July 17, 2019 (Source) – 21C Metals Inc. (CSE: BULL) (FSE: DCR1) (OTCQB: DCNNF) (“21C Metals” or the “Company”) is pleased to announce the acquisition of a significant palladium project in Ontario. The Agnew Lake property was acquired after discussions with the Company’s advisors and review of the Ontario Government geological data base. The Agnew Lake property is located 80 kilometres west of Sudbury, Ontario home of Glencore and Vale’s Canadian Nickel-Copper-Platinum Group Elements mining and smelting operations.
The Agnew Lake property is comprised of over 260 claims (~6000 Ha) and is part of the larger East Bull Lake-Agnew Lake mafic-ultramafic complex. The Company believes this acquisition will position it to be one of the larger non-producing palladium explorers in North America.
The Agnew Lake magmas have major element compositions that are very similar to the model parent liquids proposed for the mafic portions of the Stillwater and Bushveld Complexes. The Agnew Intrusion and the East Bull Lake Intrusion are also considered to host signiﬁcant PGE-Cu-Ni mineralization in marginal rock units (Peck & James, 1990; Peck et al.,1993a, 1993b, 1995; Vogel et al., 1997).
The Company continues exploration methods on the East Bull property and surface grab sample results from geological structural mapping should be available in three weeks. (Grab samples are selective in composition and may not be representative of the total mineralized body). Continuation of exploration will include evaluation of the Agnew Lake property. Detailed compilation of public data on the Agnew Lake property has commenced and a search for privately held data has started.
Mr. Garry Clark, P. Geo., of Clark Exploration Consulting, is the “Qualified Person” as defined in NI 43-101, who has reviewed and approved the technical content in this press release.
Investors are cautioned that the estimates do not mean or imply that economic deposits exist on the Property. Other than as provided for in this press release, the Company has not undertaken any independent investigation of the estimates or other information contained in this press release nor has it independently analyzed the results of the previous exploration work in order to verify the accuracy of the information. The Company believes that the information contained in this press release are relevant to continuing exploration on the Property because they identify significant mineralization that will be the target of the Company’s exploration program.