American Marconi Wireless News - Strategic Metals Appoints Vice President Of Energy Development

For the past 25 years Mr. Wallingham has worked across the Yukon with several exploration companies as a community affairs director and manager, a negotiator, and a personnel and training manager, and has acted as an advisor to both First Nations and exploration companies. Mr. Wallingham was one of the founding directors on the Alexco Resource Corp. board, prior to its acquisition by Hecla Mining Company. He has also served on the Yukon Minerals Advisory Board and the Yukon Water Board, as a Yukon Government appointee.

"We are very pleased to welcome Sam to senior management at Strategic Metals", stated W. Douglas Eaton, the President of Strategic. "Mr. Wallingham's extensive experience and close contacts with Yukon First Nations and the Yukon Territorial Government make him uniquely qualified to assist Strategic in developing state-of-the-art, electrical generation alternatives to meet Yukon's growing power demand by using coal from the Division Mountain project. We look forward to Sam's well balanced guidance as we enter into discussions with various First Nations, local communities and the Yukon Territorial Government related to the proposed Division Mountain energy project."

Division Mountain Project

The Division Mountain Project offers Yukon a local solution to the Territory's energy needs while it transitions to longer term green energy sources. Division Mountain's known coal resources could produce enough electricity to satisfy projected medium-term demand on the current Yukon power grid and at one or more of the rapidly advancing, off-grid Yukon mining projects.

The Division Mountain Project covers a 370 km² area of coal-bearing stratigraphy in southwestern Yukon, approximately 90 km northwest of Whitehorse (Figure 1). The property is accessible via a 31 km four-wheel drive road originating from the Klondike Highway near the community of Braeburn. Exploration at Division Mountain, which has occurred intermittently since 1972, includes: 10.4 km of excavator trenching; 12,230 m of diamond drilling in 72 holes; 2,536 m of reverse-circulation (RC) drilling in 27 holes; and 125 m of rotary-air-blast (RAB) drilling in 4 holes. This work has outlined a current NI 43-101 compliant resource of 52.5 million tonnes (Mt) of high Volatile "B" Bituminous coal.

The Division Mountain coal deposit has been explored over a 6.5 by 1.5 km southeast-trending area. Most of the coal occurs in the Middle to Upper Jurassic Tanglefoot Formation Upper Member, which was deposited in a complex deltaic environment. As there are no natural exposures of coal in the Division Mountain area, bedrock coal occurrences have been located by trenching and drilling in areas where loose coal fragments are found in soil or where coal-bearing stratigraphy has been traced along strike. The deposit itself remains open to the north, west and southeast, and numerous coal discoveries elsewhere on the property have received little work.

The Division Mountain deposit is located 20 km west of a major electrical transmission line that runs parallel to the Klondike Highway and is ideally situated to provide feedstock to a local power plant. A copy of the Division Mountain Technical Report is available on Strategic's website at strategicmetalsltd.com/projects/division-mtn-coal.

Technical information in this news release has been approved by Strategic's Vice President Exploration, Jackson Morton, P.Geo., a qualified person as defined under the terms of National Instrument 43-101.

About Strategic Metals Ltd.

Strategic is a project generator with 16 royalty interests, 12 projects under option to others, and a portfolio of 83 wholly owned projects that are the product of over 50 years of focused exploration and research by a team with a track record of major discoveries. Projects available for option, joint venture or sale include drill-confirmed prospects and drill-ready targets with high-grade surface showings and/or geochemical anomalies and geophysical features that resemble those at nearby deposits.

Strategic has a current cash position of approximately $1.4 million and large shareholdings in several active mineral exploration companies including 32% of Broden Mining Ltd., 30.4% of GGL Resources Corp., 28% of Rockhaven Resources Ltd., 15.5% of Silver Range Resources Ltd., and 4.3% of Trifecta Gold Ltd. All these companies are engaged in promising exploration projects. Strategic also owns 15 million shares of Terra CO2 Technologies Holdings Inc. ("Terra"), a private Delaware corporation developing a cost-effective alternative to Portland cement, which recently broke ground on its first low-carbon cementitious materials facility in Cleburne Texas following the closing of a US$124.5M financing.

ON BEHALF OF THE BOARD

"W. Douglas Eaton"
President and Chief Executive Officer

For further information concerning Strategic or its various exploration projects please visit our website at www.strategicmetalsltd.com or contact:

Corporate Information
Strategic Metals Ltd.
W. Douglas Eaton
President and C.E.O.
Tel: (604) 688-2568

Investor Inquiries
Richard Drechsler
V.P. Communications
Tel: (604) 687-2522
NA Toll-Free: (888) 688-2522
[email protected]
https://www.strategicmetalsltd.com

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 release.

This news release may contain forward looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of exploration and other risk factors beyond its control, and actual results may differ materially from the expected results.

SOURCE: Strategic Metals Ltd.

View the original press release on ACCESS Newswire

J.Williams--AMWN