Strategic Metals Discovers More Gold-rich Veins at Its Mount Hinton Property, Yukon
Vancouver, B.C. – September 9, 2019 – Strategic Metals Ltd. (TSX-V: SMD) is pleased to announce results from phase two of its 2019 exploration program at the Mount Hinton property, where phase one rock samples returned up to 2340 g/t gold (see news release dated August 21, 2019). Mount Hinton 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. It is 100% owned by Strategic Metals.
The ongoing, multi-phase program is focused on the Granite Creek basin, which forms the headwaters of a productive placer creek. Visible gold was identified during phase two; however, samples containing visible gold were not sent for analysis.
Highlights from phase two rock sampling include:
- The discovery of new, mineralized quartz veins on the western side of Granite Creek, including:
- A one to two metre wide vein, intermittently exposed along a 75 metre strike length, where four widely-spaced rock samples returned: 28.5 g/t gold; 23.5 g/t gold with 1720 g/t silver; 11.6 g/t gold; and 4.44 g/t gold.
- Another outcropping vein, found within a fault zone, graded 12.6 g/t gold and 2100 g/t silver.
- A second exposure within the same vein fault was located 50 m along strike, where chip sampling returned 30.5 g/t gold and 53.1 g/t silver over 1.2 m and a grab sample assayed 48.5 g/t gold and 74 g/t silver.
- A third, 50 cm wide vein in outcrop, which is covered by talus along strike in both directions, assayed 46.9 g/t gold and 446 g/t silver.
- The discovery of more veins on the eastern side of the Granite Creek basin, including:
- A one metre wide, northeast striking and steeply dipping vein, where a chip sample yielded 4.59 g/t gold over 1 m and a rock sample assayed 11.15 g/t gold.
- A rock sample from a vein outcrop, which is likely the source of the northeasterly striking zone of quartz float reported previously, returned 12.7 g/t gold and 710 g/t silver.
- Follow-up prospecting within the float train of vein quartz and breccia that produced the 2340 g/t gold sample resulted in the discovery of native gold at that site, and collection of a rock sample, which yielded 202 g/t gold and 2020 g/t silver, about 120 m along strike to the northeast.
The attached figure illustrates the significant 2019 rock sample results.
Phase three of the 2019 program is underway with equipment on-site. This phase of the program will include a property-wide LiDAR survey, road construction and mechanized trenching across areas with high gold values in rock and soil. Geological mapping and prospecting will continue during phase three, focusing on the structural controls of newly discovered veins.
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 37.3% of GGL Resources Corp., 36.9% of Rockhaven Resources Ltd., 27.7% of Precipitate Gold Corp., 17.8% of Silver Range Resources Ltd., 8.6% 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.