BASE METAL DEVELOPMENT: Stratabound permitting Captain North

NEW BRUNSWICK – Stratabound Minerals of Calgary is pressing forward with permitting its Captain North Extension (CNE) zinc-lead-silver-copper-gold deposit for production. The property is near Bathurst, and the ore will be custom milled at the Brunswick mill belonging to Xstrata Zinc. Stratabound is working with federal and provincial agencies to secure a favourable environmental decision, construction approval and an operating permit.

Stratabound’s latest resource estimate at a cut-off of 1.5% ZnEq, reports the CNE deposit as having a measured resource of 37,710 tonnes at 5.77% Zn, 1.91% Pb, 0.06% Cu and 63.91 g/t Ag; an indicated resource of 277,044 tonnes at 4.54% Zn, 1.66% Pb, 0.11% Cu and 60.40 g/t Ag; and an inferred resource of 16,517 tonnes at 2.74% Zn, 1.20% Pb, 0.06% Cu and 37.50 g/t Ag.

The CNE preliminary economic assessment prepared in 2011 examined an open pit operating at a rate of 1,000 t/d. Preproduction capital costs would total $6.9 million.

The PEA is posted at Stratabound.com.