Calgary-based Stratabound Minerals (ASE) has acquired two massive sulphide deposits in the heart of the Bathurst-Newcastle mineral belt of northern New Brunswick, the company said recently.
Known as the captain and Taylor Brook deposits, they are surrounded by a number of orebodies controlled by the Noranda Group and Cominco Ltd. (TSE).
The Captain property lies along the Canadian National Railways spur to Heath Steele Mines and in 1959, a division of the Energy, Mines and Resources department outlined 2,6 million tons grading 0.174% cobalt, 802,000 tons at 1.15% copper and 0.174% cobalt.
The reserves were based on the results of 26 drill holes, Stratabound says.
An additional 15 drill holes, completed in 1965, outlined a central core of 343,000 tons grading 1.9% copper, 0.017 oz gold and 0.28 oz silver.
The company plans to carry out additional work to confirm the current reserves and examine production possibilities.
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