Rush Rare Metals Advances Two Key Projects: Uranium in Wyoming and Niobium in Quebec
Vancouver, Canada
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April 03, 2024 09:56 AM Eastern Daylight Time
Rush Rare Metals CEO Peter Smith joined Steve Darling from Proactive to share news about the mineral exploration company's focus on its Boxi Property in Quebec and the Copper Mountain Project in Wyoming. The company recently announced the staking of the Knob claims in Wyoming, comprising 52 mineral claims totaling 780 acres.
According to Smith, these claims are now part of the Copper Mountain Project, subject to an option/earn-in agreement between Rush and Myriad Uranium. Under the agreement, Myriad can earn a 50% interest in the project by spending $1.5 million exploring Copper Mountain and increase its interest to 75% by spending a total of $5.5 million. As Myriad meets certain progress thresholds, Rush will receive Myriad shares and other incentives.
Conversely, the Boxy property in Quebec, initially acquired for its uranium potential, has shifted focus towards its exceptional niobium prospects. Niobium, a lesser-known element, is highly valued for its application in enhancing steel's strength and resistance, making it crucial for major infrastructural projects and as a component in superconductors and magnets. Recent exploration has revealed a mineralized dike with high-grade niobium samples, indicating a promising potential compared to other niobium mining operations.
For the upcoming year, Rush Rare Metals plans to extend exploration efforts at the Boxy property, incorporating more stripping, channel sampling, and drilling to gain a comprehensive understanding of the niobium deposit's extent and quality. The objective is to ascertain the deposit's economic viability and prepare for future development. This exploration phase is eagerly anticipated by the company, given the substantial market opportunity mirrored in the success of similar niobium discoveries, highlighting the potential for significant value creation.
Contact Details
Proactive North America
Proactive North America
+1 604-688-8158
