Mining Explorers 2015: Strategic Metals Ltd.
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Last updated 11/1/2015 at Noon
SMD: TSX
President and CEO: W. Douglas Eaton
Chairman: Bruce Youngman
Chief Operating Officer: Ian Talbot
Strategic Metals Ltd. has more than 125 mineral properties in the Yukon, making it the largest claim holder in the territory.
These properties, along with five in northern British Columbia, are prospective for gold, silver, lead, zinc, copper, tin, tungsten, vanadium.
As a prospect generator, Strategic identifies and stakes promising projects and completes initial exploration to confirm the geologic potential of its targets.
The company then seeks partners to advance the projects and shares in the blue-sky potential via shareholdings or royalty interests.
Through this strategy, the prospect generator holds an 8.6 percent interest in ATAC Resources Ltd., which is expanding Carlin-style gold deposits at its Rackla Gold project; a 46.6 percent stake in Rockhaven Resources Ltd., which has identified large gold-silver zones at the Klaza property; and a 19.9 percent interest in Silver Range Resources Ltd., a company that has delineated 38.7 million ounces of silver at the Keg deposit.
Strategic Metals' primarily focused its own 2015 exploration on the Hopper gold-copper project in southwestern Yukon.
Recent geochemical surveys have outlined strong copper, gold and molybdenum soil anomalies that span a 3,600- by 2,500-meter area.
The mineralization at the Hopper property is similar in age to the Casino porphyry deposit, which is located in the same geological belt 200 kilometers (120 miles) to the north-northwest.
Historical drilling on the property targeted a copper-rich skarn zone exposed in a creek bed.
This past drilling identified three skarn horizons - JG, AM and LV - that are about 50 meters apart and typically range from two to 20 meters in thickness.
Hole 15-01, the first hole of a 3,227-meter drill program completed at Hopper in 2015, targeted gold-rich skarn horizons below JG, the main copper horizon.
This hole, drilled 342 meters north-northwest of the nearest historical hole, discovered a new, deeper skarn horizon (JP) that averaged 12.15 grams per metric ton gold and 0.95 percent copper over 2.65 meters from a depth of 284 meters.
Hole 15-02, drilled 435 meters north-northeast of hole 15-01, cut 6.44 meters averaging 1.00 percent copper and 1.01 g/t gold within a 15-meter thick zone of weak to moderate mineralization in the JG horizon.
Hole 15-04, drilled on the southern flank of the Hopper pluton about 172 meters north of hole 2, cut 4.48 meters averaging 2.4 g/t gold and 1.03 percent copper.
Hole 15-05, drilled beneath a larger chargeability anomaly which straddles the northern contact of the Hopper pluton about 1,750 meters north of hole 4, cut 162.5 meters grading 0.17 percent copper.
Strategic Metals CEO Doug Eaton said, "Results from the 2015 program have significantly expanded the area of known skarn mineralization and provide evidence of a porphyry center coring this very large hydrothermal system."
Strategic also completed a 1,200-meter reverse circulation drill program at the Ranch silver-lead-bismuth property in northern British Columbia, just south of the Yukon-B.C. border. In addition, the company sent three- and four-man crews on exploration forays to 31 other properties where they conducted included soil sampling, prospecting, geological mapping, geophysical surveys, air photo surveys and hand trenching work.
Cash and short-term deposits: C$37.3 million (June 30, 2015)
Working capital: C$35.7 million (June 30, 2015)
Market capitalization: C$24 million (Sept. 23, 2015)
1016-510 West Hastings St, Vancouver, BC V6B 1L8
Tel: 604-687-2522 Fax: 604-688-2578
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