Military Metals Completes Claim Staking Around the Last Chance Antimony-Gold Property in Nevada
Rhea-AI Summary
Military Metals Corp (CSE: MILI) (OTCQB: MILIF) has completed additional claim staking around the Last Chance antimony-gold property in Nye County, Nevada. The property is located 70km north of Tonapah and 12km west of Kinross' Round Mountain gold mine. CEO Scott Eldridge highlighted that antimony prices have reached $38,000 USD per tonne, making it 2024's top-performing commodity. The surge is attributed to China's export restrictions implemented September 15, 2024. The property contains historical antimony-gold occurrences within Paleozoic carbonates and Lower Mesozoic metamorphosed shales. The company plans its first field campaign for Q2/2025.
Positive
- Strategic expansion of property claims near an operating gold mine
- Antimony prices at $38,000 USD per tonne, top performing commodity in 2024
- China's export restrictions creating favorable market conditions for domestic antimony development
Negative
- Field campaign not starting until Q2/2025
- Property currently has only historical production
Vancouver, British Columbia--(Newsfile Corp. - November 28, 2024) - Military Metals Corp. (CSE: MILI) (OTCQB: MILIF) (FSE: QN90) (the "Company" or "MILI") is pleased to report that it has completed additional staking of claims surrounding the Last Chance antimony-gold property, located in Nye County, Nevada, just over 70km north of the town of Tonapah and 12km due west of Kinross' Round Mountain gold mine. The Company recently entered into a letter of intent to acquire the Last Chance antimony-gold property. Please refer to the Company's news release dated November 14, 2024, for additional details about the Last Chance property.
Scott Eldridge, Chief Executive Officer of the Company, commented, "Antimony prices have now risen to
Location map, Last Chance Property
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Historical antimony-gold occurrences and a solitary shaft where limited historical production is recorded occur within a sequence of Paleozoic carbonates and Lower Mesozoic metamorphosed shales and carbonates; A series of ultramafic dykes as well as younger felsic intrusives and extrusives cut this sequence at several locations. Mineralization is structurally controlled, with folding, faulting and quartz veining seen throughout the metamorphosed sedimentary sequence at several locations across the property.
A fence of claims was staked surrounding the Last Chance property to ensure that additional ground considered potentially prospective remains available to the Company when it begins its first field campaign scheduled for Q2/2025.
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.
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
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 a binding agreement and closing of the acquisition of the Last Chance Gold Property, 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 acquisition of the Last Chance Gold Property, 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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/231755
FAQ
What is the current price of antimony according to Military Metals (MILIF)?
Where is Military Metals' (MILIF) Last Chance property located?
When will Military Metals (MILIF) begin its first field campaign at Last Chance property?
What caused the recent antimony supply crunch mentioned by Military Metals (MILIF)?
