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Strategic Metals Acquires the Division Mountain Thermal Coal Deposit, Yukon
VANCOUVER, BC / ACCESS Newswire / May 7, 2025 / Strategic Metals Ltd. (TSXV:SMD) ("Strategic" ...
About this update from Strategic Metals Ltd.
[{"type":"text","content":"Strategic Metals Acquires the Division Mountain Thermal Coal Deposit, YukonVANCOUVER, BC / ACCESS Newswire / May 7, 2025 / Strategic Metals Ltd. (TSXV:SMD) (\"Strategic\" or the \"Company\") is pleased to announce that it has acquired two coal licenses covering the Division Mountain thermal coal deposit, located 90 km northwest of Whitehorse, Yukon. It lies within the Traditional Territories of Champagne and Aishihik, Little Salmon/Carmacks and Kwanlin Dün First Nations and the Ta'an Kwäch'än Council (collectively \"the local First Nations\").\"Division Mountain represents a tremendous opportunity for a made-in-Yukon solution to Yukon's current and increasing energy problem\" states Doug Eaton, Strategic's President and CEO. \"The deposit is road accessible and lies near existing Yukon Energy Corporation transmission lines. It contains a historical measured resource of 52.5 Mt of bituminous coal1, which is envisioned to supply a state-of-the-art, clean coal fired electrical generation plant that would replace the Yukon's existing and proposed diesel power generators. The resource at Division Mountain represents a local thermal coal supply that would be sufficient to provide baseload power for a generation or more. In the coming weeks Strategic intends to work closely with local First Nations to establish a cooperative structure that would facilitate evaluation and, if warranted, development of this timely opportunity.\"The Division Mountain area is underlain by primarily Jurassic to Cretaceous sedimentary rocks of the Laberge Group and Tantalus Formation. Coal occurrences occur within a 50 m interval in the Tanglefoot formation of the Laberge Group. Exploration at Division Mountain occurred intermittently since 1972, and work included: 10.2 km of excavator trenching; 11,442 m of diamond drilling in 68 holes; 1869 m of reverse-circulation (RC) drilling in 20 holes; and 124.7 m of rotary-air-blast (RAB) drilling in 4 holes. This work has work has identified a historical measured resource of 52.5 Mt of high volatile \"B\"-grade bituminous coal, which includes a historical proven reserve of 26.4 Mt1. Reserves were calculated on the basis of coal being surface mined using conventional truck and shovel practices. In addition, the deposit remains open to the north, west and southeast.Recent reporting by the Yukon Energy ...