VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 29, 2012) - Stratton Resources Inc. (TSX VENTURE:SI) ("Stratton" or the "Company") is pleased to provide an exploration update on summer field programs conducted at its MAC, Lunar and Natlan projects, located in British Columbia, Canada.
The MAC Project is an advanced-stage molybdenum-copper project with newly recognized nickel-iron-chromium potential (see news release dated October 5, 2012) located approximately 80 kilometres northwest of the town of Fort St. James, in Central British Columbia. During the summer months, 733 soil samples were completed at 25 metre spacing on 200 metre spaced lines targeting the southern intrusion and the Peak Zone that lie immediately south of the Camp Zone deposit. Sample results ranged from background to 432 ppm molybdenum ("Mo") and 1350 ppm copper ("Cu"). Anomalous molybdenum and copper samples in conjunction with geophysics have identified a 600 metre by 200 metre Peak Zone target. Eight diamond drill holes totaling approximately 2,500 metres have been proposed for early summer testing of this target area.
The Lunar Project is an early-stage copper-gold exploration project located 95 kilometres northwest of the Kemess mine and 50 kilometres southeast of the Kutco development project, in Northern British Columbia. Reconnaissance geological mapping, prospecting and sampling were completed by crews in July. A total of 66 silt samples were collected, the results of which have been used to identify an anomalous copper and gold area in the southeast corner of claim block. An additional 3,497 hectares have subsequently been staked, adjoining and expanding the Lunar claim block in the trend direction to the southeast. A total of 67 rock grab samples were also taken. Sample results ranged from trace amounts of copper and gold to 10.6 % Cu and 5.37 g/t gold ("Au").
Significant results include:
Based on the success of fieldwork completed to date, airborne geophysical surveying followed by additional geological and geochemical programs are planned for Lunar in 2013.
The Natlan Project is an early-stage copper-gold exploration project located 65 kilometres north of Smithers, in Central British Columbia. The Natlan claim covers a high-level porphyry system of significant scale measuring 1,800 metres by 500 metres and remains open in all directions. Soil and rock sampling by Teck Resources Limited in 1997 and Paget Resources in 2008 yielded evidence of potential porphyry deposit scale gold, silver ("Ag"), copper, lead ("Pb"), zinc ("Zn") and molybdenum mineralization.
A gossanous area, outlined in yellow in the map below, covers a strike length of approximately 2.5 kilometres. This season, a total of 14 rock grab and chip samples were taken from the gossan area and results range from background to 3.16 g/t Au, 210 g/t Ag, 8060 ppm Cu, 3320 ppm Zn, and 2690 ppm Pb.
Significant results include:
Additionally, a total of 89 soil and humus samples were taken across the gossan and across an area west of the gossan. C-Horizon soils averaged 500 ppm Cu over 950 metres in the gossanous area while 2,000 metres to the west, humus samples identified anomalous Au values up to 397 ppb over an 800 metre strike length.
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The MAC Project is an advanced-stage molybdenum-copper exploration project with newly recognized nickel-iron-chromium potential located approximately 80 kilometres northwest of the town of Fort St. James, BC. MAC is situated in a prolific porphyry region 40 kilometres west of two former producing copper mines, Bell and Granisle, 90 kilometres north of the Endako molybdenum mine, and 120 kilometres southwest of the Mt. Milligan gold-copper project. On April 24, 2012, Stratton released an initial NI 43-101 resource estimate for the Camp Zone, containing 70.4 million tonnes of Indicated Resource grading 0.063% molybdenum ("Mo") and 0.10% copper ("Cu"), including a near surface higher grade Indicated Resource of 15.3 million tonnes grading 0.104% Mo and 0.16% Cu. The estimate also contained an Inferred Resource of 177.9 million tonnes grading 0.042% Mo and 0.05% Cu. Further drill testing is required to determine the extent of additional resources at depth and along strike, as well as to upgrade portions of the Inferred Resource. The resources were calculated using a cut-off grade of 0.035% Mo and full details of the resource estimate are available on the Company's website. Please refer to Company news release dated April 24, 2012.
Richard Haslinger, P.Eng., is the qualified person with respect to NI 43-101 who has reviewed the technical disclosure in this news release and is responsible for the technical information contained in this release other than the estimation of Mineral Resources. Soil, silt and rock samples for multi-element analyses were collected by contract field crews and shipped to AGAT Laboratories sample preparation facility in Terrace and Vancouver, British Columbia. Prepared sample pulps were forwarded to AGAT Laboratories' analytical facilities in Mississauga, Ontario for multi-element ICP analysis of multi-acid and aqua-regia digestions.
On behalf of the Board of Directors,
Greg McCunn, President & CEO
About Stratton Resources
Stratton Resources Inc. is a Canadian mineral exploration company focused on the discovery and development of porphyry molybdenum-copper deposits in British Columbia. Stratton's goal is to build a quality asset portfolio consisting of base metal properties at various stages of development. With an experienced management team with a proven track record of successful discovery and development of mineral deposits, Stratton is positioned to rapidly build shareholder value.
For more information please visit our website at www.strattonresources.com.
The above release contains forward-looking information, which in Stratton's view is based on reasonable assumptions and estimates. There can be no assurance that forward looking statements will prove to be accurate and are subject to may factors beyond the control of Stratton including third party consents, regulatory approvals the state of capital markets and the appetite for higher risk junior resource companies. For further details about Stratton and the risks it faces see its public filings at www.sedar.com.
This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the equities mentioned in this release in any jurisdiction in which such an offer, solicitation or sale would be unlawful. The equities mentioned in this release have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to, or for the benefit of, U.S. persons (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from such registration requirements.
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