20 January 2022
Vancouver, British Columbia--(Newsfile Corp. - January 20, 2022) - StrategX Elements Corp. (CSE: STGX) ("StrategX" or the "Company"), is pleased to introduce the first of its properties located on the East Arm of the Great Slave Lake, 235km east of Yellowknife, Northwest Territories. The 939 Cobalt project is a grassroots discovery made in 2018 through StrategX's generative efforts in the region. The Company is currently prioritizing targets to complete a 1st phase discovery drill program which will commence upon receiving permits.
StrategX successfully listed on January 10th, 2022, and its shares are now trading on the Canadian Securities Exchange (the "CSE") under the symbol "STGX."
Discoveries of cobalt are rare and cobalt as a critical mineral is strategically important to the natural resources industry in Canada.
The 939 Cobalt property comprises 6,700 hectares of claims and includes a much larger prospecting permit area. Permits are different from claims in that they are less expensive to maintain and allow the operator several years to reduce and select the areas of interest. The Company's focus to date has been on its claims which center in an area known as Misty Lake located 18 km north of the East Arm of the Great Slave Lake.
StrategX completed a regional-scale surface sampling program including lake sediment, till and rock samples. Previous surface sampling programs were carried out by Kennecott during the 1990's and by the Geological Survey of Canada showing the presence of anomalous cobalt in lake sediment and till samples. StrategX's generative team focused on determining the source of these elevated cobalt values by prospecting up-ice from where the high cobalt samples were found. One of StrategX's initial lake sediment samples returned a very high value of 939 ppm cobalt (hence the project name). This led to identifying a large, km-scale target area in Misty Lake located approximately 5 km to the northeast of the 939 ppm cobalt anomaly. A property scale map of the cobalt anomalies can be viewed at this link: https://www.strategxcorp.com/projects/project-939/#939-property-maps
Assay results greater than 200 ppm cobalt in lake sediments is considered anomalous by industry standards, while >1,000 ppm is considered extremely high and not common. Exploration programs to date have returned numerous samples with values over 200 ppm cobalt. Sampling in Misty Lake returned numerous elevated values greater than 400 ppm up to 4,900 ppm cobalt defining a northeast- trending trench-like feature. Table 1 below shows the highest cobalt values in lake sediment samples returned to date. A detailed map of the Misty Lake cobalt target anomaly can be viewed at this link: https://www.strategxcorp.com/projects/project-939/#misty-lake
Table 1: 20 highest cobalt values from 122 lake sediment samples collected by StrategX on the 939 project
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