Two antimony and one tin projects in Slovakia
Vancouver, British Columbia–(Newsfile Corp. – October 30, 2024) – Military Metals Corp. (CSE: MILI) (OTCQB: MILIF) (FSE: QN90) (the “Company” or “Military”) announces I did. The Company has entered into a definitive agreement with 1509149 BC Ltd., 1458205 BC Ltd. (hereinafter referred to as the “Target Company”), which are wholly owned subsidiaries of the Company, and 1509149 BC Ltd., which is the controlling shareholder of the Target Company, pursuant to which the Company will acquire 100% of the shares. announced that it would. The outstanding common shares of the Target Company’s capital (hereinafter referred to as the “Target Shares”) will be acquired through a triangular merger (hereinafter referred to as the “Merger”).
“By acquiring this premier antimony project in Slovakia with historic resources, we are taking a transformative step to strengthen Europe’s access to essential raw materials. The infrastructure will allow this brownfield site to work towards developing reliable domestically produced antimony.”Europe will need antimony supplies as it faces increasing supply chain pressures,” CEO Scott Scott said. Mr. Eldridge said. “This acquisition reinforces our commitment to reduce dependence on imports from China, ensure stability in European markets and enable Western countries to drive a future of more resilient self-sufficiency in critical materials. It reflects.”
About the target audience
Target owns three brownfield projects in Slovakia. Of the three projects, Trojarova is the most advanced (“Trojarova”). Located in western Slovakia, it may be home to one of the most important known primary antimony deposits in the European Union. Historically, between 1980 and the 1900s, 63 holes were completed in the deposit over a drilling length of 1.5 kilometers, with approximately 1.7 kilometers of additional underground work carried out. The deposit houses historic (non-conforming) antimony and associated gold resources classified under the Soviet-era Russian classification system.
In addition, the military acquired both tin and second antimony assets in Slovakia. The tin property (“Medvedi Potok”) likewise features significant historical drilling, underground development, and historic (non-compliant) tin resources. The Tiennesgrund antimony property has more than 20 small underground facilities along its 10 km length with reported historic production.
The consideration for the acquisition of 100% of the Target Shares will consist of 10,000,000 common shares of the Company’s capital stock (the “Company Shares”), with a deemed issue price of $0.56 per Company Share, for a total aggregate purchase price of C$5.6 million. The Company also assumed the Target Company’s obligations with respect to outstanding stock purchase warrants, which entitle the holder to acquire up to 3,499,997 shares of the Company’s stock at an exercise price of $0.10 per share.
“The Troharova antimony project is potentially one of the most important primary antimony deposits in Europe. “The escalating trade war and geopolitical tensions have made this strategic metal with multiple applications even more important,” said CEO Scott Eldridge. “The EU’s Critical Materials Act has opened up multiple sources of funding from local European institutions to facilitate the development of strategic metals within Europe’s borders.”
Antimony is an essential component in everything from battery technology to advanced military applications such as night vision and infrared sensors, and is classified as a critical mineral by the United States, Canada, the European Union, and the United Kingdom. Currently, more than 90% of the world’s antimony reserves are concentrated in China, Russia, and Tajikistan. The military seeks to target antimony with the aim of contributing to the global supply of antimony and filling gaps that exist in Western countries’ ability to obtain this vital mineral.
About the project
Discovered in the late 1970s, Toloharova was the focus of extensive surface and subsurface exploration from 1983 to 1995, with 63 core holes over a total of 14,330 meters and 1.7 km of underground work completed. Efforts continued over the years, with additional trenches dug and holes drilled. Underground development work, which began in 1990, will eventually consist of a 300 meter long shaft connected to a more than 700 meter long access road at the base of the mineralized zone, which will provide access to the mineralized zone for sampling purposes. Seven cross-cuts were established. These efforts culminated in a multi-volume study consisting of drilling logs, analyses, drilling plans, maps and cross-sections, deposit model studies, petrographic studies, metallurgical studies, etc., produced by the Slovak Institute of Geology. It was published as a synopsis of a multi-volume report. Reported in 1992 (“1992 Report”). Once the merger is complete, the Company will proceed to verify this historical estimate through confirmatory drilling in order to be able to classify the Toloharova Mineral Resources as current in accordance with National Statute 43-101. Toloharova’s historical estimates were classified using the Slovak version of post-Soviet Russia’s new classification system. It is not directly comparable or compatible with the Western classification system defined by the Canadian Institute of Mining, Metallurgy and Petroleum (the “CIM Definition Criteria”) for Mineral Resources and Mineral Reserves.
The 1992 report included a table featuring 10 alternative historical resource estimates, 5 of which focused on the antimony component of the mineralized system and 5 focused on the gold component. Each of the five groups is characterized by decreasing tonnage as antimony and gold grades increase.
Historical alternative resource estimation scenarios for Trojarova
The Slovak Geological Institute, the state agency that carried out all exploration and underground development work at Troyalova, classified the resource as ‘P1’ in the Slovak version of the Russian classification system. P1 is the closest approximation to an “Inferred Mineral Resource” within the Canadian Institute of Mining, Metallurgy and Petroleum (“CIM”) classification system. “Inferred Mineral Resource” is defined by CIM as that portion of a Mineral Resource whose quantity and grade or quality are estimated. It is based on limited geological evidence collected through appropriate sampling techniques from locations such as outcrops, trenches, pits, boreholes, and boreholes.
Considerable work remains before the mineralization recorded at Toloharowa can be classified as a current mineral resource. Historical drill logs must be translated and transcribed into a log format suitable for resource estimation purposes. All collar locations and underground maps must be digitized and georeferenced. Depending on the assessed quality and reliability of these data, resource estimating geologists will determine the extent of confirmatory drilling required to enable the mineralization recorded at Toloharowa to be classified as a present mineral resource. It will be possible to do so. A qualified person has not performed sufficient work to classify historical estimates as current mineral resources or mineral reserves. The military does not treat historical estimates as current mineral resources or mineral reserves.
The Tiennesgrund Antimony Project, located in eastern Slovakia, is a 10-kilometer-long license covering a large faulted/sheared antimony gold vein system with multiple drill holes and a long history of artisanal-scale mining. configured. The nearby Medvedi Potok site has a classic tin vein system among its green intrusions. Features underground facilities and historic (non-conforming) resources. Additionally, upon completion of the merger, the Company will inherit a small processing facility in Slovakia owned by the Target Company. Its inclusion in our strategic story highlights our commitment to efficiency and innovation, making it a key differentiator in today’s market.
As global demand for antimony soars and the critical mineral supply chain becomes increasingly geopolitically tense, militaries are seeking to take advantage of strategic opportunities to acquire assets that can meet this global demand. Masu.
Map showing the location of military facilities in Slovakia
The technical content of this release has been reviewed and approved by Avrom E. Howard, MSc, PGeo, Military Metals Geological Consultant and Qualified Person as defined by NI 43-101.
About Military Metals
We are a British Columbia-based mineral exploration company engaged in the acquisition, exploration and development of mineral properties, primarily antimony.
This news release contains “forward-looking information.” Forward-looking statements often, but not always, include words such as “plans,” “expects,” “anticipates,” “budgets,” “plans,” “estimates,” “forecasts,” Can be identified by the use of words. Variants of such words or phrases (including negative variations) are intended, “anticipate,” or “believe,” or mean that a particular action, event, or result “might.” ”, “may”, “will”, “might”, or ““will be taken, happened, or accomplished.” Forward-looking information in this news release includes statements regarding the completion of the merger, future plans for exploration activities and assumptions regarding the continuation of global demand for antimony. A variety of factors, including known and unknown risks, many of which are beyond our control, could cause actual results to differ materially from the forward-looking information in this news release. These include the satisfaction of conditions to consummate the merger, geopolitical developments related to the supply of antimony, the continued use of antimony and the availability of substitutes, and the capital related to the assets that are the subject of this news release. and labor availability, results include. future exploration activities, which cannot be guaranteed, and other factors that may affect both the merger and future activities with respect to assets held by the Target; Additional risk factors are also described in our public filings on our SEDAR+ profile (www.sedarplus.ca). The forward-looking statements contained herein are made as of the date of this news release, and the Company does not intend to make any forward-looking statements, whether as a result of new information, future events or results, or otherwise. We undertake no obligation to update the description. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking statements if circumstances or management’s estimates or opinions change, except as required by securities laws. Accordingly, readers are cautioned not to place undue reliance on forward-looking statements.
The Canadian Securities Exchange has neither approved nor disapproved the information contained herein and does not accept responsibility for the adequacy or accuracy of this news release.
