Poland

Exploration Potential (Within Concession)

(i) Copper Targets & MM2

Assessment of geological and assay data from historical drilling, especially from diamond drill holes PZ40 and PZ28, together with the recent deposit’s mineralisation model produced by SMG Consultants, suggests that the Myszkow mineral system extends beyond the currently known granodiorite/porphyry controlled Mo-Cu Myszkow deposit. Potential for further molybdenum and copper mineralisation in adjacent metasediment/black schist profile is shown in drill holes PZ40 and PZ28. In particular, a possibility for a higher grade copper domain within the upper part of this profile (to a depth of approximately 700m) is demonstrated from the assay data.

Drill hole PZ28 includes:

  • 0.30% Cu - 4.70% Cu at 287.5m – 325.5m depth,
  • 0.35% Cu - 1.20% Cu at 381.0m – 387.5m, and
  • 0.30% Cu - 3.04% Cu at 648.0m – 659.0 m.

Drill hole PZ40 includes:

  • 47.5m (299.5m – 347.5m) intersection with 0.503% Cu average contents, including 0.803% Cu at depth 333.0m – 338.5m,
  • 41.5m (369.5m – 411.0m) intersection with 0.514% Cu average contents, including 1.061% Cu at depth 402.0m - 407.5m, and
  • 5.0m (592.0m - 597.0m) intersection with 0.709% Cu average contents.

In PZ40, 166.5m (299.5m – 466.0m) of metasediment/black schist with 0.423% Cu average contents, and individual assays up to 2% Cu were reported by the Polish geological surveys. Drill holes PZ40 and PZ28 are approximately 2 km apart. These holes are situated along NW strike of an interpreted tectonic contact between metasediment/black schist lithologies, and granodiorite/porphyry intrusives of the Myszkow deposit. Encouraging correlation of copper rich zones between these two drill holes is illustrated in the figure below. Historically, the metasediments/black schist sequences were drilled by only a few holes and never as a conceptual copper exploration target.

Strzelecki’s recently drilled MM2 hole is located about 400m east of PZ40. Geological profile intersected in the hole includes 187m of overburden, and 830m of mineralised basement rocks. These include about 661m profile of metasediment/black schist, and about 167m granodiorite in the bottom part of the hole. Both lithologies carry mineralisation.

Assay analysis of 1165 samples from 806m of drill core was recently carried out by ALS Chemex Laboratory (Vancouver). The results show the presence of molybdenum (molybdenite) and copper (chalcopyrite, pyrite and minor bornite), as well as tungsten (scheelite) and silver mineralisation over the length of the hole, including a number of higher grade zones. Molybdenum mineralisation is open and strengthening at depth.

Selected molybdenum-copper assay intervals of interest include:

  • 2m @ 0.094% Mo from 227m
  • 2m @ 0.101% Mo from 288m
  • 3m @ 0.089% Mo, 0.35% Cu from 370.5m
  • 4m @ 0.086% Mo, 0.17% Cu from 575.5m
  • 1m @ 0.21% Mo, 0.31% Cu from 587.5m
  • 10m @ 0.12% Mo, 0.20% Cu from 660m
  • 4m @ 0.13% Mo, 0.05% Cu from 686m
  • 8m @ 0.17% Mo, 0.17% Cu from 700m
  • 18m @ 0.045%Mo, 0.16% Cu, 7.6 g/t Ag from 802m
  • 19m @ 0.089% Mo, 0.36% Cu, 2.01 g/t Ag from 846m o Including 7m @ 0.15% Mo, 0.35% Cu from 855m
  • 13m @ 0.057% Mo, 0.21% Cu, 3.33 g/t from 872m
  • 16m @ 0.081% Mo, 0.22%Cu from 902m o Including 5m @ .165% Mo, .26% Cu from 902m
  • 31m @ 0.066% Mo, 0.13% Cu from 936m o Including 7m @ 0.11% Mo, 0.16% Cu from 936m o Including 7m @ 0.08% Mo, 0.13% Cu from 960m

Selected copper – molybdenum assays include the following intervals:

  • 2m @ 1.10% Cu, .079% W, 6.5g/t Ag from 380m
  • 1m @ 1.12% Cu, 18g/t Ag from 407.5m
  • 1/2m @ 0.69% Cu, 0.095% Mo, 22.6 g/t Ag from 570.5m
  • 1m @ 0.78% Cu, .099% Mo, 4 g/t Ag from 610m
  • 1m @ 0.80% Cu, 3.5g/t Ag from 615m
  • 5m @ 0.60% Cu, 0.030% Mo, 3.2g/t Ag from 847m
  • 1m @ 0.80% Cu, 0.099% Mo, 4.1 g/t Ag from 856.5m
  • 1/2m @ 0.58% Cu, 28.2 g/t Ag from 882m

The geological data obtained from MM2 demonstrates that the intersected metasediment/black schist dominant geological and molybdenum-copper mineralisation profile is similar in style to those of PZ40, some 400m to the south-west, and PZ28 which is located about 2 km to southeast. With regards to copper, both vein controlled and disseminated mineralization are present.

The MM2 drilling was to test north-eastern margin of the metasediment/black schist lithologies north-east of the line PZ40 and PZ28, which were thought to follow the NE trending tectonic structure along the contact with granodiorite of the Myszkow deposit.

(ii) ZW1

Most recently, Strzelecki Metals completed an exploration hole ZW1 to test the mineralization potential of a gravity anomaly located about 10km north-east of the Myszkow Deposit. The assay results conducted by ALS Chemex in Vancouver indicate presence of Mo, Cu, W, and Ag mineralisation. The drill hole intersected 479m of overburden, and beneath 321m of mineralised basement sequences. The total depth of the drill hole is 800m. Assays from ZW1 show further potential for occurrence of significant mineralisation in other areas within the held concession. An upcoming detailed geophysical survey will determine future drilling targets within the vicinity of ZW1.

Elevated levels of mineralisation include:

  • 2m at .087% Mo from 481m
  • 2m at 10.5g/t Ag from 644m
  • 2m at .38% Mo from 650m,
  • 12m at .043% Mo from 736m o Including 2m at .15% Mo from 736m
  • 2m at .47% Cu, .06% W from 750m

Strzelecki remains optimistic that this highly unexplored region of the concession has potential to host a large poly-metallic mineralisation system.

The figure below shows the concession area (234 km2) and negative gravity anomaly pattern with drill holes location (MM1, MM2 and ZW1).