Military Metals Announces LOI to Acquire Past-Producing Last Chance Antimony-Gold Property, near Round Mountain, Nevada
Military Metals Corp. (CSE: MILI) (OTCQB: MILIF) has signed a Letter of Intent to acquire the Last Chance antimony-gold property in Nye County, Nevada from Amador Mining The past-producing property is located 18km west of the Round Mountain Gold Mine and has historical antimony production dating back to 1915, with activity during both World Wars and in 1957-58. The acquisition covers 5 unpatented mineral claims for $45,000 USD and includes a 2% Net Smelter Royalty. The company has provided a $10,000 USD exclusivity deposit and plans to enter a definitive agreement within 30 days. Military plans to conduct detailed surface mapping, sampling, and drilling to test the system's potential.
Military Metals Corp. (CSE: MILI) (OTCQB: MILIF) ha firmato una Lettera di Intenti per acquisire la proprietà di antimonio-oro Last Chance nella contea di Nye, Nevada, da Amador Mining. La proprietà, in passato produttiva, si trova a 18 km a ovest della Miniera d'Oro Round Mountain e ha una produzione storica di antimonio risalente al 1915, con attività durante entrambe le Guerre Mondiali e nel 1957-58. L'acquisizione riguarda 5 diritti minerari non brevettati per 45.000 USD e include una Royalty Net Smelter del 2%. L'azienda ha fornito un deposito di esclusività di 10.000 USD e prevede di entrare in un accordo definitivo entro 30 giorni. Military intende condurre mappature dettagliate della superficie, campionamenti e perforazioni per testare il potenziale del sistema.
Military Metals Corp. (CSE: MILI) (OTCQB: MILIF) ha firmado una Carta de Intención para adquirir la propiedad de antimonio-oro Last Chance en el condado de Nye, Nevada, de Amador Mining. La propiedad, que fue productiva en el pasado, se encuentra a 18 km al oeste de la Mina de Oro Round Mountain y tiene una producción histórica de antimonio que data de 1915, con actividades durante ambas Guerras Mundiales y en 1957-58. La adquisición cubre 5 reclamaciones mineras no patentadas por 45,000 USD e incluye un 2% de Regalías Net Smelter. La empresa ha proporcionado un depósito de exclusividad de 10,000 USD y planea firmar un acuerdo definitivo en un plazo de 30 días. Military planea realizar un mapeo de superficie detallado, muestreo y perforación para probar el potencial del sistema.
Military Metals Corp. (CSE: MILI) (OTCQB: MILIF)는 Amador Mining으로부터 네바다 주 나이 카운티에 있는 Last Chance 비소-금 부지를 인수하기 위한 의향서를 체결했습니다. 과거에 생산된 이 부지는 Round Mountain 금광에서 서쪽으로 18km 떨어진 곳에 위치하며, 1915년으로 거슬러 올라가는 비소 생산 기록이 있으며, 두 차례의 세계대전 및 1957-58년에 활동이 있었습니다. 이번 인수는 45,000 USD에 5개의 비특허 광권을 포함하며, 2%의 순용광세가 포함됩니다. 회사는 10,000 USD의 독점성 보증금을 제공하였고, 30일 이내에 구체적인 계약을 체결할 계획입니다. Military는 이 시스템의 잠재력을 테스트하기 위해 자세한 지표 조사, 샘플링 및 드릴링을 실시할 계획입니다.
Military Metals Corp. (CSE: MILI) (OTCQB: MILIF) a signé une Lettre d'Intention pour acquérir la propriété antimoine-or Last Chance dans le comté de Nye, Nevada, auprès d'Amador Mining. La propriété, qui a été exploitée dans le passé, se situe à 18 km à l'ouest de la mine d'or Round Mountain et a une production historique d'antimoine datant de 1915, avec des activités durant les deux Guerres Mondiales et en 1957-58. L'acquisition couvre 5 concessions minières non brevetées pour 45 000 USD et inclut une redevance nette de fonderie de 2 %. L'entreprise a fourni un dépôt d'exclusivité de 10 000 USD et prévoit de conclure un contrat définitif dans les 30 jours. Military prévoit de réaliser des cartographies de surface détaillées, des échantillonnages et des forages pour tester le potentiel du système.
Military Metals Corp. (CSE: MILI) (OTCQB: MILIF) hat eine Absichtserklärung zum Erwerb des Last Chance Antimon-Goldvorkommens im Nye County, Nevada, von Amador Mining unterzeichnet. Das in der Vergangenheit produktive Grundstück befindet sich 18 km westlich der Round Mountain Goldmine und weist eine historische Antimonproduktion seit 1915 auf, mit Aktivitäten während beider Weltkriege und in den Jahren 1957-58. Der Erwerb umfasst 5 nicht patentierte Mineralansprüche für 45.000 USD und beinhaltet eine 2% Nettoverhüttungsroyalty. Das Unternehmen hat eine Exklusivitätsanzahlung von 10.000 USD geleistet und plant, innerhalb von 30 Tagen einen verbindlichen Vertrag abzuschließen. Military plant, detaillierte Oberflächenkartierungen, Probenahmen und Bohrungen durchzuführen, um das Potenzial des Systems zu testen.
- Strategic location near Round Mountain Gold Mine
- Historical antimony and gold production record
- Low acquisition cost of $45,000 USD
- Property has existing road access
- Property consists of only 5 unpatented claims
- 2% NSR royalty obligation
- Additional capital required for exploration program
- No current resource estimates available
Vancouver, British Columbia--(Newsfile Corp. - November 14, 2024) - Military Metals Corp. (CSE: MILI) (OTCQB: MILIF) (FSE: QN90) (the "Company" or "Military") is pleased to announced that it has entered into a Letter of Intent ("LOI") with Amador Mining LLC, to acquire the past-producing Last Chance (aka Wall Canyon) antimony-gold property ("Last Chance" or "the Property"), located in Nye County Nevada.
The property is located 18km (11 miles) due west of the Round Mountain Gold Mine, and is accessible by road NF-157 that runs west from Highway 376 into the Toiyabe National Forest. The nearest town is Tonopah. The elevation at the historical mineshaft on the property is just under 8,000 feet above sea level. Prospecting for gold in the area - the Jett Mining District, dates back to the 1870s, leading to the discovery of the Last Chance historical antimony mine. First recorded production of antimony was in 1915 with mining activity recorded throughout both World War One and Two and then in 1957-58, as well. Mostly gold-focused exploration work by the United States Geological Survey and Nevada Bureau of Mines during the 1980s further documented antimony and associated gold mineralization in the area, leading to the development of a small (historical) low-grade gold resource.
Historical mining and drill data indicate that antimony mineralization is both structurally and stratigraphically controlled, hosted in faults and receptive carbonate units, in quartz veins that crosscut gold-mineralized zones indicating that it is part of a younger mineralizing event. Dikes of serpentinized ultramafics are known nearby although this relationship may be more rheological versus metallogenic (exploiting the same structures), given what is known about the age and metallogenesis of epithermal gold deposits in the region.
Military plans a program of detailed surface mapping and sampling upon which a drilling program to test the full potential of the system will be undertaken. The Company plans to enter a definitive purchase agreement within 30 days, and has provided a
The technical contents of this release were reviewed and approved by Avrom E. Howard, MSc, PGeo, geological consultant to Military Metals and a qualified person as defined by NI 43-101.
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About Military Metals Corp.
The Company is a British Columbia-based mineral exploration company that is primarily engaged in the acquisition, exploration and development 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
scott@militarymetalscorp.com
For enquiries, please call 604-722-5381 or 604-537-7556
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 Definite Agreement, as well as future plans for exploration activities, and assumptions related to the continuation of the global demand for antimony. 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 Definitive Agreement, geopolitical developments related to the supply of antimony, the continued use of antimony and availability of alternatives, availability of capital and labour in respect of the properties that are the subjects of this news release, the results of any future exploration activities, which cannot be guaranteed, and such other factors as may impact both and any future activities in respect of the properties.. 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.
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FAQ
What is the acquisition cost for the Last Chance property by Military Metals (MILIF)?
Where is the Last Chance property that Military Metals (MILIF) is acquiring located?
When did the Last Chance property last produce antimony?
What are Military Metals' (MILIF) plans for the Last Chance property?
