StrataGold hits more high-grade gold at Tassawini (October 10, 2005)

Vancouver — With results in hand from 10 new drill holes, StrataGold (SGV-T) has intersected additional high-grade gold mineralization at its wholly owned Tassawini project, situated 170 km northwest of Georgetown, Guyana.

The highlight from the latest round of drilling was hole SD016, which returned 21 metres grading 38.13 grams gold per tonne, starting at 107.5 metres in bedrock below the saprolite. The hole was drilled on the Tassawini East zone, and includes a 3-metre interval grading 256 grams gold.

Other holes returned less spectacular, albeit still respectable results, including: 36 metres of 1.85 grams gold (starting at 53.5 metres); 55.5 metres of 1.68 grams (starting at 4 metres); 14 metres of 2.73 grams (starting at 1 metre); and 12 metres of 3.33 grams (starting at 80.5 metres).

Hole SD018 returned two mineralized intervals: 9.2 metres of 6.07 grams (starting at 22 metres); and 10 metres of 2.5 grams (starting at 74.5 metres). Hole SD019 returned three near-surface mineralized intervals: 7.9 metres of 1.09 grams; 13.5 metres of 0.62 gram; and 22.5 metres of 0.73 gram gold.

Earlier this summer, StrataGold reported that hole SD003, drilled on the West zone, had intersected 41.4 metres grading 21 grams uncut (or 6.8 grams with high-grade assays cut to 34.3 grams). This intersection includes a 27.96-metre interval grading 30.1 grams (9.07 grams cut) from 25.54 metres to 53.5 metres.

Hole SD002 returned 4.73 grams (4.32 cut) over 49 metres, with the top 10.14 metres averaging 11.01 grams (9.07 grams cut).

StrataGold has drilled 36 diamond-drill holes totalling 5,821 metres to date at the 14.25-sq.-km project. Work has focused on the East and West zones, which are viewed as separate, parallel zones that remain open along strike. The property also hosts other zones that are yet to be fully tested.

The Tassawini project has a mining history dating back to 1907, when a British company first exploited placer deposits. Mining ceased in 1914. The project sat idle for decades, until various international agencies carried out sporadic exploration programs in the 1940s through the 1960s. Several mining companies operated programs collectively valued at about US$11.5 million during the 1980s and 1990s.

StrataGold acquired the project in May of 2004, and focused its efforts on confirming results from previous operators and defining known gold zones. The company notes that the geological environment at Tassawini “may have shared its origins with the Birimian meta-sedimentary terrains of West Africa,” which in turn host numerous gold deposits.

StrataGold also holds several gold projects in the Yukon, including the Dublin Gulch and Clear Creek properties in the Tintina gold belt.