Strategic Metals adds Craig silver-lead-zinc deposit to its Crag & Rod Projects, east- central Yukon
Strategic Metals adds Craig silver-lead-zinc deposit to its Crag & Rod Projects, east-
central Yukon
Vancouver, B.C. – March 17, 2022 – Strategic Metals Ltd. (TSX -V: SMD) ("Strategic”) is pleased to
announce that is has acquired through staking the Craig silver-lead-zinc deposit, located between its wholly
owned Crag and Rod projects in east-central Yukon. The Crag and Rod projec ts are situated in the Craig
Belt, a subset of the 175 km long Rackla Belt, which is known for its high-grade silver-lead-zinc and gold
deposits.
“The Craig Deposit is a key asset with a historical, inferred mineral resource estimate of 874,980 tonnes
grading 123.4 g/t silver, 8.5% lead and 13.5% zinc*” states Doug Eaton, Strategic’s President and CEO.
“There is excellent potential to expand this historical resource and to outline new deposits within the highly
prospective but under-explored Craig Belt, which Strategic has now fully consolidated.”
*Resources were estimated by Falconbridge Limited in the mid-1990’s before the implementation of NI43-
101, and therefore considered historical in nature. A qualified person has not done sufficient work to
classify the historical estimate as current minera l resources or reserves and the issuer is not treating the
historical estimate as current mineral resources or reserves.
The Craig Deposit is situated approximately 145 km northeast of Mayo (Figure 1) and 10 km south of the
Rackla Airstrip, a primary staging point for exploration programs in the Rackla Belt. Combined, the Crag
and Rod projects comprise 1569 contiguous mineral claims, encompassing 31,200 hectares (312 km2). The
claims cover numerous MVT-type and vein-hosted silver-lead-zinc occurrences and areas with Carlin-type
pathfinder mineralization and alteration. The claims are located within the traditional territory of the Na -
Cho Nyak Dun First Nation.
Mineralization in the Craig area was first discovered in 1976 and, during the next few years, surface
exploration and shallow diamond drilling identified a mineralized trend known as the Craig Belt, which
includes six highly prospective silver-lead-zinc±copper occurrences: the Craig Deposit and Discovery,
Trent, Azure, Nadaleen and Scott zones. Most of the mineralization in the Craig Belt is hosted within a
southeast-trending unit of dolostone and lesser limestone belonging to the Algae Lake Formation, which
can be traced along surface for over 6000 m and is up to 300 m wide (Figure 2). This u nit is informally
referred to as the Craig Carbonate Horizon.
Strategic staked its first Rod claims in 2008 to cover high -grade silver-lead-zinc veins, and in 2010 it
expanded the Rod property and staked the Crag claims as part of a major staking rush th at followed the
discovery of Carlin-type gold mineralization in the Rackla Belt. During this staking rush, Strategic acquired
most of the Craig Belt, but a few claims covering the Craig Deposit were still held by a major mining
company. When those claims expired in late 2021 , the Craig Deposit was immediately re -staked by
Strategic.
Past work by Strategic in the Craig Belt mainly focused on the Trent Zone, where Carlin -type pathfinder
minerals and alteration occur in the hanging wall of the silver-lead-zinc zone. Several diamond drill holes
completed by Strategic Metals in 2011 and 2012, which were designed to test the Carlin-type targets, also
intersect significant MVT-type silver-lead-zinc mineralization (Figures 3 and 4).
At the Craig Deposit, di amond drill programs performed between 1977 and 1980 resulted in an inferred,
historical mineral resource estimate of 874,980 tonnes averaging 123.4 g/t silver, 8.5% lead and 13.5%
zinc*. Since staking the claims covering the Craig Deposit, Strategic has completed 3 -D geological
modeling of the Craig Deposit and Trent Zone (Figures 4 and 5). This modelling suggests that both areas
of mineralization are open to expansion, along strike and to depth.
*Resources were estimated by Falconbridge Limited in the mid-1990’s before the implementation of NI43-
101, and therefore considered historical in nature. A qualified person has not done sufficient work to
classify the historical estimate as current mineral resources or reserves and the issuer is not treating th e
historical estimate as current mineral resources or reserves.
Only limited drilling was done at the Discovery and Nadaleen zones, which returned highly encouraging
results, and the Azure Zone has not yet been drilled.
Highlight results from historical drill holes at the Craig Deposit and Discovery, Nadaleen and Trent zones
are tabulated below.
Zone Drill Hole Interval (m) Length (m) Ag (g/t) Pb (%) Zn (%) AgEQ (g/t)1
Craig
C77-1 46 - 48.7 2.7 89 12 10 895
and 59.2 - 64.3 5.1 49.8 6.3 13 835
C77-3 76 - 77.9 1.9 16.3 0.9 22 1069
including 82 - 87.8 5.8 100 10.3 19.5 1301
including 85 - 87 2 249 25.1 35 2592
C77-4 26.8 - 62.9 36.1 38 4.3 13.5 790
including 38.6 - 42.7 4.1 96 13.9 26.4 1721
C77-5 29 - 46.5 17.5 203.9 13.4 14.8 1273
C77-6 33.5 - 56.2 22.7 101 12.3 8 822
including 48.8 - 50.6 1.8 51.9 11.8 21.1 1370
and including 52.6 - 56.2 3.6 241 28.7 16.9 1840
C77-7 195.1 - 196.9 1.8 6.8 0.59 5.83 296
C77-9 65.5 - 68.6 3.1 46 2.4 23.8 1225
and 73.2 - 74.7 1.5 19.8 1.7 9 488
and 102.4 - 103 0.6 94.7 2.8 13 781
C77-11 131.7 - 135.3 3.6 75 2.1 35.4 1787
C77-15 49.7 - 67.8 18.1 51.8 5.4 20.3 1152
including 49.7 - 53.8 4.1 49.7 4.9 38.8 2000
and including 63.3 - 67.8 4.5 57.6 4.5 31.9 1674
C77-18 47.2 - 57.9 10.7 16 2 4.9 301
C77-24 80.8 - 82.9 2.1 49.9 3.6 15.5 875
Discovery
C77-19 29.6 - 35.7 6.1 27 1.5 22.2 1106
and 53.3 - 54.7 1.4 14 0.2 24.2 1150
C77-23 25.0 - 29.6 4.6 54 6.2 11.2 752
C77-27 28.0 - 31.4 3.4 63 6.0 8.8 643
C77-29 31.4 - 32.9 1.5 17 1.3 8.5 451
and 39.9 - 41.4 1.5 77 6.7 8.2 649
and 54.6 - 56.1 1.5 6.9 0.5 11.5 558
Nadaleen CSN-4 149.7 - 151.2 1.5 3.4 0.75 5.25 270
Trent
C77-12 64.9 - 68.3 3.4 4.1 0.3 10.5 503
and 101.5 - 102.7 1.22 23 2.5 28.2 1410
C77-17 4.6 - 8.8 4.26 48 4.30 24.1 1295
and 32.0 - 33.2 1.2 2.4 0.2 8.5 405
and 46.3 - 53.0 6.7 12 1.6 20.3 1005
CST-2 144.8 - 146.3 1.5 14 0.87 7.75 400
and 152.1 - 153.6 1.5 21 0.70 17.4 853
C11-01 33.0 - 120.39 87.39 6.76 0.49 4.06 210
including 35.51 - 40.59 5.08 76.5 5.24 30.65 1656
C11-02 112.78 – 118.87 6.09 17.8 2.02 4.84 301
C11-03 109.73 – 112.78 3.05 25.7 3.28 5.74 387
C11-05 280.38 – 282.72 2.34 152 1.27 9.88 649
C11-09 259.41 – 260.00 0.59 54.2 5.44 18.5 1072
C12-18 134.51 – 136.25 1.74 22.9 2.45 21.6 1101
Sample Intervals are based on measured drill intercept lengths, true thickness is unknown
1 Silver equivalent (AgEQ) values assume $25.26/oz silver, $1.04/lb lead, $1.72/lb zinc, and 100% metallurgical recovery
Mineralization in the five zones in the eastern part of the Craig Belt is principally controlled by silicified
breccia structures, which appear to be related to solution collapse and karst development. Sphalerite and
galena are the major sulphides present, while pyrite and tetrahedrite occur in minor amounts. Sulphides
occur as disseminations, erratic replacements of dolomite, pore fillings in dolomite, vein fillings of fractures
and faults, and matrix filling of breccias. Smithsonite and hydrozincite are common in outcrop. Surface
sampling completed by Strategic at the Trent, Azure, Discovery and Nadaleen zones has returned peak
values of 283 g/t silver, 53.3% lead, 27.4% zinc and 4.7% copper (Figure 6).
Little is known about the Scott Zone in the western part of the belt. It is a galena-rich vein and is separated
from the other zones by a large thrust fault. Although it lies directl y along trend of the Craig Belt, it may
be related to similar silver-lead veins located about 5 km to the west on the Rod property.
Technical information in this news release has been approved by Heather Burrell, P.Geo., a senior geologist
with Archer, Cathro & Associates (1981) Limited and qualified person for the purpose of National
Instrument 43-101.
About Strategic Metals Ltd.
Strategic is a project generator with 11 royalty interests, 8 projects under option to others, and a portfolio
of more than 100 wholly owned projects that are the product of over 50 years of focussed exploration and
research by a team with a track 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 and/or
geochemical anomalies and geophysical features that resemble those at nearby deposits.
Strategic has a current cash position of $ 7 million and large shareholdings in several active mineral
exploration companies including 36% of Broden Mining Ltd., 38.9% of GGL Resources Corp., 33.5% of
Rockhaven Resources Ltd., 19.6% of Honey Badger Silver Inc., 15.7% of Precipitate Gold Corp. and 18.0%
of Silver Range Resources Ltd. All these companies are well funded and are engaged in promising
exploration projects. Strategic also owns 15 million shares and 5 million warrants of Terra CO2
Technologies Holdings Inc., a private Delaware corporation which recently completed another large
financing to advance its environmentally friendly, cost-effective alternative to Portland cement. The current
value of Strategic's stock portfolio is approximately $30 million.
ON BEHALF OF THE BOARD
“W. Douglas Eaton”
President and Chief Executive Officer
For further information concerning Strategic or its various exploration projects please visit our website at
www.strategicmetalsltd.com or contact:
Corporate Information
Strategic Metals Ltd.
W. Douglas Eaton
President and C.E.O.
Tel: (604) 688-2568
Investor Inquiries
Richard Drechsler
V.P. Communications
Tel: (604) 687-2522
NA Toll-Free: (888) 688-2522
http://www.strategicmetalsltd.com
Neither the 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.
This news release may contain forward looking statements based on assumptions and judgments of
management regarding future events or results that may prove to be inaccurate as a result of explor ation
and other risk factors beyond its control, and actual results may differ materially from the expected results.