Highlights:
AK19-06: 25 metres of 0.49% V2O5; including 7 metres of 0.79% V2O5
AK19-07: 25 metres of 0.48% V2O5; including 7 metres of 0.74% V2O5
AK19-08: 23 metres of 0.55% V2O5; including 13 metres of 0.67% V2O5
AK19-09: 17 metres of 0.61% V2O5; including 13 metres of 0.68% V2O5
VANCOUVER, Oct. 2, 2019 - Strategic Resources Inc. (TSXV: SR) (the "Company" or "Strategic") is pleased to announce drill results from the last five holes (704 metres) of its Phase 1 diamond drill program at the Akanvaara project in Finland.
Holes AK19-05 and AK19-06 stepped out down dip on previous intercepts and hole AK19-07 extended known mineralization along strike in the western zone. The mineralized zone defined so far is approximately 25 metres thick and generally dips at 45 degrees to the southeast. It demonstrates remarkable consistency at a 0.3% V2O5 cut-off grade.
The eastern offset zone was tested with holes AK19-08 and AK19-09 and exhibits a thicker zone of high-grade mineralization above a 0.5% V2O5 cut-off grade. The overall intercepts above the 0.3% V2O5 cut-off grade appear to be thinner than the western zone.
Reported intercepts occur in a magnetite gabbro layer within which mineralization occurs as massive, semi-massive and disseminated magnetite, pyrite and chalcopyrite. Vanadium grades are zoned, with the highest grades occurring towards the bottom of this layer. This initial drill program has confirmed consistent mineralization over a 3-kilometre strike length and up to a vertical depth of 250 metres below surface. The vanadium bearing horizon remains open along strike and to depth.
Preliminary results for initial magnetic separation testing (Davis Tube) on 45 higher grade samples from the first seven holes have returned positive results. Further testing and concentrate optimization studies are being planned for the next phase of drilling.
At Strategic's Silasselkä Project, the Company plans to commence its Phase 1 drilling in Q4 2019.
Summary Drill Results:
| Hole | From
(m) | To
(m) | Interval
(m) | True Width
(m) | V
(%) | V2O5
(%) | TiO2
(%) | Fe
(%) | Azimuth | Dip |
| AK19-05 | 118.5 | 141.5 | 23.0 | 22.5 | 0.25 | 0.45 | 2.49 | 14.86 | 330 | -57 |
| Incl. | 135.5 | 140.5 | 5.0 | 4.9 | 0.42 | 0.75 | 3.82 | 19.23 |
|
|
| AK19-06 | 111.0 | 136.0 | 25.0 | 24.6 | 0.28 | 0.49 | 2.69 | 15.50 | 330 | -55 |
| Incl. | 129.0 | 136.0 | 7.0 | 6.9 | 0.44 | 0.79 | 3.91 | 19.69 |
|
|
| AK19-07 | 136.0 | 161.1 | 25.1 | 24.7 | 0.27 | 0.48 | 2.73 | 15.49 | 330 | -55 |
| Incl. | 154.0 | 161.1 | 7.1 | 6.9 | 0.41 | 0.74 | 3.95 | 18.66 |
|
|
| AK19-08 | 46.0 | 53.0 | 7.0 | 6.9 | 0.17 | 0.31 | 2.04 | 13.19 | 330 | -45 |
| And | 64.0 | 87.0 | 23.0 | 22.7 | 0.31 | 0.55 | 3.18 | 17.04 |
|
|
| Incl. | 74.0 | 87.0 | 13.0 | 12.8 | 0.38 | 0.67 | 3.78 | 19.03 |
|
|
| AK19-09 | 83.0 | 100.0 | 17.0 | 16.7 | 0.34 | 0.61 | 3.67 | 18.31 | 330 | -45 |
| Incl. | 87.0 | 100.0 | 13.0 | 12.8 | 0.38 | 0.68 | 4.01 | 19.36 |
|
|
|
| Note: Intervals in the reported holes are calculated using a cut-off of 0.3% and 0.5% (for high-grade inclusive intervals) V2O5 with maximum internal
dilution of 1.0 continuous metre. Sampling is on intervals between 1.0 and 2.0-metre intervals. The highest V2O5 value used in the reported weighted
averages is 0.975% V2O5. In addition to the above results there were multiple intercepts of lower-grade material in the drill holes. |
Quality Assurance
All Strategic sample assay results have been monitored through a quality control / quality assurance ("QA/QC") program including the insertion of blind standards, blanks and pulp and reject duplicate samples. Logging and sampling are completed at Magnus Mineral's facility located in Sodankylä, Finland. Drill core is sawn in half and half drill-core samples are securely transported to ALS Lab's sample preparation facility in Sodankylä, Finland. Sample pulps are sent to Galway, Ireland for analysis. Vanadium, titanium and iron content is determined by lithium borate fusion and XRF finish. ALS Labs is independent from Strategic. Strategic is not aware of any drilling, sampling, recovery or other factors that could materially affect the accuracy or reliability of the data referred to herein.
Qualified Persons
Leo Hathaway, P.Geo., Vice President of Strategic and the Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects for the Akanvaara project has reviewed, verified and approved the contents of this news release.
About Strategic Resources
Strategic Resources Inc. (TSXV:SR) is a Vancouver, Canada based mineral exploration and development company that is focused on vanadium projects in Finland and Peru. The Company continues to evaluate new opportunities that are related to the electrification of the economy.
Further details are available on the Company's website at https://strategic-res.com/.
To follow future news releases, please sign up at https://strategic-res.com/contact/.
STRATEGIC RESOURCES INC.
Signed: "Scott Hicks"
Scott Hicks, CEO
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 news release.
Cautionary Note Regarding Forward-Looking Information
Certain statements and information herein, including all statements that are not historical facts, contain forward-looking statements and forward-looking information within the meaning of applicable securities laws. Such forward-looking statements or information include but are not limited to statements or information with respect to further testing and concentrate optimization studies at Akanvaara and plans to commence Phase 1 drilling in Q4 2019 at Silasselkä. Often, but not always, forward-looking statements or information can be identified by the use of words such as "will" or variations of similar words and phrases or statements that certain actions, events or results "will" be taken, occur or be achieved.
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SOURCE Strategic Resources Inc.
