Stratabound asks for study on impact of CNE bulk sample

Stratabound’s confidence in the project is based on independent preliminary metallurgical and economic studies which indicate that the deposit could be mined at a cost of $30 per ton. Waste to ore ratio is expected to be less than 2:1.

A 20-hole shallow drill program has outlined 210,000 tons of grade 7.60% zinc, 2.98% lead and 2.92 oz silver per ton in estimated reserves. That estimate is based on a cut-off of 4% for zinc or 6% combined lead- zinc over a minimum width of 3 m.

An independent study by Toronto-based Roscoe Postle Associates, says the mineralized lenses have an average horizontal width of 7.6 m.

“The deposit is open along strike and at depth, and the outlook for expanding underground and open pit reserves is excellent,” said Stratabound President Stan Stricker.

With at least three mills in the immediate vicinity, the pre-production and capital costs of the operation are expected to be well below $1 million, according to Stricker.

In other news, Stratabound says it has completed a $100,000 private placement of 71,500 common shares at $1.40 each with Caparo Group Ltd., a private holding company based in England.

Caparo Group has a 75% stake in Caparo Industries, a multinational, publicly traded industrial corporation which last year reported sales revenues of $300 million.

Caparo Group recently increased its stake in Stratabound to 13.22% by acquiring 50,000 shares on the open market. Stratabound currently has 3.17 million shares outstanding.

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