Vancouver, British Columbia--(Newsfile Corp. - July 10, 2024) - Geologica Resource Corp. (CSE: GRCM) (FSE: 862) ("Geologica" or the "Company") is pleased to announce the strategic acquisition of the "Titan" property ("Titan") in the Atlin mining district of British Columbia. These claims are adjacent to the Llewellyn Fault Zone (LFZ), a major crustal-scale structure extending over 150 kilometers and known to host several gold, silver, and base metal showings, including the past-producing Engineer and Mount Skukum gold mines.
Exploration at Titan is primarily focused on polymetallic vein systems potentially associated with splays off the highly prospective Llewellyn Fault Zone. Table 1 displays select grab samples taken in 2018 from the Buchans Creek showing in the north-central part of the property.
Table 1. Select 2018 Grab Samples from Buchans Creek Showing
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The Buchans Creek showing is a high-grade polymetallic vein measuring 1-1.5 meters wide. This vein has been observed at three distinct locations along the surface and has been traced for 10-20 meters at each exposure. The vein is enriched in gold, silver, copper, lead, zinc, antimony, and tellurium. 2018 sampling results returned up to 11.4 g/t Au, 0.81% Cu, >100 g/t Ag, >0.2% Sb, and >0.1% Te. Airborne magnetic and EM surveys have traced an anomalies extending from the Buchans Creek showing for 2 kilometers south-southeast, overlapping with the historical Rupert I showing, which contains historical grab samples grading up to 4.1 g/t Au, 237.6 g/t Ag, 11.8% Pb, and 0.60% Zn.
Critical Mineral Significance
While historical exploration at Titan primarily focused on precious and base metals, recent sampling has identified elevated levels of antimony and tellurium. These elements are classified as critical minerals by the Canadian and U.S. governments due to their essential uses and supply constraints.
Antimony, a strategic critical mineral, is primarily produced in China and Russia, accounting for 70% of global production. With no antimony production in North America, the development of domestic supplies is critical. Analysts predict that global demand "cannot be met from current supplies" in the coming years. Antimony is crucial for military applications, digital circuitry, and next-generation liquid metal batteries, which are key to scalable energy storage for renewable sources like wind and solar power. The growing demand and limited supply have driven prices to record highs: Shanghai Metals Exchange data shows antimony ingot prices in China reached 127,500 yuan ($17,588.88) per metric ton on May 29, 2024, a 56% increase in 2024 alone. European prices have also surged to a record $21,000 per ton, a 75% increase this year.
Tellurium, another strategic critical mineral, is one of the least common elements on Earth. With an average concentration of only 3 parts per billion in most rocks, it is rarer than rare earth elements and eight times less abundant than gold. Historically, tellurium was used in metallurgy as an additive to steel and copper, lead, and iron alloys. Today, it is primarily used for manufacturing films essential for photovoltaic solar cells. Alloyed with cadmium, tellurium forms a compound with enhanced electrical conductivity, enabling thin films to efficiently convert sunlight into electricity. As of June 18, 2024, the spot market price for tellurium is $87,000 USD per tonne, up over 20% from its low in October. This represents a substantial increase from the average annual price of $38,000 USD per tonne in 2017. Notably, between 2017 and 2021, the U.S. imported 95% of its annual tellurium requirements.
Location
The Titan Property is located 35 km southwest of Atlin in the northwest corner of British Columbia.
History
In 1899, the Rupert and White Moose polymetallic veins were discovered along the western shore of Tagish Lake's Taku Arm opposite the Engineer Gold Mine. These were explored by trenches, adits, and shafts. In 1904, 840 kg of sorted ore from the White Moose quartz veins assayed 0.78 oz/t Au, 50.34 oz/t Ag, 7.36% Cu, 3.85% Zn, 4.79% Pb, and 1.37% Sb (Minister of Mines Annual Report, 1904). After 1918, economic and logistical challenges halted further exploration within the Titan property until the 1970s. It should be noted that these lakeshore showings are located off the current Titan property to the east.
From 1979 - 1990, United Keno Hill Mines Limited (UKHM) and Placer Dome explored the property with fieldwork directed towards assessing gold-silver vein potential on White Moose Mountain. This work identified 11 polymetallic vein occurrences. The claims being acquired host the most promising of the 11 prospects, the Rupert and Buchans Creek prospects.
In 2003, Eagle Plains Resources optioned the Titan property. From 2003-2014, Eagle Plains conducted several work programs consisting of geological mapping, soil sampling, rock sampling, an airborne magnetic and radiometric survey, a SkyTEM survey.
Exploration Plans
Assay data has been compiled for over 1,000 soil samples and 300 rock samples. The Company has also obtained previously flown SKYTEM survey data. This information will aid new exploration efforts, focusing on the Rupert - Buchans Creek trend. Much of the area between the two showings is located in a plateau area covered by talus and reworked glacial moraine material mixed with talus fines, silt, and clay. Geophysics will be used to explore this area in more detail.
Doug Unwin, CEO and President of the Company, stated, "We are very excited with the addition of the Titan Property to Geologica's property portfolio. This addition enhances the company's Topley copper/gold project, adding rare critical metals to the portfolio and significant value."
Property Purchase
The Company will pay the vendors $3,000 once the title to the claims has been transferred to the Company by the vendor. Geologica has committed to use the vendors company or a company approved by the vendor to conduct any exploration work on the property. The vendor has been granted a 2% net smelter royalty. 1% of the royalty may be purchased buy Geologica for $1,000,000. One of the vendors is not arms length to Geologica.
Figure 1. Satellite Image of the Titan Property
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The Company has engaged Frontier Merchant Capital Group to provide investor awareness. FronTier's Flex Marketing, is an industry leading, cross-media marketing program. Flex Marketing offers comprehensive IR and media marketing solutions to small and midcap companies seeking to create corporate awareness. The Flex Marketing service allows clients to choose and combine from a dozen industry leading media add-on partner services. Along with FronTier's traditional roadshow and IR services. The contract is for six months at a cost of $54,000.
About Geologica Resource corp.
Geologica Resource Corp. is a mineral explorer, focused on exploration of copper and critical minerals for electrification, building shareholder value through the acquisition of projects with significant technical merit. The Company has an option agreement and purchase agreements for 100% of the mineral claims known as the Topley Project, located in central British Columbia. The company has now acquired the Titan rare critical minerals/copper/gold property. The Company continues to evaluate additional properties to explore.
Topley Copper Claims
Geochemistry has identified high priority copper exploration target areas and a kilometer-scale VMS target area aligned with regional magnetic targets
The region is known for its large porphyry, copper/gold, and copper/molybdenum deposits including past producing copper mines, Granisle and Bell
The property is on trend with the recent NAC discovery (1.09% Cu over 300M) in the Babine Lake Porphyry camp as well as the Duke deposit
The property is located in central BC, is Road Accessible, Near required labour and expertise and Cost effective to explore.
BC Hydro power lines transect the property and several water sources are available on the property
Porphyries contain the largest reserves of Cu and close to 50% of Au reserves in B.C.
Topley Copper Property consists of 10 mineral claims totaling over 4,2163,400 Ha with known prospects and showings.
Previous drilling on the claims has indicated intense hydrothermal alteration with Ag, Pb, and Zn mineralization (Dunning 2000). Sporadic regional till samples in the area are in the 90th percentile for As, Sb, Pb and Zn.
Further information on Geologica Resource Corp. can be found on the Company's website https://geologicaresource.com and on SEDAR at https://www.sedarplus.ca
The accuracy of the technical content of this overview had been reviewed by David Mark P.Geo. David is a Qualified Person as defined under NI 43-101, and a member of the Company's board of directors. He approves the technical content of this press release.
Neither the Canadian Securities Exchange ("CSE") nor its Market Regulator (as such term is defined in the CSE policies) has reviewed or accept responsibility for the adequacy or accuracy of this news release.
Doug Unwin
President & CEO
(604) 762-5355
doug.unwin@geologicaresource.com
Forward-Looking Statements
This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information is characterized by words such as "plan", "expect", "ensuring", "believe", "anticipate", "will", "would" and other similar words, or statements that certain events or conditions "may" or "will" occur. In particular, this news release contains forward-looking information pertaining to the Company's plans and objectives with respect to the Topley Project. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, changes in the state of equity and debt markets, fluctuations in commodity prices, delays in obtaining required regulatory or governmental approvals, environmental risks, limitations on insurance coverage, failure to obtain all necessary regulatory approvals, risks and uncertainties inherent in the exploration and development of mineral properties. Forward-looking information in this news release is based on the opinions and assumptions of management considered reasonable as of the date hereof, including, but not limited to, the assumption that general business and economic conditions will not change in a materially adverse manner. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information. The Company disclaims any intention or obligation to update or revise any forward-looking information, other than as required by applicable securities laws.
Dunning, J. K. (2000). 1999 Diamond Drill Program Report on the Len and Ful Property. Hudson Bay Exploration & Development Co. Retrieved from https://apps.nrs.gov.bc.ca/pub/aris/Report/26329a.pdf/
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SOURCE: Geologica Resource Corp.
