공시 • Jan 23
Hertz Energy Inc. Acquires Digital Database for Historic Lake George Antimony Mine, New Brunswick, Canada
Hertz Energy Inc. announced that it has acquired a comprehensive digital geological and technical database (the "Database") related to the historic Lake George Antimony Mine ("Lake George" or the "Project"), located in south-central New Brunswick. The Lake George Antimony Mine in New Brunswick, Canada, was North America's largest primary antimony producer, operating from the 1870s until its closure in 1996 due to poor market conditions (Government of New Brunswick, Mineral Commodity Profile No. 12, 2018). The Lake George Antimony Mine is currently under care and maintenance and owned by the Province of New Brunswick and is expected to be put up for tender in the coming months. The Company's Lake George Antimony-Tungsten-Gold Project ("Tungmony Project") is a strategically positioned claims package that surrounds the past-producing Lake George Antimony Mine, and Hertz Energy has secured institutional support as a back stop and plans to submit an aggressive bid to acquire the Lake George Antimony Mine from the Province of New Brunswick in order to restart the mine. The mine produced 20,220 tonnes of antimony from 1876 to 1990 and was formerly the largest antimony producer in North America. The closure of the Durham Mine was announced on January 19th, 1990. The mining lease ("M.L. 250") was transferred to Apocan Inc. on February 27th, 1990. In 1996, Apocan completed planning and on-site work to re-activate the mine, which was officially re-opened on November 5th, 1996. Apocan dewatered and operated the mine for a short period of time in 1996; however, because of a problem with the hoist and falling antimony prices, operations were once again suspended in December 1996. A compilation of all available historical information was completed in order to help evaluate the economic potential of the Lake George Antimony Mine Property. There are four historical mineral reserve estimates published for the Lake George Antimony Mine Property. The Database consolidates decades of historical exploration, mining, and technical work completed at the mine and provides Hertz Energy with a modern, integrated foundation to support future technical evaluation and exploration planning. The Database includes a fully integrated three-dimensional (3D) geological and mine model generated from digitized historical surface and underground level plans for the historical Lake George Antimony Mine. The model incorporates 452 historical surface and underground drill holes, including underground development around the historical Lawrence and Adams mine shafts, which are peripheral to the main Durham and Proust shafts. Also included is the complete historical drill hole database used to support a 2014 historical mineral resource estimate ("Historical Estimate") for Lake George, comprising 2,467 assay intervals totaling 1,768 metres of sampled core from 452 historical diamond drill holes, representing a cumulative drilled length of 85,217 metres, along with compiled assay data from underground drilling. The Database further contains all supporting files from the 2014 historical estimate, including geological and grade interpolation parameters, variography, statistical analyses, mineralized wireframes and polygons, volumetric calculations (with and without mining pillars), and grade estimation and validation files. In addition, Hertz Energy has acquired a recommended diamond drilling program designed to test the down-plunge extent of the principal mineralized zones, providing a framework for future exploration and drilling activities. The Database includes historical geological reports, maps, and scientific publications related to the Lake George antimony and tungsten deposit, including all relevant historical work reports submitted to the New Brunswick Department of Natural Resources and Energy Development (DNRED) by previous operators. With Hertz controlling the Lake George Antimony-Tungsten-Gold Project ("Tungmony Project"), a large, contiguous land package along favorable geological trends that surround one of Canada's leading past-producing critical mineral assets, the Company's Tungmony Project's scale and location provide optionality beyond the historic Lake George Mine and supports a long-term growth story rather than a single-asset thesis. Hertz Energy intends to complete a thorough review and verification of the acquired database, including validation of historical drill hole, assay, and geological information by a Qualified Person(s), prior to using the Database to support future exploration, drilling, and technical studies at Lake George. Concurrently, Hertz Energy will be executing an aggressive exploration program on its 100%-owned Lake George mineral claims that surround the Lake George Antimony Mine with a goal to outline a mineral resource for future feed to a re-activated Lake George Mine. Hertz Energy has secured financial support for a tender bid to be made to the Province of New Brunswick to acquire the historical Lake George Antimony Mine in 2026 when it is put up for tender. The Lake George Antimony-Tungsten-Gold Project ("Tungmony Project") is located approximately 30 kilometres southwest of Fredericton, New Brunswick, and surrounds the historical Lake George Mine, once one of the largest antimony producers in North America. The project is currently 100% owned by Hertz Energy Inc. (CSE: HZ), which acquired 93 mineral claims covering roughly 2,104 hectares in two contiguous blocks around the former mine site. While the mine itself remains under the care and maintenance of the Province of New Brunswick, Hertz has initiated discussions with the provincial government regarding the potential acquisition or tender of the mining lease. Geologically, the Lake George area hosts a complex polymetallic system characterized by antimony, gold, molybdenum, and tungsten mineralization. The mineralization occurs mainly within Ordovician sedimentary and volcanic rocks situated along the contact with the Lake George granodiorite intrusion. Structural controls, including north and northwest-trending faults and en-echelon vein systems, play a critical role in localizing mineralized zones. Antimony is found primarily as stibnite, typically in quartz-carbonate veins ranging from one to two metres in thickness that dip gently to the north. Several of these veins, along with associated gold-bearing systems, were developed historically in a series of underground workings that extended over two kilometres along strike and to depths exceeding 400 metres. Mining at Lake George dates back to the late 1800s, with several phases of modern production between the 1970s and 1990s.