Molten Metals Announces Company Update
The Company's decision to acquire the Senneterre West Claims, included consideration of the desirable location near other projects in the Val d'Or area of Quebec, a prolific mining area in a prime mining jurisdiction. Quebec's supportive government policies, such as attractive tax incentives and streamlined permitting processes, create a favorable environment for attracting capital. The Senneterre West Claims are located in the eastern portion of the Val d'Or mining camp and are contiguous with Abcourt Mines' Pershing-Manitou project which hosts a current mineral resource. The claims straddle several regional scale faults that separate distinct volcanic packages and are spatially associated with gold occurrences in the district. The Company cautions that information concerning resources on contiguous claims is not necessarily indicative of mineralization on the Company's property.
The Company also announced the sale of its West Gore antimony project, located in Nova Scotia, to Military Metals Corp. in consideration for a cash payment of $85,000, pursuant to an asset purchase agreement. The Company determined not to proceed with the property following a review of past efforts on advancing the project and its future objectives.
The Company also announced on September 19, 2024, that a former director had advanced $100,000 to fund ongoing cash requirements of the Company. The Company determined this was preferrable to a dilutive financing. The loan bears interest at a rate of 15% per annum and is due on or before August 8, 2025. In connection with the loan, the Company issued bonus of 800,000 common shares.
For Additional Information Please Contact
Brooklyn Reed
Corporate Secretary Molten Metals Corp. 778.918.2261
Email: brooklyn@moltenmetalscorp.com
The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
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