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Strategic Metals starts a 7,000 meter drill program at Mt Hinton

Strategic Metals starts a 7,000 meter drill program at Mt Hinton



This article was originally published by Caesars Report

Strategic Metals (SMD.V) has just closed a C$5.9M placement consisting of a combination of
flow-through shares (priced at C$0.64) and a hard dollar financing (priced at
C$0.45 with a full warrant valid for two years with an exercise price of
C$0.65) and is now fully cashed up for the ongoing exploration season in
Canada’s Yukon Territory.

The company has started a diamond drill
program on its Mt Hinton gold-silver project in the Keno Hill district where
two drill rigs are now testing the potential for high-grade veins for the first
time in the history of the project. One rig is currently working on the Granite
North Zone where a 2019 sampling program encountered some high-grade gold and
silver results Strategic wanted to follow up on. The holes on that section of
the project will be a section line across a 300 meter wide zone.

A second drill rig is working on the Northern Stuctural Corridor where Strategic has defined more than 50 veins and vein segment in a combined strike length of approximately 4 kilometers in an area with widths up to 750 meters. Of specific interest will be the assay results of the 19 vein where a sampling program returned an average grade of 6.51 g/t gold and 68.57 g/t silver over an average with of 1.7 meter along 24 meters of exposed strike. Additionally, the 21 vein was sampled over a length of 22 meters and yielded 42.5 g/t gold and 319 g/t silver over an average width of 1.05 meters while the 24 vein returned 17.5 g/t gold and 1546 g/t silver over a width of 0.49 meters and a strike length of about 24 meters. Interesting sampling results, and Strategic is now drill-testing those specific areas.

Disclosure: The author has a long position in Strategic Metals.

Author: CR Team


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