Strategic Metals Regains 100% Interest in the Hopper Copper-Gold Project and Converts NAD Property to NSR Royalty
Strategic Metals has regained full ownership of the Hopper copper-gold project after terminating its option agreement with Alpha Copper. The project, located in southern Yukon, spans 365 claims and covers a 74 km² area. Recent drill results include 1.87% copper and 1.04 g/t gold over 15.27 meters from the Copper Castle skarn target, and 0.22% copper over 114.38 meters from the Hopkins North porphyry target. The project is road-accessible and permitted for large drill programs, situated near Otter Falls hydroelectric generator and Haines port.
Additionally, Strategic sold its NAD Property to Senoa Gold Corp. for $50,000 and a 2% NSR royalty. Exploration on the Hopper project remains promising, with significant mineralization yet to be fully tested.
- Regained 100% ownership of Hopper copper-gold project.
- Positive 2022 drill results: Copper Castle target yielded 1.87% copper and 1.04 g/t gold over 15.27 meters.
- Hopkins North target yielded 0.22% copper over 114.38 meters.
- Hopper project is road-accessible and fully permitted for large drill programs.
- Proximity to key infrastructure: 22 km from Otter Falls hydroelectric generator and 320 km from Haines port.
- Strategic sold NAD Property for $50,000 and secured a 2% NSR royalty.
- Much of the Hopper project's prospective area remains untested due to heavy vegetation and overburden.
- Historical results show lower copper concentrations in some drill holes (e.g., 0.12% copper over 214 meters).
- Uncertainty in true widths of mineralized zones, as several drill intervals represent downhole lengths only.
- Significant porphyry copper mineralization over a 2.3 km by 650 m area is largely untested by drilling; gold-enriched skarn mineralization remains open along strike and down-dip in multiple horizons
- 2022 drill results of
1.87% copper and 1.04 g/t gold over 15.27 m from the Copper Castle skarn target and0.22% copper over 114.38 m from the Hopkins North porphyry target - Road-accessible and permitted for a large drill program; the Hopper Project lies 22 km north of the Otter Falls hydroelectric generator and only 320 km from the deep sea port of Haines, Alaska
VANCOUVER, BC / ACCESSWIRE / May 16, 2024 / Strategic Metals Ltd. (TSXV:SMD) ("Strategic") reports that it has terminated the Option Agreement (the "Agreement") on the Hopper copper-gold project ("Hopper" or the "Project") with Alpha Copper Corp. (CSE:ALCU). Upon termination, Strategic regains full ownership of the Project, without any underlying royalty interest.
The Project consists of 365 mineral claims covering a 74 km2 area in southern Yukon, within the Traditional Territory of the Champagne and Aishihik First Nations. Exploration targets at Hopper, which covers a copper-gold porphyry and skarn system, are fully permitted and accessible via a network of roads and trails.
Hopper Highlights
Hopper lies within the Dawson Range Gold Belt, a metallogenic province that hosts several major deposits, including Western Copper and Gold Corporation's Casino porphyry copper-gold deposit, located 190 km to the north-northwest (Figure 1). Mineral occurrences on the property, which collectively make up the Hopkins North porphyry target and the Copper Castle skarn target, are associated with a 4 by 6 km intrusion referred to as the Hopper Pluton (Figure 2). Dating of the pluton has yielded a Late Cretaceous age that is consistent with most mineralization along the belt, including the Casino deposit.
The Copper Castle target covers at least 10, stacked skarn horizons that are partially delineated along a 1,200 m strike length south of the Hopper Pluton. The mineralized horizon are layered throughout a known vertical section approximately 425 m thick. The skarns have been only partially delineated by trenching, percussion and diamond drilling, soil geochemistry and geophysical surveying, and remains open down dip and along strike to the south. Recent drill results from the Copper Castle target include
Drill Hole | From (m) | To (m) | Interval* (m) | Cu | Au | Ag | Mo |
(%) | (g/t) | (g/t) | (ppm) | ||||
DDH-11-01 | 2.95 | 16.65 | 13.70 | 0.41 | 0.25 | 3.8 | 9 |
including | 9.69 | 12.02 | 2.33 | 1.24 | 0.87 | 13.0 | 2 |
and | 125.67 | 142.60 | 16.93 | 0.22 | 1.76 | 1.8 | 1 |
including | 125.67 | 133.17 | 7.50 | 0.43 | 3.35 | 3.6 | 1 |
DDH-11-03 | 58.28 | 66.78 | 8.50 | 1.62 | 0.54 | 9.3 | 1 |
and | 88.28 | 90.70 | 2.42 | 1.87 | 0.64 | 17.7 | 2 |
and | 130.00 | 132.45 | 2.45 | 0.72 | 0.18 | 6.8 | 3 |
DDH-11-04 | 57.39 | 62.53 | 5.15 | 0.95 | 0.84 | 5.6 | 2 |
and | 174.86 | 182.87 | 8.01 | 1.58 | 0.84 | 14.8 | 43 |
DDH-15-01 | 90.59 | 92.26 | 1.67 | 0.57 | 0.12 | 4.4 | 0 |
and | 284.29 | 286.94 | 2.65 | 0.95 | 12.25 | 5.5 | 3 |
DDH-15-02 | 82.07 | 91.09 | 9.02 | 0.24 | 0.12 | 1.6 | 32 |
and | 113.13 | 128.14 | 15.01 | 0.50 | 0.50 | 1.6 | 4 |
including | 121.70 | 128.14 | 6.44 | 1.00 | 1.01 | 3.9 | 4 |
and | 136.60 | 138.60 | 2.00 | 0.70 | 0.14 | 4.4 | 2 |
and | 150.85 | 151.85 | 1.00 | 0.45 | 1.00 | 2.1 | 6 |
and | 204.90 | 205.90 | 1.00 | 0.79 | 0.72 | 4.2 | 4 |
DDH-15-04 | 39.09 | 52.10 | 13.01 | 0.41 | 0.33 | 1.7 | 7 |
and | 196.97 | 211.40 | 14.43 | 0.60 | 1.11 | 2.9 | 184 |
including | 202.52 | 207.44 | 4.48 | 1.03 | 2.40 | 4.0 | 253 |
DDH-15-08° | 336.66 | 337.66 | 1.00 | 0.06 | 43.60 | 1.1 | 53 |
and | 341.49 | 342.63 | 1.14 | 0.31 | 0.20 | 1.9 | 45 |
HOP21-01 | 38.60 | 40.75 | 2.15 | 0.38 | 0.14 | 3.4 | 1 |
and | 55.44 | 77.72 | 22.28 | 1.41 | 0.53 | 11.7 | 2 |
including | 62.00 | 66.72 | 4.72 | 5.34 | 1.44 | 45.7 | 7 |
HOP21-03 | 77.00 | 87.96 | 10.96 | 1.37 | 0.49 | 9.6 | 2 |
including | 83.95 | 87.96 | 4.01 | 2.72 | 1.01 | 20.1 | 4 |
HOP22-02 | 69.26 | 70.42 | 1.16 | 0.37 | 0.10 | 3.7 | 7 |
and | 99.40 | 100.69 | 1.29 | 1.27 | 0.71 | 9.9 | 3 |
and | 107.02 | 123.54 | 16.52 | 0.80 | 0.49 | 6.7 | 77 |
including | 109.46 | 114.62 | 5.16 | 1.86 | 0.83 | 11.4 | 102 |
and | 117.37 | 123.54 | 6.17 | 1.04 | 0.56 | 7.4 | 116 |
and | 137.70 | 141.70 | 4.00 | 0.24 | 0.12 | 2.9 | 251 |
HOP22-03 | 62.23 | 77.50 | 15.27 | 1.87 | 1.04 | 13.8 | 92 |
including | 63.85 | 70.00 | 6.15 | 3.93 | 2.20 | 28.8 | 71 |
and | 113.01 | 114.74 | 1.73 | 0.72 | 0.35 | 5.9 | 28 |
and | 166.81 | 168.00 | 1.19 | 0.96 | 0.22 | 8.4 | 4 |
and | 216.98 | 222.50 | 5.52 | 0.24 | 0.09 | 1.7 | 1,392 |
and | 234.65 | 237.18 | 2.53 | 0.37 | 0.14 | 2.2 | 7 |
*Interval represents the downhole intersection length; true widths are estimated to represent
°Re-entered and deepened hole DDH-11-05
The Hopkins North target covers porphyry-type copper-gold mineralization identified within a 650 by 2,300 m area, which is associated with late phases of the Hopper Pluton. Much of this prospective area is heavily vegetated and blanketed by various depths of overburden, and the target is largely untested. Historical chip sampling from trenches at the porphyry target reportedly yielded
Drill Hole | From (m) | To (m) | Interval* (m) | Cu | Au | Ag | Mo |
(%) | (g/t) | (g/t) | (ppm) | ||||
PDH-11-19 | 19.81 | 28.96 | 9.15 | 0.36 | 0.01 | 2.3 | N/A |
PDH-11-23 | 42.67 | 44.19 | 1.52 | 0.33 | 0.01 | 0.7 | N/A |
PDH-11-39 | 0.00 | EOH | 39.62 | 0.24 | 0.06 | 1.4 | N/A |
including | 28.96 | EOH | 10.67 | 0.70 | 0.20 | 4.1 | N/A |
DDH-15-05 | 113.88 | 276.73 | 162.85 | 0.17 | 0.02 | 2.1 | 34 |
including | 149.74 | 150.74 | 1.00 | 5.00 | 0.26 | 17.1 | 2,730 |
and including | 275.73 | 276.73 | 1.00 | 2.40 | 0.06 | 17.5 | 61 |
HOP21-06 | 1.80 | 116.18 | 114.38 | 0.22 | 0.025 | 1.3 | 49 |
including | 16.50 | 36.39 | 19.89 | 0.27 | 0.043 | 1.1 | 43 |
and including | 69.98 | 83.67 | 13.69 | 0.40 | 0.032 | 2.6 | 209 |
and | 178.23 | 187.00 | 8.77 | 0.32 | 0.012 | 2.9 | 27 |
and | 233.35 | 241.00 | 7.65 | 0.23 | 0.033 | 1.8 | 130 |
HOP22-07 | 0.00 | 214.00 | 214.00 | 0.12 | 0.013 | 0.9 | 80 |
including | 0.00 | 58.15 | 58.15 | 0.23 | 0.011 | 1.6 | 90 |
and | 250.91 | 279.50 | 28.59 | 0.13 | 0.017 | 0.8 | 90 |
and | 310 | 313.25 | 3.25 | 0.41 | 0.059 | 1.9 | 80 |
*Interval represents the downhole intersection length and true widths are unknown
EOH is End of Hole; N/A is Not Available
Mineralization within the porphyry consists of both vein-controlled and disseminated chalcopyrite, with lesser pyrite, pyrrhotite, magnetite and molybdenite. The best drill intersections to date comprise chlorite-altered monzonite and porphyry dykes, with zones of vein-controlled potassic alteration, indicating proximity to an untested, higher-temperature porphyry centre and the potential to discover stronger copper and gold grades. Several other targets on the property have seen minor work, including a complementary skarn target to Copper Castle on the northern side of the Hopper Pluton.
Technical information in this news release has been approved by Strategic's Vice President Exploration, Jackson Morton, P.Geo., a qualified person as defined under the terms of National Instrument 43-101.
1Trench results at the Hopkins North target are historical in nature and have been compiled from public sources believed to be accurate.
NAD Property Sale
Strategic also announces the sale of its NAD Property to Senoa Gold Corp. a wholly owned subsidiary of Snowline Gold Corp. ("Snowline") for cash consideration of
About Strategic Metals Ltd.
Strategic is a project generator with 13 royalty interests, 14 projects under option to others, and a portfolio of 82 wholly owned projects that are the product of over 50 years of focussed exploration and research by a team with a track record of major discoveries. Projects available for option, joint venture or sale include drill-confirmed prospects and drill-ready targets with high-grade surface showings and/or geochemical anomalies and geophysical features that resemble those at nearby deposits.
Strategic has a current cash position of approximately
ON BEHALF OF THE BOARD
"W. Douglas Eaton"
President and Chief Executive Officer
For further information concerning Strategic or its various exploration projects please visit our website at www.strategicmetalsltd.com or contact:
Corporate Information
Strategic Metals Ltd.
W. Douglas Eaton
President and C.E.O.
Tel: (604) 688-2568
Investor Inquiries
Richard Drechsler
V.P. Communications
Tel: (604) 687-2522
NA Toll-Free: (888) 688-2522
rdrechsler@strategicmetalsltd.com
http://www.strategicmetalsltd.com
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.
This news release may contain forward looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of exploration and other risk factors beyond its control, and actual results may differ materially from the expected results.
SOURCE: Strategic Metals Ltd.
View the original press release on accesswire.com
FAQ
What is the current ownership status of the Hopper copper-gold project?
What were the significant drill results for the Hopper copper-gold project in 2022?
Is the Hopper copper-gold project accessible for drilling?
What infrastructure is near the Hopper copper-gold project?