StrategX confirms critical energy metals
58-meter-thick zone precious and critical metals at Nagvaak North of 60 Mining News – December 9, 2022
Last updated 12/8/2022 at 2:18pm
StrategX Elements Corp. Dec. 7 reported that resampling of a historical hole drilled by BHP identified a 58-meter-thick zone of critical energy metals in Target Area 1 of the Nagvaak project on Nunavut's Melville Peninsula.
Nagvaak features a 6,000-meter-long zone with strong vanadium, nickel, copper, cobalt, molybdenum, zinc, silver, platinum group metals, and gold mineralization.
Since its discovery in the 1970s, mining and mineral exploration companies have carried out geophysical surveys at Nagvaak that have identified strong electromagnetic conductive zones in areas where these critical and precious metals have been identified on the surface.
StrategX noticed that follow-up drilling completed by BHP in the 1990s indicated that the critical green energy metals identified on the surface continue at depth.
Focused on these green metals, the junior logged, sampled, and analyzed historical BHP drill core discovered on the property with an X-ray fluorescence (XRF) spectrometer before sending it to an assay lab for analysis.
Results back from the assay lab show that BHP's hole 14 at Nagvaak cut 58 meters averaging 0.51% vanadium, 0.25% nickel, 0.06% molybdenum, 0.17% copper, 0.38% zinc, 8.72 g/t silver, and 0.11 g/t platinum group metals plus gold from a depth of 27.2 meters.
This comes to 2.63% copper-equivalent when you combine the value of all the metals encountered over 58 meters.
In addition, the precious and critical metals at Nagvaak is hosted in graphitic shale that StrategX is evaluating for potentially economic quality graphite.
StrategX plans to launch a drill program before the end of March that is slated to include four holes focused on expanding the mineralized zone encountered in BHP's hole 14.