Captain Copper Deposit - 100% Owned
In 2011, Stratabound received a National Instrument 43-101 compliant Technical Report, including a Mineral Resource Estimate, from Mercator Geological Services. This resource estimate, summarized below, reflected mineralization defined by 30 holes drilled by Stratabound.
NI43-101 Resource Estimate:
At 1.0% CuEq* cut-off: Measured & Indicated 667,000 tonnes @ 1.42% Cu, 0.048% Co [1.06 lb/t Co], 0.25 g/t Au; plus Inferred 298,000 tonnes @ 1.18% Cu, 0.038% Co [0.84 lb/t Co], 0.20 g/t Au.
At 0.6% CuEq* cut-off: Measured & Indicated 1,006,000 tonnes @ 1.03% Cu, 0.051% Co [1.12 lb/t Co], 0.20 g/t Au; plus Inferred 960,000 tonnes @ 0.64% Cu, 0.039% Co [0.86 lb/t Co], 0.12g/t Au.
*Based on total in-situ metal - no recovery factors applied
Metallurgical testing has shown excellent copper recoveries.
The Captain mineralization has a plunge extent of at least 400 metres of disseminated, stringer, semi-massive, and massive sulphides, measuring approximately 150 metres in surface strike length and having a maximum width of about of 50 metres.
It is open down dip and down plunge, as well as along strike below the 80 metre level.
Stratigraphy, structure, geophysics, and alteration features suggest undiscovered exhalative lead-zinc-silver massive sulphide mineralization may be present 500 to 600 metres below surface.
Detailed studies of Captain drill core support the view that the Captain deposit is an overturned “feeder stockwork” zone, i.e. a footwall alteration pipe, on or near the contact between Nepisiguit Falls Formation and Flat Landing Brook Formation strata (the productive “Brunswick Horizon”), presenting a high-quality exploration target.
The deepest hole to date intersected 19.5 metres of massive sulphide mineralization grading 1.12% copper, within which 8.5 metres graded 2.11% copper, 0.052% cobalt, 12.4 g/t silver, and 0.30 g/t gold, including 2.0 metres of 5.46% copper, 0.093% cobalt, 30.5 g/t silver, and 0.65 g/t gold.
Stratabound is seeking a joint-venture partner to further explore this property.
Results from a downhole pulse EM geophysical survey completed during the first quarter of 2014 suggest the copper-cobalt vent complex may continue on a northerly trend.