Military Metals (CSE:MILI) has entered into an agreement to purchase additional claims surrounding the West Gore Antimony Project in Nova Scotia, Canada.
The new claims add a further 388 hectares to the 585 hectare landholding and is thought to comprise the balance of the West Gore antimony-gold mineralised system and historical mine workings.
Under the asset purchase agreement with ExplORE Resources, the company will pay C$235,000 ($262,803) over two years. ExplORE will also receive a 3% net smelter royalty over the claims.
Military Metals says acquiring these claims will give the company significant coverage over the mineralised system including all historical mine workings and known antimony-gold occurrences with additional ground along trend in both directions.
In turn, this is expected to enable Military Metals to approach the antimony-gold system in its entirety to unlock future value.
All relevant data is in the process of being compiled into an integrated database, with exploration plans to follow.
Between 1914 and 1917, the West Gore Project produced 7,000 tonnes of antimony concentrate at 46%. As a result, the project was a significant contributor to the Allied war effort during World War One until a shipment to England was sunk by a German U-boat, which bankrupted the operating company at the time.
The historical West Gore mines have a mining history dating back to 1883. Between 1883 and 1917, gold and antimony production remains unknown. However, between 1914 and 1917, nearly 32,000 tonnes were mined, which also recovered an estimated 6,900 ounces of gold.
Military Metals is a British Columbia-based mineral explorer focused on acquiring, discovering, and developing properties prospective for antimony and gold.
The company will be exhibiting at this year’s Prospectors & Developers Association of Canada (PDAC) event being held from 2-5 March in Toronto, Canada.
The annual award winning convention brings together up to 30,000 attendees from over 130 countries for its educational programming, networking events, as well as business and investment opportunities.
Mining.com.au is an official media partner for the upcoming event.
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Write to Aaliyah Rogan at Mining.com.au
Images: Military Metals
