Vancouver, BC - TheNewswire - April 4, 2023 - Molten Metals Corp. (the “Company”) (CSE:MOLT) (FSE:Y44) (ISIN:CA60872A1066) is pleased to announce the results from the work undertaken by Resourceful Geoscience Solutions, to model & digitize historical diamond drilling and mine workings at Molten’s West Gore antimony project as stated on December 12, 2022.

 

Digitization of mine

 

Historical mine workings in the Main Zone and Berggren Shaft were digitized into triangulated solids by georeferencing historical long sections against locations of mine shafts recorded in Nova Scotia government databases. Main Zone and Berggren Shaft workings are depicted below.

 

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Figure 1. Vertical long sectional view of digitized mine workings. West Gore Main Zone and Berggren shaft. Looking 021 degrees.

 

Historical drilling information

 

Since production ceased in 1917 six exploration drilling programs have taken place.

 

Year	Operator	Drill holes
1958	Canadian Alumina Corp.	5
1964	Talisman Mines	6
1974	NS Dept. of Natural Resources	16
1985	Durham Resources	19
1987	Durham Resources	6
2013	Great Atlantic Resources	2

 

Drillhole collar information for the 1964 Talisman Holes was recovered without the logs and geochemical analyses. Additionally, drilling by the Nova Scotia Department of Natural Resources was done for informational purposes and no geochemical samples were taken.

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Figure 2. Map of historical mining infrastructure and Diamond Drilling location at West Gore. Coloured Base map shows ownership distribution of mineral exploration licenses.

  

Of the programs outlined above, the 1985 drilling by Durham resources was the most meaningful. That program of drilling saw the company achieve a number of significant results outlined below. The intervals reported are composite grades calculated from original Durham resources drill logs and analytical certificates as filed for assessment work with the Nova Scotia department of Energy and Mines in 1986 and 1987, reports “ar_me_1986_012” and “ar_me_1987-050”. Reported significant composites are defined as those meeting  0.1% Sb over a minimum drilled length of one metre with no more than 3 metres of consecutive material below 0.1% Sb.

  

Hole ID	From (m)	To (m)	Drilled Length (m)	% Sb	g/t Au
South of Berggren Shaft
8503	65.84	69.49	3.65	3.2	0.83
8505	81.69	92.05	10.36	0.96	0.2
South of Berggren Brook Shaft
8512	72.54	73.79	1.25	11.6	0.98
8516	65.53	68.12	2.59	1.7	4.2
8516	71.45	74.37	2.92	1.06	0.96
8701	96.56	103.63	7.07	3.4	10.6
8702	135.79	137.92	2.13	1.5	1.96
8703	143.56	147.52	3.96	0.3	0.23
8704	16.37	17.37	1	0.13	0.09
8705	137.33	139.54	2.32	0.87	2.8

 

Durham Resources exploration program focused on exploring south along the strike of the main zone with five holes spaced at intervals of 100 metres. These holes intersected the mineralized structure at a consistent shallow elevation. Durham Resources also explored the 200 metre strike length immediately South of the Berggren Brook shaft, drilling up to 100 metres vertically below surface with intercepts spaced approximately 25 metres apart.

 

Digitization and review of historical drill logs has allowed for the development of an exploration model of the historically exploited mineralized veins. Current interpretations suggest  that historical drilling of the Brook Vein was completed in a down dip orientation. These interpretations and modern exploration tools may afford Molten Metals an opportunity to explore the targets more effectively than past operators.

  

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Figure 3. Representative cross section of Durham Resources drilling through the Brook Vein. The figure illustrates the down dip  orientation of the Durham diamond drilling.

   

Hole_ID	UTM Nad 83 Zone 20			Length (m)	Dip	Azimuth (True)
	Easting	Nothing	Elevation
8701	437495	4992171	130	154.8	63	0
8702	437532	4992130	133	152.9	50	0
8703	437574	4992132	132	156	58	0
8704	437617	4992116	134	186.8	54	0
8705	437671	4992097	134	171.4	63	0
8706	437725	4992081	134	185.2	49	0
8510	438381	4992250	150	152.4	45	0
8511	437086	4993050	67	106.7	45	0
8512	437487	4992154	132	100.6	45	0
8513	437424	4992182	131	100.6	45	0
8514	437111	4992753	93	100.6	45	0
8515	437515	4992110	135	137.2	45	0
8516	437547	4992134	132	99.06	45	0
8517	437576	4992089	136	128.02	45	0
8518	437607	4992107	134	94.5	45	0
8519	437517	4992151	131	94.5	45	0
8501	437878	4992394	136	152.4	45	20
8503	437975	4992382	140	100.6	45	20
8504	437878	4992639	123	100.6	45	20
8502	437781	4992667	115	97.54	45	20
8505	438073	4992350	143	100.6	45	20
8506	437878	4992639	123	137.2	69	20
8507	438171	4992324	146	135	45	20
8508	437928	4992619	126	99.1	45	0
8509	438274	4992311	148	100.6	45	20

 

Historical stockpiles & tailings

 

Historical accounts detail that mining at West Gore was suspended during the first world war when a ship  load of Antimony Ore enroute to Wales for processing was torpedoed and sunk. The loss of this revenue bankrupted the mining company and operations were suspended, with suspected run-of-mine (ROM) material being left at surface awaiting processing.  Historical analytical evaluations of surface stockpiles, tailings and dumps are favorable but unverified. As such, Molten Metals is preparing work plans to characterize the tonnage, grade and processability of historical stockpiles, rock dumps, and tailings in the 2023 season.

  

2022 Grab Sampling

 

On Saturday December 10, 2022, a RGS field team visited West Gore and collected 16 grab samples from piles of rocky spoils in the vicinity of the Berggren shaft, south of the West Gore Main Zone for the purpose of characterizing the historically exploited mineralization. A total of 15 samples contained visible stibnite mineralization and one sample consisted of intensely sericite altered country rock. Although these samples are limited, due to unknown source locations and are not considered to be representative, the results do have some important insights discussed in detail below.

  

Sample Number	Sb %	Au g/t	As %	Pb %	Ag g/t
247202	10.70	2.71	0.241	0.21	0.31
247214	7.14	11.85	0.236	2.76	18.20
247212	5.65	2.60	0.378	0.18	0.44
247213	4.47	13.70	0.314	3.34	16.75
247215	3.92	13.10	0.575	0.79	5.14
247211	2.57	2.83	0.394	0.23	0.38
247203	2.23	2.92	0.475	0.10	0.20
247216	1.63	7.37	0.260	0.07	0.61
247210	1.33	1.70	0.269	0.57	1.44
247204	0.64	1.59	0.223	0.11	0.19
247208	0.51	0.51	0.087	0.90	2.23
247209	0.39	0.90	0.140	0.58	0.83
247205	0.02	0.36	0.049	0.00	0.02
247207	0.02	0.14	0.028	0.01	0.01
247206	0.01	0.48	0.087	0.00	0.05
247201	0.01	0.01	0.003	0.00	0.02

 

Regardless of these samples' limited statistical validity, they signal anomalous abundances of silver (Ag) present and potentially significant abundances of lead (Pb). The  strong positive correlation between Ag and Pb indicates that the source of lead is likely Galena (PbS) which is not typically discussed in historical characterizations of the mineral assemblage.

 

 

Arsenic occurs in relatively small abundances. Average arsenic concentration in all samples above 1% antimony being 0.35%. However, there is no significant strength in the correlation between antimony and arsenic, indicating that Stibnite and Arsenopyrite occur relatively independently. Gold and arsenic are strongly correlated indicating that Arsenopyrite is the source of gold. Bearing in mind that this is a small population of samples, it does appear that the Au/As correlation breaks down at grades above 5g/t Au  indicating that gold may occur freely at higher grades.

 

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There is no significant correlation noted between gold and antimony determinable from the available data  and a larger population of samples would be required to robustly evaluate this relationship.

  

Sample Number	Sample Type	UTM Nad 83 Zone 20
		Easting	Northing
247201	grab sample	437887.7	4992449
247202	grab sample	437969.8	4992427
247203	grab sample	437968.7	4992434
247203	grab sample	437967	4992427
247205	grab sample	437986.1	4992429
247206	grab sample	437989.4	4992419
247207	grab sample	437980.9	4992426
247208	grab sample	437978.8	4992428
247209	grab sample	437979.2	4992426
247210	grab sample	437978.5	4992426
247211	grab sample	437969.2	4992427
247212	grab sample	437969.5	4992428
247213	grab sample	437891.5	4992450
247214	grab sample	437886.8	4992447
247215	grab sample	437886.6	4992449
247216	grab sample	437887	4992448

   

Management comments on the findings

 

Molten Metals President and CEO Lara Smith commented: “These are very encouraging preliminary results. It validates our thesis of acquiring West Gore & its exploration potential given the high-grade intercepts & low arsenic, but also the possibility of creating early cash flow by processing the historic stockpile material, which may occur  prior to any drilling & mining permits. Given current Canadian reclamation laws, Molten Metals is investigating the financial support available from the local government to remove these stockpiled materials and enhance the environmental condition of the West Gore site.  

 

We’re currently exploring the best options to move forward, as we first need to verify the contents of the dumps by trenching them & doing aerial LIDAR scans to estimate the tonnage. Molten Metals’ board of experienced mining and processing professionals will use this data to determine the most economical way to extract value from the mineralized rock and tailings; either by shipping it directly, processing it ourselves or sending it to a nearby third party processing plant.

 

The company is still planning the financial viability and exploration benefits of undertaking a 2,000 metre exploration program as suggested by our geology team, as a modern diamond drilling exploration program has never been undertaken at West Gore.”

  

About Molten Metals Corp

 

Molten Metals Corp. is a mining company exploring for and developing antimony projects. Antimony is a critical element with many industrial applications. For further information, please refer to the Company's disclosure record on SEDAR (www.sedar.com) or contact the Company by email at brooklyn@moltenmetalscorp.com or by telephone at 778.918.2261.

 

Qualified Person

 

The Company’s disclosure of technical or scientific information in this press release has been reviewed and approved by David Murray P.Geo, Consultant Geologist to the Company.  Mr. Murray is a Qualified Person as defined under the terms of National Instrument 43-101.

  

For Additional Information Please Contact

 

Brooklyn Reed

Corporate Secretary

Molten Metals Corp.

778.918.2261

Email: brooklyn@moltenmetalscorp.com

   

Forward-Looking Information

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

This release includes certain statements that may be deemed "forward-looking statements".  Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "would", "may", "could" or "should" occur.  Although Molten Metals believes that the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not a guarantee of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, weather, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.