Vancouver, British Columbia--(Newsfile Corp. - January 9, 2025) - Geologica Resource Corp. (CSE: GRCM) (FSE: 862) ("Geologica" or the "Company") intends to continue its exploration for critical metals Antimony and Tellurium at the 100% owned Titan property in the Atlin mining district.
The timing of this exploration and financing coincides with growing interest in antimony sources, as recent Chinese export restrictions have driven antimony trioxide prices to over $39,000 USD/tonne (https://www.deseret.com/utah/2024/12/25/china-banned-minerals-to-us/). China, which controls nearly half of global production and three-quarters of refining capacity, reduced U.S. shipments by 95% in October.
The Buchans Creek showing at the Company's Titan Property hosts a polymetallic quartz vein 1.5 meters in width. 2018 sampling results (Table 1) returned up to 11.4 g/t Au, 0.81% Cu, >100 g/t Ag, >0.2% Sb, and >0.1% Te. The antimony, tellurium, and silver values exceeded analytical detection limits (Table 1).
Table 1. Select 2018 Grab Samples from the Buchans Creek showing
Sample
Au (g/t) Fire Assay
Au (ppb) AQ200
Cu (ppm) AQ200
Pb (ppm) AQ200
Zn (ppm) AQ200
Ag (ppm) AQ200
Sb (ppm) AQ200
Te (ppm) AQ200
3864
3.864
3032.3
374.8
>10000.0
407
62.1
77.4
48.2
3865
2.467
2735.6
269.2
8788.4
232
34.6
31.3
9.1
3866
2.014
1686.6
29.6
1192
22
22.8
70.4
14.6
3867
7.197
5326.1
291.1
7139.7
73
25.6
67.1
17.6
3868
0.392
405.1
4047.8
2540.1
208
87.2
904.7
464.2
3869
11.4
13215.6
8139
5823.1
386
>100.0
>2000.0
>1000.0
3870
0.815
940.8
7456
3145.7
651
>100.0
>2000.0
805.9
Soil geochemistry and geophysical surveys have outlined a 3.5-kilometer prospective corridor extending south-southeast from Buchans Creek to the Rupert showing. This trend is defined by coincident magnetic lineaments, electromagnetic conductivity anomalies, and antimony-gold-silver-lead soil anomalies. Historical sampling at the Rupert returned up to 4.1 g/t Au, 237.6 g/t Ag, 11.8% Pb, and 0.60% Zn (Higgs, 2012). The area between Buchans Creek and Rupert is covered by glacial till.
Additional mineralization on the property includes the Hook prospect, located approximately 6 kilometers west of Buchans Creek, where gold mineralization occurs in a 10-20 cm wide quartz vein containing disseminated and blebby galena and pyrite hosted in granodiorite. Sampling of this vein returned 62 g/t Au (Brown and Higgs, 2009).
The Titan molybdenum-copper porphyry showing, approximately 7.5 kilometers southwest of Buchans Creek, consists of massive to disseminated molybdenite with chalcopyrite and pyrrhotite along the contact between gneiss and plutonic rocks. Historical sampling returned values up to 1.877% Mo from boulder samples and 0.966% Mo in outcrop, with associated copper values up to 2,873 ppm Cu (Downie, 2004).
Flow-Through Financing
Geologica has closed a first tranche of its previously announced flow through financing. The company will issue 500,000 flow-through units ("FT Units") at $0.05 per FT Unit for gross proceeds of $25,000. The terms of the financing are as announced December 18, 2024.
About Geologica Resource Corp.
Geologica Resource Corp. is a mineral explorer, focused on exploration of copper and critical minerals for electrification. 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 and optioned the Lincoln Gold property.
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.
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, and other risk factors set forth in the long-form prospectus of the Company dated July 22, 2022 under the heading "Risk Factors", a copy of which is available on the Company's SEDAR profile at www.sedarplus.ca. 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.
