Apex Critical Metals has announced the acquisition of the Bianco Carbonatite Project in north-western Ontario, near the community of Big Beaver House.
Under the terms of the sale agreement, Apex Critical Metals will acquire a 100% interest in the claims for a consideration of C$30,000 ($21,420) in cash, to be paid upon signing of the agreement.
Additionally, the company will grant the vendor a 2% net smelter returns royalty interest in the minerals produced from the claims once commercial production commences.
The project covers a large carbonatite complex that has seen little to no historical exploration.
The Bianco Carbonatite Project is approximately 12km south-west of the Kingfisher Lake First Nation and 156km north of Pickle Lake, Ontario.
It encompasses 85 single cell mining claims covering approximately 3,735ha. It is characterised by a geophysical magnetic anomaly consistent with carbonatite complexes observed in the region.
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By GlobalData
The project was originally identified and mapped during an Ontario Geological Survey in the 1970s and lies within an area known for significant niobium (Nb) mineralisation.
Strategically situated between the Big Beaver House and Schryburt Lake Carbonatite projects, the Bianco Carbonatite Project is in proximity to historical results that are indicative of the potential for significant mineral deposits.
These results include assays of 2.92% niobium pentoxide (Nb2O5) over 1.6m and 1.05% Nb2O5 over 2m at the Big Beaver House property, as well as sampling results of 1.82% Nb2O5 from a grab sample and 0.40% Nb2O5 over 2.43m at the Schryburt Lake Carbonatite property.
Apex Critical Metals CEO Sean Charland said: “Carbonatites are among the most productive sources of niobium, rare earths and phosphate worldwide.
“By adding Bianco to our portfolio, we are expanding our focus on these valuable systems, which are critical for industries ranging from clean energy to advanced critical technologies.”
