- StrategX (STGX) is developing drill targets on Nagvaak property
- The drill targets at Nagvaak are in areas where surface rock samples returned results greater than 1 per cent NiEq in high conductivity zones
- The mineralized host rock is predominantly black shale-hosted graphitic schist with intervening layers of quartzite and more
- Nagvaak has the potential to provide a resource that rivals the above-mentioned large tonnage polymetallic sedimentary-hosted deposit types
- In the future, additional prospecting, rock sampling, geological mapping, and ground geophysical surveys to define and prioritize drill targets
- StrategX Elements Corp. (STGX) is sitting at C$0.31 at 10:32 am EST
StrategX Elements Corp. (STGX) is developing drill targets on the Nagvaak property in the Melville Peninsula, Nunavut.
Past exploration included geophysical surveys that identified strong electromagnetic (EM) conductive zones in areas of the surface geochemical anomalies.
Some highlights include 2,000 metres of drilling, which is planned for this September. With the drilling, there will be a sizeable conductive zone spanning 6,00 meters by 400 meters in a mineralized corridor.
There also seems to be potential for precious metals, including platinum group metals, silver, and gold.
The drill targets at Nagvaak are in areas where surface rock samples returned results greater than 1 per cent NiEq in high conductivity zones.
The target areas are described as 5 per cent outcrop exposure with significant sub-crop, frost heave, and float boulders also seen throughout much of the zones.
The mineralized host rock is predominantly black shale-hosted graphitic schist with intervening layers of quartzite. Locally, the zones containing pyrrhotite, chalcopyrite and sphalerite coincide with the strongest conductors observed.
Aquitaine Minerals initially discovered Nagvaak in 1972 from a regional airborne geophysical survey which identified very large coincident conductivity and magnetic anomalies.
These anomalies correlated with zones of mineralization defined on the surface and were previously tested by shallow drilling in two target areas indicating mineralized zones >20 m in width and spaced over 2.5 km apart.
This exploration focused on zinc deposit potential and did not consider the other commodities at the time.
The company had previously focused on highly metalliferous black shales of the Talvivaara deposit in eastern Finland, containing 2,053 Mt of black shale ore averaging 0.22 per cent Ni, 0.49 per cent Zn, 0.13 per cent Cu and 0.02 per cent Co and is one of the world’s most prominent black shale-hosted polymetallic deposits.
Nagvaak has the potential to provide a resource that rivals the above-mentioned large tonnage polymetallic sedimentary-hosted deposit types.
In the future, additional prospecting, rock sampling, geological mapping, and ground geophysical surveys to define and prioritize drill targets.
A first phase 2,000 m drill program targeting mineralization at depth in the graphitic schist and quartzite zones coincident with the geophysical conductors to find near surface resources in energy transition metals.
StrategX is a new Canadian-based exploration company on a mission to be a significant contributor to the natural resources sector and sustainable energy economy.
StrategX Elements Corp. (STGX) sits at C$0.31 at 10:32 am EST.
