COMPANY PRESS RELEASE
Strategic Metals Ltd. (TSXV:SMD) reports that on September 27, 2021, CAVU Mining Corp. (“CAVU”) announced excellent drill results from a new area of skarn mineralization at the Hopper copper-gold-silver project, located in southwestern Yukon.
CAVU holds the Hopper project under option and can acquire a 70% interest in the project by incurring $5 million in exploration expenditures, paying Strategic $700,000 in cash, and issuing Strategic 500,000 CAVU shares, by March 31, 2025.
Highlights from the first three drill holes recently announced by CAVU were:
- 1.405% copper, 0.532 g/t gold and 11.7 g/t silver over 22.28 m in hole 1;
- 0.622% copper, 0.197 g/t gold and 4.2 g/t silver over 9.39 m in hole 2; and,
- 1.365% copper, 0.488 g/t gold and 9.6 g/t silver over 10.96 in hole 3.
Details concerning the drill results, locations of the holes and photos of the mineralized intervals appear on CAVU’s website cavumining.com.
“Strategic congratulates CAVU on its discovery and anticipates that future drilling will result in more discoveries within this large skarn/porphyry complex,” states Doug Eaton, CEO of Strategic. “CAVU’s discovery spotlights the copper potential of southwestern Yukon, an area which hosts several mines, former mines and undeveloped copper deposits. Strategic owns a number of other promising copper-gold projects in this area and sees CAVU’s success a potential stimulus for exploration throughout the district.”
The Hopper project is located along the Ashihik road, 50 km from its junction with the Alaska Highway and 22 km north of the Ashihik hydroelectric dam. A system of 4 by 4 roads provides access to the main exploration areas. The project is comprised of 365 mineral claims encompassing a 74 sq. km. area. The Hopper project is situated within the Tradition Territory of the Champagne and Ashihik First Nation, which has an exploration benefits agreement with Strategic.
Roger Hulstein, P. Geo., is the qualified person for the Company as defined in the National Instrument 43-101 and has reviewed the technical information presented within the news release.
About Strategic Metals Ltd.
Strategic is a project generator with 11 royalty interests, 8 projects under option to others, and a portfolio of more than 100 wholly owned projects that are the product of over 50 years of focussed exploration and research by a team with a track record of major discoveries. Projects available for option, joint venture or sale include drill-confirmed prospects and drill-ready targets with high-grade surface showings and/or geochemical anomalies and geophysical features that resemble those at nearby deposits.
Strategic has a current cash position of $7.5 million and large shareholdings in a number of active mineral exploration companies including 40% of Broden Mining Ltd., 38.9% of GGL Resources Corp., 33.5% of Rockhaven Resources Ltd., 19.9% of Honey Badger Silver Inc., 19.2% of Precipitate Gold Corp. and 18.7% of Silver Range Resources Ltd. All of these companies are well funded and are engaged in promising exploration projects. Strategic also owns 21.9% of Terra CO2 Technologies Holdings Inc., a private Delaware corporation which recently completed a US$9.2 million financing to advance its environmentally-friendly, cost-effective alternative to Portland cement. The current value of Strategic’s stock portfolio, excluding Broden Mining Ltd is approximately $21 million.
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 or contact:
Strategic Metals Ltd.
W. Douglas Eaton
President and C.E.O.
Tel: (604) 688-2568
Tel: (604) 687-2522
NA Toll-Free: (888) 688-2522
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.
SOURCE: Strategic Metals Ltd.