Strategic Metals Depicts Prospects of Gold-Copper-Molybdenum Mining at Alotta Project

Strategic Metals Depicts Prospects of Gold-Copper-Molybdenum Mining at Alotta Project

Strategic Metals Limited ("Strategic") announced that the recently completed exploration and soil sampling program at the Alotta porphyry gold-copper-molybdenum project has achieved promising results.

The Alotta porphyry Au-Cu-Mo project is wholly owned by Strategic Metal and is located in the Dawson Range porphyry belt in the southwestern Yukon.

The Alotta project is located 40 kilometers south of Western Copper and Gold's Casino porphyry project. The project has 2.4 billion tons of M&I resources, including 7.6 billion pounds of copper (0.14%), 811 million pounds of molybdenum (0.017%), and 14.5 million pounds of ounces of gold (0.19 g/ton).

Recently, Rio Tinto invested US$25.6 million in Western Copper and Gold to fund further work at the Casino Deposit.

The hallmark of the project is a broad magnetic lower layer, corresponding to high-level dykes, brecciation, and pervasive phyllic and potassic alteration zone. These areas are mainly developed within a part of a large pluton composed of magnetite-bearing, coarse-grained granodiorite.

The low magnetic properties are the result of the sulfide displacement of magnetite in the alteration zone.

The 2021 results are based on the work that Strategic has done at the project in the past three years. The positive results of successive projects have prompted the corresponding expansion to the demand block. The property now has 74 mineral requests and covers an area of more than 1,500 hectares.

In general, the soil geochemical sample surveys outlined a very large target, indicating a typical porphyry zoning, with a 4200 m long and 1500 m wide core of strong copper and molybdenum values, flanked by lead-zinc-silver anomalies.

The rapidly increasing gold value can reach up to 2680 ppb. This situation occurs in the entire grid sampling area and may depict the outline of the porphyry mineralization and marginal vein system. In addition, the abnormal soil geochemical zone closely coincides with the magnetic low zone.

Alotta property mainly appears in the unglaciated parts of the Yukon, and deep weathering is its characteristic. There are almost no outcrops on the property, and most of the area is covered by vegetation.

According to the results of the work carried out by the Regional Geological Survey in the Yukon, the residual soil in much of the Dawson Range is covered with a thick layer of debris and younger volcanic ash.

These characteristics, coupled with the local leaching of metals (especially copper) from near-surface rocks, usually weaken the strength of soil geochemical reactions and hinder exploration and mapping.

Despite these limitations, Alotta's soil sampling has produced higher-than-expected results, and the high gold value in the rock sampling is consistent with the expected porphyry grade, including 8.73 g/ton of gold detected in the 2021 sample.

The Alotta project carried out no drilling or mechanical trenching. Now that the geochemical anomaly response area has been outlined, Strategic believes that the next stage of exploration should be a deep array induced polarization survey and detailed magnetic radiation measurement.

After completing the geophysical, geochemical, and geological data processing from the Alotta porphyry gold-copper-molybdenum project, the first diamond drilling should be finished by Strategic Metals.

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