Business
Auxico Resources to Acquire 85% of Minera El Benton S.R.L. In Bolivia
MONTREAL, Sept. 12, 2023 /CNW/ - Auxico Resources Canada Inc. (CSE: AUAG) (OTCQB: AUXIF) ("Auxico" or the "Company") is pleased to announce that it has executed
About this update from Auxico Resources Canada, Inc.
[{"type":"text","content":" MONTREAL, Sept. 12, 2023 /CNW/ - Auxico Resources Canada Inc. (CSE: AUAG) (OTCQB: AUXIF) (\"Auxico\" or the \"Company\") is pleased to announce that it has executed a Memorandum of Understanding (MOU) to acquire 85% equity interest in Empresa Minera El Benton S.R.L., a Company that holds the mining title and rights to the El Benton Mine and adjacent Monte Verde concessions. The El Benton Mine and Monte Verde properties, combined, represent approximately 739 hectares located in the Province of Ñuflo de Chavez, Department of Santa Cruz in Eastern Bolivia, 200 kilometres from the city of Santa Cruz. The El Benton Mine is a past-producing operation with all the necessary licenses, which previously exported tantalum and niobium concentrates (refer to Table 1): Sample MMV01, taken from exported commercial concentrates, yielded grades of 48.97% niobium and 22.25% tantalum. A cumulative 'chip sampling' campaign of 23 samples was executed over a strike length of 1 kilometre, with a grade up to 1.31% lithium from a selected lepidolite bearing sample. Sample MMM01 underwent a series of metallurgical tests including magnetic and optical separation techniques which resulted in four different concentrates, and confirmed results of total rare earth oxide content (TREO) in excess of 54%, including neodymium grade of 10.77%, gadolinium grade of 4.68% and dysprosium grade of 0.49%. Throughout the optical separation process, the total rare earth oxide content from sample MMM01 was increased from 17.58% TREO to 54.42% TREO. The niobium content from sample MMM01 was increased from 18.68% to a grade of 43.69%, and tantalum content was increased from 8.01% to a grade of 19.21%. Auxico's objective is to relaunch the mine for the production of commercial niobium and tantalum concentrates, to define the lithium potential of the property, and to undertake optimal sorting in order to create concentrates of elements required for the energetic transition. Sample MMV01 was taken from concentrates exported to Germany in 2013 by Minera Monteverde, previous right holder to El Benton Mine, and results indicated a strong correlation with Sample MMM01, taken from the El Benton property in 2021. Auxico's licensed ultrasound technology, the Ultrasound Assisted Extraction (\"UAEx\"), is a patent-pending approach of pH-sweep (research conducted in collaboration w...