Hertz Energy Acquires Lake George Antimony Property in New Brunswick

What does this acquisition mean for the company?

Hertz Energy Corp. has acquired the Lake George Antimony Property in southern New Brunswick, Canada. The property, which consists of 1,255 hectares, is located approximately 80 kilometers west of Fredericton and contains numerous antimony occurrences. Antimony is a rare metal used in a variety of industrial applications, including batteries, semiconductors, and flame retardants.

The acquisition of the Lake George Antimony Property is a significant development for Hertz Energy. It gives the company access to a large, high-grade antimony resource and will allow it to enter the antimony market. Antimony is a critical mineral that is essential for a number of important technologies. The global demand for antimony is expected to grow in the coming years, driven by increasing demand from the automotive and electronics industries.

What are the details of the acquisition?

Hertz Energy acquired the Lake George Antimony Property from a private individual for a total consideration of $2 million. The property consists of 1,255 hectares of mineral claims and is located in a highly prospective antimony region of New Brunswick.

The property has been explored intermittently since the early 1900s and has a number of known antimony occurrences. Historical exploration work on the property includes surface sampling, trenching, and drilling. The results of this work indicate that the property has the potential to host a significant antimony deposit.

What are the next steps for Hertz Energy?

Hertz Energy plans to conduct further exploration work on the Lake George Antimony Property to evaluate the extent of the antimony mineralization. The company will also conduct metallurgical test work to determine the best way to extract the antimony from the ore.

Once the exploration and metallurgical test work is complete, Hertz Energy will make a decision on whether to develop the Lake George Antimony Property into a mine. The company believes that the property has the potential to be a significant antimony producer and is committed to developing it in a responsible and sustainable manner.