MONTREAL, Dec. 2 (Korea Bizwire) – Brunswick Exploration Inc. (“BRW” or the “Company”) is pleased to announce that is has acquired multiple claims throughout New Brunswick, totaling 6,527 hectares, located in southeastern and central New Brunswick, collectively known as the Caledonia Tin and Catamaran Tin projects (“Properties”). The Properties were acquired by claim staking and are located roughly 30 kilometers south of Moncton and 15 kilometers west of Doaktown, respectively.
Mr. Killian Charles, President of BRW, commented: “We have chosen the most prospective tin targets across New Brunswick based on till geochemistry, proximity to existing tungsten-tin deposits and favorable geology. It is important to note that New Brunswick is host to North America’s largest undeveloped tin deposit. Tin fundamentals are incredibly strong with spot prices recently reaching historical highs due to export curtailments in Indonesia. Tin remains the best performing metal in 2021 with forecasted demand expected to remain very strong, so we are excited to launch a tin exploration program in a highly prospective and stable Canadian jurisdiction.”
Prospectors have begun working on the properties and we will continue with Phase 1 reconnaissance prospecting along with a soil sampling program in Q2 2022. Compilation work included the creation of a Tin Favourability Factor (“TFF”) using multi-element Sn, W, Mo, As, Be, Bi, Cs and base metal concentrations in the regional government till geochemical data base. The TFF allowed the Company to highlight areas of tin potential across the province. The generated targets from the TFF were comparable and, in several instances, better than anomalous tills taken in the vicinities of the Burnt Hill and Sisson Brook Deposits.
Included in Canada’s List of Critical Minerals in 2021, tin is predominantly used as an alloy for solder in electronics and superconducting magnets. The spot price of tin has risen over 200% since January 2021 and reached a record price of US$40,680/tonne earlier this month. With demand for smart devices and electronic components expected to continue growing over the coming years, coupled to the phasing out of traditional lead solders, tin demand is expected to remain elevated with forecasted growth in excess of 7% in 2021, according to the International Tin Association. Importantly, tin supply is very precarious, being largely dependent on environmentally difficult alluvial mining in Indonesia and southeast Asia. Recently, Indonesia announced significant restriction to tin exports by 2024, highlighting the need for safe and sustainable production in North America.
Caledonia Tin Project Overview
The total Property comprises 3 claims and 109 units with a total surface area of 2,450 hectares. The Caledonia Project is located roughly 30 kilometres south of Moncton and roughly 7 kilometers west of Hillsborough. Government of New Brunswick till samples were taken at roughly 2-kilometer spacing and are underlain by Carboniferous sediments as well as sediments, granites, granodiorites and volcanics from the Neoproterozoic. The Project is also in close proximity to the regional Caledonia-Clover Hill Fault that demarcates Avalonia from Ganderia across the Province.
Catamaran Tin Project Overview
The total Property comprises 6 claims and 184 units with a total surface area of 4,077 hectares. The Property is located in central New-Brunswick, roughly 15 kilometres west of Doaktown. Government of New Brunswick till samples were taken at roughly 2-kilometer spacing and are underlain by sediments, granites, gneiss and volcanics from the Carboniferous to Ordovician. The Project contains multiple granitic pulses, including the Devonian Burnt Hill granite that hosts the Burnt Hill tungsten-tin deposit. The Project is also in close proximity to the regional Catamaran-Woodstock and Bamford Brook-Hainesville Faults that bound the Miramichi Terrane from the Matapedia Basin to the north and the Fredericton Trough to the south.
Grant of Options
The Company also announces that the Board of Directors approved the grant of incentive stock options to an officer and key employee to purchase up to an aggregate of 400,000 common shares in the capital stock of the Company. Grants are subject to a three-year vesting period and a five-year term at an exercise price of $0.13 per share. The stock options have been granted pursuant to the Company’s Stock Option Plan and are subject to applicable securities laws and TSX Venture Exchange policies.
The scientific and technical information contained in this press release has been reviewed and approved by Mr. Charles Kodors, P. Geo, Manager New Brunswick of Brunswick Exploration.
About Brunswick Exploration
The Company, formerly Komet Resources Inc. is a Montreal-based mineral exploration venture listed on the TSX-V under symbol BRW. The Company is focused on exploration and development of gold and base metal properties in Eastern Canada. Current projects include gold-polymetallic vein systems in Southern New Brunswick (Fundy Gold Project), base metals VMS in the Bathurst Camp in northern New Brunswick, Tin and Tungsten and in the Chibougamau region of Quebec (Waconichi), and the Lac Édouard nickel-copper project in Québec.
Mr. Killian Charles, President (info@BRWexplo.com).
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Cautionary Statement on Forward-Looking Information
This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation based on expectations, estimates and projections as at the date of this news release. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects 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, delays in obtaining or failures to obtain required governmental, environmental or other project approvals; uncertainties relating to the availability and costs of financing needed in the future; changes in equity markets; inflation; fluctuations in commodity prices; delays in the development of projects; the other risks involved in the mineral exploration and development industry; and those risks set out in the Corporation’s public documents filed on SEDAR at www.sedar.com. Although the Corporation 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, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Corporation disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Source: Komet Resources Inc. via GLOBE NEWSWIRE