Strategic Metals to Drill Seven Carlin-Style Targets in Rackla Gold District, Yukon
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 05/31/12 -- Strategic Metals Ltd. (TSX VENTURE: SMD) ("Strategic" or "the Company") is pleased to announce exploration and drilling plans for its wholly-owned Midas Touch project and optioned Scarlet East project, both located in the Rackla Gold Belt of eastern Yukon Territory. The projects cover more than 1,200 sq km area of favourable, off-shelf carbonate-bearing stratigraphy that is prospective for Carlin-style gold mineralization. The property area adjoins the south side of claims where ATAC Resources Ltd. has identified a number of significant Carlin-style gold zones, including its Conrad, Osiris, Isis and Isis East discoveries.
Strategic's 2012 exploration program is scheduled to commence in early June and will drill test seven priority targets for Carlin-style gold mineralization. A budget of $5 million has been approved, which will include at least 8,000 m of drilling on the following targets:
Crag East Property (14 km WSW of ATAC's discoveries):
Crag Property (40 km west of ATAC's discoveries):
Nad Property (22 km ESE of ATAC's discoveries):
Scarlet East Option (10 km ESE of ATAC's discoveries):
Other Geochemical Anomalies:
Strategic will also complete follow-up prospecting and detailed sampling at numerous other geochemical anomalies elsewhere within the Midas Touch project. These include the Hag anomaly, situated 9 km to the southwest of the Trent Zone and the Staff anomaly, located 18 km to the west of ATAC's Tiger Zone. This fieldwork is designed to rapidly advance new discoveries to the drilling stage.
Maps and cross-sections related to the Midas Touch project can be viewed at the Company's website at . Matthew Dumala, P.Eng., has reviewed and approved the technical information contained in this news release. Mr. Dumala is a qualified person as defined by National Instrument 43-101.
About Strategic Metals Ltd.
Strategic is a pre-eminent explorer and claimholder in the Yukon, with an exceptional portfolio of more than 160 property and royalty interests. Strategic also owns marketable shares of other resource companies, including 9.6% of ATAC Resources Ltd., 18.8% of Silver Range Resources Ltd., 26.1% of Rockhaven Resources Ltd, 19.9% of Precipitate Gold Corp., and 19.9% of Wolverine Minerals Corp.
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 .
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.
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.
Contacts:
Strategic Metals Ltd.
W. Douglas Eaton
President and C.E.O.
(604) 688-2568
Strategic Metals Ltd.
Bruce A. Youngman
Chairman
(604) 687-2522
Strategic Metals Ltd. - Investor Inquiries
Richard Drechsler
Corporate Communications
(604) 687-2522 or NA Toll-Free: (888) 688-2522
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Datum: 31.05.2012 - 12:00 Uhr
Sprache: Deutsch
News-ID 151709
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VANCOUVER, BRITISH COLUMBIA
Kategorie:
Mining & Metals
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