Click here to close now.




















Welcome!

News Feed Item

Strait Extends Porphyry Mineralization at Alicia

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.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
SYS-CON Events announced today that DataClear Inc. will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. The DataClear ‘BlackBox’ is the only solution that moves your PC, browsing and data out of the United States and away from prying (and spying) eyes. Its solution automatically builds you a clean, on-demand, virus free, new virtual cloud based PC outside of the United States, and wipes it clean...
Too often with compelling new technologies market participants become overly enamored with that attractiveness of the technology and neglect underlying business drivers. This tendency, what some call the “newest shiny object syndrome,” is understandable given that virtually all of us are heavily engaged in technology. But it is also mistaken. Without concrete business cases driving its deployment, IoT, like many other technologies before it, will fade into obscurity.
Any Ops team trying to support a company in today’s cloud-connected world knows that a new way of thinking is required – one just as dramatic than the shift from Ops to DevOps. The diversity of modern operations requires teams to focus their impact on breadth vs. depth. In his session at DevOps Summit, Adam Serediuk, Director of Operations at xMatters, Inc., will discuss the strategic requirements of evolving from Ops to DevOps, and why modern Operations has begun leveraging the “NoOps” approa...
While many app developers are comfortable building apps for the smartphone, there is a whole new world out there. In his session at @ThingsExpo, Narayan Sainaney, Co-founder and CTO of Mojio, will discuss how the business case for connected car apps is growing and, with open platform companies having already done the heavy lifting, there really is no barrier to entry.
SYS-CON Events announced today that G2G3 will exhibit at SYS-CON's @DevOpsSummit Silicon Valley, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Based on a collective appreciation for user experience, design, and technology, G2G3 is uniquely qualified and motivated to redefine how organizations and people engage in an increasingly digital world.
As more intelligent IoT applications shift into gear, they’re merging into the ever-increasing traffic flow of the Internet. It won’t be long before we experience bottlenecks, as IoT traffic peaks during rush hours. Organizations that are unprepared will find themselves by the side of the road unable to cross back into the fast lane. As billions of new devices begin to communicate and exchange data – will your infrastructure be scalable enough to handle this new interconnected world?
SYS-CON Events announced today that Micron Technology, Inc., a global leader in advanced semiconductor systems, will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Micron’s broad portfolio of high-performance memory technologies – including DRAM, NAND and NOR Flash – is the basis for solid state drives, modules, multichip packages and other system solutions. Backed by more than 35 years of tech...
This Enterprise Strategy Group lab validation report of the NEC Express5800/R320 server with Intel® Xeon® processor presents the benefits of 99.999% uptime NEC fault-tolerant servers that lower overall virtualized server total cost of ownership. This report also includes survey data on the significant costs associated with system outages impacting enterprise and web applications. Click Here to Download Report Now!
SYS-CON Events announced today that Pythian, a global IT services company specializing in helping companies leverage disruptive technologies to optimize revenue-generating systems, has been named “Bronze Sponsor” of SYS-CON's 17th Cloud Expo, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Founded in 1997, Pythian is a global IT services company that helps companies compete by adopting disruptive technologies such as cloud, Big Data, advance...
SYS-CON Events announced today the Containers & Microservices Bootcamp, being held November 3-4, 2015, in conjunction with 17th Cloud Expo, @ThingsExpo, and @DevOpsSummit at the Santa Clara Convention Center in Santa Clara, CA. This is your chance to get started with the latest technology in the industry. Combined with real-world scenarios and use cases, the Containers and Microservices Bootcamp, led by Janakiram MSV, a Microsoft Regional Director, will include presentations as well as hands-on...
Cloud and datacenter migration innovator AppZero has joined the Microsoft Enterprise Cloud Alliance Program. AppZero is a fast, flexible way to move Windows Server applications from any source machine – physical or virtual – to any destination server, in any cloud or datacenter, using its patented container technology. AppZero’s container is also called a Virtual Application Appliance (VAA). To facilitate Microsoft Azure onboarding, AppZero has two purpose-built offerings: AppZero SP for Azure,...
Organizations from small to large are increasingly adopting cloud solutions to deliver essential business services at a much lower cost. According to cyber security experts, the frequency and severity of cyber-attacks are on the rise, causing alarm to businesses and customers across a variety of industries. To defend against exploits like these, a company must adopt a comprehensive security defense strategy that is designed for their business. In 2015, organizations such as United Airlines, Sony...
SYS-CON Events announced today that HPM Networks will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. For 20 years, HPM Networks has been integrating technology solutions that solve complex business challenges. HPM Networks has designed solutions for both SMB and enterprise customers throughout the San Francisco Bay Area.
Consumer IoT applications provide data about the user that just doesn’t exist in traditional PC or mobile web applications. This rich data, or “context,” enables the highly personalized consumer experiences that characterize many consumer IoT apps. This same data is also providing brands with unprecedented insight into how their connected products are being used, while, at the same time, powering highly targeted engagement and marketing opportunities. In his session at @ThingsExpo, Nathan Trel...
Red Hat is investing in Tesora, the number one contributor to OpenStack Trove Database as a Service (DBaaS) also ranked among the top 20 companies contributing to OpenStack overall. Tesora, the company bringing OpenStack Trove Database as a Service (DBaaS) to the enterprise, has announced that Red Hat and others have invested in the company as a part of Tesora's latest funding round. The funding agreement expands on the ongoing collaboration between Tesora and Red Hat, which dates back to Febr...