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Strategic Metals Ltd.
Summary
| Project: | Salloon | |
|---|---|---|
| Deposit: | Salloon | |
| Location: | Canada | |
| Commodities: | Gold-Copper-Silver | |
| Date: | 10/12/2016 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 12-10-2016: Strategic Metals Ltd. announces an Exploration/Drilling Update report for its Salloon deposit at the Salloon project. Drilling results incl. 30.23m @ 0.40% Cu, 128.46g/t Ag, 0.05g/t Au from 36.52m. October 12, 2016 -- Strategic Metals Ltd. (TS | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Heather Burrell (Archer, Cathro & Associates (1981) Ltd.) | |
| ABSTRACT: | October 12, 2016 -- Strategic Metals Ltd. (TSX-V: SMD) (“Strategic”) is pleased to announce the first results from its 2016 diamond drill program, which tested a variety of precious metal targets at four of its properties in southern Yukon. The assay results are from a single diamond drill hole at the wholly owned Salloon property, located 70 km northeast of Whitehorse at the southern end of the Livingstone Creek placer gold camp. The Salloon property hosts some of the earliest mineral occurrences discovered in Yukon. The Main Showing is marked by a large clearing centred on malachite and limonite stained, silica flooded outcrops. The occurrences were first staked in 1901 and by 1912 two adits, about 23 and 115 m long, had been cut to explore high grade copper-gold veins, located about 200 m north of the Main Showing. The best reported vein sample graded 44.6 g/t gold, 144 g/t silver and 10.37% copper over 0.5 m. Surprisingly, only two drill holes were completed on the property prior to 2016. The Main Showing and historical adits lie within a 500 by 200 m copper-in-soil geochemical anomaly that coincides with scattered high gold values to a peak of 1020 ppb. Smaller, linear copper-in-soil anomalies occur north and northwest of the main geochemical anomaly. In 1993, two short diamond drill holes were intended to test beneath the Main Showing; however, it now appears they were drilled sub-parallel to mineralization. One of the holes cut 0.49% copper and 0.16 g/t gold across 24.06 m. | |
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