Rackla Metals Options Scarlet East Project to Strategic Metals

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[{"type":"text","content":"\n\n\n\n\n\nVANCOUVER, April 2, 2012 /CNW/ - Rackla Metals Inc. (TSX-V: RAK) is pleased to announce that it has signed a binding\n letter of intent with Strategic Metals Ltd. granting Strategic the\n option to acquire an undivided 60% interest in the Scarlet East claim\n block. Strategic can exercise the option by making $5,000,000 in\n exploration expenditures on the property as follows:\n\n\n$500,000 on or before December 31, 2013;\n\n\nan additional $1,000,000 on or before December 31, 2014;\n\n\nan additional $1,500,000 on or before December 31, 2015; and\n\n\nan additional $2,000,000 on or before December 31, 2016.\n\n\nStrategic is also required to complete not less than 1,000 meters of\n drilling on or before December 31, 2012. Upon exercising the option,\n Strategic and Rackla will respectively hold 60% and 40% interests in\n the property.\n\n\nThe Scarlet East Claims\n\n\nThe Scarlet East property consists of 230 claims (47.8 sq km) covering\n prospective stratigraphy in the newly-defined Nadaleen Trend, an\n emerging district of Carlin-type gold prospects located in east-central\n Yukon.  The property directly abuts claims held by ATAC Resources and\n lies approximately 10 km southeast of its major Osiris, Conrad and Isis\n East discoveries.\n\n\nSoil geochemical surveys and first pass geological mapping done by\n Rackla Metals in 2011 have confirmed a favourable setting for\n Carlin-type gold mineralization at the Scarlet East property.  Soils\n collected from the eastern portion of the claim group returned\n encouraging gold-arsenic-antimony-mercury values with a distinct\n Carlin-type signature. A series of north-northwest-trending anomalies,\n measuring up to 1,500 m long by 500 m wide, contains arsenic values\n from 100 to 8,468 ppm together with gold values from 20 to 221 ppb. The\n anomalous areas are underlain by favourable off-shelf carbonate\n stratigraphy, including gossanous silty limestone, within a prominent\n southeast-trending antiform.\n\n\nRackla's 2012 Programs\n\n\nRackla anticipates three active drill programs for the coming season,\n operated by joint venture partners:\n\n\nStrategic has committed to a program of not less than 1,000m meters of\n drilling at Scarlet East before the end of the year, testing the high\n priority targets described above.\n\nSolomon Resources Limited has annou...

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