Military Metals Completes Acquisition of Last Chance Antimony-Gold Property in Nevada, Antimony Price Achieves New All-Time High over US$50,000 per Tonne(1)
Military Metals Corp (MILIF) has completed the acquisition of the Last Chance Antimony-Gold Property in Nevada, located 70 kilometers north of Tonopah and 18 kilometers west of Kinross's Round Mountain gold mine. The property, originally discovered in 1880, saw production until the early 1960s supporting US defense efforts.
The site features historical infrastructure including a shaft and concrete foundations. The mineralization consists of antimony-gold deposits within structurally controlled quartz veins, with gold-dominant veins crosscutting antimony-dominant veins. The company plans a comprehensive field program for Q2-3 to explore additional mineralized vein clusters.
Notably, the antimony spot price has reached a new all-time high of $51,500 USD per tonne. The company has also submitted an application to the USA Defense Industrial Base Consortium, making it eligible for Defense Production Act funding.
Military Metals Corp (MILIF) ha completato l'acquisizione della Last Chance Antimony-Gold Property in Nevada, situata a 70 chilometri a nord di Tonopah e 18 chilometri a ovest della miniera d'oro Round Mountain di Kinross. La proprietà, originariamente scoperta nel 1880, ha visto la produzione fino all'inizio degli anni '60, supportando gli sforzi di difesa degli Stati Uniti.
Il sito presenta infrastrutture storiche, tra cui un pozzo e fondamenta in calcestruzzo. La mineralizzazione consiste in depositi di antimonio e oro all'interno di vene di quarzo controllate strutturalmente, con vene dominanti in oro che attraversano vene dominanti in antimonio. L'azienda prevede un programma di esplorazione completo per il secondo e terzo trimestre per esplorare ulteriori cluster di vene mineralizzate.
È notevole che il prezzo spot dell'antimonio abbia raggiunto un nuovo massimo storico di $51.500 USD per tonnellata. L'azienda ha anche presentato una domanda al Consorzio della Base Industriale della Difesa degli Stati Uniti, rendendola idonea per i finanziamenti della Defense Production Act.
Military Metals Corp (MILIF) ha completado la adquisición de la Last Chance Antimony-Gold Property en Nevada, ubicada a 70 kilómetros al norte de Tonopah y a 18 kilómetros al oeste de la mina de oro Round Mountain de Kinross. La propiedad, descubierta originalmente en 1880, tuvo producción hasta principios de los años 60, apoyando los esfuerzos de defensa de EE. UU.
El sitio cuenta con infraestructura histórica, incluyendo un pozo y cimientos de concreto. La mineralización consiste en depósitos de antimonio y oro dentro de vetas de cuarzo controladas estructuralmente, con vetas dominantes en oro que cruzan vetas dominantes en antimonio. La empresa planea un programa de campo integral para el segundo y tercer trimestre para explorar grupos adicionales de vetas mineralizadas.
Es notable que el precio spot del antimonio ha alcanzado un nuevo máximo histórico de $51,500 USD por tonelada. La empresa también ha presentado una solicitud al Consorcio de la Base Industrial de Defensa de EE. UU., haciéndola elegible para financiamiento bajo la Ley de Producción de Defensa.
Military Metals Corp (MILIF)는 네바다에 있는 Last Chance Antimony-Gold Property를 인수 완료했습니다. 이 부지는 토노파에서 북쪽으로 70킬로미터, 킨로스의 라운드 마운틴 금광에서 서쪽으로 18킬로미터 거리에 위치해 있습니다. 이 부지는 원래 1880년에 발견되었으며, 1960년대 초까지 생산이 이루어져 미국의 방위 노력을 지원했습니다.
이 현장은 샤프트와 콘크리트 기초를 포함한 역사적인 인프라를 갖추고 있습니다. 광물화는 구조적으로 제어된 석영 vein 내의 안티모니-금 매장물로 구성되어 있으며, 금이 우세한 vein이 안티모니가 우세한 vein을 교차합니다. 회사는 추가 광물화 vein 클러스터를 탐사하기 위해 2분기와 3분기에 종합 필드 프로그램을 계획하고 있습니다.
특히, 안티모니 현물 가격이 톤당 51,500달러로 새로운 사상 최고치를 기록했습니다. 이 회사는 또한 미국 방위 산업 기지 컨소시엄에 신청서를 제출하여 방위 생산법 자금 지원을 받을 수 있는 자격을 갖추게 되었습니다.
Military Metals Corp (MILIF) a finalisé l'acquisition de la Last Chance Antimony-Gold Property au Nevada, située à 70 kilomètres au nord de Tonopah et à 18 kilomètres à l'ouest de la mine d'or Round Mountain de Kinross. La propriété, découverte à l'origine en 1880, a connu une production jusqu'au début des années 1960, soutenant les efforts de défense des États-Unis.
Le site dispose d'infrastructures historiques, y compris un puits et des fondations en béton. La minéralisation se compose de dépôts d'antimoine et d'or dans des veines de quartz contrôlées structurellement, avec des veines dominantes en or traversant des veines dominantes en antimoine. La société prévoit un programme de terrain complet pour le deuxième et le troisième trimestre afin d'explorer d'autres clusters de veines minéralisées.
Il est à noter que le prix spot de l'antimoine a atteint un nouveau record historique de 51 500 USD par tonne. L'entreprise a également soumis une demande au Consortium de la Base Industrielle de Défense des États-Unis, la rendant éligible au financement de la Defense Production Act.
Military Metals Corp (MILIF) hat die Übernahme des Last Chance Antimony-Gold Property in Nevada abgeschlossen, das 70 Kilometer nördlich von Tonopah und 18 Kilometer westlich der Goldmine Round Mountain von Kinross liegt. Das Grundstück, das ursprünglich 1880 entdeckt wurde, hatte bis Anfang der 1960er Jahre Produktion und unterstützte die Verteidigungsanstrengungen der USA.
Der Standort verfügt über historische Infrastrukturen, darunter einen Schacht und Betonfundamente. Die Mineralisierung besteht aus Antimon-Gold-Lagerstätten innerhalb strukturell kontrollierter Quarzadern, wobei golddominante Adern die antimondominanten Adern durchkreuzen. Das Unternehmen plant ein umfassendes Feldprogramm für das 2. und 3. Quartal, um zusätzliche mineralisierte Adercluster zu erkunden.
Bemerkenswert ist, dass der Antimon-Spotpreis einen neuen historischen Höchststand von 51.500 USD pro Tonne erreicht hat. Das Unternehmen hat auch einen Antrag beim US-Verteidigungsindustriellen Konsortium eingereicht, wodurch es für die Finanzierung nach dem Defense Production Act berechtigt ist.
- Completed 100% acquisition of Last Chance Antimony-Gold Property
- Strategic location near established mining operations in Nevada
- Antimony prices reached all-time high of $51,500 USD per tonne
- Potential eligibility for Defense Production Act funding through DIBC application
- Property has been inactive since 1960s with exploration
- Requires significant exploration and development work
- No current resource estimates or production metrics available
Vancouver, British Columbia--(Newsfile Corp. - February 19, 2025) - Military Metals Corp. (CSE: MILI) (OTCQB: MILIF) (FSE: QN90) (the "Company" or "Military") reports that as of February 14, 2025, it has completed the final cash payment owing to the vendor of the Last Chance Antimony-Gold Property, and as such has fulfilled all obligations required in order to acquire
Further, the Company's senior management team completed an initial field visit to the Last Chance Antimony-Gold Property. Originally discovered in 1880, the Last Chance antimony-gold deposit saw limited production during a few intervals until the early 1960s to support US defense efforts. Historical infrastructure, including a shaft and concrete foundations, remain on the property. Aside from limited gold-focused exploration during the 1980s, the property has not received further exploration activity. The Company looks forward to advancing modern geological programs focused on antimony mineralization to unlock value.
Military's CEO, Scott Eldridge, comments: "Last week we completed our initial site visit to the past producing Last Chance property and were very impressed by its past and future. Nevada is a top global mining jurisdiction that in addition to its notable precious metal mines hosts numerous historical antimony mines and prospects. The antimony spot price has yet again achieved a new all-time high, now trading at
Hosted within a series of deformed, metamorphosed Paleozoic clastic and carbonate sedimentary units, antimony-gold mineralization is found within a series of structurally and stratigraphically-controlled quartz veins. Historical workers have documented that gold-dominant veins crosscut antimony-dominant veins, indicating more than one phase of mineralization. Several samples of mineralized quartz vein material were found within the historical dumps featuring fine-grained, subhedral metallic grey minerals varying from sub-millimeter stringers to semi-massive flooding within a quartz vein host.
(1) https://www.antimony-gz.com/update-price-of-antimony-20250217_n510
Green copper oxide staining on weathered specimens seen in the dumps and elsewhere indicate that tetrahedrite and/or other copper-bearing minerals may occur in the assemblage.
A polished section will be prepared so that minerals comprising this assemblage can be identified. Likewise, a sample comprising selected grabs of mineralized material from the dumps has been sent for multi-element analysis. Management will digest the results of this field visit and incorporate them into its plans for a comprehensive field program planned for Q2-3 that will focus on the potential for additional clusters of mineralized veins, key to the property's potential.
Figure 1: VP-Exploration, Avrom Howard and CEO, Scott Eldridge, viewing samples taken from Last Chance.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10818/241443_311fbea1246b3a50_001full.jpg
Figure 2: Looking northeast at the shaft - foreground, and dumps and concrete foundations behind.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10818/241443_311fbea1246b3a50_002full.jpg
The Company also announces it has submitted its application to the USA Defense Industrial Base Consortium ("DIBC") which fosters collaboration between Government, Industry, and Academia to build a robust, resilient defense industrial base. All DIBC members are eligible for DPA (Defense Production Act) funding.
The technical contents of this release were reviewed and approved by Avrom E. Howard, MSc, PGeo, VP-Exploration for Military Metals and a qualified person as defined by National Instrument 43-101.
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 or info@militarymetalscorp.com
For enquiries, please call 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 registration of the Last Chance property in the name of Military, as well as future plans for exploration activities at the Last Chance property, assumptions related to the continuation of the global demand for antimony, and any accessibility of DPA funding. 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 results from initial sampling and exploration activities at the Last Chance property, including consideration of results from the site visit noted, 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 the Last Chance property and any future activities in respect of the properties held by the Target. 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/241443
FAQ
What is the current antimony price affecting MILIF stock?
Where is Military Metals' Last Chance Property located?
When did Military Metals complete the Last Chance Property acquisition?
What is the historical significance of MILIF's Last Chance Property?
What are Military Metals' (MILIF) exploration plans for 2025?
