Strategic Metals Ltd to Drill the Mint Porphyry Copper Project, Southwest Yukon
Strategic Metals Ltd to Drill the Mint Porphyry Copper Project, Southwest Yukon
Vancouver, B.C. – June 14, 2023 – Strategic Metals Ltd. (“Strategic” or the “Company”) is pleased
to announce that drilling is about to commence at its wholly owned Mint porphyry copper-gold
project, located in southwestern Yukon Territory. The two-hole, 1,000 metre program is designed
to test the copper-rich Upper Canyon Zone identified in 2021.
Mint Project
The Mint project is a 50 sq km property located 26 km south of the Alaska Highway. It is one of
the youngest porphyry systems in Canada and is hosted within Oligocene-age granodiorite and
porphyry dykes with alteration and mineralization permeating into a nearly coeval, overlying
basalt unit.
Work programs conducted by the Company since 2010 have outlined promising geochemical and
geophysical features that are centered on a zone of hydrothermal alteration, marked by a prominent
gossan. Soil geochemistry has returned strong copper, gold and molybdenum values within an
area about 2000 m in diameter. A prominent magnetic high that underlies the southern part of the
geochemically anomalous area is flanked to the north by a zone with elevated potassium
radiometrics. In 2012, six relatively short, diamond drill holes tested in and around magnetic and
chargeability highs. Most of these holes intersected strongly fractured, phyllic altered rocks that
returned moderately to strongly e nriched gold values but only weak ly elevated copper and
molybdenum values. The best r esults were from the most northerly hole (M12-03), which
averaged 0.204 g/t gold over its entire 33 1 m length, including a 53 m interval grading 0.556 g/t
gold near the bottom of the hole. This hole lies just north of the magneti c high, in the southern
part of the potassium radiometric anomaly.
In 2021 , detailed mapping and prospecting discovered a 300 m diameter area containing well
mineralized, stockwork and sheeted quartz veining , ab out 800 m north of hole M12-03. This
target, the Upper Canyon Zone, lies within the potassium radiometric high and shows moderate to
weak magnetic response. Rock samples collected in 2021 from the northern target contained much
more copper and molybdenum than those collected elsewhere in the Mint porphyry system and
returned strongly elevated results , including peak values of 2.3% copper, 1.365 g/t gold, 32 g/t
silver and 0.337 % molybdenum.
The 2023 drill holes will test beneath the mineralization exposed at the Upper Canyon Zone and
extend deeper into what is believed to be the core of the system. Given the young age of the
porphyry mineralization and the shallow level of erosion, which is indicated by the presence of
basaltic volcanic flows that are nearly coeval with the mineralizing intrusions, most of the
porphyry system is expected to be blind to surface.
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 12 royalty interests, 18 projects under option to others, and a
portfolio of more than 80 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 approximately $3 million and large shareholdings in several
active mineral explora tion companies including 32.8% of Broden Mining Ltd., 34.5% of GGL
Resources Corp., 29.6% of Rockhaven Resources Ltd., 19.6% of Honey Badger Silver Inc., 17.2%
of Silver Range Resources Ltd, and 15.7% of Precipitate Gold Corp. 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 e nvironmentally friendly, cost -
effective alternative to Portland cement.
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
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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
exploration and other risk factors beyond its control, and actual results may differ materially
from the expected results.