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TSXV: STI
REGINA, Oct. 25, 2011 /CNW/ - Strategic Resources Inc. ("Strategic")
offers the following update on its Gallinas Mountains Rare Earth
project in Lincoln County, New Mexico:
The drilling program referenced in the press release of June 23, 2011
had two components to it. It was designed to further examine (1) the
stratigraphy along the main fault zone running through the Gallinas
Mountains and (2) the stratigraphy of one brecciated target of
interest. As noted in the June 23 release, drilling was suspended due
to extreme fire dangers after having drilled only three holes along the
main fault zone. Drilling at the breccia target was not accomplished.
Core logging examinations show there to be multiple small dike-like
features associated with this main fault zone. Assay results show that
these dike-like features range from 0.34% to 0.46% TREO. These
observations indicate that the main fault zone may not be an optimal
target to pursue.
Focus now shifts to a more thorough examination of the brecciated pipe
zones that can be seen in the overall project area and their potential
to host Rare Earth mineralization. Scientific literature on the
Gallinas Mountains authored by Soule (1946), Heinrich (1964), Perhac
(1970) and Schreiner (1993) speaks favorably of these brecciated zones.
Strategic has now been advised by the State of New Mexico and US Forest
Service that its drill permit applications for the M&E and Vista
brecciated zones should be completed in late November. With a drilling
permit in hand for the one breccia target referenced above and with
permits pending for the M&E and Vista breccia zones, Strategic can now
look forward to resuming its activity in the Gallinas Mountains.
Under the guidelines of National Instrument 43-101, the Qualified Person
responsible for the technical content of this news release is Tony
Kovschak, M.Sc. CPG.
Strategic Resources is a Canadian based junior exploration company with
a Rare Earth exploration project in Lincoln County, New Mexico and a
uranium exploration project in Catron County, New Mexico. More
information about the company is available on line at www.strategicresourcesinc.ca.
Disclaimer:
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
Forward looking statements:
This news release may contain certain forward-looking inferences or
statements. These forward-looking inferences or statements are subject
to a variety of risks and uncertainties beyond the Corporation's
control or prediction and could cause actual events or results to
differ materially from those anticipated in such forward-looking
statements. Although the Corporation believes that the assumptions
inherent in the forward-looking statements are reasonable, undue
reliance should not be placed on these forward-looking statements.
http://strategicresourcesinc.ca TSXv: STI