Vancouver, Canada, December 3, 2024 – StrategX Elements Corp. (CSE: STGX) (“StrategX” or the “Company”) has mobilized and established key logistics for its 2025 exploration program at the Nagvaak Project (“Nagvaak”). Nagvaak represents a geological discovery with the potential to delineate a significant critical metals deposit on the Melville Peninsula. New regional exploration efforts and recently analyzed data have also highlighted a series of additional prospective targets.
Key Developments:
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New Regional Targets Identified: Recent surface exploration efforts have identified additional critical metals targets (copper, nickel, vanadium, cobalt and graphite) within a 200 km by 100 km area in the same sedimentary belt hosting Nagvaak, showcasing the region’s substantial untapped potential. (See Figure 1.)
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Drill Site & Base Camp: The Company has successfully positioned a drill rig at the first priority target site and completed the establishment of a base camp to support the 2025 drill campaign at Nagvaak. (See Figure 2.)
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Supply Chain Established: Three container shipments of equipment and materials were delivered to the Melville Peninsula in September and October, ensuring a robust inventory to support future exploration activities.
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Community Engagement: StrategX continues fostering strong relationships with local communities, prioritizing local employment and partnering with an Inuit-owned company to manage the camp and provide logistical support.
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Operational Planning: Final preparations are underway to secure contractors for the 2025 exploration program, utilizing innovative and cost-effective approaches to maximize operational efficiency and extend the exploration season.
Blaine Bailey – Financial & Accounting
Mr. Bailey is a Chartered Professional Accountant, CGA working with public and private companies listed on the TSX, TSXV and NYSE over the past 20 years. He brings complementary skills to the team in the areas of finance, administration, and financial reporting. Blaine is the CFO of GR Silver Mining Ltd, VR Resources Ltd, American Copper Development Corporation, Aztec Minerals Corp, and Panorama Capital Corp. (CPC). He received his Bachelor of Commerce degree (Honours) from the University of Manitoba in 1977 and qualified for the CPA, CGA designation in British Columbia in 1983. He also served in the capacity of accountant for Molson Brewery B.C. Ltd. and was controller for Nabob Coffee Co. with head offices in Zurich, Switzerland.
John Land – Project Field Operations
Mr. Land has over four decades of expertise in the energy sector. With a rich background in pioneering innovative exploration and production ventures, he adeptly navigates and mitigates risks while maximizing operational efficiency. John’s extensive experience spans many decades of drilling in remote locales, where his strategic approach has consistently yielded successful outcomes. Moreover, his approach in fostering collaborative relationships with diverse stakeholders, including industry counterparts and indigenous communities, underscores his commitment to responsible resource development. He will play a role alongside the exploration project leaders and the VP of Exploration as we advance our field programs.
StrategX is focused on advancing Nagvaak as its flagship project, aiming to define a world-class critical metals deposit in Canada. With the summer financing having raised $4.5 million (see StrategX news release June 25th, 2024), the Company is well positioned to achieve its objectives, supporting both the global green energy transition and national supply chain security.
The establishment of a field base camp on the Melville Peninsula (see Figure 3.) is essential to support the success of future exploration programs developing a new critical metals province in Canada. This underexplored region exhibits geological similarities to other Proterozoic sedimentary belts hosting large-scale critical mineral deposits, providing a strong foundation for future discoveries.
StrategX filed its third-quarter results on November 29th, 2024, on SEDAR.
