Makenita Resources (CSE:KENY | WKN:A40X6P | OTCID:KENYF) has expanded its land package at the Serpentinization Iron-Magnetite Project in Saskatchewan, Canada, from 51,304 acres to a district-sized 116,149 acres, with management planning to commence work imminently.
The project borders Max Power Mining (CSE:MAXX), with Makenita noting it is prospective for both iron and magnetite.
Makenita President Jason Gigliotti says the addition to the land package at the Serpentinization project comes at a time of significant corporate growth for Makenita.
“The project offers strong prospectivity for iron and magnetite, and in certain situations where large iron formations are rich in magnetite, that formation can be stimulated to produce naturally occurring hydrogen,” Gigliotti says.
“Makenita is entering the most active period of growth in the company’s history, and we have just added additional marketing to assist in getting the story out to a larger audience.
“Makenita has just over 35 million shares outstanding, so any success in the ground could have an outsized impact on the company.
“Management is very optimistic about the short- and long-term objectives and goals of Makenita, and we plan to work as hard as possible for our shareholders.”
The news comes a month after Makenita expanded its land package at the site from 23,517 to 51,304, as previously reported by Mining.com.au.
Makenita Resources is a Canadian junior resources explorer focused on assembling a portfolio of low-risk properties at the exploration stage.
Write to Amy Rotman at Mining.com.au
Images: Makenita Resources
