Strategic Metals Continues to Discover High-grade Gold at Its Mount Hinton Property, Yukon
Vancouver, B.C. – November 18, 2019 – Strategic Metals Ltd. (TSX-V:SMD) is pleased to announce results from phase three of its 2019 exploration program at the Mount Hinton property. The phase three program was designed to follow-up on phases one and two rock samples that returned several high-grade gold values, including 2340 g/t gold and 202 g/t gold (see news releases dated August 21 and September 9, 2019). The Mount Hinton property is located in the southern portion of the Keno Hill District of central Yukon, about 4 to 15 km by road southeast of Alexco Resource Corp.’s mill at Keno City. The property covers the headwaters to several productive placer creeks, including Duncan, Lightning and Granite Creeks, and is 100% owned by Strategic Metals.
Phase three exploration focused on the Granite Creek basin and included a LiDAR survey covering the entire property, mechanized trenching, road building, geological mapping and prospecting. A total of 3 km of road building was completed in order to access areas of high mineral potential, including 1.2 km of road that crosses through the main northeast striking zone of high-grade mineralization identified during phases one and two. This road is well-situated to provide access and drill setups for future programs to test this high-grade zone and nearby, parallel structures.
More visible gold was identified during phase three; however, keeping with previous phases of work, no samples containing visible gold were sent for analysis.
Phase three highlights include:
- Discovery of two new veins in outcrop on the western side of Granite Creek. One where a chip sample returned 24 g/t gold over 1.25 m, and another that is up to 1.5 metres wide, where a grab sample yielded 9.67 g/t gold;
- A sample from a large boulder of quartz vein, which assayed 42.4 g/t gold, expanded the main high-grade float train identified in phases one and two, on the east side of Granite Creek;
- A sample from a northeast striking zone of quartz vein float surrounded by oxidized breccia that is located 60 metres west of, and parallel to, the main high-grade zone on the east side of Granite Creek, yielded 12.45 g/t gold;
- A 1 m wide chip sample across a quartz vein and altered quartzite wallrock exposed in a trench on the west side of Granite Creek, returned 9.9 g/t gold; and,
- Float samples from other new areas of mineralization yielded 28.9 g/t gold, 14 g/t gold, 9.68 g/t gold, 8.7 g/t gold with 115 g/t silver, 4.36 g/t gold with 180 g/t silver and 1.83 g/t gold with 328 g/t silver.
The attached figure illustrates the locations of high-grade rock samples, assay results reported in this news release, and the locations of newly constructed access roads.
Analytical work was done by ALS Minerals, with sample preparation in Whitehorse, Yukon and assays and geochemical analyses in North Vancouver, British Columbia. All rock samples were analyzed for gold by fire assay fusion and inductively coupled plasma-atomic emission spectrometry (Au-ICP21) and 51 other elements by aqua regia digestion and inductively coupled plasma-atomic emission spectroscopy (ME-MS41). Overlimit values were determined for silver, lead and zinc by aqua regia digestion and inductively coupled plasma-atomic emission spectroscopy (Ag-, Pb- and Zn-OG46). For gold assays with values greater than 10 g/t, and silver values greater than 1500 g/t, the samples were reanalyzed using fire assay with a gravimetric finish (Au-GRA21 Ag-GRA21).
The 2019 field program on the Mount Hinton property was managed 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 43.2% of GGL Resources Corp., 36.3% 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:
W. Douglas Eaton
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.