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Strategic samples up to 48.5 g/t Au at Mount Hinton

2019-09-09 10:42 ET - News Release

Mr. Douglas Eaton reports


Strategic Metals Ltd. has released results from phase 2 of its 2019 exploration program at the Mount Hinton property, where phase 1 rock samples returned up to 2,340 grams per tonne gold (see news release dated Aug. 21, 2019). Mount Hinton is located in the southern portion of the Keno Hill district of central Yukon, about four to 15 kilometres by road southeast of Alexco Resource Corp.'s mill at Keno City. It is 100 per cent owned by Strategic Metals.

The continuing, multiphase program is focused on the Granite Creek basin, which forms the headwaters of a productive placer creek. Visible gold was identified during phase 2; however, samples containing visible gold were not sent for analysis.

Highlights from phase 2 rock sampling include:

  • The discovery of new mineralized quartz veins on the western side of Granite Creek, including:
    • A one-to-two-metre-wide vein, intermittently exposed along a 75-metre strike length, where four widely spaced rock samples returned: 28.5 grams per tonne gold; 23.5 grams per tonne gold with 1,720 grams per tonne silver; 11.6 grams per tonne gold; and 4.44 grams per tonne gold.
    • Another outcropping vein, found within a fault zone, graded 12.6 grams per tonne gold and 2,100 grams per tonne silver.
    • A second exposure within the same vein fault was located 50 m along strike, where chip sampling returned 30.5 grams per tonne gold and 53.1 grams per tonne silver over 1.2 m; a grab sample assayed 48.5 grams per tonne gold and 74 grams per tonne silver.
    • A third, 50-centimetre-wide vein in outcrop, which is covered by talus along strike in both directions, assayed 46.9 grams per tonne gold and 446 grams per tonne silver.
  • The discovery of more veins on the eastern side of the Granite Creek basin, including:
    • A one-metre-wide, northeast-striking and steeply dipping vein, where a chip sample yielded 4.59 grams per tonne gold over one m and a rock sample assayed 11.15 grams per tonne gold;
    • A rock sample from a vein outcrop, which is likely the source of the northeasterly striking zone of quartz float reported previously, returned 12.7 grams per tonne gold and 710 grams per tonne silver.
  • Follow-up prospecting within the float train of vein quartz and breccia that produced the 2,340 g/t gold sample resulted in the discovery of native gold at that site and the collection of a rock sample, which yielded 202 grams per tonne gold and 2,020 grams per tonne silver, about 120 metres along strike to the northeast.

Phase 3 of the 2019 program is under way, with equipment on site. This phase of the program will include a property-wide lidar (light detection and ranging) survey, road construction and mechanized trenching across areas with high gold values in rock and soil. Geological mapping and prospecting will continue during phase 3, focusing on the structural controls of newly discovered veins.

Analytical work was done by ALS Minerals, with sample preparation in Whitehorse, Yukon, and assays and geochemical analyses in North Vancouver, B.C. All rock samples were analyzed for gold by fire assay fusion and inductively coupled plasma/atomic emission spectrometry (Au-ICP21), and 51 other elements by aqua regia digestion and inductively coupled plasma/atomic emission spectroscopy (ME-MS41). Overlimit values were determined for silver, lead and zinc by aqua regia digestion and inductively coupled plasma/atomic emission spectroscopy (Ag-OG46, Pb-OG46 and Zn-OG46). For gold assays with values greater than 10 grams per tonne and silver values greater than 1,500 grams per tonne, the samples were reanalyzed using fire assay with a gravimetric finish (Au-GRA21 and Ag-GRA21).

The 2019 field program on the Mount Hinton property was managed by Archer, Cathro & Associates (1981) Ltd. The technical information in this news release has been approved by Jack Morton, PGeo, a senior geologist at Archer, Cathro & Associates, a qualified person for the purpose of National Instrument 43-101.

About Strategic Metals Ltd.

Strategic Metals is a project generator with a portfolio of more than 130 projects that are 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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