Military Metals Acquires West Gore Past Producing Antimony Project
Military Metals Corp. (CSE: MILI) (OTC Pink: MILIF) has announced an agreement to acquire the West Gore Antimony Project in Nova Scotia, Canada. This brownfield project, with past production and high-grade drill results, aligns with the company's strategy to become a significant global antimony player. Antimony, classified as a critical mineral by several countries, has seen recent price increases due to supply constraints.
The West Gore project, located in the Meguma gold camp, consists of four exploration licenses covering 585 hectares. It includes an underground mine and large stockpiles of mineralized antimony and gold by-product. The company purchased the mineral claims from Molten Metals Corp. for $85,000 CAD. Military Metals plans to characterize the tonnage, grade, and processability of historical stockpiles, rock dumps, and tailings in the 2024 season.
Military Metals Corp. (CSE: MILI) (OTC Pink: MILIF) ha annunciato un accordo per acquisire il Progetto Antimonio West Gore in Nuova Scozia, Canada. Questo progetto brownfield, con precedenti produzioni e risultati di perforazione di alta qualità, si allinea alla strategia dell'azienda di diventare un attore significativo a livello globale nel settore dell'antimonio. L'antimonio, classificato come minerale critico da diversi paesi, ha visto recenti aumenti di prezzo a causa di vincoli di fornitura.
Il progetto West Gore, situato nel campo aurifero Meguma, consiste in quattro licenze di esplorazione che coprono 585 ettari. Include una miniera sotterranea e grandi stock di antimonio mineralizzato e sottoprodotto d'oro. L'azienda ha acquistato i diritti minerari da Molten Metals Corp. per $85,000 CAD. Military Metals prevede di caratterizzare il tonnellaggio, il grado e la processabilità degli stock storici, dei cumuli di roccia e dei tailings nella stagione 2024.
Military Metals Corp. (CSE: MILI) (OTC Pink: MILIF) ha anunciado un acuerdo para adquirir el Proyecto Antimonio West Gore en Nueva Escocia, Canadá. Este proyecto brownfield, con producción pasada y resultados de perforación de alta ley, se alinea con la estrategia de la empresa para convertirse en un jugador significativo a nivel global en el sector del antimonio. El antimonio, clasificado como mineral crítico por varios países, ha visto aumentos recientes en su precio debido a las restricciones de suministro.
El proyecto West Gore, ubicado en el campamento aurífero Meguma, consta de cuatro licencias de exploración que cubren 585 hectáreas. Incluye una mina subterránea y grandes acopios de antimonio mineralizado y subproductos de oro. La empresa compró los derechos minerales de Molten Metals Corp. por $85,000 CAD. Military Metals planea caracterizar la tonelada, el grado y la procesabilidad de los acopios históricos, los desechos de roca y los relaves en la temporada 2024.
Military Metals Corp. (CSE: MILI) (OTC Pink: MILIF)는 캐나다 노바스코샤에 있는 웨스트 고어 안티모니 프로젝트를 인수하기 위한 합의를 발표했습니다. 이 브라운필드 프로젝트는 과거 생산과 고품질 시추 결과를 보유하고 있으며, 회사의 글로벌 안티모니 시장에서 중요한 플레이어가 되고자 하는 전략에 부합합니다. 안티모니는 여러 국가에서 중요한 광물로 분류되며, 공급 제한으로 인한 가격 상승이 있었습니다.
웨스트 고어 프로젝트는 메구마 금 캠프에 위치하며, 585헥타르를 커버하는 네 개의 탐사 라이센스로 구성되어 있습니다. 이 프로젝트에는 지하 광산과 광물이 포함된 큰 재고가 포함되어 있습니다. 회사는 Molten Metals Corp.로부터 $85,000 CAD에 광물 권리를 구입했습니다. Military Metals는 2024 시즌 동안 역사적인 재고, 암석 덤프 및 테일링의 톤수, 등급 및 가공 가능성을 특성화할 계획입니다.
Military Metals Corp. (CSE: MILI) (OTC Pink: MILIF) a annoncé un accord pour acquérir le Projet Antimoine West Gore en Nouvelle-Écosse, Canada. Ce projet brownfield, avec une production passée et des résultats de forage de haute qualité, s'inscrit dans la stratégie de l'entreprise de devenir un acteur significatif à l'échelle mondiale dans le secteur de l'antimoine. L'antimoine, classé comme minéral critique par plusieurs pays, a connu des augmentations récentes de prix en raison des contraintes d'approvisionnement.
Le projet West Gore, situé dans le camp aurifère de Meguma, se compose de quatre licences d'exploration couvrant 585 hectares. Il comprend une mine souterraine et de grands stockages d'antimoine minéralisé et de sous-produits d'or. L'entreprise a acheté les droits miniers auprès de Molten Metals Corp. pour $85,000 CAD. Military Metals prévoit de caractériser le tonnage, la qualité et la possibilité de traitement des stocks historiques, des dépôts de roche et des résidus lors de la saison 2024.
Military Metals Corp. (CSE: MILI) (OTC Pink: MILIF) hat eine Vereinbarung zur Übernahme des West Gore Antimonprojekts in Nova Scotia, Kanada, angekündigt. Dieses Brownfield-Projekt, das über frühere Produktionen und hochgradige Bohrergebnisse verfügt, entspricht der Strategie des Unternehmens, ein bedeutender globaler Akteur im Bereich Antimon zu werden. Antimon, das von mehreren Ländern als kritisches Mineral eingestuft wird, hat aufgrund von Angebotsengpässen in letzter Zeit Preiserhöhungen erfahren.
Das West Gore-Projekt, das sich im Meguma-Goldcamp befindet, besteht aus vier Explorationslizenzen, die eine Fläche von 585 Hektar abdecken. Es umfasst eine Untergrundmine und große Bestände an mineralisiertem Antimon und Goldnebenprodukten. Das Unternehmen hat die mineralischen Ansprüche von Molten Metals Corp. für $85,000 CAD erworben. Military Metals plant, im Jahr 2024 die Tonnage, die Qualität und die Verarbeitbarkeit historischer Bestände, Gesteinsabfälle und Tailings zu charakterisieren.
- Acquisition of a past-producing antimony project with historical high-grade drill results
- Alignment with strategy to become a significant global antimony player
- Exposure to antimony, a critical mineral experiencing recent price increases
- Project includes underground mine and large stockpiles of mineralized antimony and gold by-product
- Relatively low acquisition cost of $85,000 CAD
- Completion of the transaction subject to customary closing conditions
- Historical analytical evaluations of surface stockpiles, tailings, and dumps are unverified
- Additional work required to characterize tonnage, grade, and processability of historical materials
Vancouver, British Columbia--(Newsfile Corp. - September 24, 2024) - Military Metals Corp. (CSE: MILI) (OTC Pink: MILIF) (FSE: QN90) (the "Company" or "Military") is pleased to announce that it has entered into an asset purchase agreement (the "Agreement"), dated effective September 24, 2024, to acquire a series of mineral claims referred as the West Gore Antimony Project ("West Gore" or the "Project"), located in Nova Scotia, Canada (the "Transaction"). Completion of the Transaction remains subject to customary closing conditions. West Gore is a brownfield project with past production, historical high-grade drill results include 7.07 metres of 10.6 gpt gold and
"The acquisition of the West Gore Antimony Project demonstrates our strategy of becoming a significant global antimony player to give our shareholders exposure to the attractive metal. Antimony has experienced a recent price increase primarily due to supply constraints, including China imposing export restrictions. Antimony has an import role in military munitions and equipment. Numerous countries have included antimony on their critical metals list given its strategic importance to military activity, in addition to consumption in fire retardants, solar energy and nuclear power plants," said Scott Eldridge, CEO of Military Metals.
Antimony is a classified as a critical mineral by Canada, the United States, the European Union, the United Kingdom, and other states across the globe. It is utilized in battery technology, and has become utilized in electrical and energy related technologies, as well as in military applications, such as in night vision goggles, explosives, flares, and infrared sensors.
The West Gore project lies in the Meguma gold camp and consists of an underground mine and large stockpiles of mineralized antimony and gold by-product. The Project consists of four exploration licenses covering 585 hectares in Nova Scotia, Canada. West Gore experienced production from 1882 to 1939, and primarily extracted antimony through seven underground mining levels, which have now been digitized. The Company purchased the mineral claims from Molten Metals Corp. ("Molten") for consideration consisting of
Historical accounts detail that mining at West Gore was suspended during the first world war when a ship load of Antimony Ore enroute to Wales for processing was torpedoed and sunk. The loss of this revenue bankrupted the mining company and operations were suspended, with suspected run-of-mine (ROM) material being left at surface awaiting processing. Historical analytical evaluations of surface stockpiles, tailings and dumps are favorable but unverified. As such, Military Metals is preparing work plans to characterize the tonnage, grade and processability of historical stockpiles, rock dumps, and tailings in the 2024 season.
About Military Metals Corp.
The Company is a British Columbia-based mineral exploration company that is primarily engaged in the acquisition and exploration of mineral properties with a focus on antimony.
ON BEHALF OF THE BOARD OF DIRECTORS
For more information, please contact:
Scott Eldridge
CEO and Director
For enquiries, please call 604-722-5381
This news release contains "forward-looking information". Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking information in this news release includes statements related to the completion of the acquisition of the West Gore Antimony Project by Military. A variety of factors, including known and unknown risks, many of which are beyond our control, could cause actual results to differ materially from the forward-looking information in this news release. These include meeting the conditions to close the Transaction, which include customary closing conditions for this type of transaction, including that there be no material adverse change with respect to the purchased assets prior to closing. Additional risk factors can also be found in the Company's public filings under the Company's SEDAR+ profile at www.sedarplus.ca. Forward-looking statements contained herein are made as of the date of this news release and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward looking statements if circumstances, management's estimates or opinions should change, except as required by securities legislation. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.
The Canadian Securities Exchange has neither approved nor disapproved the information contained herein and does not accept responsibility for the adequacy or accuracy of this news release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/224437
FAQ
What is the West Gore Antimony Project that Military Metals (MILIF) acquired?
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Why is antimony considered important for Military Metals (MILIF)?
