StrategX Increases the Size of the Nagvaak Critical Metals Discovery on the Melville Peninsula in Northern Canada

StrategX Increases the Size of the Nagvaak Critical Metals Discovery on the Melville Peninsula in Northern Canada

StrategX Elements Corp. (CSE: STGX) ("StrategX" or the "Company") is pleased to announce a considerable advancement reporting additional positive assay results for surface rock samples and drill core from its 100%-owned (2,665-hectare) Nagvaak property. This confirms the discovery of additional zones of critical metals on surface and at depth. These results expand the length of the mineralized corridor to over 6 kilometres and correlate well with previously interpreted geophysical anomalies. The exploration team is focused on prioritizing drill targets and preparing a first phase of drilling to potentially define a large polymetallic deposit in nickel, copper, vanadium, molybdenum, zinc, and precious metals at Nagvaak.

Exploration Highlights

  • New assay results confirm continuity of mineralized zones containing critical metals in a corridor with dimensions ~ 6km by 500m, which is open in all directions.
  • Highly anomalous polymetallic results in 33 out of 45 surface rock samples including notably high values of copper, nickel, molybdenum, vanadium, and zinc.
  • Drill core returned anomalous polymetallic values in multiple intervals near surface in hole 3 and deeper in hole 7, confirming mineralization continues at depth.
  • The mineralization observed is similar to that previously reported in drill hole 14 located 2.3km west, where 58 metres of 2.63% copper-equivalent was intersected [Link here].
  • Detailed studies of drill core including graphitic carbon assay results and petrography characterizing the mineralogy are pending. The Company believes this analysis will aid in developing the geological narrative at Nagvaak and the associated regional belt holding a large mineral system in critical metals.

Prospecting Program

Surface sampling in conjunction with diamond drill core logging and sampling support the continuity along strike length and at depth of the previously defined Nagvaak mineralized zones. Figure 1 shows the location of the new rock grab sample assay results. Highly anomalous rock samples are consistently found in gossanous graphitic schist outcrop, which coincide with geophysical conductivity and magnetic anomalies. These results will assist in prioritizing drill targets. Detailed sample assay results from 45 surface rock samples are displayed in Table 2 below. Notable statistics from this program include the following:

  • Silver (Ag) - 10 samples > 10 g/t, up to 44.5 g/t
  • Copper (Cu) - 17 samples > 0.2% including 9 > 0.3%, up to 1.09%
  • Molybdenum (Mo) - 34 samples > 0.025%, including 10 > 0.05%, up to 0.194%
  • Nickel (Ni) - 13 samples > 0.25%, up to 0.46%
  • Vanadium (V) - 27 samples > 0.2%, including 11 > 0.3%, up to 0.498%
  • Zinc (Zn) - 8 samples > 0.5%, up to 13.05%

Cannot view this image? Visit: https://images.newsfilecorp.com/files/8512/198862_eec11f8264892a99_001.jpg

Figure 1. Surface mineralized rock sample anomalies at Nagvaak Project.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8512/198862_eec11f8264892a99_001full.jpg

Drill Core Sampling Program

In addition to the previously released holes 1 and 2 on this section, hole 3 up-dip and hole 7 down-dip of the projected mineralized zone were sampled. Figure 2 displays the results of the six additional zones of the observed mineralized core.

Drill holes 1, 2, 3 and 7 were drilled on the same section across the width of the zone, at about 40m spacing. Assay results from holes 3 and 7 suggest that the metalliferous zones observed in holes 1 and 2 delineate a zone of 150m minimum in width, rather than being confined to a narrow corridor. Projection of this 150m width to the existing surface exposures of similarly mineralized zones has been traced to over 5000m along the trend indicating significant tonnage potential. Assay results from core samples show impressive values for multiple critical metals: up to 1% copper, 1% nickel, 1% vanadium pentoxide, 0.19% molybdenum, 5% zinc, 44 g/t silver and 1 g/t gold plus platinum group elements and can be found throughout the property. These high assay values occur as high-grade single commodity zones as well as polymetallic zones.

The results obtained to date from the historical drill holes are contributing to prioritizing drill targets knowing the Nagvaak mineral system is very large. Petrographic and graphite analyses are still pending and will contribute to this evaluation. Target Areas 1, 4 and 7 have the potential to host a very large tonnage critical metals deposit close to the surface, with grades greater than 1% nickel-equivalent or 2% copper equivalent and including high-grade vanadium pentoxide greater than 0.5%.

Cannot view this image? Visit: https://images.newsfilecorp.com/files/8512/198862_eec11f8264892a99_002.jpg

Figure 2. Section 8425E looking west- showing added mineralized intervals in drill holes 3 and 7.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8512/198862_eec11f8264892a99_002full.jpg

Table 1: Drill core results - Mineralized Intervals

IntervalDrill Hole #From (m)To (m)Width (m)Au+PGE (g/t)Ag (g/t)Cu (%)Mo (%)Ni (%)V (%)V2O5 (%) **Zn (%)
3aNAG96-0312.0018.006.000.116.760.110.040.190.260.470.13
3bNAG96-0337.3538.351.000.093.400.070.020.130.240.430.02
3cNAG96-0343.0054.0011.000.246.630.140.040.240.260.460.03
7aNAG96-0780.1088.198.090.054.100.050.020.150.120.220.72
7bNAG96-07100.00104.004.000.043.470.070.020.090.100.280.60
7cNAG96-07108.00120.4012.400.083.670.100.030.190.190.240.14
1a*NAG96-015.2010.205.000.067.760.090.030.140.130.231.12
1b*NAG96-0134.3039.405.100.044.660.080.030.120.160.290.79
1c*NAG96-0147.0047.900.900.0223.730.040.000.030.030.060.29
1d*NAG96-0152.4088.9035.690.010.650.120.030.250.170.310.63
2a*NAG96-029.2519.009.750.056.150.070.020.130.100.190.59
2b*NAG96-0225.2026.180.980.033.710.050.030.040.110.191.14
2c*NAG96-0246.6585.0838.430.116.120.120.030.210.210.370.69
2d*NAG96-02105.45108.052.600.233.740.090.030.190.290.510.09

 

* Denotes previously released intervals - source of the core is from the 1997 drill program completed by BHP.
** Calculated stoichiometrically from elemental Vanadium.

Table 2: Surface Rock results in Target Area 7

SAMPLEAuPtPdAgCuMoNiVV2O5Zn

(g/t)(g/t)(g/t)(g/t)(%)(%)(%)(%)(%) **(%)
NF22 0010.010.000.012.160.030.000.030.010.020.01
NF22 0020.020.010.087.930.240.110.240.330.590.04
NF22 0120.030.020.097.850.140.030.170.210.380.07
NF22 0130.010.010.022.430.040.050.040.140.2513.05
NF22 0140.020.020.1211.700.230.100.210.280.500.16
NF22 0150.020.000.238.140.250.000.370.030.060.11
NF22 0160.060.010.0415.400.060.050.040.150.270.01
NF22 0170.110.010.0410.500.070.020.050.180.324.31
NF22 0180.000.000.057.300.040.030.040.160.280.02
NF22 0190.000.130.0410.200.010.030.010.210.370.02
NF22 0200.050.020.5418.450.490.040.080.290.520.10
NF22 0210.090.070.2711.900.420.090.280.370.670.07
NF22 0220.240.020.223.180.150.010.290.360.640.08
NF22 0240.000.030.051.760.130.050.210.310.540.06
NF22 0250.000.020.062.300.130.040.480.260.470.02
NF22 0260.010.070.092.260.160.030.260.200.350.22
NF22 0270.030.030.113.590.190.030.200.180.320.03
NF22 0280.010.010.112.780.220.030.340.210.370.93
NF22 0290.000.030.074.950.170.040.110.220.400.03
NF22 0300.000.040.065.740.180.020.060.260.470.05
NF22 0310.010.010.083.230.140.050.170.170.300.03
NF22 0320.000.020.123.240.140.020.140.380.670.02
NF22 0330.010.000.027.230.220.030.210.160.280.82
NF22 0340.010.010.087.700.400.190.210.260.470.11
NF22 0350.010.000.006.870.440.030.330.200.360.01
NF22 0360.020.140.101.810.170.040.350.500.890.02
NF22 0370.030.010.022.720.130.030.130.140.250.43
NF22 0380.030.060.044.100.170.080.200.410.740.02
NF22 0390.040.030.096.740.310.040.130.220.400.71
NF22 0400.020.010.036.320.230.030.240.320.580.03
NF22 0410.030.010.064.990.220.070.300.270.480.02
NF22 0420.210.030.014.440.150.060.460.400.710.01
NF22 0430.010.000.1316.000.310.020.260.120.210.10
NF22 0440.030.020.055.340.250.040.360.240.430.01
NF22 0450.260.030.152.050.140.050.250.300.540.05
NF22 2010.130.030.2144.501.090.030.140.280.491.38
NF22 2020.020.020.0315.350.370.070.220.310.560.03
NF22 2030.010.000.0512.350.050.040.050.140.240.18
NF22 2040.010.000.058.720.070.030.060.160.290.27
NF22 2050.000.010.044.720.060.010.160.120.210.13
NF22 2060.010.000.0711.000.130.030.180.250.441.20
NF22 2070.000.000.037.750.180.050.080.180.320.67
NF22 2080.010.040.0210.650.340.020.270.270.470.22
NF22 2090.000.000.001.200.030.000.010.020.040.01
NF22 2100.000.010.022.650.070.010.150.080.140.01

 

** Calculated stoichiometrically from elemental Vanadium

Cannot view this image? Visit: https://images.newsfilecorp.com/files/8512/198862_eec11f8264892a99_003.jpg

Figure 3a. Critical metals grade profile for drill holes 3 and 7.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8512/198862_eec11f8264892a99_003full.jpg

Cannot view this image? Visit: https://images.newsfilecorp.com/files/8512/198862_eec11f8264892a99_004.jpg

Figure 3b. Critical metals grade profile for drill holes 3 and 7.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8512/198862_eec11f8264892a99_004full.jpg

Qualified Person

The geological and technical data contained in this press release was reviewed and approved by Gary Wong, P. Eng., a qualified person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects.

Sampling & QA/QC

All core samples were of historically sawn half-core and no verification of the original sawing and sampling techniques, or core recovery calculations was possible. Samples taken were of pre-existing half-core and submitted to ALS Geochemistry for analysis. Samples were crushed entirely to 70% passing - 2mm, 250g split off and pulverized to better than 85% passing 75 microns. Multi-Element Ultra Trace uses a four-acid digestion performed on a 0.25g sample to quantitatively dissolve most geological materials culminating in analytical analysis performed with a combination of ICP-AES and ICP-MS (method ME-MS61). From there, either PGM-ICP23 or Au-ICP21 was used, depending on whether platinum group metals were suspected. Both methods use a 30g lead fire assay with ICP-AES finish.

Field grab samples were analyzed using the same methods, with the only difference being that the entire sample was submitted.

No field QA/QC samples (blanks, duplicates, and standards) were inserted because appropriate QA/QC samples are still being sourced.

About StrategX

StrategX is a Canadian-based exploration company focused on discovering critical metals in northern Canada. With five strategic projects situated on the East Arm of the Great Slave Lake, Northwest Territories and the Melville Peninsula, Nunavut, we're leading discovery in untapped regions. This first-mover advantage in underexplored regions presents a unique opportunity for investors to be part of multiple discoveries and the development of new districts for critical metals essential for the global green energy transition. For updates and the latest insights, explore our Investor Portal.

On Behalf of the Board of Directors

Darren G. Bahrey
CEO, President & Director

For further information, please contact:

StrategX Elements Corp.
info@strategXcorp.com
Phone: 778.231.2767

For further information about the Company, please visit our website at www.strategxcrop.com

Neither the Canadian Securities Exchange nor its regulation services accept responsibility for the adequacy or accuracy of this release.

Disclaimer for Forward-Looking Information

All statements included in this press release that address activities, events, or developments that the Company expects, believes, or anticipates will or may occur in the future are forward-looking statements. These forward-looking statements involve numerous assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. In addition, these statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections, and other forward-looking statements will prove inaccurate, certain of which are beyond the Company's control. Readers should not place undue reliance on forward-looking statements. Except as required by law, the Company does not intend to revise or update these forward-looking statements after the date hereof or revise them to reflect the occurrence of future unanticipated events.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/198862

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