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Hertz Energy Inc. (HZLIF) is a British Columbia-based junior exploration company focusing on critical mineral exploration, particularly in lithium and uranium resources. The company recently entered into agreements for the development of hard rock lithium extraction technologies and strategic marketing collaborations in Europe. With a strong balance sheet and expert geological teams, Hertz aims to advance its lithium exploration projects in North America and South America while reorganizing its uranium assets into a separate entity, Hertz Uranium Inc., to unlock shareholder value.
On May 24, 2024, Hertz Energy announced the acquisition of a 100% interest in mineral claim 102722 in Nunavut, Canada, under a definitive agreement with Mike Magrum. This acquisition is significant for the Cominco Uranium Property, spanning nine blocks totaling 146.33 acres. Historical drilling by Cominco in the mid-1970s revealed promising uranium mineralization, with significant intersections grading up to 4.79 lbs U3O8/ton over 43 ft. The acquisition terms include a $2,500 cash payment and issuing up to 400,000 common shares to Mr. Magrum. Hertz Energy plans to leverage modern exploration technologies to build on these historic findings and develop the property further.
Hertz Energy Inc. has submitted applications for uranium Exclusive Prospecting Licenses (EPLs) in Namibia, a country with rich uranium mineral reserves. Namibia is a key uranium jurisdiction, boasting political stability, infrastructure, and community support for mining. The applications cover areas in Central Namibia with primary and secondary uranium deposits. The company is targeting secondary uranium mineralization with the potential for primary mineralization in the application areas. The applications were filed by Odikwa Geoservices, led by Mary Barton, a respected geologist. Hertz Energy aims to expand its presence in the green energy metals markets by entering Namibia.
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