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21C Metals Closes Transaction to Acquire 43-101 Inferred Palladium Resource
VANCOUVER, British Columbia, Feb. 26, 2019 (GLOBE NEWSWIRE) -- 21C Metals Inc. (formerly Declan Cobalt Inc.) ("21C Metals" or the "Company") (CSE: BULL) (FRA: D
About this update from Quest Critical Metals Inc
[{"type":"text","content":"VANCOUVER, British Columbia, Feb. 26, 2019 (GLOBE NEWSWIRE) -- 21C Metals Inc. (formerly Declan Cobalt Inc.) (\"21C Metals\" or the \"Company\") (CSE: BULL) (FRA: DCR1) (OTCQB: DCNNF) announces that its wholly-owned subsidiary, East Bull Resources Inc. has entered into an option agreement (the “Agreement”) with Pavey Ark Minerals Inc. (\"Pavey Ark\"), to acquire a 100% interest in the East Bull palladium property in the Sudbury Mining Division (Ontario) (the \"Property\"). P&E Mining Consultants Inc. of Brampton, Ontario has prepared a NI 43-101 compliant report on the Property dated April 5, 2018 (the \"43-101 Report\"). The NI 43-101 Report references a pit-constrained inferred resource of 11.1 million tonnes of 1.46 grams per tonne (523,000 ounces) palladium equivalent. The NI 43-101 Report is available for review at www.paveyarkminerals.com, and will be filed on SEDAR within 180 days of this announcement. The Property consists of approximately 1000 hectares covering more than 3.6 kilometres of the East Bull layered intrusion. This area consists of an inclusion bearing zone hosting palladium mineralization. The 43-101 Report recommends an exploration program to extend and define the known mineralization. The Company has not undertaken any independent detailed investigation of the information contained in NI 43-101 Report in order to verify the accuracy of the information. However, the Company believes that following the recommended exploration work program will increase the current resource and help to define the extent of the palladium mineralization. The price of palladium has recently increased such that it now exceeds that of gold. Palladium is the principal element used in internal combustion engine catalytic converters. Deposits are rare, found generally in South Africa, Russia, Montana and the Sudbury Basin in Ontario, where the Property is located. High demand for palladium is expected to continue due to many jurisdictions (including China) implementing more stringent domestic emissions standards. Mr. Wayne Tisdale, CEO of the Company reports: \"We are pleased to have closed this transaction to acquire a palladium resource located within 70 kilometres of Sudbury, Ontario. By pursuing the recommended work program referenced in the 43-101, this resource appears t...