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Mr. Yannis Tsitos, President and CEO of Stronghold Metals (OTCQX: SDMTF) called into SmallCapVoice.com to discuss recently reported further analytical results from Its drilling program at the Eagle Mountain Gold Project in Guyana. The Company is highly encouraged by ongoing drilling results and intends to continue its infill and step out drilling program in order to increase the confidence of the mineral resource and to further expand the known mineralized zone, success contingent on results. The Company’s primary focus has been the accelerated development of the advanced exploration stage Eagle Mountain Gold Project. The Project comprises an area of approximately 5,050 Ha (12,480 acres) in central Guyana, 200km southwest of the capital Georgetown and 45 kilometres from the historic Omai Gold Mine, which was in production from 1993 to 2005. The Company is pleased to announce that the on-going resource outline diamond drilling program at Eagle Mountain is progressing very well. To date, 73 drill holes totalling 10,338 metres have been completed in the current drilling program. Analytical results from 46 complete holes have been received from ACME Analytical Laboratories Ltd. to date and it is extremely encouraging that most holes have gold intersections of favourable grade that correspond well with historical data from the Project. In September 2010, Stronghold entered into an Earn-In and Joint Venture Agreement with a subsidiary of IAMGOLD Corporation, under which Stronghold has been granted the right to acquire in stages up to 95% interest in the Property. In November 2010, Stronghold filed an NI 43-101 reporting an Inferred Mineral Resources of 18Mt @ 1.27 g/t gold, containing 733,500 ounces of gold (using a 0.5 g/t Au cut-off grade). More than 250,000 ounces of the contained gold in this inferred mineral resource is hosted in oxide material (saprolite). The primary focus of the 2011 drilling program at Eagle Mountain has been to enhance the NI43-101 compliant mineral resource with both exploration drilling to extend the mineral resource zone and definition drilling to increase the resource within that previously defined zone. The 2011 diamond drilling program (comprising 15,000 meters of drilling) has the following three objectives:
- Expand the Inferred mineral resource by in-fill drilling and step-out drilling along and across strike in three directions.
- Confirm historic records of gold mineralised horizons by twinning older historic holes. With success, that gold mineralization can be brought into the current mineral resource estimate.
- Upgrade the Inferred mineral resources to Indicated mineral resources with closely spaced in-fill drilling.