{"id":10643,"date":"2024-12-06T11:38:19","date_gmt":"2024-12-06T11:38:19","guid":{"rendered":"https:\/\/digitaltradecenter.com\/index.php\/2024\/12\/06\/madison-metals-secures-rights-to-ontario-antimony-gold-project\/"},"modified":"2024-12-06T11:38:19","modified_gmt":"2024-12-06T11:38:19","slug":"madison-metals-secures-rights-to-ontario-antimony-gold-project","status":"publish","type":"post","link":"https:\/\/digitaltradecenter.com\/index.php\/2024\/12\/06\/madison-metals-secures-rights-to-ontario-antimony-gold-project\/","title":{"rendered":"Madison Metals Secures Rights to Ontario Antimony-Gold Project"},"content":{"rendered":"<\/p>\n

Madison Metals (CSE:GREN,OTCQB:MMTLF) has entered into binding letters of intent to acquire the Howells Lake antimony-gold project, a 13,990 hectare property in Ontario’s Thunder Bay area. <\/strong><\/p>\n

A historic resource estimate suggests that the site contains approximately 1.7 million metric tons at 1.7 percent antimony, representing around 51 million pounds of contained antimony.<\/p>\n

Chairman and CEO Duane Parnham underscored the project’s strategic importance in a company release.<\/p>\n

\u201cThe Howells Lake Project has enormous potential to have real economic significance, and Madison is seizing this rare opportunity to discover new areas of antimony-gold mineralization as well as define the known areas of antimony and gold mineralization on this very large, underexplored land position,\u201d he said on Monday (December 2). <\/p>\n<\/p>\n

Parnham also spoke about antimony’s strong supply\/demand fundamentals, saying it has tripled in price this year largely due to China’s export restrictions. The metal is currently trading above US$16 per pound. <\/p>\n

Antimony is considered critical in various industries, including defense, electronics and renewable energy technologies.<\/p>\n

Howells Lake has a diverse geological profile, with antimony and gold mineralization identified from surface levels to depths of 150 meters. It is located in what Madison is calling a ‘Hemlo Gold Camp setting.’<\/p>\n

Exploration activity in the region peaked during the 1970s and 1980s, with over US$2 million invested in drilling and geophysical surveys. Mineralization remains open for expansion both laterally and at depth.<\/p>\n

Madison has made acquisition agreements with three separate vendors for Howells Lake. The company intends to commence exploration activities aimed at delineating resources and expanding known mineralized zones.<\/p>\n

No significant work has occurred on the property for over four decades, leaving much of its potential untapped.<\/p>\n

Madison has brought on Bruce Durham as a technical advisor and lead manager for Howells Lake. Durham, a veteran in mineral exploration, will guide the company’s efforts to advance the site.<\/p>\n

Antimony’s role as a critical mineral has grown in recent years. It is vital for applications ranging from fire retardants and semiconductors to defense technologies. It also plays a role in the production of solar panels and high-tech screens. <\/p>\n

Despite its importance, global supply faces challenges. China, which accounted for nearly half of global antimony production in 2023, implemented export restrictions earlier this year.<\/p>\n

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.<\/strong><\/p>\n<\/p>\n

This post appeared first on investingnews.com<\/div>\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Madison Metals (CSE:GREN,OTCQB:MMTLF) has entered into binding letters of intent to acquire the Howells Lake antimony-gold project, a 13,990 hectare property in Ontario’s Thunder Bay area. A historic resource estimate suggests that the site contains approximately 1.7 million metric tons at 1.7 percent antimony, representing around 51 million pounds of contained antimony. Chairman and CEO <\/p>\n","protected":false},"author":1,"featured_media":10644,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[25],"tags":[],"class_list":{"0":"post-10643","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-investing"},"_links":{"self":[{"href":"https:\/\/digitaltradecenter.com\/index.php\/wp-json\/wp\/v2\/posts\/10643","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/digitaltradecenter.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/digitaltradecenter.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/digitaltradecenter.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/digitaltradecenter.com\/index.php\/wp-json\/wp\/v2\/comments?post=10643"}],"version-history":[{"count":0,"href":"https:\/\/digitaltradecenter.com\/index.php\/wp-json\/wp\/v2\/posts\/10643\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/digitaltradecenter.com\/index.php\/wp-json\/wp\/v2\/media\/10644"}],"wp:attachment":[{"href":"https:\/\/digitaltradecenter.com\/index.php\/wp-json\/wp\/v2\/media?parent=10643"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/digitaltradecenter.com\/index.php\/wp-json\/wp\/v2\/categories?post=10643"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/digitaltradecenter.com\/index.php\/wp-json\/wp\/v2\/tags?post=10643"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}