VANCOUVER, BC / ACCESSWIRE / June 14, 2021 / Strategic Metals Ltd. (TSXV:SMD) ("Strategic" or "the Company") is pleased to announce work has started at two of the 24 wholly-owned projects it intends to explore during summer and fall of 2021. The work will include soil sampling, detailed mapping and prospecting in order to make new discoveries and progress existing targets toward drill readiness. The targets to be explored host a wide variety of metals and minerals, including, gold, silver, base metals and a variety of critical metals.
One crew is currently at the Alotta project, a promising copper-gold-molybdenum porphyry prospect located 50 km southwest of Western Copper and Gold's Casino deposit, where Rio Tinto Canada recently invested over $25 million. Alotta is marked by a strong 1.5 by 4 km soil geochemical anomaly that is confined to a large magnetic low, which appears to be related to pervasive alteration and sulphide replacement of magnetite. This project is one of 10 promising porphyry copper-gold projects that are owned by Strategic Metals.
Another crew is at the Harry project, which hosts high-grade gold-copper mineralization related to a shear system. Historical hand trenching in an area of quartz float exposed veins grading 9.3 g/t gold, 27.4 g/t silver and 1.0% copper over 1.5 m. This project is located 70 km southeast of Whitehorse and 60 km east of the Mt. Skukum gold veins that are being aggressively explored by Whitehorse Gold. Strategic Metals owns more than 75 projects where gold and/or silver are major components of the mineralization.
Technical information in this news release has been approved by Jackson Morton, P.Geo., a geologist with Archer, Cathro & Associates (1981) Limited and a qualified person for the purposes of National Instrument 43-101.
About Strategic Metals Ltd.
Strategic is a project generator with 11 royalty interests, 8 projects under option to others, and a portfolio of more than 100 wholly owned 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 and/or geochemical anomalies and geophysical features that resemble those at nearby deposits.
Strategic has a current cash position of over $9 million and large shareholdings in a number of active mineral exploration companies including 38.9% of GGL Resources Corp., 33.5% of Rockhaven Resources Ltd., 19.9% of Honey Badger Silver Inc., 19.2% of Precipitate Gold Corp. and 18.7% of Silver Range Resources Ltd. All of these companies are well funded and are engaged in promising exploration projects. Strategic also owns 21.9% of Terra CO2 Technologies Holdings Inc., a private Delaware corporation which recently completed a US$9.2 million financing to advance its environmentally-friendly, cost-effective alternative to Portland cement. The current value of Strategic's stock portfolio is approximately $29 million.
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:
Corporate Information
Strategic Metals Ltd.
W. Douglas Eaton
President and C.E.O.
Tel: (604) 688-2568
Investor Inquiries
Richard Drechsler
V.P. Communications
Tel: (604) 687-2522
NA Toll-Free: (888) 688-2522
[email protected]
http://www.strategicmetalsltd.com
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.
SOURCE: Strategic Metals Ltd.