CleanTech Vanadium Mining, via its subsidiary US Fluorspar, has entered an agreement to acquire the mineral rights to the Campbell Crotser fluorspar project in the US state of Kentucky.
The 250-acre project is in Livingston County, within the historic Illinois–Kentucky fluorspar district.
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The total purchase price for the acquisition is set at $2m, with an initial payment of $75,000 already completed upon the signing of the binding option to purchase agreement.
The acquisition includes the rights to three parcels: Campbell, Crotser and Swinford.
Fluorspar is a key vertical for CleanTech, complementing its strategic Gibellini vanadium project in Nevada, which recently received approval from the Bureau of Land Management.
The Gibellini project spans more than 21km and includes its own water supply, highlighting CleanTech’s commitment to expanding its mining portfolio.
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By GlobalDataCleanTech vanadium mining president Ron Espell stated: “The Campbell Crotser fluorspar project is a significant project with over 60 historic drill holes in the heart of America’s historic fluorspar belt in Kentucky. The district has good infrastructure and stand-by processing capacities to expedite project development.
“We are a mega firm believer in fluorspar prospects: this key critical mineral is vital in the production of nuclear power, lithium batteries, semiconductors, high-voltage electrical switches, refrigerant for air conditioning, steel and aluminium. We are witnessing a highly competitive global land-grab of fluorspar resources. Through this acquisition, Cleantech is leading the US fluorspar foray in the junior mining space.”
The Campbell Crotser fluorspar project is strategically located along the Big Creek fault system, within a geological setting known for its high-grade fluorspar-zinc-lead resource.
The project area is characterised by carbonate rocks and is intruded by alkaline and ultramafic igneous bodies, indicating a highly favourable geological environment for mineralisation.
The project’s location offers significant development advantages, including access to rail infrastructure, proximity to zinc processing facilities and readily available water and electricity.
