Drilling Underway on Stroud's Hislop Gold Project
23 Giugno 2011 - 1:30PM
Marketwired
Stroud Resources Ltd. (TSX VENTURE: SDR) ("Stroud") is pleased to
announce that the 2011 exploration program is underway at its
Hislop Gold Project near Timmins, Ontario.
St Andrew Goldfields Ltd., who has been granted the right by
Stroud to earn up to a 60% interest in the project, plans on
commencing with a 10,000 metre drilling program in approximately 20
boreholes. St Andrew currently has one drill on the property and is
expected to add a second drill in the coming months. The drill
program has been designed with the goal of doubling the existing
resources on the property.
In addition, St Andrew is planning to commence environmental
work on the property, which includes the collection of baseline
data for preliminary permitting for advanced exploration work.
These studies will augment previous data collected for St Andrew's
environmental study on its Hislop Mine property, which adjoins
Stroud's Hislop property.
Previous drill programs have successfully traced a mineralized
system on Stroud's Hislop property extending over a strike length
of approximately 650 metres with drill hole intersections down to a
vertical depth of 400 metres. This mineralized system primarily
consists of a bi-furcating system of quartz veins, trending
northwest with a central vein system dipping approximately 70
degrees to the south. Specifically, the auriferous mineralization
is closely associated with "grey veins", which in turn are
associated with multiple silica events carrying fine grained pyrite
and cutting previous or closely coincident quartz veins, silicified
feldspar porphyry or silicified volcanics.
George Coburn, P.Geo. President and CEO of Stroud Resources
Ltd., is the Qualified Person within the meaning of National
Instrument 43-101 and has reviewed and approved this news
release.
Stroud is a debt-free exploration company focused on the
discovery and exploration of silver and gold deposits in Mexico and
Ontario. Stroud owns a 100% interest in the Santo Domingo
epithermal silver-gold project in central Mexico. In addition to
the Santo Domingo project, Stroud also owns a 100% interest in the
Hislop gold property, near Timmins, Ontario and the Leckie gold
property, near North Bay, Ontario. Stroud has granted St. Andrew
Goldfields an option to earn up to a 60% interest in the Hislop
gold property. Stroud also generates cash flow from a 3.75%
interest in six natural gas, and natural gas condensate wells in
central Alberta.
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.
Contacts: Stroud Resources Ltd. Mr. George Coburn President and
CEO (416) 362-4126 g.coburn@stroudresourcesltd.com
www.stroudresourcesltd.com
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