Stratabound establishes Mexican presence

Junior Stratabound Minerals (SB-A) will buy a polymetallic property in northeastern Mexico.

Situated near the city of Monclova in Coahuila state, the property is accessible by paved highway and gravel road. A major railroad, power line and several lead-zinc smelters are also nearby.

Small-scale mining in the 19th century exploited near-surface, direct-to-smelter oxide ore with combined zinc-lead grades exceeding 30%. In the 1970s, ore-grade massive sulphide mineralization was encountered in the lowermost workings, about 100 ft. below the access level. Following the discovery, 4,400 tons were mined grading 12% zinc and 4% lead, plus 0.01 oz.

gold and 0.9 oz. silver per ton.

The mineralized zone has been traced in underground workings for 625 ft.

along strike. The zone remains open in that direction, as well as downdip.

Drilling is required to determine the zone’s extent and grade, but surface pits and showings suggest the presence of a second zinc-rich zone.

Underground exploration and limited assaying of dump samples by Stratabound confirm strong oxide and sulphide mineralization. One dump sample returned 35.1% lead, 17.3% zinc and 2.7 oz. silver.

Mineralization occurs as high-grade, argentiferous lead-zinc replacements in a favorable carbonate unit. Some Mexican deposits of this geological type have turned out to be as large as 55 million tons.

Initially, the company intends to define an oxide and a sulphide resource in the immediate vicinity of old mine workings. It then hopes to delineate a deposit comparable to the larger replacement-type mines.

Since 1977, the property has changed hands twice through inheritance, and, due to legal considerations, has not been available until recently.

Stratabound can acquire it by paying US$125,000 over five years. A 1% net smelter return royalty is payable to the vendor on production, though the royalty can be purchased by Stratabound at any time for US$500,000 minus the option payments.

Exploration will begin upon registration of Stratabound’s new Mexican subsidiary, Stratamex.