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Strategic Metals Ltd
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Close 2019-05-09 C$ 0.29
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Strategic Metals outlines summer 2019 drilling plans

2019-05-09 12:30 ET - News Release

Mr. Douglas Eaton reports


Strategic Metals Ltd. has outlined its exploration plan for summer 2019. The plan includes diamond drilling at three projects and surface work on several others, which is designed to advance those projects to drill readiness. The announced plan represents phase 1 of a larger program that is expected to continue into the fall, dependent upon phase 1 results and market conditions.

Diamond drilling is scheduled to start in late June at the Meloy, Sixty Mile and Hartless Joe properties, as described herein and at the company's website.

The Meloy property is located 45 kilometres northwest of Alaska Highway and 15 kilometres northeast of the Gladstone Creek placer gold district, southwestern Yukon. The main exploration target is a porphyry copper-silver-gold-molybdenum system that is marked by an intense multielement geochemical anomaly. Deep holes will test beneath surface oxidization across the core of the geochemical anomaly.

The Sixty Mile property lies within the second-largest placer gold district in the Yukon. It is road accessible and located 70 kilometres west of Dawson City. The property covers a 20-kilometre strike length of a major fault, which localized magmatism and mineralization in the district. Strategic's 2019 drilling will test around an epithermal vein intersected in an isolated 2011 hole, which graded 132.9 grams per tonne gold over 1.5 metres. Drilling will also test an area with very low resistivity and coincident copper-molybdenum-gold-silver soil geochemistry, which was identified after the last drill program was conducted.

The Hartless Joe property is located 22 kilometres east of Whitehorse, Yukon. It hosts numerous high-grade gold-plus-or-minus-silver showings associated with steeply dipping epithermal veins and subhorizontal quartz zones that may be exhalite horizons. The showings span a six-kilometre-by-3.5-kilometre area that remains open to new discoveries. The proposed holes will test beneath mineralization in hand trenches and talus trains, as well as across a chargeability high that coincides with a broad, strong soil geochemical anomaly.

"The 2019 drilling is expected to confirm the potential of these prospects and provide valuable insights that will guide future drilling," commented Doug Eaton, Strategic's president and chief executive officer. "The surface exploration at other projects will be done concurrently and is important because it will better define the targets, reducing risks prior to drilling. Strategic is focusing on projects that are camp scale and have potential for multimillion-ounce-gold discoveries."

About Strategic Metals Ltd.

Strategic Metals is a project generator with a portfolio of more than 130 projects, which is the product of over 50 years of focused exploration and research by a team with a record of major discoveries. Projects available for option, joint venture or sale include drill-confirmed prospects and drill-ready targets with high-grade surface showings, geochemical anomalies and geophysical features that resemble those at nearby deposits.

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