A greener future is digital and electric, which requires electricity storage and batteries.
Since the current battery and other green energy technology require certain metals and minerals, there is a global race to source elements such as cobalt, nickel, graphite, and copper.
Such is the demand that the Canadian government identified 32 critical minerals crucial to a green energy transition, saying in its strategy document: “Critical minerals represent a generational opportunity for Canada’s workers, economy and net-zero future... Simply put, there is no energy transition without critical minerals.”
As well, the International Energy Agency reports: “Solar photovoltaic plants, wind farms and electric vehicles generally require more minerals to build than their fossil fuel-based counterparts. A typical electric car requires six times the mineral inputs of a conventional car and an onshore wind plant requires nine times more mineral resources than a gas-fired plant.”
StrategX Elements Corp. STGX believes it has a role to play in an electric future by sourcing critical minerals in Canada’s North.
Promising results for critical minerals in Canada’s North
A Vancouver, based exploration company, StrategX is poised to become a significant contributor to the natural resources sector and sustainable energy economy with key drilling projects planned in Nunavut and Northwest Territories, most importantly its flagship Nagvaak project, which is located on the Melville Peninsula in Nunavut and for which a drill program is planned.
“The future of Nagvaak is based on us completing more drilling to determine the potential at depth,” says Darren Bahrey, StrategX Co-Founder, who serves as its CEO, President, and Director.
A historical drill core left behind by the company BHP returned, after his company’s testing, 58 metres of 2.63 percent copper equivalent, he says. StrategX recently announced additional core assay results also suggest the potential mineralized area is over two kilometres long.
Mr. Bahrey says in mineral exploration, a size of even 500 metres is considered large and explains that copper equivalent includes significant concentrations of nickel, vanadium oxide, copper, molybdenum, zinc, silver, and platinum group elements as well as gold. He also notes that over 2 percent copper equivalent is significant especially when it is close to the surface.
“It shows that Nagvaak is a big mineral system at the surface with good grades, and it’s there waiting,” he says. “The next step is drilling…. We believe we’ve got a potentially large resource to define in these energy transition metals.”
“We’re very fortunate to be in this position to be able to unlock this potential… This area has a basket of these important metals just waiting to be discovered.”
Photo: Melville Peninsula, Nunavut.
Research, demand and experience are StrategX’s backbone
StrategX’s exploration, led by Darren Bahrey and Co-Founder Adam Vary, the company’s Chief Technical, targeting new regions in northern Canada was based on research and reviewing historical data from prior major mining companies as well as new data generated by government-funded regional exploration studies by Geological Survey of Canada.
The North is considered an under-explored and unrecognized frontier and one of the few places on the planet to discover energy transition metals, Bahrey says, noting cobalt — which the International Energy Agency reports is among the materials “crucial to battery performance, longevity and energy density” — is the target of several other StrategX drilling projects (Project 939, EA South, Project Mel and Project Tasijuaq).
All of this shows StrategX Elements Corp. as a promising long-term investment, says Sid Rajeev, Vice-President, and Head of Research with Fundamental Research Corp. (FRC)
He said mineral exploration is “a highly speculative space” in which to invest but, in that realm, FRC believes StrategX shows potential based on its findings to date, the locations it’s exploring and the metals it’s targeting.
Furthermore, Rajeev emphasizes the critical role of the team and highlights Bahrey's wealth of experience as a geologist, including his background with Placer Dome. He also notes that StrategX management has skin in the game as owners of large quantities of stocks. (Bahrey says he holds more than 15 percent while family and friends own double that.)
The CEO acknowledges the company is “not a market play but a long-term play” and says, “for me, it’s all about the goods first — have the assets first and show something. Let the market rock and roll after that.”
Getting those assets is key, and the focus now is drilling out a potentially large resource in energy transition metals at Nagvaak.
As the government’s projections show, “the global demand for critical minerals and the manufactured products they go into is required to increase significantly in the coming decades to enable the transition to a green and digital economy.”
“Electrification is the reality,” Bahrey says. “We’re the guys to play a role in that. We’re upstream from the miners and battery makers, but we’re the ones to discover these critical minerals, these important metals for the green technologies.”
Learn more about StrategX Elements Corp. on its website as well as:
This post was authored by an external contributor and does not represent Benzinga's opinions and has not been edited for content. This content contains sponsored advertising content and is for informational purposes only and not intended to be investing advice.
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