News: Strategic Minerals Corporation intersects meaty 92 metres at 2.3g/t gold

Strategic Minerals Corporation (ASX:SMC) has had a significant drill hit while completing infill and extensional gold drilling at the Big Vein South prospect within its Woolgar project in Queensland.

Results of the first 6 holes included one of 92 metres at 2.3 g/t gold from 136 metres.

Another saw 83 metres at 2.9 g/t gold from 164 metres and 87 metres at 2 g/t gold from 162 metres.

Mineralisation is characterised as high-grade lenses within a larger, lower-grade mineralised envelope, and some show a separation of hangingwall and footwall zones of higher-grade mineralisation.

Although the complete results have yet to be received, the program has successfully delineated a volume of extended mineralisation.

It is expected that the Woolgar goldfield area will continue to show further potential for resource and target expansion with only a small proportion of vein-hosting areas having been explored to date.

Assays for 8 further holes are still pending, and once all results are received, a new resource estimate will be calculated.

Planning for a second phase of drilling is underway, as is magnetometry to improve target definition.