Strategic Metals Announces More 2019 Surface Exploration Highlights
STRATEGIC METALS ANNOUNCES MORE 2019 SURFACE EXPLORATION HIGHLIGHTS
Vancouver, B.C. – December 11, 2019 – Strategic Metals Ltd. (“Strategic” or the “Company”) (TSX -V:
SMD) is pleased to announce further results from surface work completed during its 2019 exploration
programs. Work in 2019 included 2,774 m of diamond drilling on three properties: Meloy, Sixty Mile
and Hartless Joe. Some drill assays are still pending, and a further news release will be issued once all
assays are received and interpreted . High -grade gold discoveries from Strategic’s 2019 program at the
Mount Hinton project were previously reported (see news releases dated August 21, 2019 ; September 9,
2019; and November 18, 2019).
In 2019, the Company performed surface exploration at a number of projects, designed to advance targets
to a drill-ready stage. Highlights from this surface work are summarized below.
LiDAR surveying at the Kluane project, in southwestern Yukon, highlighted previously unrecognized
structural features – some of which coincide with strong gold -in-soil geochemical anomalies,
electromagnetic conductors and gold-rich talus. Grid soil sampling in the southern part of the property
has identified elevated gold -in-soil geochemistry over an area of approximately 5.7 km by 4.5 km .
Widely spaced sampling in the northern part of the property has also yielded a nomalous values. Rock
samples containing arsenopyrite and/or native gold, and have yielded many assays between 10 and 225
g/t gold . The 2019 LiDAR survey identified a large array of north -northeast trending structures,
including a 2.7 km long lineament that crosses two important gold occurrences – the DalBianco Showing
and the Rikus Zone. The only drilling on the property to date was done at the Rikus Zone i n 1995 when
eight, small diameter diamond drill holes were completed within part of a much larger target. Despite
poor core recovery , all drill holes yielded gold values of significance, including 5.32 g/t gold over 2.75
m. The drilling was performed oblique to the newly identified lineament. (see Figure 1)
The Alotta project is located in western Yukon and covers a broad area of strongly elevated gold, copper
and molybdenum soil geochemistry, which is centered on a pronounced ‘bulls -eye’ magnetic anomaly
characteristic of a porphyry deposit. The property lies below treeline in an area that has not been
glaciated. Because there is little outcrop or talus, rock samples were collected from shallow pits. Most of
these samples were oxidized and probably leached , and comprised strongly altered and brecciated
monzonite porphyry. Oxidized samples graded between 134 and 397 ppb gold, and one sulphide bearing
sample graded 1.21 g/t gold and 0.44% copper. Historical soil sampling identified a 1200 m diameter
area of elevated gold (20 to 2680 ppb ), copper (100 to 459 ppm) , and molybdenum (5 to 54.3 ppm) .
Soil sampling in 2019 doubled the dimensions of the geochemical anomaly, to an area 2.3 km long by 1.2
km wide. The project lies within a highly prospective belt of rocks known to host numerous porphyry
and epithermal vein deposits, including Western Copper and Gold Corporation’s Casino deposit,
Rockhaven Resources Ltd.’s Klaza deposit and Triumph Gold Corp.’s Nucleus, Revenue and Tinta Hill
deposits. Alotta has never been drilled or explored with mechanized equipment. (see Figure 2)
Prospecting at the Vault project, in southwestern Yukon, resulted in further discoveries of gold -rich
quartz veins, stockworks and breccias . The property covers extremely anomalous gold soil geochemistry
(0.1 g/t to ≥ 10 g/t) in the headwaters of two productive placer creeks. In 2019, chip sampling across a
newly discovered quartz vein returned 15.95 g/t gold over 0.70 m . Three outcrop sam ples collected 2.2
km to the southwest, from a 70 m diameter area hosting a network of brecciated quartz veins, yielded an
average grade of 4.13 g/t gold . Vault is highly prospective for orogenic gold mineralization, covering
greenschist facies rocks alon g the same regional -scale fault system that hosts the Juneau Gold Belt in
Alaska. Despite its close proximity to a paved highway, the project has never been drilled. (see Figure 3)
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Work at the road -accessible Groundhog project, in south -central Yukon, re sulted in a significant
discovery of gold -rich talus. Sixteen mineralized showings have been identified on the property to date,
along a 6 km long belt of elevated silver -lead±zinc±copper±gold geochemistry. Historical exploration
programs have yielded ro ck samples that returned assays of up to 13,028 g/t silver, 85% lead, 4.46%
zinc and 3.73% copper, but did not evaluate the gold potential of the project. This is surprising,
considering that Groundhog falls within a belt of high-grade gold occurrences, including the former Ketza
Mine, located 30 km to the east. In 2019, cursory prospecting, in an area of elevated gold -in-soil
geochemistry, lead to the discovery of oxidized breccia that assayed 5.91 g/t gold. Ketza River is
interpreted to be a Carbonate Replacement Deposit (CRD), formed by the interaction of metal -bearing
fluids, originating from a buried intrusion, with carbonate rocks. Previous exploration on the Groundhog
property focused on the discovery and development of high -grade galena veins for direct shipment of
silver-lead-zinc ore. The potential for a CRD -type gold deposit has never previously been considered.
(see Figure 4)
The 2019 exploration programs were conducted by Archer, Cathro & Associates (1981) Limited ("Archer
Cathro"). Technical information in this news release has been approved by Jack Morton, P. Geo., a senior
geologist with Archer Cathro and a 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 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, geochemical anomalies and geophysical features that resemble those at
nearby deposits.
Strategic has a strong cash position and large shareholdings in a number of active mineral exploration
companies including 43.17% of GGL Resources Corp., 36.28% of Rockhaven Resources Ltd., 24.3% of
Precipitate Gold Corp., 17.7% of Silver Range Resources Ltd., 8.7% Trifecta Gold Ltd., and 6.4% of
ATAC Resources Ltd.
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
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.
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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 exploration and other risk factors
beyond its control, and actual results may differ materially from the expected results.
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