Military Metals (CSE:MILI) has signed a definitive agreement with Amador Mining to acquire the Last Chance Antimony-Gold Project in Nevada, US.
The project lies 18km west of Kinross Gold’s (TSX:K) Round Mountain gold mine, and historical mining and drilling indicates that antimony mineralisation is structurally and stratigraphically controlled.
Last Chance hosts numerous historical antimony-gold occurrences and a solitary shaft where limited production is recorded. The mineralisation occurs within a sequence of paleozoic carbonates and lower mesozoic metamorphosed shales and carbonates.
In November 2024, the British Columbia-based explorer signed a letter of intent with Amador to acquire Last Chance for US$45,000 ($69,891) and a 2% net smelter royalty.
Military Metals has already paid a US$10,000 exclusivity fee to the seller.
Last month, the company also staked five additional mining claims to ensure any additional ground considered prospective remains available for Military to explore.
Military Metals has planned a program of detailed surface mapping and sampling, which is scheduled to begin in Q2 2025. Once completed, a drilling program will be conducted to test the full potential of the project’s system.
Military Metals is focused on exploring and developing metals required for defence technology. The company focused particularly on antimony, as it provides essential materials that strengthen military equipment and infrastructure.
Write to Aaliyah Rogan at Mining.com.au
Images: Military Metals
