Makenita Resources (CSE:KENY | WKN:A40X6P | OTCID:KENYF) is planning the next phase of work at the Sisson West Tungsten Project in Canada, after completing a work program encompassing a helicopter-based survey.
President Jason Gigliotti says the geological team is reviewing and interpreting the data from the survey.
“We also expect to be active shortly on our 51,304 contiguous-acre Serpentinization Iron-Magnetite Project located in Saskatchewan directly bordering Max Power Mining (CSE:MAXX),” Gigliotti says.
“With just over 30 million shares outstanding, success on the ground on any of our projects would have a meaningful impact on the company given such a small float. Management anticipates a very active remainder of the year and is very optimistic about the near- and mid-term outlook for Makenita.”
Earlier this month, Makenita doubled its Serpentinization Iron-Magnetite Project, adding further potential for naturally occurring hydrogen production by stimulating iron-rich magnetite formations through serpentinisation.
The Sisson West Project consists of 9,845 contiguous acres that are prospective for tungsten in New Brunswick, Canada.
Tungsten has always been a valuable material due to its unique properties, such as its extremely high melting point, strength, and durability. It is used in a wide variety of applications, including manufacturing hard metals, electronics, and lightbulb filaments, as well as in military and aerospace technologies.
The combination of China’s tightening control over tungsten production and the growing demand for this critical material has made tungsten even more valuable on the global market.
Makenita Resources is a Canadian junior explorer focused on discovering critical mineral deposits.
Write to Aaliyah Rogan at Mining.com.au
Images: Makenita Resources
