News
Strait improves access for drilling Letra Rumi South copper property
April 2, 2008
Strait Gold Corporation is pleased to report that work on improving a trail for access to its Letra Rumi South porphyry copper prospect in Peru has been completed and an exploration camp has been set up in preparation for an initial diamond drill program.
Application for a Class B drill permit will be made shortly based on proposed drill-hole locations established by previous surface sampling, mapping and geophysical surveying. The Company has also obtained approval from the local community for use of communally held surface rights, a prerequisite for obtaining a drilling permit.
"Letra Rumi South presents a rare opportunity to drill test, for the first time, widespread surface copper mineralization with down-depth geophysical continuity," said Strait Gold President Jim Borland. "We are in a very favourable geological environment and our early work indicates that this could be a significant discovery."
Letra Rumi South is a bulk tonnage copper target with local gold, silver and molybdenum enrichment. Widespread, low-grade copper mineralization has been identified to date over two principal zones on surface. An induced polarization survey conducted in 2007 shows three strong chargeability anomalies, two of which correlate with surface mineralization while the third does not outcrop. Intense silica, potassic, and phyllic alteration associated with copper mineralization suggests a porphyry-style magmatic source to hydrothermal fluids.
Strait Gold staked the property in 2006 after a reconnaissance visit discovered extensive gossans along with significant copper and local precious metal values from surface sampling. In May 2007, a program of detailed sampling was performed over the two known gossanous zones, coupled with bedrock mapping. A total of 182 surface grab samples collected from the two gossans average 0.1% copper with values as high as 4.4% copper, 2.5 g/t gold and 77 g/t silver. One sample returned 0.1% molybdenum. Previous activity on the property has been limited to very minor artisanal mining.
Letra Rumi South is hosted within the same belt of tertiary volcanic rocks that host the high sulphidation Pierina and Lagunas Norte gold mines (Barrick Gold), the Pashpap porphyry copper-molybdenum deposits (Northern Peru Copper), and the recently discovered San Luis silver-gold low-sulphidation epithermal deposit (a joint venture of Esperanza Silver and Silver Standard Resources).
Ryan Weston, P.Geo. is the Qualified Person as defined by NI 43-101 for the purpose of this press release and has reviewed its technical content.
About Strait Gold Corporation:
Strait Gold Corporation is a Canadian mineral exploration company active in Peru and listed on the TSX Venture Exchange. To learn more about Strait Gold, please visit our website at www.straitgold.com.
For further information:
Jim Borland, President
Tel.: 416-223-9970
info@straitgold.com
Forward Looking Statement: Some of the statements contained herein may be forward-looking statements which involve known and unknown risks and uncertainties. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward looking statements that involve various risks. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward looking statements: changes in the world wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital. There can be no assurance that forward-looking statements will prove to be accurate as actual results and future events may differ materially from those anticipated in such statements. Strait Gold undertakes no obligation to update such forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on such forward-looking statements.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.
