One of Canada’s newest junior companies is wasting no time getting its antimony hunt started. The commodity’s unprecedented price and high demand have made it a worthwhile focus. Many mining companies have turned their attention to it and several inactive mines may soon be restarted.
On Thursday, Maxus Mining Inc (CNSX: MAXM) (FRA: R7V) revealed that it has secured option agreements for three antimony (Sb) properties and one tungsten prospecting site in British Columbia.
To obtain full ownership, Maxus will be required to pay the vendors C$150,000 in cash over the next two years, provide them with C$400,000 worth of stock and spend C$1 million on exploration by mid-2028. They, the “optioners” will retain a 2 per cent net smelter royalty on the assets.
“By diversifying our portfolio to include minerals essential for emerging technologies and the future of energy, we are uniquely positioned to capitalize on these evolving markets,” CEO Scott Walters said.
Historic samples taken from the antimony properties – Quarry, Hurley and Altura – have yielded grades as high as 20 per cent Sb. Neighbouring projects held by Endurance Gold Corp (CVE: EDG) (OTCMKTS: ENDGF) (FRA: 3EG) and Equinox Resources Ltd Fully Paid Ord. Shrs (ASX: EQN) have returned Sb grades of up to 69.98 per cent Sb.
Equinox just obtained an exploration permit for its Alturas project (not to be confused with Altura) – the site where that notably rich sample was pulled from.
Read more: NevGold pulls up even more promising antimony grades from Nevada property
Critical minerals are a hot topic at the moment
At the “Lotto” tungsten property being explored by Maxus, past prospectors pulled a grab sample with 10.97 per cent tungsten trioxide (Wo3) in 1980. Anything containing 1 per cent or more is generally considered to be high-grade.
Maxus recently listed its shares on the Frankfurt Stock Exchange with the ticker symbol $R7V. Stock has been traded on the Canadian Securities Exchange since May 9.
The junior company is one of many aggressively pursuing antimony mineralization with the aim of producing a mineral resource estimate that will intrigue investors. Antimony Resources Corp (CNSX: ATMY) (FRA: K8J0), NevGold Corp (CVE: NAU) (OTCMKTS: NAUFF) (FRA: 5E50), New Age Metals Inc (CVE: NAM) (OTCMKTS: NMTLF) (FRA: P7J), Global Tactical Metals Corp (CNSX: MONI) (FRA: A7F) and Felix Gold Ltd (ASX: FXG) (OTCMKTS: FXGDF) are other North American prospectors focusing on the critical mineral.
NevGold just intercepted 7.04 grams per tonne gold equivalent over 15.2 metres (6.37 g/t Au and 0.15 per cent Sb) at Nevada’s Limousine Butte project. Samples taken from the property have yielded grades as high as 9.6 per cent Sb.
Read more: NevGold raises $5.5M for promising gold-antimony prospects in Nevada
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