Mineral exploration company Maxus Mining has entered into an agreement to acquire a 100% interest in four exploration properties in British Columbia (BC), comprising one tungsten and three antimony projects.
The properties span more than 4,122 hectares (ha), with the antimony projects –Quarry, Hurley and Altura – covering approximately 3,700ha and the Lotto Tungsten project encompassing 422ha.
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The Quarry property is situated in a limestone quarry north of the Osilinka River, around 46km north-west of Germansen Landing.
The Quarry showing is exposed in a limestone rock quarry and features azurite, boulangerite, cerussite, chalcopyrite, galena, malachite, sphalerite and stibnite.
A sample in 1991 assayed 20% stibnite, 0.89 grams per tonne (g/t) silver, 3.8% copper, 42.5% lead and 0.65g/t gold.
The Hurley Antimony project is positioned 7km south-east of Gold Bridge and near the historic Bralorne-Pioneer Gold Mining Camp.
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By GlobalDataThe Altura Antimony project is on Dolly Varden Mountain, approximately 29km north-east of New Denver, an area known for its antimony potential.
The Lotto Tungsten project is located in the mineral-rich Kootenay region, 19km west-south-west of Castlegar. In 1980, a selected grab sample taken from a quartz vein with scheelite assayed 10.97% tungsten trioxide, the company said.
Maxus Mining chief executive officer Scott Walters said: “We are excited to announce the strategic acquisition of four new projects, focusing on identifying antimony and tungsten.
“By diversifying our portfolio to include minerals essential for emerging technologies and the future of energy, we are uniquely positioned to capitalise on these evolving markets. Looking ahead, we are eager to drive advancements at our newly acquired projects and eagerly anticipate the opportunities they will present to our shareholders.”
To earn the 100% interest, Maxus Mining must fulfil several commitments including cash payments totalling C$150,000 ($109,745), issuing an aggregate of C$400,000 in common shares, and incurring at least C$1m in exploration expenditures over three years.
