Red Metal Resources Signs LOI to Acquire Mineral Claim Package in Ville Marie, Quebec, Contiguous to Recent Hydrogen Discovery
Red Metal Resources (CSE: RMES) (OTC Pink: RMESF) has signed a Letter of Intent (LOI) to acquire a 100% interest in three mineral claim packages near Ville Marie, Quebec. The claims, totaling over 1,100 hectares, are contiguous to Quebec Innovative Materials Corp.'s recent hydrogen discovery of over 1,000 ppm. Located in the Timiskaming Graben formation, the claims are approximately 15 km north of Ville Marie and accessible by road.
Red Metal plans to begin initial exploration, including gas sampling from soil, underwater surveys, and geophysical surveys to detect deep structures. The company views this acquisition as an opportunity to expand its clean energy portfolio. The LOI includes a two-week due diligence period, a non-refundable deposit of $5,000 plus GST, and the issuance of 1,600,000 common shares of the company.
Red Metal Resources (CSE: RMES) (OTC Pink: RMESF) ha firmato una Lettera di Intenti (LOI) per acquisire un interesse del 100% in tre pacchetti di diritti minerari vicino a Ville Marie, Quebec. I diritti, per un totale di oltre 1.100 ettari, sono contigui alla recente scoperta di idrogeno di Quebec Innovative Materials Corp. di oltre 1.000 ppm. Situati nella formazione del Timiskaming Graben, i diritti si trovano a circa 15 km a nord di Ville Marie e sono accessibili tramite strada.
Red Metal prevede di iniziare un'esplorazione iniziale, inclusi campionamenti di gas dal suolo, indagini sottomarine e sondaggi geofisici per rilevare strutture profonde. L'azienda considera questa acquisizione come un'opportunità per ampliare il proprio portafoglio di energie rinnovabili. La LOI include un periodo di due settimane per la due diligence, un deposito non rimborsabile di 5.000 dollari più GST e l'emissione di 1.600.000 azioni ordinarie della società.
Red Metal Resources (CSE: RMES) (OTC Pink: RMESF) ha firmado una Carta de Intenciones (LOI) para adquirir un 100% de interés en tres paquetes de reclamaciones minerales cerca de Ville Marie, Quebec. Las reclamaciones, que suman más de 1,100 hectáreas, son contiguas al reciente descubrimiento de hidrógeno de Quebec Innovative Materials Corp. de más de 1,000 ppm. Ubicadas en la formación Timiskaming Graben, las reclamaciones se encuentran a aproximadamente 15 km al norte de Ville Marie y son accesibles por carretera.
Red Metal planea comenzar la exploración inicial, incluyendo muestreo de gas del suelo, estudios subacuáticos y estudios geofísicos para detectar estructuras profundas. La empresa considera esta adquisición como una oportunidad para expandir su portafolio de energía limpia. La LOI incluye un período de debida diligencia de dos semanas, un depósito no reembolsable de $5,000 más GST, y la emisión de 1,600,000 acciones ordinarias de la empresa.
레드 메탈 리소스 (CSE: RMES) (OTC Pink: RMESF)는 퀘벡 빌 마리 근처의 세 개의 광물 청구 패키지에 대한 100% 지분을 인수하기 위한 의향서(LOI)를 체결했습니다. 이 청구지는 총 1,100헥타르 이상으로, 퀘벡 혁신 소재 회사의 최근 수소 발견과 연속적으로 연결되어 있습니다. 이 발견은 1,000ppm 이상입니다. Timiskaming Graben 형성에 위치하며, 청구지는 빌 마리에서 약 15km 북쪽에 있으며 도로로 접근 가능합니다.
레드 메탈은 지층에서의 가스 샘플링, 수중 조사, 지구물리학 조사를 포함한 초기 탐사를 시작할 계획입니다. 이 회사는 이번 인수를 청정 에너지 포트폴리오를 확장할 기회로 보고 있습니다. LOI에는 2주간의 실사 기간, $5,000의 환불 불가능한 보증금 및 1,600,000주의 보통주 발행이 포함되어 있습니다.
Red Metal Resources (CSE: RMES) (OTC Pink: RMESF) a signé une Lettre d'Intention (LOI) pour acquérir un intérêt de 100 % dans trois paquets de revendications minérales près de Ville Marie, Québec. Les revendications, totalisant plus de 1 100 hectares, sont contiguës à la récente découverte d'hydrogène de Quebec Innovative Materials Corp. de plus de 1 000 ppm. Situées dans la formation du Timiskaming Graben, les revendications se trouvent à environ 15 km au nord de Ville Marie et sont accessibles par route.
Red Metal prévoit de commencer une exploration initiale, y compris l'échantillonnage de gaz dans le sol, les enquêtes sous-marines et les études géophysiques pour détecter des structures profondes. L'entreprise considère cette acquisition comme une opportunité d'élargir son portefeuille d'énergie propre. La LOI comprend une période de diligence raisonnable de deux semaines, un dépôt non remboursable de 5 000 dollars plus GST, et l'émission de 1 600 000 actions ordinaires de l'entreprise.
Red Metal Resources (CSE: RMES) (OTC Pink: RMESF) hat ein Absichtsschreiben (LOI) unterzeichnet, um 100% an drei Mineralantrags-Paketen in der Nähe von Ville Marie, Quebec, zu erwerben. Die Ansprüche, die insgesamt über 1.100 Hektar umfassen, sind angrenzend an die jüngste Wasserstoffentdeckung der Quebec Innovative Materials Corp. von über 1.000 ppm. Die Ansprüche befinden sich in der Timiskaming Grabenformation, etwa 15 km nördlich von Ville Marie und sind per Straße erreichbar.
Red Metal plant mit ersten Erkundungsmaßnahmen zu beginnen, einschließlich Gasprobenentnahme aus dem Boden, Unterwasseruntersuchungen und geophysikalischen Untersuchungen, um tiefere Strukturen zu erkennen. Das Unternehmen sieht in dieser Übernahme eine Möglichkeit, sein Portfolio für saubere Energie zu erweitern. Das LOI umfasst einen zweitägigen Due-Diligence-Zeitraum, eine nicht rückzahlbare Anzahlung von 5.000 USD zuzüglich GST und die Ausgabe von 1.600.000 Stammaktien des Unternehmens.
- Acquisition of mineral claims near a recent significant hydrogen discovery
- Expansion of clean energy exploration portfolio
- Strategic location with road accessibility
- Potential for new hydrogen discoveries due to similar geology to other successful projects
- Non-refundable deposit and share issuance required for acquisition
- Exploration success not guaranteed
- Additional costs for planned exploration activities
Vancouver, British Columbia--(Newsfile Corp. - October 15, 2024) - RED METAL RESOURCES LTD. (CSE: RMES) (OTC Pink: RMESF) (FSE: I660) ("Red Metal" or the "Company") is pleased to announce it has entered into an Letter of Intent (the "LOI") with an arm's length vendor to acquire a
These claim blocks consist of three separate packages, covering 19 cells and totaling over 1,100 hectares to the North, Northeast and the Southwest of QIMC's Hydrogen sample discoveries. These claim blocks exhibit close proximity and similar geological setting to that of Quebec Innovative Materials Corp.'s recent hydrogen-in-soil discovery, with similar geology to the recent large natural hydrogen Ramsey Project discovery by Gold Hydrogen Ltd. in South Australia.
Red Metal Resources President and CEO, Caitlin Jeffs stated, "We are excited to add these highly prospective mineral claim blocks to our portfolio of clean energy exploration projects and establish a land position near QIMC's recent hydrogen discovery. The similar geology and proximity, highlights the potential for new discoveries of hydrogen with its ideal location and infrastructure, this new property represents an exciting opportunity to expand our clean energy portfolio as we continue to advance our Carrizal Copper/Gold property in Cordillera, Chile."
Red Metal Resources intends to begin initial exploration and field work that could include:
- Gas sampling from the soil (soil gas survey) and conducting underwater surveys in Lake Timiskaming.
- These surveys can be used, among other things, to locate degassing zones associated with faults in the Timiskaming rift.
- Geophysical surveys could be carried out to detect deep structures in the rock. Drone surveys can also be realized to provide useful remote sensing data for hydrogen and helium exploration.
- Fieldwork can be carried out mainly in the Municipality of St-Bruno-de-Guigues sector.
The Company is currently reviewing available data and formulating an exploration plan for the new claims with further details to be provided in due course. Once due diligence is completed and all claim applications have been approved, the Company will enter into a definitive claim purchase agreement.
This news release may contain information about adjacent properties on which the Company has no right to explore or mine. Investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on the properties subject to the LOI.
Figure 1. Claim Location Map
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Figure 2. Map of the Timiskaming Graben (Outlined in Red)
https://en.wikipedia.org/wiki/Timiskaming_Graben
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The Timiskaming Graben is a 400 km (250 mi) long and 50 km (31 mi) wide depression straddling the Ontario-Quebec border in Eastern Canada. It is a northwesterly extension of the Ottawa-Bonnechere Graben, a failed arm of the Saint Lawrence rift system which is related to the opening of the Iapetus Ocean.
Formation of the Timiskaming Graben corresponded with collapse of the regional crust along the Quinze Dam and Cross Lake faults possibly as early as 2.4 billion years ago. It was then reactivated during periods of crustal extension related to the breakups of supercontinents Rodinia and Pangaea and during compression related to the various orogenies that formed the Appalachian Mountains.
The Timiskaming Graben is now partially filled by Lake Timiskaming, a 100 km (62 mi) long successor to the much larger glacial Lake Barlow which drained at the end of the last glacial period about 8,000 years ago. The Timiskaming Graben is a seismically active structure in the Western Quebec Seismic Zone. Reactivation of faults has resulted in earthquakes, such as the 1935 Timiskaming earthquake.
Terms of the LOI
The LOI contemplates up to two weeks' due diligence period with a non-refundable deposit of
Qualified Person
The technical content of this news release has been reviewed and approved by Mitchell Lavery, P.Geo.(QC), who is a Qualified Person ("QP") as defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects.
About Red Metal Resources Ltd.
Red Metal Resources is a mineral exploration company focused on growth through acquiring, exploring and developing copper-cobalt-gold assets in Chile. The Company's projects are located in the prolific Candelaria iron oxide copper-gold (IOCG) belt of Chile's coastal Cordillera. Red Metal is quoted on the CSE under the symbol RMES, on OTC Link alternative trading system on the OTC Pink marketplace under the symbol RMESF, and on Frankfurt Stock Exchange under the symbol I660.
For more information, visit www.redmetalresources.com.
Contact:
Red Metal Resources Ltd.
Caitlin Jeffs, President & CEO
1-866-907-5403
invest@redmetalresources.com
www.redmetalresources.com
Forward-Looking Statements - All statements in this press release, other than statements of historical fact, are "forward-looking information" within the meaning of applicable securities laws. Red Metal provides forward-looking statements for the purpose of conveying information about current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited to the ability to raise adequate financing, receipt of required approvals, as well as those risks and uncertainties identified and reported in Red Metal's public filings under its SEDAR+ profile at www.sedarplus.ca. Although Red Metal has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Red Metal disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.
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FAQ
What is the size and location of the mineral claim package Red Metal Resources (RMESF) is acquiring?
What was the recent discovery near Red Metal Resources' (RMESF) new claim package?
What exploration activities does Red Metal Resources (RMESF) plan for the new mineral claims?
What are the terms of the Letter of Intent (LOI) for Red Metal Resources' (RMESF) acquisition?
