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Strategic Resources Announces Initial Akanvaara Vanadium Drill Results

Highlights:

AK19-01: 24.3 metres of 0.49% V2O5; including 7.3 metres of 0.76% V2O5
AK19-02: 23.5 metres of 0.48% V2O5; including 6.5 metres of 0.77% V2O5
AK19-03: 23.5 metres of 0.45% V2O5; including 6.0 metres of 0.72% V2O5
AK19-04: 25.7 metres of 0.46% V2O5; including 7.0 metres of 0.73% V2O5

VANCOUVER , Aug. 8, 2019 /CNW/ - Strategic Resources Inc. (TSXV: SR) (the "Company" or "Strategic") 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

 

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

Quality Assurance

All Strategic sample assay results have been monitored through a quality control / quality assurance ("QA/QC") 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. (TSXV:SR) 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.

Further details are available on the Company's website at https://strategic-res.com/.

To follow future news releases, please sign up at https://strategic-res.com/contact/.

STRATEGIC RESOURCES INC.

Signed: "Scott Hicks"

Scott Hicks , CEO

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 news release.

Cautionary Note Regarding Forward-Looking Information

Certain statements and information herein, including all statements that are not historical facts, contain forward-looking statements and forward-looking information within the meaning of applicable securities laws. Such forward-looking statements or information include but are not limited to statements or information with respect to Strategic drilling 1,200 metres at the Akanvaara project, finishing holes eight and nine and completing magnetic separation tests on the first seven drill holes. Often, but not always, forward-looking statements or information can be identified by the use of words such as "will" or variations of similar words and phrases or statements that certain actions, events or results "will" be taken, occur or be achieved.

SOURCE Strategic Resources Inc.


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