Molten Metals Corp.’s (CSE: MOLT) 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 sq. km.
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 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).
“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,” CEO, Christopher Ecclestone, said.
“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).
For further information please visit: https://www.moltenmetalscorp.com/