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Strategic Resources Announces Initial Akanvaara Vanadium Drill Results

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Strategic Resources Inc. (TSX-V: SR) is pleased to announce drill results from the first four holes of its 1,200 metre Phase 1 drill program at the Akanvaara project in Finland. The first four holes represent 455 metres of drilling. Strategic is currently waiting for results from holes five to seven and is finishing holes eight and nine, which will complete Phase 1.

 

The first four holes returned mineralization consistent with historical drilling at the property. Vanadium bearing mineralization occurs from surface and has been drilling confirmed to extend to at least 250 metres of vertical depth, and likely deeper. The use of a 0.3% V2O5 cut-off shows a consistent zone approximately 25 metres thick dipping at approximately 45 degrees below horizontal to the southwest. Intercepts quoted 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.

 

The drilling was completed after a 43-kilometre ground magnetics survey on 31 lines spaced 100 metres apart that was completed in Q2.

 

In addition to the current drilling, Strategic is undertaking initial magnetic separation testing (Davis Tube) on 31 higher grade sample pulps from the first seven holes of the program. For assays not yet received, grade was estimated by XRF testing of drill core. This testing is a first step in determining the magnetic separation characteristics of the vanadium-hosting magnetite mineralization.

 

Summary Drill Results:

 

 

Hole From

(m)

To

(m)

Interval

(m)

True

Width

(m)

V

(%)

V2O5

(%)

TiO2

(%)

Fe

(%)

Azimuth Dip
AK19-01 67.0 91.3 24.3 23.9 0.28 0.49 2.65 15.89 330 -56
Incl 84.0 91.3 7.3 7.2 0.42 0.76 3.88 20.27    
AK19-02 60.5 84.0 23.5 23.5 0.27 0.48 2.52 15.31 330 -45
Incl 76.5 83.0 6.5 6.5 0.43 0.77 3.78 19.89    
AK19-03 67.0 90.5 23.5 23.5 0.25 0.45 2.31 14.87 330 -45
Incl 84.5 90.5 6.0 6.0 0.40 0.72 3.76 19.56    
AK19-04 44.5 53.5 9.0 9.0 0.18 0.32 1.89 12.70 330 -45
And 73.5 99.2 25.7 25.7 0.26 0.46 2.34 14.90    
Incl 91.0 98.0 7.0 7.0 0.41 0.73 3.53 19.27    
   
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 2 continuous metres. Sampling is on intervals between 0.6 and 2.0-metre intervals. The highest V2O5 value used in the reported weighted
averages is 0.88% 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 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. 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.

 

 

Drill Hole Location Map with Ground Magnetics (Induced Polarization): (CNW Group/Strategic Resources Inc.)

Posted August 8, 2019

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