TORONTO, ONTARIO, Mar 13, 2012 (MARKETWIRE via COMTEX) — Stroud Resources Ltd. (“Stroud” or the “Company”) is pleased to announce the latest results from its drill program at the Santo Domingo project in central Mexico. The three drill holes were drilled on section 5829 North, below DDH-42 (see December 1, 2011 press release) and above DDH-11. These holes trace the mineralization 175 metres down dip.
Drill hole DDH-43 was drilled at -40 degrees and intersected 21.0 metres of 56.923g/t silver and 0.131g/t gold, including 7.0 metres of 93.771g/t silver and 0.131g/t gold, as well as 13.0 metres of 38.846g/t silver and 0.358g/t gold.
DDH-44 was drilled below DDH-43 at -55 degrees. The drill core indicates that past mineralization faulting (likely the same fault encountered in drill hole DDH-38), has limited the size of the mineralized zone. Drill hole DDH-44 intersected 6.0 metres of 34.833g/t silver and 0.033g/t gold and 14.0 metres of 27.25g/t silver and 0.314g/t gold.
DDH-45 was drilled below DDH-44 at -65 degrees. The mineralization in this hole was extensively faulted, which limited the size of the zone. Drill hole DDH-45 intersected 4.0 metres of 122.375g/t silver and 0.183g/t gold as well as 2.0 metres of 89.5g/t silver and 0.16g/t gold, along with 3.0 metres of 65.33g/t silver and 0.273g/t gold. The fault does not extend to DDH-11, which is located below DDH-45.
The Company is pleased with the results of the 2011 diamond drilling program and is hopeful that they will add a significant number of silver and gold ounces to the resource base of the Santo Domingo Project. Diamond drilling continues to extend the strike extension and the downdip continuity of the mineralized zones.
Thomas Pratelli of the University of Exeter conducted a report detailing the mineralogy of the Santo Domingo Deposit. The description, paragenisis and characterisation of the deposits mineralogy is required as a preliminary step before metallurgical tests are conducted.
Diamond drilling on the project is planned to recommence as soon as financing has been obtained. Stroud also plans to conduct environmental and metallurgical studies on the project, and prepare an updated NI-43-101 report which is planned to lead to a preliminary economic assessment of the project later in 2012.
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Depth From Depth To Length Silver
Structure (m) (m) (m) (g/t) Gold (g/t)
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DDH 43
Section 5829N 116.80 123.00 6.2 22.483 0.07
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129.00 150.00 21 56.923 0.131
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Incl. 129.00 136.00 7 93.771 0.254
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166.00 179.00 13 38.846 0.358
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Incl. 168.00 175.00 7 51.285 0.467
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DDH 44
Section 5829N 158.00 164.00 6 34.833 0.033
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182.00 196.00 14 27.25 0.314
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DDH 45
Section 5829N 157.00 161.00 4 122.375 0.183
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172.00 174.00 2 89.5 0.16
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203.00 206.00 3 65.333 0.273
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The widths above are not true widths. True widths remain to be determined.
QA/QC
The drill core sampling program includes onsite supervision of sampling by Dr. Stew Fumerton. He has included insertion of random blanks and certified reference material. The drill core is sawed in half, with one half sent out for assay and the other half stored in Stroud’s secure facility. Gold was determined by Fire Assay with an AA finish whereas silver was determined by ICP after a four acid total digestion. About 20% of the samples have been checked by re-assaying using the more traditional Fire Assay gravimetric finish.
George Coburn, P.Geo., President and CEO of Stroud Resources Ltd., is a qualified person within the meaning of National Instrument 43-101, and has reviewed and approved all of the scientific and technical data contained in 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 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
[email protected]www.stroudresourcesltd.com
