Hertz Energy Acquires Lake George Antimony Property in New Brunswick
Hertz Energy Inc. (CSE: HZ) (OTCQB: HZLIF) has acquired the Lake George Antimony Property in New Brunswick, Canada. The property, comprising 93 mineral claims over 2,104.5 hectares, surrounds the former Lake George Antimony Mine, once North America's largest antimony producer. The acquisition includes 10 km of strike length along favorable sediments near an intrusive contact.
The historical Lake George Mine produced 34,417 tonnes of 65-66% Sb concentrate from 1972-1981 and approximately 1 Mt grading 4% Sb from 1985-1990. The property shows potential for antimony, gold, molybdenum, and tungsten mineralization. Hertz Energy is in discussions with New Brunswick officials about a possible tender of the mine lease.
Hertz Energy Inc. (CSE: HZ) (OTCQB: HZLIF) ha acquisito la proprietà di antimonio Lake George nel New Brunswick, Canada. La proprietà, composta da 93 concessioni minerarie su 2.104,5 ettari, circonda l'ex miniera di antimonio Lake George, un tempo il più grande produttore di antimonio in Nord America. L'acquisizione include 10 km di estensione lungo sedimenti favorevoli vicino a un contatto intrusivo.
La storica miniera di Lake George ha prodotto 34.417 tonnellate di concentrato di Sb al 65-66% dal 1972 al 1981 e circa 1 Mt con una gradazione del 4% di Sb dal 1985 al 1990. La proprietà mostra potenziale per mineralizzazione di antimonio, oro, molibdeno e tungsteno. Hertz Energy è in contatto con funzionari del New Brunswick riguardo a una possibile gara per il contratto di locazione della miniera.
Hertz Energy Inc. (CSE: HZ) (OTCQB: HZLIF) ha adquirido la propiedad de antimonio Lake George en New Brunswick, Canadá. La propiedad, que comprende 93 reclamos minerales sobre 2,104.5 hectáreas, rodea la antigua mina de antimonio Lake George, que fue el mayor productor de antimonio en América del Norte. La adquisición incluye 10 km de longitud de strike a lo largo de sedimentos favorables cerca de un contacto intrusivo.
La histórica mina Lake George produjo 34,417 toneladas de concentrado de 65-66% de Sb desde 1972 hasta 1981 y aproximadamente 1 Mt con una ley del 4% de Sb desde 1985 hasta 1990. La propiedad muestra potencial para mineralización de antimonio, oro, molibdeno y tungsteno. Hertz Energy está en discusiones con funcionarios de New Brunswick sobre una posible licitación del contrato de arrendamiento de la mina.
Hertz Energy Inc. (CSE: HZ) (OTCQB: HZLIF)가 캐나다 뉴브런즈윅에 있는 레이크 조지 안티몬리 속성을 인수했습니다. 이 속성은 2,104.5 헥타르에 걸쳐 93개의 광물 청구서로 구성되어 있으며, 북미에서 가장 큰 안티몬 생산지였던 레이크 조지 안티몬 광산을 둘러싸고 있습니다. 인수에는 10km의 스트라이크 길이가 포함되어 있으며, 침입 접촉 근처의 유리한 퇴적물을 따라 있습니다.
역사적인 레이크 조지 광산은 1972년부터 1981년까지 34,417톤의 65-66% Sb 농축물을 생산하였고, 1985년부터 1990년까지 약 1Mt의 Sb 4% 등급을 생산하였습니다. 이 속성은 안티몬, 금, 몰리브덴, 텅스텐 광화에 대한 잠재력을 보여줍니다. Hertz Energy는 광산 임대 계약에 대한 가능한 입찰에 대해 뉴브런즈윅 관계자들과 논의 중입니다.
Hertz Energy Inc. (CSE: HZ) (OTCQB: HZLIF) a acquis la propriété d'antimoine Lake George dans le New Brunswick, au Canada. La propriété, composée de 93 claims miniers sur 2 104,5 hectares, entoure l'ancienne mine d'antimoine Lake George, qui était autrefois le plus grand producteur d'antimoine d'Amérique du Nord. L'acquisition comprend 10 km de longueur de diffraction le long de sédiments favorables près d'un contact intrusif.
La mine historique de Lake George a produit 34 417 tonnes de concentré de 65-66 % Sb de 1972 à 1981 et environ 1 Mt avec une loi de 4 % Sb de 1985 à 1990. La propriété montre un potentiel pour minéralisation d'antimoine, d'or, de molybdène et de tungstène. Hertz Energy est en discussion avec des responsables du New Brunswick concernant un éventuel appel d'offres du bail de la mine.
Hertz Energy Inc. (CSE: HZ) (OTCQB: HZLIF) hat die Lake George Antimon-Liegenschaft in New Brunswick, Kanada, erworben. Die Liegenschaft, bestehend aus 93 Bergbaurechten auf 2.104,5 Hektar, umgibt die ehemalige Lake George Antimon-Mine, die einst der größte Antimonproduzent in Nordamerika war. Der Erwerb umfasst 10 km Streichen entlang vorteilhafter Sedimente in der Nähe eines intrusiven Kontakts.
Die historische Lake George Mine produzierte 34.417 Tonnen mit 65-66% Sb Konzentration von 1972 bis 1981 und ungefähr 1 Mt mit 4% Sb Gehalt von 1985 bis 1990. Die Liegenschaft zeigt Potenzial für Antimon-, Gold-, Molybdän- und Wolframmineralisierung. Hertz Energy führt Gespräche mit Beamten von New Brunswick über eine mögliche Ausschreibung für den Pachtvertrag der Mine.
- Acquisition of a property surrounding a historically significant antimony mine
- Property includes 10 km of strike length along favorable geological formations
- Excellent infrastructure including road access and hydroelectric power
- Potential for multiple valuable minerals: antimony, gold, molybdenum, and tungsten
- 100% interest acquired through staking with no underlying agreements or royalties
- The Lake George Mine is currently under care and maintenance, not in production
- Antimony prices were historically volatile, leading to the mine's closure in 1996
- Acquisition is still in early exploration stage, requiring significant investment for development
Vancouver, British Columbia--(Newsfile Corp. - September 16, 2024) - Hertz Energy Inc. (CSE: HZ) (OTCQB: HZLIF) (FSE: QX1) ("Hertz" or the "Company") is pleased to announce the acquisition of the Lake George Antimony Property ("Lake George" or the "Property") located in the Province of New Brunswick. The Property is located in the southwestern part of the province, approximately 30 km southwest of the city of Fredericton.
The Property is comprised of 93 mineral claims within two claim blocks recently staked by the Company for a total area of approximately 2,104.5 hectares. The Property surrounds the past-producing Lake George Antimony Mine ("Lake George Mine") and is considered an exploration-stage Antimony-Gold (Sb-Au) prospect located immediately along strike to the southwest and northeast, as well as downdip to the north of the historical Lake George Mine. The Property benefits from excellent road access, hydroelectric power, and nearby available personnel for field and exploration activities.
The Lake George Mine was formerly the largest antimony producer in North America with a long history of production spanning from 1876 to 1996. The mine closed in 1996 due to falling antimony prices. From 1972 to 1981, 34,417 tonnes of concentrate grading
The Lake George Mine includes en-echelon gold-bearing polymetallic and antimony veins with massive stibnite hosted in Ordovician sedimentary and volcanic rocks adjacent to the Lake George granodiorite. Four (4) main antimony veins were developed at the mine, that generally have a shallow dip to the north and vary from 1 to 2 metres in width. The east-trending quartz vein system that has been traced over 1 km in depth and over 2 km along strike length (Procyshyn and Morrissy, 1990). A similar geological context of sedimentary rocks in contact with the intrusion, along with NE trending faults zones possibly responsible for developing the vein structures, is present on Hertz's newly-staked claims (Figure 2).
The Lake George Mine is currently under care and maintenance within an active mining lease and is owned by the Province of New Brunswick. Hertz Energy has started discussions with New Brunswick government officials about a possible tender of the mine lease by the Province in the coming months and awaits further feedback on next steps.
The Property claims cover approximately 10 km of strike length along the favourable sediments near the intrusive contact. The Company acquired a
The Lake George Antimony Property will undergo detailed geological database compilation along with initial prospecting and geological mapping and soil geochemistry surveys.
The Lake George Antimony Property represents the second Antimony property acquired by Hertz Energy in the past 30 days including the Harriman Antimony Property in the Gaspé Region of Québec (see Hertz news release dated September 6, 2024).
Figure 1: Antimony deposits in New Brunswick including Lake George
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Figure 2: Property Geology Map
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Figure 3: Property Claim Map
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ABOUT ANTIMONY
In August, China announced antimony export restrictions which take effect on September 15, 2024 (source: Reuters, August 28, 2024) and are expected to have significant implications for the global antimony supply chain. China's announcement of antimony export restrictions has added fuel to a red-hot market and opens another potential flash-point with the West for control of critical minerals. Antimony is a little-known metal with multiple applications. Antimony's largest end-use is as a flame retardant, but it is also found in solar panels and batteries. The U.S. Department of the Interior has designated it a critical mineral because it is also essential for armour-piercing ammunition, infrared sensors, and precision optics.
Antimony prices have nearly doubled since the start of the year to a record
Analysts estimate the market was already looking at a 10,000-ton shortfall before China's export restrictions. These new controls are not targeted at any specific country, but Chinese authorities can refuse licences to export to individual end-user companies or countries as they see fit.
Other Information on Antimony:
https://www.csis.org/analysis/chinas-antimony-export-restrictions-impact-us-national-security
https://www.antimony.com/wpfd_file/i2a-china-export-restriction-press-release-20-august-2024/
Kal Malhi, CEO of Hertz Energy commented, "With the Chinese export restrictions on Antimony effective as of September 15, 2024, and several active conflicts around the world, the need for antimony has sky rocketed along with the price of antimony. Antimony is used heavily in a variety of military applications, including night vision goggles, explosive formulations, flares, nuclear weapons production, and infrared sensors plus as a fire retardant, in solar panels and electric batteries. Hertz Energy's Lake George property acquisition in New Brunswick will allow the Company to focus on utilizing our current flow-thru cash position of approximately
QUALIFIED PERSON AND CAUTIONARY STATEMENTS
All scientific and technical information contained in this news release was reviewed and approved by Paul Teniere, P.Geo., Technical Advisor of Hertz Energy, who is a "Qualified Person" as defined in NI 43-101.
This news release contains scientific and technical information with respect to adjacent properties to the Company's properties in Lake George, which the Company has no interest in or rights to explore. Readers are cautioned that information regarding the geology, mineralization, mineral resources, and historical production on adjacent properties is not necessarily indicative of the mineralization potential on the Company's properties.
About the Company
The Company is a British Columbia based junior exploration company primarily engaged in the acquisition and exploration of energy metals mineral properties. The Company's lithium exploration projects include the AC/DC Lithium Project, and Snake Lithium Project in Jame Bay Québec. The AC/DC Project is 26,500 hectares located in the renowned James Bay Lithium District in Québec, Canada, just 26kms southeast of the Corvette Lithium Project owned by Patriot Battery Metals and is contiguous to Rio Tinto's Kaanaayaa project claims. The Companies Snake Lithium project is also district scale and located amongst highly prospective projects held by other exploration companies. Hertz Energy's Harriman Antimony Project in the Gaspe and the Lake George Antimony Project in New Brunswick are part of the company's growing Antimony portfolio.
For further information, please contact Mr. Kal Malhi or view the Company's filings at www.sedarplus.ca. and website: https://hertz-energy.com
On Behalf of the Board of Directors
Kal Malhi
Chief Executive Officer and Director
Phone: 604-805-4602
Email: kal@bullruncapital.ca
Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this news release.
Cautionary Statement Regarding "Forward-Looking" Information
This news release includes certain statements that may be deemed "forward-looking statements". All statements in this new release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/223522
FAQ
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