Strategic Metals Ltd. Provides 2008 Exploration Overview
Tue Jun 3, 10:36 AM
ca.news.finance.yahoo.com
VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 3, 2008) - Strategic Metals Ltd. (TSX VENTURE: SMD.V) is pleased to announce that crews have been mobilized to begin 2008 field exploration. The following overview outlines drilling and other exploration planned for this summer and fall by the Company on its wholly owned or farm-in properties.
Diamond Drilling
Strategic currently has plans to diamond drill three of its properties during summer 2008. These properties are the Highway/Tes, which is wholly owned by Strategic, and the Fairweather and Silver Ghost, which are under option from prospectors.
The Highway/Tes properties are situated alongside the Alaska Highway in northern British Columbia and southern Yukon. They lie within a belt of metamorphosed island arc stratigraphy that is known to host volcanogenic massive sulphide (VMS) type deposits. VTEM surveys done in 2007 identified strong conductors on both properties. A 200 m diamond drill hole is scheduled to be completed in June to test one of the VTEM conductors. The drilling will be done in combination with soil geochemistry, mapping and prospecting in the vicinity of other VTEM conductors. If results are favourable, more drilling is planned for later in summer.
Fairweather is located in the Tintina Gold Belt of central Yukon. It hosts copper-gold porphyry, skarn and vein targets associated with high level, Tombstone Suite intrusions. Strategic conducted soil geochemical and VTEM surveys in 2007 and plans to follow-up the very positive results with additional VTEM surveys and approximately 1100 m of diamond drilling in three holes. Drilling will likely start in July.
Silver Ghost is road accessible and lies 62 km northwest of Terrace in west-central British Columbia. The property hosts a breccia vein zone consisting of pyrite, sphalerite, galena, chalcopyrite and tetrahedrite in a siliceous breccia matrix. Chip samples taken across the only outcrop exposure of the mineralization returned a weighted average grade of 2.6% lead, 7.3% zinc, 1.7% copper and 431 g/t silver over 5.5 m. Exploration in 2008 will include a VTEM survey and approximately 500 m of drilling in 3 to 5 holes. The drilling is scheduled to begin in August.
Other Exploration
VTEM surveys and ground follow-up work are also planned for the Bob, GK, Zakco, Taiga and Antimony properties which are situated in various parts of Yukon and British Columbia.
Strategic continues to generate new exploration targets and will be evaluating many unstaked and recently acquired prospects not mentioned in this release during summer 2008. The Company has arranged all personnel, drills, helicopters and equipment required for an efficient and effective 2008 exploration season. Strategic eagerly awaits results of the upcoming exploration.
Work by Other Companies
In addition to the work described above, Strategic will participate indirectly in a number of other large diamond drill programs through the share interests it has in other junior resource companies. Strategic obtained most of these shares through option or sales agreements regarding some of its more than 60 mineral properties. Companies that Strategic holds shares in include Rockhaven Resources Ltd., Mega Uranium Inc., Mega Silver Inc., Largo Resources Ltd., Southampton Ventures Inc., Zinccorp Resources Ltd., Yankee Hat Minerals Ltd., Pacific Coast Nickel Corp., ATAC Resources Ltd., Midnight Sun Capital Corp. and Premium Exploration Inc. Having substantial share positions in these companies is very important because it expands Strategic's exposure to exploration successes these companies might have on the properties they obtained from Strategic or at any of their other projects. Strategic will soon issue an overview detailing some of the drilling and exploration activities planned by these companies on properties they obtained from Strategic.
This news release has been reviewed by Robert C. Carne, M.Sc., P.Geol., a qualified person for the purpose of National Instrument 43-101.
For further information concerning Strategic Metals Ltd. or its various exploration projects please visit our website at www.strategicmetalsltd.com.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy of this news release.
Contacts
Graham Downs
Strategic Metals Ltd.
Corporate Communications
(604) 687-2522
Email: graham@nordacres.com
Website: www.strategicmetalsltd.com |
