Strategic Metals Ltd.

TSX.V:SMD $0.35

GK Project

  • Located near infrastructure in a belt of major copper-gold porphyry and gold-rich vein deposits
  • Multiple very strong gold-copper geochemical anomalies
  • Only 2 drill holes on property – demonstrate high-grade vein potential with values to 13.1 g/t gold and 6.05% copper over 0.74 m
  • No holes have tested porphyry targets

The GK property covers an extensive hydrothermal system with high-grade and bulk tonnage gold and copper potential. It is owned 100% by Strategic Metals Ltd. and is not subject to any underlying royalty interests.

The centre of the property is 12 km from Telegraph Creek and a road extending from Telegraph Creek to Glenora crosses the southeastern corner of the claim block. The 27,400 hectare property encompasses drainages that yielded 90 to 99th percentile gold and copper values from regional-scale stream sediment surveys.

The GK property lies within the northwest portion of Stikinia, which is an accreted terrane that hosts prolific porphyry and high-grade vein deposits and mines, including: Red Chris Mine, and other copper-gold porphyry deposits; the formerly producing Golden Bear, Premier, and Snip high-grade gold mines, and the recently producing high-grade underground Brucejack Gold Mine.

The GK property is primarily underlain by a sequence of Upper Triassic Stuhini Group volcanic and sedimentary rocks. This sequence is cut by two main Triassic or Jurassic, undifferentiated granodiorite to diorite plutons and at least four sets of dykes.

Historical soil geochemical surveys have identified two, greater than 3000 hectare anomalies characterized by 50 to 6180 ppb gold and 200 to 6180 ppm copper values, plus several smaller anomalies of similar intensity. High arsenic values are found within most of the geochemically anomalous areas, while silver and lead are locally elevated. The majority of the anomalous sample sites have not been prospected, but cursory follow-up has discovered numerous structurally-controlled showings hosting 5 to 47.5 g/t gold.

The Hungry Bear Showing lies within a 3,500 m long soil anomaly, has been traced for 68 m by trenching and remains open along strike in both directions. Chip samples collected from six sites along the vein returned a weighted average of 6.22 g/t gold and 1.67% copper over an average width of 1.0 m, including one sample that yielded 12.9 g/t gold, 4.76% copper and 12.6 g/t silver over 1.9 m.

In 2010, two diamond drill holes tested parts of one of the main soil anomaly. One of these holes was drilled below the Hungry Bear Showing and intersected the vein at a vertical depth of 75 m. The vein and its wallrocks returned a weighted average of 1.38 g/t gold and 0.62% copper over 9.14 m, including 13.1 g/t gold and 6.05% copper over 0.74 m. Neither drill hole cut porphyry-style mineralization, but both encountered several gold-enriched veins.

Helicopter-borne magnetic and versatile time domain electromagnetic surveys have been flown over the south-central part of the property. The magnetic survey identified a pronounced, oval shaped, semi-discrete high within one of the most geochemically anomalous drainages. This magnetic feature is associated with a broad zone of enhanced conductivity. It is located on an overburden and vegetation covered cirque floor. The best copper gold stream sediment sample was taken from a creek that drains this cirque. In 2018, a induced polarization (IP) survey defined a steeply west-dipping, resistivity low and associated chargeability high that are downdip of the ovoid magnetic high. These geophysical features are characteristic of buried, alkalic-type porphyry gold-copper mineralization.

The GK property is one of several large-scale gold±copper projects Strategic holds in Yukon and British Columbia.

GK Copper Map
GK Gold Map
GK Location Map
GK Gold in Rocks and Soil

For more information please see the GK Project Technical Report filed on SEDAR January 28, 2019.