At the Scarlet East property, where Strategic can earn a 60% interest from Rackla Metals Inc., preliminary surface work and drilling have identified favourable stratigraphy and structural zones coincident with gold and arsenic soil geochemical anomalies.
Strategic will also complete follow-up prospecting and detailed sampling at several other geochemical anomalies elsewhere within the Midas Touch Project. These targets include the Hag anomaly, situated 9 km to the southwest of its gold-bearing Trent Zone and the Staff anomaly, located 18 km to the west of ATAC's Tiger Zone.
OTHER WHOLLY-OWNED PROJECTS
Geochemical sampling, prospecting and mapping programs will be completed on multiple wholly-owned properties located throughout Yukon and northern British Columbia. These programs are designed to expand and evaluate known mineralization and/or geochemical anomalies and, where possible, define specific drill targets. Detailed exploration will be completed at:
The GK gold-copper porphyry property located in northwestern British Columbia within a belt of porphyry deposits that include the Red Chris, GJ and Galore Creek deposits and the new North Rok discovery of Colorado Resources Ltd. Exploration to date at the GK property has outlined four large and very strong gold-copper geochemical anomalies, the largest of which measures up to 1600 by 1000 m, with values of 200 to 6890 ppm copper and 50 to 6180 ppb gold. Only two drill holes have been completed on the property. They tested high-grade veins adjacent to a porphyry target and returned an intercept of 13.1 g/t gold and 6.05% copper over 0.74 m.
The Hopper copper-gold skarn and porphyry property located in southwestern Yukon. At the North Zone, highly anomalous copper geochemistry has been outlined over a 500 by 3800 m area along the western edge of the Hopper Pluton. Historical trenching of porphyry-style mineralization returned 0.52% copper over 45.72 m. Widely spaced shallow percussion drilling intersected up to 0.24% copper and 0.055 g/t gold over 39.62 m (entire length of hole) as well as 0.70% copper and 0.195 g/t gold over 10.66 m, with multiple holes bottoming in mineralization. Diamond drilling at the South Zone intersected a series of stacked skarn horizons and returned values to 1.94% copper and 0.87 g/t gold over 18.59 m as well as 0.22% copper and 1.76 g/t gold over 16.93 m. Large geochemically and geophysically anomalous areas remain to be drill tested on this road-accessible project.
The Hy silver-lead-zinc skarn property situated 85 km north of Teck Resources' Sa Dena Hes deposit in southeast Yukon. Exploration to date on this road-accessible project has outlined multiple mineralized showings. Select results from historical trenching include 370.3 g/t silver, 8.22% lead and 14.0% zinc over 3.20 m as well as 684.0 g/t silver, 11.0% lead and 9.30% zinc over 1.83 m.
About Strategic Metals Ltd.
Strategic is a pre-eminent explorer and claimholder in the Yukon, with an exceptional portfolio of more than 150 property and royalty interests. The 2013 exploration program is budgeted at $2,000,000, which includes a contingency for diamond drilling. The Company has a current cash position of more than $35 million and also owns marketable shares of other resource companies valued at $19 million. Major shareholdings include 9.1% of ATAC Resources Ltd., 19.9% of Silver Range Resources Ltd., 33.0% of Rockhaven Resources Ltd. and 7.7 % of Orefinders Resources Inc.
Technical information in this news release has been approved by Sarah Drechsler, P.Geo., a geological consultant to Strategic Metals and qualified person for the purposes of NI 43-101.
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.
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.
Strategic Metals Ltd.
W. Douglas Eaton
President and C.E.O.
Strategic Metals Ltd.
Bruce A. Youngman
Strategic Metals Ltd.
Richard Drechsler, Corporate Communications
(604) 687-2522 or NA Toll-Free: (888) 688-2522
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