|By Marketwired .||
|January 21, 2014 04:40 PM EST||
TORONTO, ONTARIO -- (Marketwired) -- 01/21/14 -- Strait Minerals Inc. ("Strait" or the "Company") (TSX VENTURE:SRD) is pleased to report results from a drill program at the Company's 100%-owned Alicia porphyry copper property in Peru.
Teck Peru S. A. ("Teck Peru"), a wholly owned subsidiary of Teck Resources Limited ("Teck"), funded the program under an option/joint-venture agreement with the Company. Selected results from the 10-hole, 4,000-metre core drilling program are provided in the table below.
--------------------------------------------------------------------------- Easting Northing Inter- Cu Mo Hole ID (i) (i) From To section (%) (%) --------------------------------------------------------------------------- ALC-13-19 177765 8440470 38 46 8 0.10 less than 0.001 ALC-13-20 177600 8440930 64 88 24 0.24 0.002 including 64 74 10 0.40 0.006 ALC-13-21 177600 8440780 40 120.5 80.5 0.17 less than 0.001 including 84 94 10 0.25 less than 0.001 ALC-13-22 177600 8440480 190.35 198.35 8 0.11 less than 0.001 316.35 350.35 34 0.17 0.001 including 322.35 332.35 10 0.29 0.001 ALC-13-23 177400 8440917 161.8 182 20.2 0.10 0.004 200 252 52 0.10 0.003 including 200 220 20 0.13 0.006 364 544.6 180.6 0.11 0.002 including 364 378 14 0.22 0.004 including 370 376 6 0.36 0.008 ALC-13-24 177400 8440617 6 19.5 13.5 0.11 less than 0.001 ALC-13-25 178300 8440800 11.9 34.55 22.65 0.11 less than 0.001 101.9 158 56.1 0.12 0.001 337.1 347.3 10.2 0.16 0.008 ALC-13-26 178800 8440435 No assays - Limestone ALC-13-27 178300 8440650 184 203.7 19.7 0.12 0.001 294 300 6 0.10 0.002 ALC-13-28 177248 8440767 152 163 11 0.14 less than 0.001 388.5 503.7 115.2 0.05 0.010 including 388.5 419 30.5 0.10 0.009 --------------------------------------------------------------------------- (i) UTM Co-ordinate system PSAD 56 Zone 19S. For complete assays results, click on this link: http://www.straitminerals.com/i/pdf/Assays-2013-Complete.pdf
Drilling tested the outcropping zone of porphyry intrusives across approximately 900 metres east to west. In addition, two holes were drilled to test for porphyry mineralization under cover to the east and west of the area of outcrop (See drill location map at: http://www.straitminerals.com/i/pdf/KTh-Comp-with-2013-drillholes.pdf). The average depth of the holes was 400 metres with the deepest hole, ALC-13-23, bottoming at 601 metres and ALC-13-26, a 500m step-out to the east, terminated in barren limestone at 61 metres.
Porphyry style alteration was intersected in nine of the 10 holes, with the exception being ALC-13-26. Potassic alteration (biotite-K-feldspar+/- magnetite) is dominant in the central and western part of the porphyry complex, with lesser sericite-chlorite-clay (SCC) alteration. Both of these alteration types are also present in hole ALC-13-28, a 150-metre step-out drilled to test for porphyry mineralization under cover to the west of the limit of outcrop.
"This program confirmed the existence of a mineralized copper-molybdenum porphyry system at Alicia," said Strait President Jim Borland. "The full extent of the mineralization has not yet been established, as drilling tested only a portion of the area of interest outlined by geophysics, rock sampling and soil sampling. In particular, the presence of porphyry mineralization and alteration in hole ALC-13-28 suggests further potential associated with untested soil anomalies to the west and northwest."
Alicia lies within the 150-km-long Andahuaylas-Yauri copper belt where several large copper projects are at the development stage. Most notable of these are Glencore-Xstrata's Las Bambas project approximately 40 km west of Alicia and HudBay Mining's Constancia project approximately 60 km east of Alicia. The Company also holds an option to earn a 100% interest in the Caribe property approximately 80 km west of Alicia and within the same copper belt.
Under an Option/Joint Venture Agreement, Teck Peru can earn an initial 45% interest in the Alicia property by spending $4 million by December 31, 2014. Since entering into the Agreement in late 2011, Teck Peru has spent approximately $2.5 million. Strait has conducted the exploration program on Teck Peru's behalf for which it received a 10% management fee. Teck Peru can earn up to a 75% interest in the Alicia property in stages by December 31, 2019, by, among other things, (a) completing aggregate exploration expenditures of $30 million or (b) completing aggregate exploration expenditures of $10 million and delivering a pre-feasibility study.
Drilling by Strait in 2011, prior to optioning the property to Teck Peru, tested several outcropping skarn zones along the contact of the porphyritic intrusives with surrounding limestone. That program intersected continuous mineralization across 600 metres, east to west. (See NI43-101- technical report filed April 26, 2011, on sedar.com). Best results from that drilling included 94.3 metres (true width) of skarn material in Hole ALC10-08 grading 0.33% copper and 0.04 grams per tonne (g/t) gold and 134.0 metres of skarn material in Hole ALC11-16 grading 0.29% copper and 0.03 g/t gold.
Quality Control and Quality Assurance
All sampling is supervised by Strait Minerals personnel. Samples are placed in plastic sample bags that are closed with single use plastic ties. Samples are securely stored in a locked room prior to transportation to Cusco by Strait Minerals personnel. Copper and molybdenum, together with 30 other elements, were assayed by inductively coupled plasma-atomic emission spectrometry (ICP-AES) following aqua regia dissolution. Samples with copper assays above the upper limit for the ICP-AES technique were re-assayed by atomic absorption (AA). Strait Minerals routinely carries out a program of quality assurance/quality control (QA/QC) that includes insertion of blanks, standards and duplicates into the sample stream to verify results prior to dissemination.
All of the Company's exploration programs are prepared by, or prepared under the supervision of, Dr. Roger Moss, P.Geo., who serves as the Qualified Person as defined by NI 43-101 and is a director of the Company. Dr. Moss has reviewed and approved the technical content of this news release.
About Strait Minerals Inc.
Strait Minerals Inc. is a Canadian mineral exploration company active solely in Peru since 2003 and listed on the TSX Venture Exchange. It holds a 100% interest in the Alicia copper-gold property which lies within the Andahuaylas-Yauri copper belt approximately 500 km southeast of Lima. Strait has granted Teck Peru S.A., a wholly owned subsidiary of Teck Resources Limited, an option to earn up to a 75% interest in the property by, among other things, spending $30 million on exploration or by spending $10 million on exploration and delivering a pre-feasibility study. The Company also holds an option to earn a 100% interest in the Caribe copper-molybdenum property approximately 80 km west of Alicia and holds a 100% interest in both the Letra Rumi South base metals property and the Culebrilla precious metals property approximately 250 km north of Lima. The Company continuously reviews exploration opportunities in Peru and is actively seeking additional projects. Please visit our web site at www.straitminerals.com.
Forward Looking Statement: Some of the statements contained herein may be forward-looking statements which involve known and unknown risks and uncertainties. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward looking statements that involve various risks. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward looking statements: changes in the world wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital. There can be no assurance that forward-looking statements will prove to be accurate as actual results and future events may differ materially from those anticipated in such statements. Strait undertakes no obligation to update such forward-looking statements if circumstances or management's estimates or opinions should change, except as required by law. The reader is cautioned not to place undue reliance on such forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Regulatory requirements exist to promote the controlled sharing of information, while protecting the privacy and/or security of the information. Regulations for each type of information have their own set of rules, policies, and guidelines. Cloud Service Providers (CSP) are faced with increasing demand for services at decreasing prices. Demonstrating and maintaining compliance with regulations is a nontrivial task and doing so against numerous sets of regulatory requirements can be daunting task...
Oct. 27, 2016 03:15 AM EDT Reads: 1,842
What are the successful IoT innovations from emerging markets? What are the unique challenges and opportunities from these markets? How did the constraints in connectivity among others lead to groundbreaking insights? In her session at @ThingsExpo, Carmen Feliciano, a Principal at AMDG, will answer all these questions and share how you can apply IoT best practices and frameworks from the emerging markets to your own business.
Oct. 27, 2016 03:00 AM EDT Reads: 2,684
Big Data has been changing the world. IoT fuels the further transformation recently. How are Big Data and IoT related? In his session at @BigDataExpo, Tony Shan, a renowned visionary and thought leader, will explore the interplay of Big Data and IoT. He will anatomize Big Data and IoT separately in terms of what, which, why, where, when, who, how and how much. He will then analyze the relationship between IoT and Big Data, specifically the drilldown of how the 4Vs of Big Data (Volume, Variety,...
Oct. 27, 2016 02:45 AM EDT Reads: 1,587
Between the mockups and specs produced by analysts, and resulting applications built by developers, there exists a gulf where projects fail, costs spiral, and applications disappoint. Methodologies like Agile attempt to address this with intensified communication, with partial success but many limitations. In his session at @DevOpsSummit at 19th Cloud Expo, Charles Kendrick, CTO at Isomorphic Software, will present a revolutionary model enabled by new technologies. Learn how business and deve...
Oct. 27, 2016 02:45 AM EDT Reads: 1,526
SYS-CON Events announced today that SoftNet Solutions will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. SoftNet Solutions specializes in Enterprise Solutions for Hadoop and Big Data. It offers customers the most open, robust, and value-conscious portfolio of solutions, services, and tools for the shortest route to success with Big Data. The unique differentiator is the ability to architect and ...
Oct. 27, 2016 02:15 AM EDT Reads: 1,117
The Internet of Things will challenge the status quo of how IT and development organizations operate. Or will it? Certainly the fog layer of IoT requires special insights about data ontology, security and transactional integrity. But the developmental challenges are the same: People, Process and Platform and how we integrate our thinking to solve complicated problems. In his session at 19th Cloud Expo, Craig Sproule, CEO of Metavine, will demonstrate how to move beyond today's coding paradigm ...
Oct. 27, 2016 02:00 AM EDT Reads: 3,958
For basic one-to-one voice or video calling solutions, WebRTC has proven to be a very powerful technology. Although WebRTC’s core functionality is to provide secure, real-time p2p media streaming, leveraging native platform features and server-side components brings up new communication capabilities for web and native mobile applications, allowing for advanced multi-user use cases such as video broadcasting, conferencing, and media recording.
Oct. 27, 2016 02:00 AM EDT Reads: 4,255
DevOps is being widely accepted (if not fully adopted) as essential in enterprise IT. But as Enterprise DevOps gains maturity, expands scope, and increases velocity, the need for data-driven decisions across teams becomes more acute. DevOps teams in any modern business must wrangle the ‘digital exhaust’ from the delivery toolchain, "pervasive" and "cognitive" computing, APIs and services, mobile devices and applications, the Internet of Things, and now even blockchain. In this power panel at @...
Oct. 27, 2016 01:45 AM EDT Reads: 2,145
Qosmos, the market leader for IP traffic classification and network intelligence technology, has announced that it will launch the Launch L7 Viewer at CloudExpo | @ThingsExpo Silicon Valley, being held November 1 – 3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. The L7 Viewer is a traffic analysis tool that provides complete visibility of all network traffic that crosses a virtualized infrastructure, up to Layer 7. It facilitates and accelerates common IT tasks such as VM migra...
Oct. 27, 2016 01:30 AM EDT Reads: 431
A completely new computing platform is on the horizon. They’re called Microservers by some, ARM Servers by others, and sometimes even ARM-based Servers. No matter what you call them, Microservers will have a huge impact on the data center and on server computing in general. Although few people are familiar with Microservers today, their impact will be felt very soon. This is a new category of computing platform that is available today and is predicted to have triple-digit growth rates for some ...
Oct. 27, 2016 01:00 AM EDT Reads: 34,296
As the world moves toward more DevOps and Microservices, application deployment to the cloud ought to become a lot simpler. The Microservices architecture, which is the basis of many new age distributed systems such as OpenStack, NetFlix and so on, is at the heart of Cloud Foundry - a complete developer-oriented Platform as a Service (PaaS) that is IaaS agnostic and supports vCloud, OpenStack and AWS. Serverless computing is revolutionizing computing. In his session at 19th Cloud Expo, Raghav...
Oct. 27, 2016 12:45 AM EDT Reads: 2,170
So you think you are a DevOps warrior, huh? Put your money (not really, it’s free) where your metrics are and prove it by taking The Ultimate DevOps Geek Quiz Challenge, sponsored by DevOps Summit. Battle through the set of tough questions created by industry thought leaders to earn your bragging rights and win some cool prizes.
Oct. 27, 2016 12:30 AM EDT Reads: 4,194
In past @ThingsExpo presentations, Joseph di Paolantonio has explored how various Internet of Things (IoT) and data management and analytics (DMA) solution spaces will come together as sensor analytics ecosystems. This year, in his session at @ThingsExpo, Joseph di Paolantonio from DataArchon, will be adding the numerous Transportation areas, from autonomous vehicles to “Uber for containers.” While IoT data in any one area of Transportation will have a huge impact in that area, combining sensor...
Oct. 27, 2016 12:00 AM EDT Reads: 1,117
SYS-CON Events announced today that Isomorphic Software will exhibit at DevOps Summit at 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Isomorphic Software provides the SmartClient HTML5/AJAX platform, the most advanced technology for building rich, cutting-edge enterprise web applications for desktop and mobile. SmartClient combines the productivity and performance of traditional desktop software with the simp...
Oct. 27, 2016 12:00 AM EDT Reads: 3,541
Almost everyone sees the potential of Internet of Things but how can businesses truly unlock that potential. The key will be in the ability to discover business insight in the midst of an ocean of Big Data generated from billions of embedded devices via Systems of Discover. Businesses will also need to ensure that they can sustain that insight by leveraging the cloud for global reach, scale and elasticity.
Oct. 27, 2016 12:00 AM EDT Reads: 11,132