Military Metals Moves to Acquire High-Value Antimony-Gold Property in Nevada

Military Metals Expands its Strategic Mineral Portfolio with Key Acquisition in Nevada’s Mining Heartland

Editorial Team (ET)May 9, 2025

In another promising acquisition, Military Metals Corp. (CSE: MILI) (OTCQB: MILIF) (FSE: QN90), a mineral exploration company based in British Columbia, has announced a Letter of Intent (LOI) with Amador Mining LLC. This LOI signals Military’s intention to acquire the historically significant Last Chance property, also known as the Wall Canyon project. Located in Nye County, Nevada, this property offers immense potential for antimony and gold extraction and aligns with Military’s growing commitment to critical mineral resources.

Location and Historical Importance of the Last Chance Property

The Last Chance property is situated approximately 18 kilometers west of the Round Mountain Gold Mine in Nevada, accessible via a direct route from Highway 376. Its location near the mining town of Tonopah places it in the heart of Nevada’s well-known mining district, offering favorable infrastructure and local resources to support exploration and production.

Originally discovered in the 1870s, the Last Chance property holds a long history of mineral production, especially antimony—a critical mineral with rising demand in industrial applications. The property’s production history is marked by periodic antimony extraction from 1915, continuing through both World Wars, and another production phase in the late 1950s. Over the decades, additional exploration identified notable gold mineralization, drawing interest from the U.S. Geological Survey and Nevada Bureau of Mines in the 1980s. This extensive history of activity underscores the site’s potential for renewed development under Military’s ownership.

Geological Composition and Mineral Potential

The Last Chance property displays a unique geological profile where both antimony and gold are present. Historical drilling and mining data reveal that antimony mineralization occurs within quartz veins that intersect gold-bearing zones, indicating a multi-phase mineralization event. The presence of dikes of serpentinized ultramafics suggests further geological complexity and potential for expanded exploration. This geological backdrop not only attracts interest for its antimony and gold deposits but also points to broader mineral exploration possibilities in the region.

Strategic Importance of Antimony

Antimony’s strategic importance cannot be understated, particularly in today’s market. Used in applications such as flame retardants, semiconductors, and batteries, antimony is a critical mineral that has gained attention due to concerns over global supply constraints. Given that the majority of antimony supply originates from outside North America, Military Metals sees this acquisition as a chance to support a secure, domestic supply chain. By focusing on antimony and gold assets like Last Chance, Military Metals aligns itself with North America’s strategic initiatives for critical mineral independence.

Acquisition Terms and Military’s Exploration Plans

Military Metals’ LOI with Amador Mining outlines a structured pathway for acquisition finalization. The company has placed a $10,000 exclusivity deposit and anticipates formalizing a definitive purchase agreement within 30 days. The acquisition terms include a total compensation of $45,000 for five unpatented mineral claims on the property, along with a 2% Net Smelter Royalty (NSR) agreement with Amador Mining. This approach minimizes up-front costs while securing rights to a property with considerable historical data and mineral value.

Upon finalizing the acquisition, Military intends to initiate a detailed exploration program, starting with surface mapping and sampling. The initial phase will provide comprehensive insights into the mineralization patterns, guiding the subsequent drilling program. This systematic exploration plan will help Military unlock the full potential of the Last Chance property, potentially leading to significant resource estimation and development opportunities.

Regulatory Oversight and Geological Review

The technical aspects of this acquisition were reviewed and approved by Avrom E. Howard, MSc, PGeo, a geological consultant to Military Metals. As a Qualified Person under NI 43-101 standards, Howard’s endorsement adds a layer of credibility to the project, assuring investors and stakeholders of the property’s compliance with Canadian mineral disclosure standards. This compliance reinforces Military Metals’ commitment to transparent and regulated exploration and reporting practices.

Economic and Strategic Impact of the Last Chance Project

Securing the Last Chance property signals Military Metals’ dedication to expanding its portfolio within North America. The project not only holds potential for economic returns from antimony and gold but also positions Military as a valuable player in the critical mineral landscape. As antimony and other strategic minerals gain importance, the project has the potential to benefit both Military and broader industrial applications dependent on stable, domestic mineral supplies.

Nevada’s favorable mining jurisdiction, coupled with the Last Chance property’s unique resource profile, provides a promising outlook for Military Metals. This acquisition may spark additional interest in other mineral assets across the state, bolstering Military’s exploration goals and contributing to Nevada’s mining-driven economy.

Conclusion

The acquisition of the Last Chance antimony-gold property marks a pivotal step for Military Metals in its quest to secure valuable mineral assets. This strategic move not only supports Military’s growth trajectory but also contributes to North America’s critical mineral supply chain. With a comprehensive exploration plan in place, Military is well-positioned to maximize the potential of Last Chance, creating value for shareholders and strengthening its foothold in the mining industry. As exploration proceeds, Military Metals could pave the way for a resurgence of mineral development in Nevada’s historic mining regions, revitalizing an area with deep-rooted ties to America’s mining heritage.

AntimonyGoldMilitary Metals

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