StrategX Reports Significant Mineralization in Drill Core at Nagvaak Project

StrategX Reports Significant Mineralization in Drill Core at Nagvaak Project

 

StrategX Elements Corp. (CSE: STGX) ("StrategX" or the "Company"), reports significant mineralization in drill core that resembles surface rock samples having returned high values greater than 1% nickel equivalent (NiEq) and 0.5% vanadium pentoxide. Approximately 1,000m of well-preserved stored core from a 1996 drill program completed by BHP at Nagvaak was logged in detail with a focus on identifying mineralized intervals for energy transition metals. The previous drill program by BHP focused on exploring for zinc mineralization outlined by a gravity anomaly and multiple EM conductors central to the Nagvaak target area. The Company's exploration program confirmed the location of the BHP drillhole collars and incorporated the drill holes and recently completed ground geophysical survey results into a sectional interpretation (see news release dated October 14th, 2022). Utilizing a handheld XRF spectrometer, the StrategX exploration team identified mineralized zones anomalous in nickel, vanadium, cobalt, copper, molybdenum, and silver. A total of 354 drill core samples were taken and sent to SRC laboratory for assaying.

 

Highlights

 
  • Targets identified to date represent a potentially new major mineral system hosting energy transition minerals including nickel, vanadium, cobalt, copper, molybdenum, and silver.
  •  
  • Significant polymetallic mineralization over wide intervals can be observed in five (5) BHP core holes (see Table 1) indicating that the extensive surface gossan anomalies that returned values greater than 1% NiEq and 0.5% vanadium pentoxide may also occur at depth.
  •  
                         
Drillhole* Mineralized Intervals (metres)
From To Length
DDH15.288.082.8
DDH29.2119.4110.2
DDH310.759.248.5
DDH778.1118.540.4
DDH1427.085.058.0
 

 
*Completed by BHP in 1996, half-core was logged, photographed, and sampled by StrategX.

 
  • XRF spectrometer identified highly anomalous values in nickel, vanadium, copper, molybdenum, and silver in the sampled drill core intervals.
  •  
  • Vanadium pentoxide continues to be recognized as an important component in the mineralized zones.
  •  
  • Significant size potential is outlined based on drill core mineralization observed in two target areas located over 2km apart - confirming depth potential and continuity in the interpreted 6km-long by 400-m-wide mineralized corridor (see Figures 1 to 3 views of project location on the Melville Peninsula, Nunavut, and Nagvaak targets map showing anomalies and cross-section locations).
  •  

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Figure 1: Nagvaak location on the Melville Peninsula, Nunavut (click figure to enlarge view)

 

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Figure 2: Project Nagvaak Targets Map overview (click map to enlarge view)

 

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Figure 3: Project Nagvaak 3D visual with EM anomalies & BHP drill holes on sections 6300 + 8400 (click figure to enlarge view)

 

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Table 1: Drill Core Summary of Mineralized Intervals (PDF version can be viewed at this link)

 
                                                                                                                     
Drillhole IDSection LineAreaDepth (m)AzimuthDip (°)Mineralized Intervals (m)HighlightsXRF ObservationsPhoto
FromToLength
DDH184004880555.210.04.8Massive graphitic shale with pyrrhotite, chalcopyrite and goldmanite as breccia infill, blebs, stringers, and disseminated. Calc-silicate with goldmanite.V in green minerals, Mo and Ag in graphitic shale, Ni in pyrrhotite.A
15.427.311.9B
34.442.27.8
52.875.322.5C
78.588.09.5
DDH2840041250559.219.09.8Massive graphitic shale breccia with pyrrhotite, chalcopyrite and sphalerite as blebs, stringers, and disseminated. Calc-silicate with chalcopyrite, pyrrhotite, sphalerite and goldmanite.V in green minerals, Mo- Ag-Zn in graphitic shale, Ni in pyrrhotite.D
21.926.14.2
37.285.047.8E
90.095.05.0
105.4119.414.0
DDH38400412405510.718.98.2Graphitic shale with finely disseminated pyrrhotite, chalcopyrite and sphalerite; rare blebs and stringers.V in green minerals, Mo and Ag in graphitic shale, Ni in pyrrhotite.
37.459.221.8
120.0124.04.0
DDH78400412005578.188.110.0Graphitic shale with disseminated pyrrhotite, and chalcopyrite; rare blebs and breccia.V in green minerals, Mo and Ag in graphitic shale, Ni in pyrrhotite. Cobalt in calc-silicate.
99.7118.518.8
DDH146300111505527.085.058.0Prominent goldmanite crystals in calc-silicate, and graphite breccia intervals with pyrrhotite and sphalerite matrix.Ni dominant, but also widespread V; Mo, Ag, and Cu identified.F, G, H
 

 

Handheld XRF procedures

 

Handheld portable XRF results do not replace laboratory analysis. The Company considers it an effective screening tool that identifies the geochemical presence of various elements representing mineralized intervals to sample and analyze for nickel, copper, cobalt, vanadium, molybdenum, and other metals. XRF analyses were taken every 10 to 50 cm on the surface of the core as point analyses with a 1 cm view window wherever visible sulphides were present. The XRF instrument used was an Olympus Vanta M-Series, operated by StrategX staff on site.

 

Exploration next steps

 

The Company has positioned the diamond drill rig at site and is ready to commence drilling a 1st phase program as soon as viable - currently the planned start date is for March 2023. The objective of this program will be to evaluate the size and grade of a potential economic mineral deposit hosting multiple energy transition metals allowing the Company to develop a mineral resource as quickly as possible. During the next 3 months, detailed studies will be completed on the mineralized core to further guide metallurgical studies on determining metal recovery rates and mineral processing options.

 

Qualified Person & QA/QC

 

The geological and technical data contained in this news release about the Nagvaak Project was reviewed and approved by Uwe Naeher, P.Geol. (NAPEG), a qualified person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects.

 

About StrategX

 

StrategX is a new Canadian-based exploration company on a mission to make discoveries in critical energy metals in northern Canada and contribute towards a sustainable energy economy. The Company's property portfolio of 5 stand-alone projects is situated on the East Arm of the Great Slave Lake, Northwest Territories and the Melville Peninsula, Nunavut. The Company's first-mover land position in underexplored regions provides a unique opportunity for investors to be part of multiple discoveries and the creation of new districts hosting metals required in the transition towards green energy. Click here to check out our 30-second video clip on StrategX.

 

On Behalf of the Board of Directors

 

Darren G. Bahrey
CEO, President & Director

 

For further information, please contact:

 

StrategX Elements Corp. 
Email: info@strategXcorp.com
Phone: 1-855-787-2849 (toll-free)

 

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

 

Neither the Canadian Securities Exchange nor its regulations 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/146440

 

 

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  Finlay Minerals Ltd. logo (CNW Group/Finlay Minerals Ltd.) 

 

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  •  
  • Detailed geological and alteration mapping and expanded rock and soil sampling on up to 8 target areas on the PIL underway, with the ATTY expected to start by the end of July;

  •  
  • 53 line-km of induced polarization ("IP") geophysical surveys planned on the PIL and 16 line-km on the ATTY, and

  •  
  • Finlay acting as the Operator on both properties.
  •  

Finlay's President and CEO, Ilona Lindsay , states :  

 

  "We are very pleased with the substantial increase in approved funding for both the PIL and the ATTY. This additional funding will allow us to identify and prioritize as many targets as possible for drilling in 2026."  

 

  References:  

 
  1. Freeport-McMoRan (FCX) is a leading international metals company focused on copper, with major operations in the Americas and Indonesia and significant reserves of copper, gold, and molybdenum.

  2.  
  3. Finlay news releases NR 03-25 dated April 17, 2025 entitled: "  Finlay Minerals Enters into Earn-In Agreements with Freeport for its PIL & ATTY Properties " and NR 05-25 dated May 2, 2025 and entitled: "  Finlay Minerals Receives TSX Venture Exchange Approval for PIL Earn-In Agreement. "
  4.  

  Qualified Person:  

 

  Wade Barnes , P. Geo. and Vice President, Exploration for Finlay Minerals and a qualified person as defined by National Instrument 43-101, has approved the technical content of this news release.

 

  About finlay minerals ltd.  

 

Finlay is a TSXV company focused on exploration for base and precious metal deposits with five properties in northern British Columbia :

 

Finlay trades under the symbol "FYL" on the TSXV and under the symbol "FYMNF" on the OTCQB. For further information and details, please visit the Company's website at www.finlayminerals.com   .  

 

  On behalf of the Board of Directors,  

 

  Robert F. Brown ,
Executive Chairman of the Board

 

  Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.  

 

   Forward-Looking Information:    This news release includes certain "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of applicable Canadian securities legislation. All statements in this news release that address events or developments that we expect to occur in the future are forward-looking statements.  Forward-looking statements are statements that are not historical facts and are generally, although not always, identified by words such as "expect", "plan", "anticipate", "project", "target", "potential", "schedule", "forecast", "budget", "estimate", "intend" or "believe" and similar expressions or their negative connotations, or that events or conditions "will", "would", "may", "could", "should" or "might" occur. All such forward-looking statements are based on the opinions and estimates of management as of the date such statements are made. Forward-looking statements in this news release include statements regarding, among others, the exploration plans for the PIL & ATTY Properties. Although Finlay believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploration successes, and continued availability of capital and financing and general economic, market or business conditions. These forward-looking statements are based on a number of assumptions including, among other things, assumptions regarding general business and economic conditions, the timing and receipt of regulatory and governmental approvals, the ability of Finlay and other parties to satisfy stock exchange and other regulatory requirements in a timely manner, the availability of financing for Finlay's proposed transactions and programs on reasonable terms, and the ability of third-party service providers to deliver services in a timely manner. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Finlay does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future or otherwise, except as required by applicable law.  

 

SOURCE finlay minerals ltd. 

 

 

 

 Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/July2025/17/c1585.html  

 
 

 

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