FULL DISCLOSURE: This is sponsored content for Hertz Energy.
Hertz Energy (CSE: HZ) evidently is going all-in on antimony, announcing last night that it has acquired a second project which is said to be prospective for the metal.
The project, referred to as the Lake George Antimony Property, is found in the province of New Brunswick, 30 kilometres to the southwest of Fredericton. Comprised of 93 mineral claims, the property surrounds the past producing Lake George Antimony Mine, and contains prospects for antimony-gold mineralization along strike to both the southwest and northeast, and downdip to the north.
The Lake George Antimony Mine historically operated from 1876 through to 1996, with antimony ore extracted from multiple deposits on site. The mine, which extended to depths of up to 400 metres below surface, consisted of three shafts and ten levels of underground development. Production amounted to 34,417 tonnes of antimony concentrate at grades between 65% to 66% from 1972 through to 1981 at the first deposit, while the second deposit saw 1 million tonnes of 4% antimony extracted from 1985 through to 1990.
The Lake George Antimony Mine remains in care and maintenance, with ownership by the Province of New Brunswick. Hertz Energy is said to presently be in discussions about a possible tender of the mine lease in the coming months.
READ: Hertz Energy Kicks Off Exploration at Québec’s Harriman Antimony Property
Mineralization was found primarily in four veins at the mine, which varied from one to two metres in width and extended for over 1 kilometre in depth and 2 kilometres along strike. Similar geology is believed to extended onto Hertz’s newly acquired claims surrounding the historic mine, with the new property said to cover approximately 10 kilometres of strike length.
Initial exploration is set to consists of detailed geological database compilations, along with initial prospecting, geological mapping, and soil geochemistry surveys.
Hertz Energy last traded at $0.10 on the CSE.
FULL DISCLOSURE: Hertz Energy is a client of Canacom Group, the parent company of The Deep Dive. Canacom Group is currently long the equity of Hertz Energy. The author has been compensated to cover Hertz Energy on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. We may buy or sell securities in the company at any time. Always do additional research and consult a professional before purchasing a security.
