Strategic Metals Ltd. Cuts Visually Promising Mineralization at its Keg Property, Yukon
July 26, 2010 - Strategic Metals Ltd. (TSX-V: SMD) ("Strategic") announces that it has completed a four hole diamond drill program at its Keg property in central Yukon Territory. Assay results are expected to be available in mid-August.
Soil geochemical surveys done by previous operators over areas now included in the Keg property collectively identified a 4000 m long, 100 to 1200 m wide area of roughly coincident, moderately to strongly anomalous lead, zinc and copper values. Analytical results from soil samples taken in 2010 by Strategic have confirmed the earlier data, and returned numerous high silver values ranging from 20 to 160 ppm. The area of interest is also marked by coincident magnetic and electromagnetic anomalies.
The 2010 drill holes were located near the center of the soil geochemical anomaly in an area where a few drill holes were completed by past operators. The previous holes tested for stratified massive sulphide mineralization similar to that which comprises the lead-zinc deposits of the Anvil mining camp about 30 km to the south. They were all collared south of the soil geochemical and geophysical anomalies and were aligned steeply or vertically to target mineralized beds that were thought to dip shallowly southward from the anomalies. The previous holes intersected widespread but relatively weak, fracture-filling zinc-silver-copper-lead mineralization.
Strategic's drill holes were mostly collared on old drill sites but were drilled at moderate angles northward under the geochemical and geophysical anomalies to test a steeply dipping, structurally controlled zone. They were spaced over a length of 500 m along that zone. All four holes intersected 50 to 150 m long intervals of disseminated and fracture-filling mineralization within silicified and skarnified sedimentary rocks. Sphalerite, chalcopyrite and galena occur in varying amounts with pyrrhotite, pyrite and arsenopyrite. The sulphide minerals are relatively coarse grained. They typically comprise 1 to 10% of the rock, often increasing to between 20 and 50% over 20 to 100 cm intervals (photographs are available at www.strategicmetalsltd.com).
In response to its initial drill program, Strategic has increased the size of the Keg and nearby Rebel properties. The Keg property consists of 369 mineral claims covering a total of 7472 hectares (74.72 sq km) and the Rebel property comprises 56 claims totalling 1134 hectares (11.34 sq km). Both properties are wholly owned by Strategic.
A helicopter-borne ZTEM survey is being flown over the Keg property and additional soil sampling will commence shortly.
Strategic has a number of other exploration programs underway in addition to the Keg project. It is currently performing diamond drilling for porphyry copper-gold mineralization at its Nikki property in southwestern Yukon and its GK property in northwestern British Columbia, and for precious metal bearing, volcanogenic massive sulphide mineralization on some of its properties located near the Wolverine Mine in the Finlayson District of southeastern Yukon. Strategic is also exploring for gold and/or silver on about 40 of its other wholly owned properties in Yukon and northern British Columbia in order to define targets for future drill programs. Optionees are working on or, are scheduled to work on, 14 of Strategic's other properties.
Work at the Keg property is being conducted by Archer, Cathro & Associates (1981) Limited. H. Smith, P. Geo. is the qualified person for purposes of National Instrument 43-101.
For further information concerning Strategic or its various exploration projects please visit our website atwww.strategicmetalsltd.com or contact:
Graham Downs or Richard Drechsler
Strategic Metals Ltd.
STRATEGIC METALS LTD.
Per: W. Douglas Eaton, President and Chief Executive Officer
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.
Skarnified sediments with chalcopyrite and sphalerite.
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Silicified sediments with sphalerite and pyrite infilling fractures with trace aresenopyrite and chalcopyrite in the matrix.
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