StrategX increases the size of the Nagvaak critical metals discovery on the Melville Peninsula in northern Canada

22 February 2024

Vancouver, Canada, February 22nd, 2024 - StrategX Elements Corp. (CSE: STGX) (“StrategX” or the “Company”) is pleased to announce more assay results from rock samples and drill core from its 100%-owned (2,665-hectare) Nagvaak property confirming additional zones of critical metals identified on the surface and at depth. These results expand the mineralized corridor to over 6 kilometres and correlate well with interpreted geophysical anomalies. The exploration team is focused on prioritizing drill targets and preparing a first phase of drilling to potentially define a large polymetallic deposit in nickel, copper, vanadium, molybdenum, zinc, and precious metals.

Exploration Highlights

  • Assay results confirm the continuity of mineralized zones containing critical metals in a corridor having dimensions approximately 6km by 500m and open in multiple directions.
  •  Highly anomalous polymetallic results in 33 out of 45 surface rock samples including notable high values in copper, nickel, molybdenum, vanadium, and zinc.
  •  Drill core returned anomalous polymetallic values in multiple intervals near the surface in hole 3 and deeper in hole 7, confirming mineralization at the surface continues at depth.
  •  Similar mineralization style was observed in the drill core reported in hole 14 located 2.3km west: 58 metres of 2.63% copper-equivalent .
  •  Detailed drill core studies including graphitic carbon assay results and petrography characterizing the mineralogy are pending.

Prospecting Program

Surface sampling in conjunction with diamond drill core review and sampling supports continuity along strike length and at the depth of the Nagvaak mineralized zones. Figure 1 shows the location of the new rock grab sample assay results. Highly anomalous rock samples are consistently found in gossanous graphitic schist outcrop areas, which coincides with geophysical conductivity and magnetic anomalies. These results will assist in prioritizing drill targets. Detailed sample assay results are displayed in Table 2. Notable statistics from this program include the following:

  •  45 surface rock samples taken
  •  Silver (Ag) - 10 samples > 10 g/t, up to 44.5 g/t
  • Copper (Cu) - 17 samples > 0.2% including 9 > 0.3%, up to 1.09%
  • Molybdenum (Mo) - 34 samples > 0.025%, including 10 > 0.05%, up to 0.194%
  • Nickel (Ni) - 13 samples > 0.25%, up to 0.46%
  •  Vanadium (V) - 27 samples > 0.2%, including 11 > 0.3%, up to 0.498%
  •  Zinc (Zn) - 8 samples > 0.5%, up to 13.05%

Drill Core Sampling Program

In addition to the previously released holes 1 and 2 on this section, hole 3 up-dip and hole 7 down- dip of the projected mineralized zone were sampled. Figure 2 displays the results of the six additional zones of the observed mineralized core.

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