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Metal Stocks June 01, 2012 03:37:36 AM

Strategic Metals to drill Rackla's Scarlet East project

Paul Ploumis
ScrapMonster Author
Rackla Metals Inc. (TSX-V: RAK) has report that Strategic Metals Ltd. plans to drill Rackla's Scarlet East project during the 2012 exploration season.

VANCOUVER (Scrap Monster): Rackla Metals Inc. (TSX-V: RAK) has report that Strategic Metals Ltd. plans to drill Rackla's Scarlet East project during the 2012 exploration season.

Strategic optioned the property in April 2012, for a total of $5,000,000 in exploration expenditures to be spent on the property by 2016 and drill commitments of at least 1,000 m in 2012, and can earn a 60% undivided interest.

The Scarlet East property consists of 230 Yukon Quartz claims covering 48 sq km of prospective ground in the Rackla Gold Belt of eastern Yukon. Located 10 km ESE of ATAC Resources Ltd.'s Osiris, Conrad, Isis, and Isis East discoveries, the Scarlet East property adjoins onto ATAC's claims along strike of the Dawson Thrust, a major fault that bounds ATAC's discoveries, and consists of the same favourable, off-shelf carbonate-bearing stratigraphy.

Strategic's 2012 exploration program at Scarlet East will consist of a first-pass drilling program to target a series of northwest-trending gold and pathfinder soil anomalies associated with gossanous carbonate stratigraphy and a prominent southeast-trending anticline outlined in 2011.

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