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Search Minerals (TSXV: SMY | OTC: SHCMD) has reached a settlement agreement regarding outstanding debt payments with creditors Kee Scarp Ltd. and Todd Burlingame. The company will issue 203,688 common shares to Burlingame and make a cash payment of $26,600 to Kee Scarp, totaling approximately $100,000 in debt settlement.
The share issuance is pending TSX Venture Exchange approval and will be subject to a four-month and one-day hold period from the issuance date, as per securities legislation.
Search Minerals (TSXV: SMY | OTC: SHCMD) has announced significant channel sampling results from its Red Wine Critical Minerals District in central Labrador. The program revealed notable concentrations of critical minerals including Niobium (Nb), Beryllium (Be), Neodymium (Nd), Praseodymium (Pr), Dysprosium (Dy), and Terbium (Tb).
Key findings include TWO TOM LAKE channel results showing 4,766 ppm Nb and 2,342 ppm Nd over 13.26m, MANN #1 yielding 1,027 ppm Nb and 1,657 ppm Nd over 1.33m, and MERLOT producing up to 522 ppm Dy and 1,700 ppm Nd over 18.86m. The district is accessible via helicopter from Churchill Falls and Goose Bay, with the Orma Lake woods road extending to within 30-60km of the properties.
Search Minerals (TSXV: SMY | OTC: SHCMD) has announced significant results from its Phase 1 drill and channel program at the FOX MEADOW Critical Rare Earth Element property in Labrador. The program revealed substantial CREE mineralization extending to 140m depth with a strike length of at least 750m and width up to 140m on the surface.
Key findings include high-grade intersections from drill holes, with notable results including 288 ppm Dy, 1277 ppm Nd, 309 ppm Pr, and 45.3 ppm Tb over 8.43m in hole FM-22-10. The exploration program, consisting of 14 drill holes totaling 2,006m and five new channels, confirms the continuity of mineralization and suggests potential for expansion both along strike and at depth.
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