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Strategic Metals Ltd. has entered a property option agreement with Benjamin Hill Mining Corp. for a 60% interest in the Alotta project in Yukon. This un-drilled porphyry prospect shows a significant copper, gold, and molybdenum anomaly over 4 km by 1 km. Benjamin is required to pay $500,000 by January 2028 and invest $11 million in exploration by the end of 2027. Upon exercising the option, a joint venture will be formed to explore the property further. Strategic holds a cash position of approximately $3.6 million and various significant investments in other mining companies, enhancing its growth potential.
Benjamin Hill Mining Corp. (CSE: BNN, OTCBB: BNNHF) reports progress on its Sonora Gold project, completing three of 34 planned drill holes. The inaugural drill program aims to identify mineralized structures across four areas. The first two holes focused on the Sonora Copper vein, while the third targeted the Caracahui area. Samples from the initial hole have been sent for analysis, with results expected soon. The company has also rehabilitated roads and constructed drill pads while adhering to COVID-19 safety protocols to ensure uninterrupted operations.