Strategic Metals completes drill program at its Mt Hinton gold and silver project, Yukon
Strategic Metals completes drill program at its Mt Hinton gold and silver project, Yukon
Vancouver, BC – October 1, 2020 – Strategic Metals Ltd. (TSX -V: SMD) (“Strategic” or the
“Company”) is pleased to announce the successful conclusion of its 2020 drill program at its
wholly-owned Mt Hinton gold/silver project. A total of 6 ,978 m of diamond drilling was
completed in 32 holes, all with HQ diameter core.
Mt Hinton is a road accessible project located in the Keno Hill District of the Tintina Gold Belt,
in central Yukon. The property lies immediately southeast of silver/lead mines on Alexco
Resources’ Keno Hill propert y, which are expected to resume production before the end of the
year, and 35 km southeast of Victoria Gold’s Eagle Mine, which was commissioned in June,
2020 (see Figure 1).
The drill program tested parts of three zones within a 6 by 4.5 km area of known mineralization
and gold -rich soil geochemistry (see Figure 2 ). The targets in all three zones were vein
complexes cutting a west dipping stratigraphic section comprising thick quartzite beds
interlayered with lesser phyllite horizons and gabbro sills. Th ese are the same units that host the
mineralized veins on the adjacent Keno Hill property.
The majority of the holes were drilled on a series of section lines across the Granite North Zone
(see Figure 3 ) where surface sampling returned numerous high assays , including a rock sample
that graded 2 ,340 g/t gold and a chip sample of 26.9 g/t over 1.2 m. The section lines cross a
number of sub -parallel, 5 to 25 m wide vein/breccia/alteration bands that were mapped in talus
and outcrop within the up to 400 m wide zone. Collectively the section lines tested a 425 m
strike length along the zone. All of the holes intersected abundant quartz veining of differing
types. Many of the veins are limonite stained and contain vuggy cavities. Some veins host
residual sulphide minerals, and native gold was observed in a few of them.
Five holes were dril led at the Southwest Zone where a chip sample containing visible gold
assayed 200 g/t gold over 1.2 m. All five holes intersected strong structures containing quartz
veining. Some of the quartz veins host arsenopyrite but most are oxidized. The holes spanned a
330 m strike length along this 1 ,750 m long zone ( see Figure 4 ). On average the holes
intersected the zone about 100 m down dip of surface.
Three holes target ed veins in the Northern Structural Corridor. All three holes intersected
mineralized veins but all were terminated for various reasons short of their ultimate target depth.
The Northern Structural Corridor is a 4 km long, up to 750 m wide zone that was the main focus
of earlier work on the Mt Hinton property. It contains numerous gold and silver rich veins,
where historical chip samples assayed more than 10 g/t gold over widths of 1.0 to 2.1 m.
2
Assay results of core samples from the drill holes have bee n severely delayed by overloading at
the analytical laboratory. Problems related to COVID safety protocols have been compounded
by a rapid up -tick in drill activity world -wide. Mt Hinton core processing has been further
delayed by the very rigorous sampl ing, sample preparation and analytical techniques being used
to ensure that the results are as reliable as possible given the presence of coarse gold in some
veins. To date, assay results are only available for one complete hole and two partial holes.
These results are still subject to compilation and QAQC review. Ideally, the first news release
will be made in about two weeks and will comprise holes spanning the entire width of the first
section line across the Granite North Zone. A comprehensive secti on should provide a better
idea of the distribution and character of the mineralization. The drilling and sampling programs
are designed to evaluate potential for both bulk-tonnage and discrete vein targets.
Technical information in this news release has been approved by Matthew R. Dumala, P.Eng., a
geological engineer 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 a portfo lio 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. Current projects include more than 80 properties where precious metals are a major
component. 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 current cash position of over $ 9 million and large shareholdings in a number of
active mineral exploration companies including 46.3% of GGL Resources Corp., 36.3% of
Rockhaven Resources Ltd., 19. 6% of Precipitate Gold Corp., 18.7% of Silver Range Resources
Ltd., and 9 .9% of Trifecta Gold Ltd . Strategic also holds a 53.5% interest in Terra CO2
Technologies Holdings, Inc. a private Delaware corporation which is developing an
environmentally-friendly, cost-effective alternative to Portland cement.
ON BEHALF OF THE BOARD
"W. Douglas Eaton"
President and Chief Executive Officer
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
3
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 judgm ents 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.
Figure 1
4
5