Projects

The Tidd property is wholly owned by Strategic Metals Ltd. It hosts a copper-silver-indium±bismuth ±lead±zinc prospect located in south-central Yukon and covers a 179 sq km area.

The property lies within a favourable geological trend interpreted by Cyprus Anvil geologists as the southeastern extension of the Anvil Range District, which hosts a series of well known sedimentary exhalitive deposits. Most notable are the Faro, Grum, Vangorda, Dy and Swim deposits which collectively contained pre-mining reserves of 120 Mt grading 5.6 % Zn, 3.7 % Pb and about 47 g/t Ag. These stratiform massive sulphide deposits are Cambrian age and occur within a restricted stratigraphic interval marked by the transition between the Mount Mye and Vangorda Formations. Ore bodies are characterized by stacked horizons of pyrite dominant sulphides with varying accumulations of sphalerite and galena. Vertical zoning within the deposits consists of an upper level lead-silver-zinc rich sulphide dominant facies underlain by a zinc sulphide enriched quartzose unit. Copper dominant feeder zone mineralization is often associated with vent proximal facies in deposits of this type but is not widely recognized within the Anvil Range Deposits. However, minor quantities of copper-gold rich mineralization likely associated with a feeder zone, has been documented near the base of the Vangorda Deposit.

The Tidd claims are situated 55 km northeast of Ross River and 25 km southeast of the North Canol Road. The area is characterized by gently undulating terrain with a thin veneer of glacial till, swamps and sub-alpine vegetation. Although outcrop in the area of interest is sparse, talus and subcrop indicate local geology consists largely of muscovite-sericite altered phyllite and lesser schist of the Vangorda Formation. The host sediments are intruded by small Cretaceous granitic stocks and related porphyry dykes in the northern part of the property. They are capped by younger sediments of the Road River and Earn Groups plus fine grained mafic to intermediate volcanic rocks to the south and northwest.

The Road River Group is the unit that hosts the Howards Pass District sedex deposits, roughly 120 km northeast of the Tidd property. Total inferred resources for the three main deposits (Anniv, XY and Brodel) were reclassified for NI 43-101 compliance in 2006 and are reported to total 112.91 Mt grading 5.40% Zn and 2.14% Pb. Pacifica Resources Ltd. is aggressively exploring the Howards Pass District.

Exploration at the Tidd property in 2006 included a major drill program, induced polarization surveys and extensive VTEM surveys. The work identified two types of mineralization. The first and most abundant type is copper-silver-indium-lead-zinc mineralization that occurs at the Indium Zone in the eastern part property and was the focus of the 2006 exploration program. The other type consists of massive pyrite located 5 km west of the Indium Zone at the Road River Target.

A 1900 m diamond drill program comprising 16 holes was completed in the vicinity of the Indium Zone, a 3000 by 1000 m area of moderate to strong copper-in-soil geochemical response. Although much of the Indium Zone is covered by vegetation and a thin veneer of glacial till, prospecting has discovered over 100 mineralized float occurrences and six mineralized outcrops within the geochemically anomalous area.

Sulphide mineralogy at the Indium Zone consists of pyrite-pyrrhotite-chalcopyrite-sphalerite-galena-arsenopyrite hosted within moderately to strongly brecciated, sericite-chlorite altered and silicified zones developed obliquely to the dominant foliation of the host sedimentary rocks. Channel samples taken in 2005 from the Main Showing, one of the six mineralized outcrops within the Indium Zone, averaged 1.08% Cu, 68.53 g/t Ag and 46 g/t In over a sampled width of 10.5 m.

Fourteen of the drill holes are within a 1400 m long by 200 m wide band in the eastern part of the Indium Zone. Seven of these holes are on two section lines spaced approximately 100 m apart, which tested stratigraphy in the immediate vicinity of the Main Showing. The other seven holes in this area explored beneath soil geochemical anomalies, mineralized float occurrences or induced polarization anomalies. Two other holes are located approximately 700 m south-southeast down dip from the Main Showing and tested a mineralized outcrop referred to as the WDE Showing, where a panel sample collected in 2005 yielded 0.97% Cu, 44.44 g/t Ag, 45 g/t In and 0.51 g/t Au over a sampled width of 5.0 m.

The highest silver and indium assays in drill holes came from narrow intervals containing heavily disseminated and intermittent semi-massive clots and bands of chalcopyrite and lesser sphalerite that are contained within broader intervals of sericite and chlorite altered rock with diffuse sulphide. In general, indium response is more erratic than was previously reported from surface samples. However, it does remain a significant component of intervals with higher sulphide content. Peak values from the 2006 drill program were 4.64% Cu, 182 g/t Ag, 113 g/t In, 0.96% Pb and 4.04% Zn, respectively.

The geometry of the Indium Zone mineralization is internally complex but in most sections it appears to coincide with a relatively shallowly southward dipping alteration zone that crosscuts stratigraphy. In some sections, it is paralleled by a series of locally brecciated and sericite altered porphyry dykes. The shallow dip is only slightly steeper than the local topography which means the mineralization remains near surface for a considerable distance down dip.

The copper-silver-indium rich zones encountered on surface and in drill core may represent high temperature, vent proximal feeder mineralization that is displaced from potential exhalative (sedex) horizons. However, parts of the metal signature particularly enhanced indium, bismuth and tin, suggest a possible affinity with the nearby Mount Tidd intrusion. These metals may have been mixed with base metals remobilized from pre-existing sulphide bodies and deposited with them along structural conduits. Both of these models indicate potential for sedex type mineralization analogous to deposits elsewhere in the Anvil Range District.

The second type of mineralization identified on the Tidd property occurs in the Road River Group where cobbles of massive sulphide mineralization have been found in the central part of the Tidd claim block. They consist of massive, crudely banded, coarse pyrite. Silica exhalite is also present in a boulder comprised of dark grey to black chert breccia fragments cemented with clear to dark grey quartz and pyrite. -6
Wide spaced deep soil auger samples collected across an electromagnetic conductor in the vicinity of the sulphide mineralization returned elevated silver, copper, lead and zinc response to peak values of 1.3 g/t, 61 ppm, 139 ppm and 1845 ppm, respectively.

Airborne geophysical surveys were flown across the entire property during spring 2006 utilizing the VTEM system, which allows for deep penetration while maintaining high spatial resolution and resistivity discrimination. The surveys identified two highly prospective electromagnetic conductors at the transition between the Vangorda and Mount Mye Formations, which marks the stratigraphic interval where Anvil Range Deposits are developed. A number of very strong VTEM conductors were also identified within the Road River and Earn Group stratigraphy, several of which are located in the vicinity of the Road River massive sulphide discovery. Detailed modeling of conductors is currently underway. No diamond drilling has been performed at any of the VTEM targets.

The Tidd property offers a unique opportunity to explore for two world class deposit types within kilometers of one another. Strategic Metals and SEDEX Mining are encouraged by the early stage exploration results and plans are underway for the 2007 program.