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Texas Mineral Resources Corp. acquires, explores, and develops mineral properties in the United States. The company holds interests in the Round Top rare earth-uranium-beryllium project covering 950 acres in Hudspeth County, Texas. Their focus is on heavy rare earths, technology metals, and industrial minerals. With recent achievements in modifying the operating agreement for the Round Top project, TMRC aims to enhance flexibility and shareholder value. The company is actively working on developing a profitable and vital mining operation, including plans to commercialize rare earth elements, lithium, and other tech elements.
Texas Mineral Resources Corp. (TMRC) has entered into a non-binding letter of intent with Steeple Rock Holding Company to explore a potential mining venture in New Mexico and Arizona. The project encompasses four mines (Billali, Jim Crow, Imperial, and Carlisle) and a 150-ton per day unassembled flotation mill in Duncan, Arizona. TMRC may acquire up to 50.1% interest in the project by contributing the Carlisle mine and raising initial capital.
The Billali mine, Jim Crow mine, and millsite currently hold valid operating permits, while the Imperial and Carlisle mines do not. Located in the Steeple Rock District, a known gold and silver region, the mines have historical exploration data including underground workings and diamond drill holes. The project's completion depends on satisfactory legal, regulatory, business, and financial diligence.
Texas Mineral Resources Corp. (OTCQB: TMRC) announced the acquisition of the historic Carlisle Mine in New Mexico. The mine includes three patented lode mining claims and one patented mill site, spanning 63 acres in the Steeple Rock district.
The acquisition was made for a $75,000 non-interest-bearing promissory note. The Carlisle Mine, historically known for its gold production from 1880-1889, produced approximately 196,000 oz of gold from 112,000 tons of ore.
During WWII, the mine also produced copper, lead, and zinc. TMRC plans to explore and potentially develop the mine commercially, leveraging historical data from previous drilling and production efforts.
Potential targets include a shallow gold zone and a base metal zone, both partially mined historically. The company sees this as an opportunity for modest capital expenditure and significant exploration potential.
Texas Mineral Resources Corp. (OTCQB: TMRC) announced that its Round Top Project joint venture operating partner, USA Rare Earth (USARE), plans to become a publicly traded company through a business combination with Inflection Point Acquisition Corp. II. The proposed transaction values USARE at a pro-forma enterprise value of $870 million and is expected to be completed in early 2025.
TMRC currently owns approximately 19.3% of the Round Top Heavy-Mineral and Critical Minerals Project. The company is reviewing the proposed business combination details contained in the Form 8-K filed by IPXX with the SEC. TMRC's primary focus is developing and commercializing the Round Top project, located in Hudspeth County, Texas, which contains heavy-rare earth, technology metals, and industrial minerals.
Texas Mineral Resources Corp. (TMRC) announced a webinar led by CEO Dan Gorski and Chairman Anthony Marchese on December 22, 2022, highlighting the geophysical results and economic potential of its Blackhawk silver mining project in New Mexico. TMRC, which holds a 20% stake in the Round Top Mountain project, continues to seek opportunities in rare earth and industrial metals. The company cautioned investors regarding the speculative nature of mineral deposits and the inherent risks involved, urging them to review SEC filings for detailed disclosures.
Texas Mineral Resources Corp. (TMRC) announced a webinar on December 22, 2022, to discuss geophysical results from its Time Domain Electro-Magnetic (TDEM) survey in the Black Hawk District, New Mexico, which revealed promising data regarding high-grade silver veins. The project has historical silver production records with grades reaching up to 20%. TMRC's focus is on exploring rare earth and technology metals, holding a 20% interest in the Round Top Mountain project in Texas. Investors should be cautious regarding forward-looking statements and potential mining risks.
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