Business
Huntsman Completes Financings, Key Acquisitions; Moves Forward with Large Scale Gold and Nickel Projects
VANCOUVER, BC / ACCESSWIRE / December 16, 2020 / Huntsman Exploration Inc. (TSXV:HMAN)(OTC PI...
About this update from Lux Metals Corp
[{"type":"text","content":"Huntsman Completes Financings, Key Acquisitions; Moves Forward with Large Scale Gold and Nickel ProjectsVANCOUVER, BC / ACCESSWIRE / December 16, 2020 / Huntsman Exploration Inc. (TSXV:HMAN)(OTC PINK:BBBMF) (the \"Company\" or \"Huntsman\") is pleased to provide the following corporate update for the fourth quarter of 2020, as well as upcoming exploration activity.Financing: Successfully completed private placements for gross proceeds of $6,019,000.Strategic Gold Project Acquisitions: Successfully acquired two key gold projects - the intermediate stage Baxter Spring project in Nevada, and the Flint project in the re-emerging Flint gold camp in Idaho. Huntsman's technical team is now in the process of planning work programs for both projects. The Flint project acquisition is subject to TSX Venture acceptance.Canegrass High-Grade Nickel Project Advancement: Permitting process has commenced for an 18-hole (3,160 m) drill program at the Canegrass high-grade nickel project in Western Australia. Work is expected to commence shortly after the permit has been received and will follow up the strong success of the prior drill program.Peter Dickie, President and CEO for Huntsman, commented, \"With a strong treasury and a diversified portfolio that includes high quality gold and nickel projects, Huntsman is well positioned for 2021. The Company has been very active at a corporate level with the recent financing and acquisitions, and we are now looking forward to a series of highly targeted exploration programs as we move through the next twelve months.\"Project Highlights and Next StepsBaxter Spring Gold Project, NevadaDrill tested mineralization with 128 historical RC and core holes.Oxide and vein structures (historic results).Numerous untested targets identified.Historically, only shallow drill tested, with potential to find additional mineralization at depth.Baxter Spring is a historically explored property in an area of Nevada that has demonstrated substantial gold endowment. Nearby projects include the historic Manhattan mining camp and the current Round Mountain project. Previous work on Baxter Spring has produced both high grade intervals in drilling (eg. BX-13: 8.81 g/t over 7.6m) in addition to several intervals of moderate grade, over substantial widths (BSC-1: 0.71 g/ Au over 69.04m). Numerous areas of the property have indicated...