Resource Definition, Exploration and Mining Planning
Behre Dolbere completed a Qualifying Report, compliant with National
Instrument 43-101 for Stroud Resources. The report concludes that
the Hislop project contains indicated resources of approximately
102,750 ounces of gold and total inferred resources of approximately
69,700 ounces of gold. The technical report has been filed with
SEDAR and can be viewed under the Company's filings at www.sedar.com
or on the Company's web site at www.stroudresourcesltd.com. Stroud
now anticipates initiating an infill drilling program to add resources
and upgrade the resources to reserve categories. If successful,
the plan would be to advance the project through underground development
and advanced underground exploration. Stroud has also recently digitized
all Hislop drill log results into a CAD like mining software, which
has already proved an invaluable tool in furthering the development
of the project.
The Company intends to do an infill drilling program on the Hislop property once funding can be arranged on favorable terms.
Underground access to the Creek zone would be obtained through
a ramp (an inclined tunnel) to a depth of 150 m below the surface.
Levels (horizontal tunnels) would be drilled and blasted in the
Creek zone at 100 and 150 m levels below the surface. These levels
would be connected by raises (vertical tunnels).
Based on historical costs, management believes that a program like
this would take 12 months to complete at a cost of approximately
$5.3 million. It is believed that mining could commence at 400 to
500 tons per day as additional development work was carried out.