Silver continues to out perform gold and is currently around US $35.00.
Fundamentals for silver continue to be bullish. Approximately 600 million
ounces of silver are mined each year. About 870 million ounces of silver
are consumed each year by industry, jewellery and photography. Recycling
and investor selling make up the “shortfall” between production and
A one million dollar program is scheduled to recommence on the Hislop property in June 2011. St. Andrews will be the operator of the program. Stroud will prepare a new resource estimate at the end of 2011.
A Qualifying Report compliant with NI 43-101 confirms indicated resources of 102,750 oz. of gold and inferred resources of 69,700. Gold deposits
along the Destor Porcupine fault zone tend to get richer with depth.
Drilling is currently being carried out on the Santo Domingo
project. A minimum of 6 months of drilling is planned for the program.
Drilling will concentrate on delineating the ore grade mineralized silver,
gold, lead and zinc zones encountered in the previous drill holes and in
A Qualifying Report compliant with NI-43-101 confirms the following:
Silver-Equivalencies are calculated using a 46:1 ratio based on Gold at $1348.90/oz and Silver at $29.06/oz dated Feb.04, 2011. Recoveries were estimated at 92% for Silver and 95% for Gold. No Base metals were used for calculating Silver Equivalencies.
* Cut-off was USD $20 per tonne. This cut-off was calculated using a grade of 45 g/t of Silver Equivalent calculated at an historical ratio of 65:1 based on USD $15 per ounce of Silver and USD $975 per ounce of Gold
Goals of the Santo Domingo drilling:
- Confirm the extension of the La Rayas zone, which was
previously intersected in the 2008 drilling program
- Qualify the potential grade and size of the La Rayas zone
- Evaluate the newly discovered Guadalupe zone
Goals of the Hislop Drilling program:
- Double the existing measured and indicated gold resource as outlined by the
- Commence environmental studies on the project
- Carry out a new NI-43-101 resource evaluation at the end of the Program
Consistent revenue from natural gas and natural gas condensate. Currently Stroud has a 3.75% interest in six producing wells. Revenues are now in excess of $120,000 a year.
In conclusion there are a number of reasons to be optimistic about Stroud:
- Rising metal prices
- An ongoing drilling program at the Santo Domingo property
- Drilling to commence on the Hislop project in June 2011
- Leckie project is drill ready
- Revenue from natural gas and natural gas condensate
- A debt free company