire - July 7, 2010) - Strait Gold Corporation (TSX VENTURE:SRD) is pleased to report the first results of an ongoing, systematic sampling program at its Alicia copper-gold project in southern Peru. The results confirm the tenor of mineralization in the skarn zones, with significant values for copper (up to 13.05% over 1.5 metres) gold (up to 1.8 grams per tonne over 1.5 metres) and silver (up to 94.6 g/t over 1.5 metres) over 1.26 km along the southern and eastern contact of the main porphyry intrusion. 

Rock samples were routinely collected from outcrop, approximately every 100 metres, on a systematic grid across the porphyry intrusive, the contact skarn mineralization and into the surrounding limestone. Highlights of the sampling program include: 5.09% copper, 0.58 g/t gold and 30.4 g/t silver over 2.5 metres in the Extension Zone; 13.05% copper, 1.8 g/t gold and 94.6 g/t silver over 1.5 metres in Zone 5 and 4.52% copper, 0.979 g/t gold and 42.4 g/t silver over 2.0 metres in skarn Zone 6.


Skarn Zone
Sample
Length (m)

Rock type

Cu (%)

Au (g/t)

Ag (g/t)
1 2.0 Garnet skarn 3.45 0.136 16.8
1 2.5 Garnet skarn 1.41 0.187 9.3
1 2.1 Brecciated endoskarn 1.35 0.127 5.9
1b 3.0 Brecciated garnet skarn 1.24 0.227 11.9
Extension 2.5 Garnet skarn 5.09 0.576 30.4
2 2.5 Garnet skarn 1.46 0.228 9.4
3 1.3 Garnet skarn 2.14 0.346 11.2
3 1.3 Garnet skarn 1.92 0.385 14.5
4 3.0 Magnetite skarn 1.47 0.500 9.0
4 3.0 Magnetite skarn 1.83 3.550 13.2
5 3.0 Garnet magnetite skarn 0.92 0.146 5.7
5 1.5 breccia 13.05 1.805 94.6
6 2.0 Garnet skarn 4.52 0.979 42.4
6 1.8 Garnet skarn 2.24 0.187 12.9
6 4.8 Garnet skarn 0.92 0.133 4.6
6 4.7 Garnet skarn 0.94 0.121 6.9
9 3.0 marble 0.63 0.055 4.3

Of particular interest are samples that show mineralization outside of the skarns in both the porphyry and the limestone it intrudes (To view the Copper and Gold in Rock Samples, please visit the following link: http://media3.marketwire.com/docs/CopperInRock_GoldInRockSamples.pdf). While the skarn zones that occur at the porphyry-limestone contact continue to show consistently good grades, mineralization outside the skarn zones indicates further potential.

"While our primary drill targets remain the skarn zones because of their exceptional grades, results from the sampling program continue to expand our overall target area considerably," said Strait Gold President Jim Borland.

Many of the samples outside of the skarn zones are located near Zone 4, including two samples located 230 metres northeast of Zone 4 that graded 2.65% copper, 0.179 g/t gold and 8.5 g/t silver over 2.0 metres and 2.17 % copper, 0.04 g/t gold and 4.3 g/t silver over 2.3 metres. These samples are from blocks of magnetite skarn hosted within the porphyry, suggesting that the porphyry entrained the skarn during its intrusion. This indicates potential for further skarn mineralization at depth.

Results of geophysical surveys to the east of Zone 4 to determine depth potential are pending. These results will be analyzed together with the results from the sampling and mapping program to select drill targets.

These results are part of a two-phase exploration program at Alicia. Phase 1 consists of community engagement, detailed surface mapping, and geophysical surveys in addition to the sampling. Phase 2 will consist of a drilling program designed 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, a Canadian mineral exploration company active solely in Peru, is 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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