- Strategic Metals (TSXV:SMD) has terminated its option agreement for the Hopper Project with Alpha Copper (CSE:ALCU)
- Terminating the agreement means the company regains full ownership of the project without any underlying royalty interest
- The project includes 365 mineral claims covering an area of 74 square kilometres in southern Yukon
- Shares of Strategic Metals are unchanged at C$0.20
Strategic Metals (TSXV:SMD) has revealed that it has terminated its option agreement for the Hopper Project with Alpha Copper (CSE:ALCU).
In a news release, the company stated that terminating the agreement means Strategic Metals regains full ownership of the project without any underlying royalty interest.
Located in southern Yukon, the project includes 365 mineral claims covering an area of 74 square kilometres. Additionally, significant porphyry copper mineralization is found over a 23-kilometre-by-650-metre area that is largely untested by drilling.
Most recent drilling results from 2022 include 1.87 per cent copper and 1.04 grams per ton (g/t) gold over 15.26 metres from the Copper Castle skarn target and 0.22 per cent copper over 114.38 metres from the Hopkins North porphyry target.
The Hopkins North target covers porphyry-type copper-gold mineralization identified within a 650-by-2,300-metre area, which is associated with late phases of the Hopper Pluton.
Mineralization within the porphyry consists of vein-controlled and disseminated chalcopyrite, with lesser pyrite, pyrrhotite, magnetite and molybdenite. The best drill intersections to date consist of chlorite-altered monzonite and porphyry dykes, with zones of vein-controlled potassic alteration, indicating proximity to an untested, higher-temperature porphyry centre and the potential to discover stronger copper and gold grades.
The company also revealed the sale of its NAD property to Senoa Gold, a subsidiary of Snowline Gold (TSXV:SGD).
Strategic Metals is a project generator with 13 royalty interests, 14 projects under option to others, and a portfolio of 82 wholly owned projects.
Shares of Strategic Metals (TSXV:SMD) are unchanged at C$0.20
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