Quest Critical Metals Confirms Licence Renewals of Czech and German Exploration Licences, Commencement of Negotiations with Local Drilling Company and EU Funded Geochemical Program
Quest Critical Metals (CSE: BULL) (OTC: DCNNF) has successfully renewed all exploration licenses due to expire in 2024 in both the Czech Republic and Germany. The company has selected and begun negotiations with a local drilling company for a Spring drilling program. Additionally, through an EU-funded project using AI and data analysis (EIS software), a new prospective location has been identified within the license areas.
A geochemical soil sampling survey will be conducted simultaneously with the Spring 2025 drilling program, with all costs covered by EU grants. Following a strategic review due to weakness in the lithium market, increased local taxes, and unexpected future costs, the company has decided to relinquish its Brazilian lithium licenses to focus on the Tisova/Klingenthal projects.
Quest Critical Metals (CSE: BULL) (OTC: DCNNF) ha rinnovato con successo tutte le licenze di esplorazione in scadenza nel 2024 sia nella Repubblica Ceca che in Germania. L'azienda ha selezionato e avviato negoziati con una compagnia di perforazione locale per un programma di perforazione primaverile. Inoltre, grazie a un progetto finanziato dall'UE che utilizza l'IA e l'analisi dei dati (software EIS), è stata identificata una nuova area prospettica all'interno delle zone di licenza.
Un'indagine sui campioni di suolo geochimico sarà condotta simultaneamente con il programma di perforazione primaverile del 2025, con tutti i costi coperti da sovvenzioni dell'UE. A seguito di una revisione strategica a causa della debolezza del mercato del litio, dell'aumento delle tasse locali e dei costi futuri imprevisti, l'azienda ha deciso di rinunciare alle sue licenze di litio in Brasile per concentrarsi sui progetti di Tisova/Klingenthal.
Quest Critical Metals (CSE: BULL) (OTC: DCNNF) ha renovado con éxito todas las licencias de exploración que expiran en 2024 tanto en la República Checa como en Alemania. La empresa ha seleccionado y comenzado negociaciones con una empresa local de perforación para un programa de perforación en primavera. Además, a través de un proyecto financiado por la UE que utiliza inteligencia artificial y análisis de datos (software EIS), se ha identificado una nueva ubicación prospectiva dentro de las áreas de licencia.
Se llevará a cabo una encuesta de muestreo de suelo geoquímico simultáneamente con el programa de perforación de primavera de 2025, con todos los costos cubiertos por subvenciones de la UE. Tras una revisión estratégica debido a la debilidad en el mercado del litio, el aumento de impuestos locales y costos futuros inesperados, la empresa ha decidido renunciar a sus licencias de litio en Brasil para centrarse en los proyectos de Tisova/Klingenthal.
Quest Critical Metals (CSE: BULL) (OTC: DCNNF)는 2024년 만료될 모든 탐사 라이센스를 체코 공화국과 독일에서 성공적으로 갱신했습니다. 회사는 봄 시추 프로그램을 위해 현지 시추 회사와 협상에 들어갔습니다. 또한, 인공지능과 데이터 분석(EIS 소프트웨어)을 사용하는 EU 자금 지원 프로젝트를 통해 라이센스 지역 내에서 새로운 잠재 위치가 확인되었습니다.
2025년 봄 시추 프로그램과 동시에 지화학적 토양 샘플링 조사가 실시되며, 모든 비용은 EU 보조금으로 충당됩니다. 리튬 시장의 약세, 증가하는 지방세 및 예기치 않은 미래 비용으로 인해 전략적 검토를 수행한 후, 회사는 Tisova/Klingenthal 프로젝트에 집중하기 위해 브라질 리튬 라이센스를 포기하기로 결정했습니다.
Quest Critical Metals (CSE: BULL) (OTC: DCNNF) a renouvelé avec succès tous ses permis d'exploration arrivant à expiration en 2024, tant en République tchèque qu'en Allemagne. L'entreprise a sélectionné et commencé des négociations avec une entreprise de forage locale pour un programme de forage au printemps. De plus, grâce à un projet financé par l'UE utilisant l'IA et l'analyse de données (logiciel EIS), un nouvel emplacement prospectif a été identifié au sein des zones de permis.
Une enquête de prélèvement de sol géochimique sera réalisée en même temps que le programme de forage de printemps 2025, tous les coûts étant couverts par des subventions de l'UE. Suite à une révision stratégique en raison de la faiblesse du marché du lithium, de l'augmentation des taxes locales et de coûts futurs inattendus, l'entreprise a décidé de renoncer à ses permis de lithium brésiliens pour se concentrer sur les projets de Tisova/Klingenthal.
Quest Critical Metals (CSE: BULL) (OTC: DCNNF) hat erfolgreich alle Explorationslizenzen verlängert, die 2024 in der Tschechischen Republik und Deutschland auslaufen. Das Unternehmen hat ein lokales Bohrunternehmen ausgewählt und Verhandlungen für ein Bohrprogramm im Frühling aufgenommen. Darüber hinaus wurde durch ein von der EU gefördertes Projekt, das KI und Datenanalyse (EIS-Software) nutzt, ein neuer potenzieller Standort innerhalb der Lizenzgebiete identifiziert.
Eine geochemische Bodenprobenuntersuchung wird gleichzeitig mit dem Bohrprogramm im Frühling 2025 durchgeführt, wobei alle Kosten durch EU-Zuschüsse gedeckt werden. Nach einer strategischen Überprüfung aufgrund der Schwäche des Lithiummarktes, erhöhter lokaler Steuern und unerwarteter zukünftiger Kosten hat das Unternehmen beschlossen, seine brasilianischen Lithiumlizenzen aufzugeben, um sich auf die Projekte Tisova/Klingenthal zu konzentrieren.
- Successful renewal of all exploration licenses in Czech Republic and Germany
- EU grant funding covering all costs of geochemical work and lab reports
- AI-powered software identified new prospective location within existing license areas
- Relinquishment of Brazilian lithium licenses due to market weakness and increased costs
- Increased local taxes and unexpected future costs affecting operations
Vancouver, British Columbia--(Newsfile Corp. - January 24, 2025) - Quest Critical Metals Inc (CSE: BULL) (OTC Pink: DCNNF) (FSE: DCR0) ("Quest Critical Metals" or the "Company") announces that all its exploration licences, that were due to expire in 2024, have been renewed both in the Czech Republic and in Germany. A local drilling company has been selected, and negotiations have now commenced for the Spring drilling program that will commence as soon as the weather conditions allow.
As per the Company's Press Release of December 3, 2024, the testing of the EIS software (Exploration Information Systems, EU grant funded project) identified, using AI and data analysis, a new prospective location with the licence areas. Therefore, a geochemical (soil sampling) survey will be carried out on this area by the Company and its EIS Partners at the same time as the Spring 2025 drilling program. All the costs of this geochemical work, including lab reports, will be covered by the EU grant.
Following the ongoing weakness in the lithium market, an increase in local taxes and further unexpected future costs the Company carried out a strategic review of the Brazilian exploration licences. It was felt that given the ongoing successes at Tisova/Klingenthal, particularly with the EU grant funded projects, it was best to focus all the Company's efforts in this area and therefore has relinquished the lithium licence areas.
James Newall, President and CEO, commented: "Extending our licences in both countries required us to demonstrate to the relevant authorities a clear plan and the potential of those licence areas. I am delighted to say that we achieved that and would like to thank our team in the Czech Republic and Beak Consultants for their hard work. Now we can formally engage a drilling contractor and we are very excited to soon drill the large geophysical anomaly that has been assessed to be a VMS. The EU funded geochemical program is an added bonus as it is in an untested area that has been identified as prospective by the EIS software."
Quest Critical Metals Inc.
James Newall, President and CEO
T: (604) 639-4472
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FAQ
What exploration licenses did Quest Critical Metals (DCNNF) renew in 2024?
When will Quest Critical Metals (DCNNF) begin its Spring 2025 drilling program?
Why did Quest Critical Metals (DCNNF) relinquish its Brazilian lithium licenses?
What is the EU-funded EIS software project revealing for DCNNF's exploration?
