- StrategX (STGX) confirms discovery at Nagvaak project with first drill core results
- The mineralized interval in this drill hole returned 2.63 per cent copper equivalent (CuEq) over 58 metres
- The ground geophysical survey anomalies coincide with the mineralization and will guide the drilling to expand and discover additional targets
- Surface anomalies in critical energy metals occur at depth and appear to be open in all directions and continue along the mineralized corridor
- StrategX is looking at placing four diamond drill holes to expand the size of the mineralized interval in hole 14
- StrategX Elements (STGX) is up 4.17 per cent, trading at C$0.25 at 3:55 pm EST
StrategX Elements (STGX) finds new energy transition metals from drill hole 14, in target area one of the Nagvaak project in Nunavut.
The name ‘Nagvaak’ is an Inuit name with multiple meanings connected to local landmarks – it also means connecting with the land.
The mineralized interval in this drill hole returned 2.63 per cent copper equivalent (CuEq) over 58 metres starting at a depth of 27 metres below the surface.
This interval includes anomalous values of 0.25 per cent nickel, 0.51 per cent vanadium pentoxide, and 0.06 per cent molybdenum.
This confirms that surface anomalies in critical energy metals occur at depth, appear to be open in all directions, and continue along the 6 km E-W trending mineralized corridor.
StrategX is focusing on the next phase of exploration and will narrow in on drilling to expand the mineralized zones, scheduled to commence during the latter part of Q1 in 2023.
Drill core results in hole number 14 drilled to a depth of 58 metres with 2.63 per cent CuEq confirmed at the target area 1.
According to the company, there is potential for a sizeable polymetallic deposit in energy transition metals, including nickel, vanadium, cobalt, copper, molybdenum, and silver.
Elevated molybdenum mineralization averaging 0.13 per cent from 72 to 80 metres was found in the calc-silicate section.
The company is targeting the coincident magnetic and EM conductor anomalies at depth below the mineralization on the surface in Target Area 1.
StrategX is looking at placing four diamond drill holes spaced several hundred metres apart to expand the size of the mineralized interval in hole 14.
StrategX is a new Canadian-based exploration company working in northern Canada’s critical energy metals sector.
StrategX Elements (STGX) is up 4.17 per cent, trading at C$0.25 at 3:55 pm EST.