21C Metals latest acquisition will position it to be one of the larger non-producing palladium explorers in North America
By targeting metals and materials for the 21st Century, 21C Metals Inc. (CSE: BULL | OTCQB: DCNNF) has identified a clear opportunity to benefit from the demand for both cobalt in batteries and palladium used in vehicle catalytic converters. Naturally, as the demand for catalytic converters decreases, the demand for EV batteries will increase. It is also worth taking note, hybrid vehicle growth could be a win-win scenario as this would increase demand for both cobalt and palladium. Analysts agree that the key driver for both cobalt and palladium growth will be in the electric/hybrid vehicle market and the tightening of global emissions regulations. A near term catalyst is tightening of European emission standards which for passenger cars is 95 g/km of CO2, phasing in for 95% of vehicles in 2020 with 100% compliance in 2021, and getting tougher post 2025.
East Bull Palladium Property
21C Metal’s East Bull Palladium Project is located in Gerow Township, Ontario, and covers 992 hectares with a historical 43-101 compliant Resource estimate of 11.1 million tonnes of ore at a grade of 1.46 g/t PdEq for a total of 523,000 ounces of palladium. Less well known is that the resource also has low grade gold, nickel and cobalt which serve as valuable by-products. Exploration potential is significant as only half the mineralized strike length has been drilled so far, and the resource is open at depth. 21C metals state there is a “potential target of 4x current resource to 240 meter depth for 2 million oz”. The latest assay results from grab samples were positive for palladium and ca be viewed here. Twelve samples had values of >2000 ppb (2.0 grams per ton) platinum + palladium + gold.
Get our daily investorintel update
21C Metals acquires the Agnew Lake Property near the Bull Palladium Project
After discussions with the Company’s advisers to further expand the scale of the Bull Palladium Project, 21C has now acquired the Agnew Lake Property. Located 80 kilometers west of Sudbury, Ontario, the property is comprised of over 260 claims and is part of the larger East Bull Lake-Agnew Lake complex. With an age similar to 21C’s principal target, East Bull, the Company sees Agnew Lake as exceedingly important. 6,000 hectares of the Agnew Lake intrusion has been staked with 70 grab samples, used to verify palladium mineralization, and are currently in the lab. The Company also believes this acquisition will position it to be one of the larger non-producing palladium explorers in North America.
Tisova Copper-Cobalt Project
The Company’s Tisova Copper-Cobalt Project is located on the Czech/German border in an area with a long mining history and excellent records including 26,000 meters of diamond drilling and 14,000 meters of underground drilling. The current thinking is there could be as much as a 30km prospective belt of VMS deposits. 21C has recently commenced exploration on the German side of the project with the aim to assess the copper/cobalt potential.
Previously completed soil sampling has defined a cobalt anomaly footprint of approximately 300 x 300 meters. This anomaly is greater than 25 ppm cobalt. There had been no explanation or follow up groundwork. Other stream sediment samples in the area have indicated copper and cobalt anomalies.
Wayne Tisdale, President and CEO of 21C Metals commented: “The 21C team has worked long and hard to advance both our palladium and copper/cobalt projects. This is the beginning of some very significant progress made by 21C regarding the delineation of our prospective targets.”
President and CEO Mr. Tisdale has 40 years of experience in investing, financing and consulting to private and public companies in the areas of mining, oil and gas, and agriculture. He sits on the board of a number of private and public companies as well as running his own merchant bank. Mr. Tisdale has raised over $2 billion of both equity and debt financing and has been instrumental in founding several highly successful companies. Most recently Mr. Tisdale was integral to creating a post-transaction cobalt company valued at almost $400 million.
- East Bull Property – Channel sampling to direct 21C Metals to potential starter pit locations.
- Agnew Lake Property – Assay results from recent 58 grab samples.
- At the Tisova Copper-Cobalt Project – Beak Consultants geological comprehensive data compilation and field study results.
21C Metals’ strategy of targeting two key 21st century metals (cobalt & palladium) should prove to be a sound play. Given the safe location of their palladium resource and potential from their Czech copper-cobalt project, significant exploration upside at both projects, the future looks bright for 21C Metals.
Matthew Bohlsen is a Senior Editor for InvestorIntel.com. With a Graduate Diploma in Applied Finance and Investment, and a Graduate Diploma in Financial Planning. He ... <Read more about Matthew Bohlsen>