VANCOUVER, May 31, 2012 /CNW/ - Rackla Metals Inc. (TSX-V: RAK) is pleased to report that Strategic Metals Ltd. has announced 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 (full details of the option agreement can be found in the Rackla and Strategic news releases both dated April 2, 2012).
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.
Roger Hulstein, BSc, P.Geo., is a member of the Association of Professional Engineers and Geoscientists of British Columbia and is the Company's Qualified Person as defined by National Instrument 43-101. Mr. Hulstein is responsible for the accuracy of the technical information in this news release.
Rackla Metals controls a portfolio of promising gold projects across Yukon Territory, including two extensive claim blocks in the Rackla belt -an emerging trend of Carlin type gold systems in east-central Yukon- and the Sixty Mile project near Dawson City. The Company anticipates drilling on three of its projects during 2012.
ON BEHALF OF THE BOARD
President and CEO
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
Some of the statements in this news release contain forward-looking information that involves inherent risk and uncertainty affecting the business of the Company. Actual results may differ materially from those currently anticipated in such statement.
For further information:
Jaclyn Ruptash, 604.801.5432, Jaclyn@goldgroup.com