Anteros Metals Secures Option on Seagull Project for PGM, Nickel, Copper, and Helium
Anteros Metals Inc. (CSE: ANT) has entered into a binding letter of intent to acquire an option on the Seagull Project, located approximately 80 kilometres northeast of Thunder Bay, Ontario. The project targets platinum group elements, nickel, copper, and helium.
The Seagull Project is an exciting prospect for Anteros, with Rift Minerals Inc. having already completed passive seismic imaging that identified a deep low-velocity anomaly. This could indicate a potential gas-bearing zone and/or mineralized feeder structure. Anteros plans to drill test this target as part of its Phase 1 project management program, with estimated costs ranging from $400,000 to $600,000.
To fund these exploration efforts and general working capital, Anteros has announced a non-brokered private placement offering up to $1,000,000. This will be used for Canadian exploration expenses that qualify as flow-through critical mineral mining expenditures. The offering includes the issuance of flow-through units and hard dollar units.
Anteros can earn up to a 49% working interest in the Property by underwriting a Phase 1 drilling program, making a one-time cash payment of $50,000, and completing a Phase 2 exploration program. The option from Anteros Metals Inc. to acquire an interest in the Seagull Project can cost CAD 1,000,000.
The Seagull Project presents an opportunity for Anteros to expand its portfolio of critical minerals projects. The company's headquarters are located at 16 Forest Road, Suite 200, St. John's, NL, Canada A1X 2B9, and it is focused on advancing projects targeting copper, nickel, zinc, and emerging strategic commodities across Newfoundland and Labrador and select Canadian jurisdictions. The private placement will help fund these efforts and support the company's growth.
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