Mongoose Mining has signed a deal to acquire the Steele Run copper-cobalt-gold deposit in Nova Scotia, Canada, from Canadian Goldcamps.

Located at Mt Thom in Nova Scotia, around 22km east of Truro, the property is an ‘IOCG-type’ copper-cobalt-gold project and comprises 29 mineral claims over four contiguous licences.

According to the agreement, Mongoose Mining will purchase the project by issuing 200,000 common shares to Canadian Goldcamps.

Mongoose Mining CEO Terry Coughlan said: “The project has an excellent surrounding infrastructure with a powerline and highway access on the claims and located within 90 minutes of international sea and airport facilities.

“Having already demonstrated the existence of high-grade copper and cobalt mineralisation, two strategic metals of Canada’s Green future, we’re excited with the addition of the Mt Thom project to our extensive near drill-ready IOCG portfolio and look forward to it providing some very interesting results.”

Discovered by Imperial Oil in the 1970s, the Steele Run deposit was tested for only copper at that time. Cobalt mineralisation at the property was recognised at a later stage.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

In November 2021, Mongoose Mining completed the takeover of Spark Minerals, which owns exploration licences covering around 3,264ha.

As part of the transaction, Mongoose issued 26,904,000 of its shares to Spark’s common shareholders.

Mongoose Mining is engaged in the acquisition, exploration, and evaluation of mineral properties in Canada.

The firm owns licences to explore the Cobequid Highlands Property located near Londonderry and Bass River, Nova Scotia. The Cobequid Highlands Project comprises seven mining concessions.