Strategic Metals Ltd. Announces the Commencement of Drilling at its Hartless Joe Property in Yukon Territory
August 9, 2016 - Strategic Metals Ltd. (TSX-V: SMD) (“Strategic”) announces that it will drill test three or more of its other wholly-owned properties as phase 2 of its 2016 exploration program.Approximately 5,000 m of phase 2 drilling is planned, but the program is open ended, pending favourable results.
The phase 2 program has started with diamond drilling at the Hartless Joe property near Whitehorse in southern Yukon.The drilling will explore downdip of trenches at the King and Queen showings, where chip samples collected earlier this summer graded 44.3 g/t gold across 2.10 m and 462 g/t gold across 0.4 m, respectively (see Strategic news release dated July 28, 2016).
Strategic also intends to drill at the Hopper and the Mars properties as part of the phase 2 program.The primary target at the Hopper property, located along the Aishihik road in southwestern Yukon, is the updip projection of a gold-rich skarn horizon that was intercepted in two 2015 drill holes.The intercepts are located 350 m apart and graded 43.6 g/t gold over 1 m and 12.15 g/t gold over 2.65 m.The skarn horizon is believed to have a shallow dip and the mineralization is open in all directions.
Drilling at the Mars property, located 40 km north of the Hartless Joe property, will test along strike and downdip of a 2004 drill intercept that averaged 6.44 g/t gold over 4.57 m.No other holes have been drilled near the 2004 discovery.
Technical information in this news release has been approved by Heather Burrell, P.Geo., a senior geologist with Archer, Cathro & Associates (1981) Limited and a qualified person for the purpose of National Instrument 43-101.
About Strategic Metals Ltd.
Strategic is a project generator and the largest claim holder in Yukon, which the Fraser Institute recently rated as the best jurisdiction in Canada for mineral potential.Strategic’s portfolio of more than 100 projects is the result of 50 years of focussed exploration and research by a team with a track record of major discoveries.Current 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, similar to those at nearby deposits.
Strategic has a current cash position of over $20 million and significant shareholdings in a number of active mineral exploration companies including 41.4% of Rockhaven Resources Ltd., 8.3% of ATAC Resources Ltd., 23.9% of Precipitate Gold Corp., and 16.5% of Silver Range 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:
Strategic Metals Ltd.
W. Douglas Eaton
President and C.E.O.
Tel: (604) 688-2568
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.