Overview

Climate change is at the forefront of many government programs and economic drivers, sparking a shift to replace fossil fuels with renewable, climate-friendly alternatives. Recognizing this as a “generational opportunity,” Canada has designed a new critical minerals strategy, to address the entire value chain of the critical minerals required for renewable energy technologies, including high-capacity batteries. The six priority critical minerals identified by the Canadian government are: lithium, graphite, nickel, cobalt, copper and rare earth elements (REEs). Canada is doing everything possible, including a C$3.8-billion budget to develop the country's critical minerals industry and establish a domestic supply chain for these minerals as it strives to achieve net-zero emissions by 2050.

The federal government's new critical minerals strategy was welcomed by the Mining Association of Canada, stating it is "arguably the most significant industrial strategy the country has seen in decades."

Canada is rich in critical minerals, and there is significant potential for new projects to become world-class assets. Nunavut and the Northwest Territories host some of the world’s richest mineral deposits. Nunavut’s natural resources industry alone is responsible for 41.2 percent of the province’s GDP. Miners exploring and developing these underexplored regions have the potential to make significant discoveries that will support the electrification transition.

The company’s assets cover 110,00 hectares in the Northwest Territories and 60,000 hectares in Nunavut. StrategX’s flagship project, Nagvaak in Nunavut, is highly prospective for nickel, vanadium, cobalt, copper, molybdenum, silver and PGMs. In Q1 2023, the company plans to conduct a first phase 2,000-meter drill program to confirm suspected deposits. The company’s additional projects are moving towards exploratory drilling as exploration campaigns aim to identify priority targets.

StrategX believes in the importance of maintaining a positive ESGI rating as a company focusing on supporting renewable energy. Leadership has prioritized building solid relationships with local communities from the beginning and integrating these communities into the project. The company understands that communities need to be involved in unlocking the critical mineral potential of its assets.

An experienced management team with an impressive track record of success leads StrategX toward its goals. Darren Bahrey, CEO, has had exploration success with Placer Dome and has been involved in numerous additional discoveries throughout his career. Additional technical and financial experts bring decades of experience in the natural resource industry to lead the company toward fully realizing the value of its underexplored assets.