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Strategic Metals Options Its Kluane Project, southwestern Yukon
VANCOUVER, BC / ACCESSWIRE / May 17, 2022 / Strategic Metals Ltd. (TSXV:SMD) ("Strategic") h...
About this update from Strategic Metals Ltd.
[{"type":"text","content":"Strategic Metals Options Its Kluane Project, southwestern YukonVANCOUVER, BC / ACCESSWIRE / May 17, 2022 / Strategic Metals Ltd. (TSXV:SMD) (\"Strategic\") has granted Juneau Mining Ltd. (\"Juneau\"), a Private Ontario Company, the option to acquire a 100% interest in its Kluane Project. The Kluane project is located 45 km north-northwest of Haines Junction, Yukon, 29 km west of the Aishihik hydro-electric dam and 10 km from the closest road. It lies within the Traditional Territory of the Champagne and Aishihik First Nation, which have signed a land claim agreement with Yukon and Canada and an exploration benefits agreement with Strategic.The Kluane Project hosts an extensive system of high-grade gold veins straddling the Kluhini River thrust fault, which juxtaposes Cretaceous and older, schist and paragneiss units of Kluane schist to south with granodiorite and quartz-diorite phases of the Paleocene, Ruby Range batholith to the north. Mineralized veins have been discovered across the entire project area, in both the metamorphic and intrusive rocks. Age dating and tectonic reconstruction to allow for displacement along the nearby Denali fault suggest that the veins at the Kluane project may belong to the same metallogenic event as the highly-productive orogenic veins of the Juneau gold belt, located to the south in Alaska. Mines in the Juneau belt produced a total of 6.7 million oz of gold prior to 19451 and production continues at the Kensington Mine, which is owned by Coeur Mining.Strategic Metals conducted surface trenching at the Rikus Vein in 2021 (see news release dated October 5, 2021). Highlights from this program included:20.54 g/t gold over 2.1 m including 40.5 g/t over 0.98 m;13.84 g/t gold over 2 m including 27.2 g/t gold over 1 m;8.60 g/t gold over 5 m including 18.6 g/t over 2 m;7.83 g/t gold over 1.65 m including 20.6 g/t gold over 0.57 m; and6.48 g/t gold over 2.2 m including 11.25 g/t gold over 1.2 m.Juneau. can earn a 100% interest in the Kluane Project by paying Strategic $250,000 by December 31, 2023, issuing to Strategic 9.9% of the shares of Juneau upon completion of a listing transaction, and granting to Strategic a 2% Net Smelter Return Royalty, one-half of which can be repurchased by Juneau for $1,000,000.Technical information in this news release has been approved by Heather Burrell, P.Geo., a senior g...