Strategic Metals Expands GK Property in Golden Triangle Region
TSX VENTURE: SMD
VANCOUVER, British Columbia, Sept. 13, 2017 (GLOBE NEWSWIRE) -- Strategic Metals Ltd. (TSX-V:SMD) (“Strategic”) is pleased to announce that it has more than doubled the size of its wholly owned GK property located in the Golden Triangle of Northern British Columbia. The GK property lies approximately 40 km southeast of the former Golden Bear Mine, 90 km north of the Galore Creek and Schaft Creek Deposits, and 95 km west of the Red Chris Mine/Tatogga Gold discovery.
Figure 1. GK copper soil geochemisty
Figure 2. GK gold soil geochemistry
Figure 3. Strategic Metals GK property location, golden triangle BC
The GK property features highly prospective gold-copper soil geochemical anomalies and mineral showings hosted by units of the Stuhini Group and related plutons. The centre of the property is 12 km from Telegraph Creek and a road extending from Telegraph Creek to Glenora crosses the southern corner of the claim block.
The GK property covers 27,400 hectares (274 sq km) and encompasses drainages that yielded 90 to 99th percentile gold and copper values from regional-scale stream sediment surveys. 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. Only two drill holes have been completed on the property and both returned encouraging results. The best hole, which intersected a near vertical vein 75 m below surface, graded 13.1 g/t gold and 6.05% copper across 0.74 m within a broader interval averaging 1.38 g/t gold and 0.62% copper over 9.14 m. This hole lies within a 3,500 m long soil anomaly.
“The GK property is one of several large-scale gold±copper projects Strategic holds in Yukon and British Columbia,” states W. Douglas Eaton, President and CEO. “We plan to systematically advance these wholly owned projects as this metal cycle strengthens.”
About Strategic Metals Ltd.
Strategic is a project generator with a portfolio of more than 100 projects that are the product of over 50 years of focussed exploration and research by a team with a track record of major discoveries. Current projects available for option, joint venture or sale include drill-confirmed prospects and drill-ready targets with high-grade surface showings, geochemical anomalies and geophysical features, which resemble those at nearby deposits.
Strategic has a current cash position of over $15 million and large shareholdings in a number of active mineral exploration companies including 39.7% of Rockhaven Resources Ltd., 30.2% of Precipitate Gold Corp., 14.3% of Silver Range Resources Ltd., 9.2% Trifecta Gold Ltd., and 7.3% of ATAC Resources Ltd. These shareholdings give Strategic significant, indirect exposure to more than $20 million of diamond drilling in 2017.