Strategic Metals Regains 100% Interest in the Hopper Copper-Gold Project and Converts NAD Property to NSR Royalty
Strategic Metals Regains 100% Interest in the Hopper Copper-Gold Project and Converts
NAD Property to NSR Royalty
• Significant porphyry copper mineralization over a 2.3 km by 650 m area is largely
untested by drilling; gold-enriched skarn mineralization remains open along strike
and down-dip in multiple horizons
• 2022 drill results of 1.87% copper and 1.04 g/t gold over 15.27 m from the Copper
Castle skarn target and 0.22% copper over 114.38 m from the Hopkins North
porphyry target
• Road-accessible and permitted for a large drill program; the Hopper Project lies 22
km north of the Otter Falls hydroelectric generator and only 320 km from the deep
sea port of Haines, Alaska
Vancouver, B.C. – May 16, 2024 – Strategic Metals Ltd. (TSX-V: SMD) (“Strategic”) reports that
it has terminated the Option Agreement (the “Agreement”) on the Hopper copper -gold project
(“Hopper” or the “Project”) with Alpha Copper Corp. (CSE:ALCU). Upon termination, Strategic
regains full ownership of the Project, without any underlying royalty interest.
The Project consists of 365 mineral claims covering a 74 km 2 area in southern Yukon, within the
Traditional Territory of the Champagne and Aishihik First Nations. Exploration targets at Hopper,
which covers a copper-gold porphyry and skarn system, are fully permitted and accessible via a
network of roads and trails.
Hopper Highlights
Hopper lies within the Dawson Range Gold Belt, a metallogenic province that hosts several major
deposits, including Western Copper and Gold Corporation’s Casino porphyry copper-gold deposit,
located 190 km to the north-northwest (Figure 1). Mineral occurrences on the property , which
collectively make up the Hopkins North porphyry target and the Copper Castle skarn target, are
associated with a 4 by 6 km intrusion referred to as the Hopper Pluton (Figure 2). Dating of the
pluton has yielded a Late Cretaceous age that is consistent with most mineralization along the belt,
including the Casino deposit.
The Copper Castle target co vers at least 10 , stacked skarn horizons that are partially delineated
along a 1,200 m strike length south of the Hopper Pluton. The mineralized horizon are layered
throughout a known vertical section approximately 425 m thick. The skarns have been only
partially delineated by trenching, percussion and diamond drilling, soil geochemistry and
geophysical surveying, and remains open down dip and along strik e to the south . Recent drill
results from the Copper Castle target include 1.41% copper and 0.532 g/t gold over 22.28 m
from HOP21-01 and 1.87% copper and 1.04 g/t gold over 15.27 m from HOP22-03. Additional
drill highlights from the Copper Castle target are tabulated below.
Drill Hole From
(m) To (m) Interval*
(m)
Cu Au Ag Mo
(%) (g/t) (g/t) (ppm)
DDH-11-01 2.95 16.65 13.70 0.41 0.25 3.8 9
including 9.69 12.02 2.33 1.24 0.87 13.0 2
and 125.67 142.60 16.93 0.22 1.76 1.8 1
including 125.67 133.17 7.50 0.43 3.35 3.6 1
DDH-11-03 58.28 66.78 8.50 1.62 0.54 9.3 1
and 88.28 90.70 2.42 1.87 0.64 17.7 2
and 130.00 132.45 2.45 0.72 0.18 6.8 3
DDH-11-04 57.39 62.53 5.15 0.95 0.84 5.6 2
and 174.86 182.87 8.01 1.58 0.84 14.8 43
DDH-15-01 90.59 92.26 1.67 0.57 0.12 4.4 0
and 284.29 286.94 2.65 0.95 12.2
5
5.5 3
DDH-15-02 82.07 91.09 9.02 0.24 0.12 1.6 32
and 113.13 128.14 15.01 0.50 0.50 1.6 4
including 121.70 128.14 6.44 1.00 1.01 3.9 4
and 136.60 138.60 2.00 0.70 0.14 4.4 2
and 150.85 151.85 1.00 0.45 1.00 2.1 6
and 204.90 205.90 1.00 0.79 0.72 4.2 4
DDH-15-04 39.09 52.10 13.01 0.41 0.33 1.7 7
and 196.97 211.40 14.43 0.60 1.11 2.9 184
including 202.52 207.44 4.48 1.03 2.40 4.0 253
DDH-15-08° 336.66 337.66 1.00 0.06 43.6
0
1.1 53
and 341.49 342.63 1.14 0.31 0.20 1.9 45
HOP21-01 38.60 40.75 2.15 0.38 0.14 3.4 1
and 55.44 77.72 22.28 1.41 0.53 11.7 2
including 62.00 66.72 4.72 5.34 1.44 45.7 7
HOP21-03 77.00 87.96 10.96 1.37 0.49 9.6 2
including 83.95 87.96 4.01 2.72 1.01 20.1 4
HOP22-02 69.26 70.42 1.16 0.37 0.10 3.7 7
and 99.40 100.69 1.29 1.27 0.71 9.9 3
and 107.02 123.54 16.52 0.80 0.49 6.7 77
including 109.46 114.62 5.16 1.86 0.83 11.4 102
and 117.37 123.54 6.17 1.04 0.56 7.4 116
and 137.70 141.70 4.00 0.24 0.12 2.9 251
HOP22-03 62.23 77.50 15.27 1.87 1.04 13.8 92
including 63.85 70.00 6.15 3.93 2.20 28.8 71
and 113.01 114.74 1.73 0.72 0.35 5.9 28
and 166.81 168.00 1.19 0.96 0.22 8.4 4
and 216.98 222.50 5.52 0.24 0.09 1.7 1,392
and 234.65 237.18 2.53 0.37 0.14 2.2 7
*Interval represents the downhole intersection length; true widths are estimated to represent 70%
to 100% of the interval, depending on the orientation of each hole
°Re-entered and deepened hole DDH-11-05
The Hopkins North target covers porphyry-type copper-gold mineralization identified within a 650
by 2,300 m area, which is associated with late phases of the Hopper Pluton. Much of this
prospective area is heavily vegetated and blanketed by various depths of overburden, and the target
is largely untested . Historical chip sampling from trenches at the porphyry target reportedly
yielded 0.24% over 45.72 m 1. In 2011, a program of very short, widely spaced, vertical reverse -
circulation drilling was performed over the overburden covered plateau . Notably, several of the
holes bottomed in copper mineralization. In 2015, a single diamond drill hole tested Hopkins North
and returned a weighted average grade of 0.17% copper over 162.85 m . A follow -up hole in
2021, collared 320 m to the southeast, yielded 0.22% copper over 114.38 m from surface
(HOP21-06). A third hole, HOP22-07, directed at the same target, returned an intercept of 0.12%
copper over 214 m. Additional drill highlights from the Hopkins North target are tabulated below.
Drill Hole From
(m)
To
(m)
Interval*
(m)
Cu Au Ag Mo
(%) (g/t) (g/t) (ppm)
PDH-11-19 19.81 28.96 9.15 0.36 0.01 2.3 N/A
PDH-11-23 42.67 44.19 1.52 0.33 0.01 0.7 N/A
PDH-11-39 0.00 EOH 39.62 0.24 0.06 1.4 N/A
including 28.96 EOH 10.67 0.70 0.20 4.1 N/A
DDH-15-05 113.88 276.73 162.85 0.17 0.02 2.1 34
including 149.74 150.74 1.00 5.00 0.26 17.1 2,730
and including 275.73 276.73 1.00 2.40 0.06 17.5 61
HOP21-06 1.80 116.18 114.38 0.22 0.025 1.3 49
including 16.50 36.39 19.89 0.27 0.043 1.1 43
and including 69.98 83.67 13.69 0.40 0.032 2.6 209
and 178.23 187.00 8.77 0.32 0.012 2.9 27
and 233.35 241.00 7.65 0.23 0.033 1.8 130
HOP22-07 0.00 214.00 214.00 0.12 0.013 0.9 80
including 0.00 58.15 58.15 0.23 0.011 1.6 90
and 250.91 279.50 28.59 0.13 0.017 0.8 90
and 310 313.25 3.25 0.41 0.059 1.9 80
*Interval represents the downhole intersection length and true widths are unknown
EOH is End of Hole; N/A is Not Available
Mineralization within the porphyry consists of both vein-controlled and disseminated chalcopyrite,
with lesser pyrite, pyrrhotite, magnetite and molybdenite . The best drill intersections to date
comprise chlorite-altered monzonite and porphyry dykes, with zones of vein -controlled potassic
alteration, indicating proximity to an untested, higher -temperature porphyry centre and the
potential to discover stronger copper and gold grades. Several other targets on the property have
seen minor work, including a complementary skarn target to Copper Castle on the northern side
of the Hopper Pluton.
Technical information in this news release has been approved by Strategic’s Vice President
Exploration, Jackson Morton, P.Geo., a qualified person as defined under the terms of National
Instrument 43-101.
1Trench results at the Hopkins North target are historical in nature and have been compiled from
public sources believed to be accurate.
NAD Property Sale
Strategic also announces the sale of its NAD Property to Senoa Gold Corp. a wholly owned
subsidiary of Snowline Gold Corp. (“Snowline”) for cash consideration of $50,000 and a 2% Net
Smelter Return (“NSR”) royalty with a buy -down to 1% for 1,000 ounces of gold or cash
equivalent. The NAD 1 -76 claims are contiguous with the northwestern portion of Snowline’s
Einerson Project.
About Strategic Metals Ltd.
Strategic is a project generator with 13 royalty interests, 14 projects under option to others, and a
portfolio of 82 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 $ 1.8 million and large shareholdings in
several active mineral exploration companies including 32.8% of Broden Mining Ltd., 33.4% of
GGL Resources Corp., 29.6% of Rockhaven Resources Ltd., 16.2% of Silver Range Resources
Ltd and 15.6% of Precipitate Gold Corp. All these companies are engaged in promising exploration
projects. Strategic also owns 15 million shares of Terra CO2 Technologies Holdings Inc. (“Terra”),
a private Delaware corporation developing a cost-effective alternative to Portland cement, which
recently announced a definitive agreement with Asher Materials for an exclusive market license
of Terra's first commercial-scale advanced processing facility.
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 exploration
and other risk factors beyond its control, and actual results may differ materially from the expected results.