Molten Metals Corp. Awarded the Bear Creek (Medvedi Potok) Tin Mine in Slovakia
Vancouver, British Columbia--(Newsfile Corp. - September 21, 2022) - MOLTEN METALS CORP. (CSE: MOLT) (the "Company"), is pleased to announce that its wholly-owned subsidiary, Slovak Antimony Corp., has been awarded the exploration license for the Bear Creek (Medvedi Potok) Tin mine at Hnilec in central Slovakia.
The Medvedi Potok license is located 25 km south of Spišská Nová Ves city and 35km north of Rožňava, in the same region as the company's Tienesgrund Antimony-Gold project.
The license awarded covers the historic resource in the central part and basically copies the former exploration area. The area of the license is 4.37 kms2.
To view an enhanced version of Figure 1, please visit:
The exploration began on the result of a Sn soil anomaly and ran from 1971-1981 by Geologický prieskum, a state-owned enterprise. The report(1) from this exploration project is very detailed with high-quality geological maps, underground adit maps with sampling or drilling locations, drillhole logs, sampling results etc.
During this period, the technical team of Geologický prieskum excavated 36 trenches, drilled 47 surface drill holes, 82 underground drill holes, excavated two adits (with a total length of 5.3 kms) and one shaft of 10m depth.
At the time, a reserve was calculated using the Soviet-style classification of mineral deposits. Based on the exploration results, a historical reserve of 863 kt of ore with 0.19% Sn grade was calculated. The Sn-rich parts of the Medvedi Potok deposit are found in veins, however the tonnage in these veins represents only 8% of the reserves (71 kt in total).
|Block||Ore type||Tonnage||Sn %||Metal content (tons)|
Table 1: Reserves calculation of Medvedi Potok Sn deposit.
Note: Historical resources or reserves that have been estimated by previous operators are not NI 43-101 compliant.
Molten Metals CEO, Christopher Ecclestone, commented, "We identified this asset some months ago and made an application for it and are very pleased to now add it to our asset base in Slovakia. The processing circuit that the company recently acquired is also suitable for processing of cassiterite so our goal will be to alternate processing of Antimony and Tin at our facility. Our next task at Bear Creek will be reopening adits to access the historic resources outlined by State geologists in the Communist era."
General Slovakia Exploration Update
Detailed mapping and bulk sampling will be completed on the project over the coming months to advance the company towards production. The company plans to reopen one, or more, of the adits at Tienesgrund in late 2022. The company is seeking quotations from mining contractors for the reopening of the Bear Creek adit(s).
Tin is primarily used for soldering circuit boards, but researchers are starting to use tin to coat the anode in Li-ion batteries and its use in the battery market has continued to expand. In 2017, researchers from the Massachusetts Institute for Technology (MIT) in the United States estimated that Tin is the metal most likely to be positively affected by future technology as it is a vital component in the manufacturing of electric vehicles, advanced robotics, renewable energies and advanced computing. Tin's usage across such a wide modern manufacturing spectrum is what put it on the U.S. list of critical minerals.
About the Company
Molten Metals is developing Antimony & Antimony-Gold mine projects. Antimony is a critical element with many industrial applications, including ammunition and fire retardants. The upcoming potential new usage is in the mass- storage devices - molten-salt batteries. For further information, please refer to the Company's disclosure record on SEDAR (www.sedar.com) or contact the Company by email at email@example.com or by telephone at 778.918.2261.
For Additional Information Please Contact
Chief Executive Officer
Molten Metals Corp.
Molten Metals Corp.
(1) Drnzík E., Drnzíková L., Valko P., Mandáková K. (1982): Final report and reserves calculation - Hnilec - Medvedi potok - VP - Sn
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
This release includes certain statements that may be deemed "forward-looking statements". Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "would", "may", "could" or "should" occur. Forward-looking statements in this press release include Molten Metals's plans to continue aggressive exploration at Unga in 2021 and its goal of defining a resource in excess of one million ounces, its plan to continue infill drilling to expand to depth where the system remains open, and its belief that the SH-1 prospect has considerable potential for expansion. Although Molten Metals believes that the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not a guarantee of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, weather, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/137994