Stratton Resources Inc. (TSX VENTURE:SI) ("Stratton" or the
"Company") is pleased to announce exploration progress at its Bear
Canyon Copper Project ("Bear Canyon") as well as the first set of
assay results from drilling at the MAC Molybdenum-Copper Project
("MAC"). In addition, the Company has filed an inaugural National
Instrument 43-101 (the "NI 43-101") report for its 100% owned Lunar
Copper-Gold porphyry exploration property in northern British
Columbia.
MAC Exploration Update
Stratton's initial objective at MAC is to confirm, expand and
quantify the historic, non NI 43-101 compliant, molybdenum-copper
resource. The first phase of this work, designed to produce an
updated NI 43-101 resource estimate, is to drill 10,000 metres of
diamond drill holes in the Camp zone, conduct airborne geophysics
over the entire land package and conduct approximately 60 line
kilometers of ground IP over the Peak, Camp and Pond zones.
To-date, the Company has completed:
-- 7,800 metres (35 holes) of diamond drilling with two rigs currently
active on site.
-- Airborne geophysics over all 13,000 hectares of claims at 100 to 200
metre line spacing.
-- 34 line kilometers of ground IP and 60 line kilometers of line cutting.
One diamond drill is deployed on the north-west contact of the
Camp zone and one on the east contact.
Please click the link below for a drill hole location map of the
35 holes drilled to-date or see the Company's website at
www.strattonresources.com.
To view the drill hole location map click on:
http://media3.marketwire.com/docs/si1122.pdf
Holes 1 through 5, 7 and 9 were drilled on the east contact zone
and all holes show significant molybdenum-copper mineralization
including a highlighted intercept of 93 metres of 0.123% Mo and
0.219% Cu.
East Zone Contact Drill Results
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From To Width Mo Cu
Hole ID (metres) (metres) (metres) (%) (%)
---------------------------------------------------------------------------
MC11-01 56 186 130 0.067 0.178
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including 58 140 82 0.081 0.168
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MC11-02 36 172 136 0.098 0.232
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including 47.3 140.2 92.9 0.123 0.219
---------------------------------------------------------------------------
MC11-03 9.1 190 181 0.081 0.198
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including 49 123 74 0.133 0.217
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MC11-04 9.1 184 174.9 0.083 0.151
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including 71 125.6 54.6 0.172 0.225
---------------------------------------------------------------------------
MC11-05 35 152 117 0.084 0.178
---------------------------------------------------------------------------
including 41 126 85 0.095 0.121
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MC11-07 50 124.3 74.3 0.119 0.191
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including 72 107.8 35.8 0.150 0.209
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MC11-09 66.6 167.6 101 0.117 0.189
---------------------------------------------------------------------------
Holes 6, 8 and 10 were drilled on north-west contact and show
significant molybdenum-copper mineralization including a highlight
intercept of 95 metres at 0.153% Mo and 0.155% Cu.
North-West Contact Zone Drill Results
---------------------------------------------------------------------------
From To Width Mo Cu
Hole ID (metres) (metres) (metres) (%) (%)
---------------------------------------------------------------------------
MC11-06 39 144.4 105.4 0.117 0.097
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including 87 129 42 0.200 0.116
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MC11-08 28 126 98 0.076 0.050
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including 32 94 62 0.082 0.069
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MC11-10 96 230.2 134.2 0.140 0.177
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including 108 203 95 0.153 0.155
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Stratton's President and CEO, Greg McCunn commented: "We are
very encouraged with the initial drill results from the MAC
Project. These results show the potential to both increase the
previously understudied copper grades of the historical resource as
well as expand upon the historic resource. We plan to complete both
the initial 10,000 metres of diamond drilling and 60 line
kilometers of ground IP in mid December. The complete program's
drilling results will be compiled into an NI 43-101 compliant
resource estimate, which will be completed in early 2012."
Bear Canyon Exploration Update
The first phase of drilling at Bear Canyon commenced in early
October with the objective of evaluating an IP geophysical anomaly
that had been defined by prior work and occurred under and along
strike from surface oxide copper and native copper occurrences.
To-date, seven drill holes have been completed with assay
results from the drilling still pending. Drilling has intercepted
broad sections of volcaniclasitics with matrix-supported intrusive
and volcanic fragments. Certain of these fragments show developed
copper-porphyry mineralization with observed chalcopyrite, bornite
and molybenite. In addition, narrow veins of epidote and native
copper occur regularly throughout the drill core and are thought to
be providing a vector toward an area of increasing strength of
mineralization.
Greg McCunn commented: "This first phase of drilling has
enhanced our view that Bear Canyon represents an exciting
opportunity for a new discovery in an area known to host large
copper porphyry deposits. The property has never been evaluated by
magnetic surveying, which we believe is the next important step to
determine if the intrusive source of this porphyry mineralization
is nearby."
The Company plans to fully evaluate the drilling results as they
become available and to undertake an airborne mag survey of the
entire 2,200 hectare claim area.
Lunar Project
In late October, the Company completed an initial NI 43-101
report on its 100% owned Lunar Copper-Gold porphyry exploration
target. The report describes the underlying geology of the project
area, summarizes the properties exploration history and reviews the
nature of the property's mineralization. A work program has been
proposed which will be used to develop the Company's exploration
program for 2012. The report is available on both SEDAR and the
Company's website at www.strattonresources.com.
On behalf of the Board of Directors,
Greg McCunn, President & CEO
Qualified Person
Richard Haslinger, P.Eng., is the qualified person under NI
43-101 who has reviewed the technical disclosure in this news
release and is responsible for the technical information contained
in this release.
At MAC, HQ diamond drill holes are positioned and oriented by
GeoMinex Consultants Inc. who then also lay out and oversee
sampling and insertion of quality control standards, blanks and
duplicates into the core sample stream. Samples are collected from
two metre sawn core intervals and transported to Acme Laboratories
for near-total hot four-acid digestion and ICP-ES (inductively
coupled plasma emission spectroscopy) multi-element analysis.
About Stratton Resources
Stratton Resources Inc. is a Canadian mineral exploration
company focused on the discovery and development of porphyry
molybdenum-copper deposits in British Columbia and Arizona.
Stratton's goal is to build a quality asset portfolio consisting of
base metal properties at various stages of development. With an
experienced management team, that has a proven track record of
successful discovery and development of mineral deposits, Stratton
is positioned to rapidly build shareholder value.
For more information please visit our website at
www.strattonresources.com.
Disclosure Notes
The above release contains forward-looking information, which in
Stratton's view is based on reasonable assumptions and estimates.
There can be no assurance that forward looking statements will
prove to be accurate and are subject to may factors beyond the
control of Stratton including third party consents, regulatory
approvals the state of capital markets and the appetite for higher
risk junior resource companies. For further details about Stratton
and the risks it faces see its public filings at www.sedar.com.
The securities referred to herein have not been and will not be
registered under the United States Securities Act of 1933, as
amended (the "U.S. Securities Act") or any state securities laws
and may not be offered or sold within the United States or to, or
for the benefit of, U.S. persons (as defined in Regulation S under
the U.S. Securities Act) unless registered under the U.S.
Securities Act and applicable state securities laws or pursuant to
an exemption from such registration requirements.
Neither the TSX Venture Exchange nor any other regulatory
authority accepts responsibility for the adequacy or accuracy of
this release.
Contacts: Stratton Resources Inc. Greg McCunn President &
CEO 778-729-0500 or Toll Free: 1-800-863-8655 604-683-8194
(FAX)info@strattonresources.comwww.strattonresources.com
Stratton Resources Inc. (TSXV:SI)
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