17:36:22 EDT Wed 22 Sep 2021
Enter Symbol
or Name
USA
CA



Login ID:
Password:
Save
Strategic Metals Ltd
Symbol SMD
Shares Issued 106,805,967
Close 2021-04-06 C$ 0.47
Recent Sedar Documents

Strategic Metals options 70% interest in Hopper to Cavu

2021-04-06 14:36 ET - News Release

Mr. Douglas Eaton reports

STRATEGIC METALS LTD. OPTIONS HOPPER PROJECT, YUKON

Strategic Metals Ltd. has granted Cavu Mining Corp. the right to earn up to a 70-per-cent interest in the Hopper copper-gold project located in southwestern Yukon. The Hopper project encompasses a 74-square-kilometre area located 22 km north of the Otter Falls hydroelectric generator, within the traditional territory of the Champagne and Aishihik First Nation.

The road-accessible Hopper property hosts copper-gold, skarn and porphyry mineralization that is associated with a Late Cretaceous (76 plus or minus 1.1 and 83.7 plus or minus 1.9 million years) granodiorite pluton, informally named the Hopper pluton. The age of the Hopper pluton places it in the same metallogenic episode as the Patton porphyry, which is the mineralizing pluton at Western Copper and Gold Corp.'s Casino porphyry copper-gold-silver-molybdenum deposit located 190 km to the north-northwest. The Casino deposit contains 8.9 million ounces and 4.5 billion pounds in proven and probable ore reserves (mill reserves of 965.2 million tonnes grading 0.204 per cent copper, 0.24 gram per tonne gold and 0.0227 per cent molybdenum, and heap leach reserves of 157.4 million tonnes grading 0.036 per cent Cu and 0.292 g/t Au).

The mineralized hydrothermal system at Hopper is centred on a porphyry-style copper zone that is flanked by stacked skarn horizons. Results from the porphyry zone include 0.52 per cent copper over 45.72 m (trench) and 0.24 per cent copper over 39.62 metres (entire length of percussion drill hole) and 0.17 per cent copper over 162.85 m from a 2015 diamond drill hole. Results from stacked, laterally extensive skarn horizons have produced promising drill results including 1.94 per cent copper and 0.87 g/t gold over 18.59 m (true thickness approximately 12 m). Gold-rich skarns deeper in the stratigraphic section have assayed 43.6 g/t gold over one m (true thickness) and 12.15 g/t gold over 2.65 m (true thickness) from intersections 360 m apart.

Terms

Cavu can earn a 70-per-cent interest in the Hopper project by incurring expenditures totalling $5-million, paying Strategic a total of $700,000 cash and issuing Strategic a total of 250,000 shares, by March 31, 2025.

Technical information in this news release has been approved by Heather Burrell, PGeo, a geologist with Archer, Cathro & Associates (1981) Ltd. and qualified person for the purpose of National Instrument 43-101.

About Strategic Metals Ltd.

Strategic 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. The projects include more than 80 properties where precious metals are the major component, several promising copper prospects and a number of excellent critical metal targets. Projects available for option, joint venture or sale include drill-confirmed prospects and drill-ready targets with high-grade surface showings and/or geochemical anomalies and geophysical features that resemble those at nearby deposits.

Strategic has a current cash position of over $9-million and large shareholdings in a number of active mineral exploration companies including 38.9 per cent of GGL Resources Corp., 33.5 per cent of Rockhaven Resources Ltd., 19.2 per cent of Precipitate Gold Corp. and 18.7 per cent of Silver Range Resources Ltd. All of these companies are well financed and are engaged in promising exploration projects. Strategic also owns 21.9 per cent of Terra CO2 Technologies Holdings Inc., a private Delaware corporation that recently completed a $9.2-million (U.S.) financing to advance its environmentally friendly, cost-effective alternative to Portland cement. The current value of Strategic's stock portfolio is approximately $25-million.

We seek Safe Harbor.

© 2021 Canjex Publishing Ltd. All rights reserved.