Core Viewpoint - Critical One Energy Inc. has acquired the KCR Gold Project, which includes the Slam Gold Zone discovery, enhancing its land holdings in the Howells Lake Antimony-Gold Project area in Ontario, Canada [1][4]. Acquisition Details - The company acquired 100% interest in the KCR Property, which consists of a 20-claim unit covering approximately 320 hectares, for a total of CDN$6,000 and 50,000 common shares, subject to a 2% Net Smelter Royalty [15]. - The acquisition allows Critical One to control over 25,000 hectares of land, covering all known gold and antimony occurrences in the Howells Lake area [4]. Discovery Highlights - Visible gold mineralization was discovered in a historic drill hole, with assays showing up to 64.1 g/t over one meter [2]. - The Slam Gold Zone averaged 3.54 g/t Au over 20.4 meters, located 100 meters below a gold geochemical target with over 1 km of anomalous results [2]. - The Slam Gold Zone remains untested in all directions, indicating significant exploration potential [2][7]. Historical Context - Gold was first identified on the KCR Property in the 1930s, with notable historic trenching results including 16.42 g/t Au over 3.35 meters in 1974 and 12.82 g/t Au over 4.11 meters in 1980 [2][5]. - The KCR Property has a historical resource estimate of 1.7 million tons at a grade of 1.4% antimony, although this estimate is not compliant with NI 43-101 standards [10]. Strategic Positioning - The acquisition enhances Critical One's strategic position, covering over 30 km of geological trend with strong alteration and underexplored antimony-gold targets [4][7]. - The company is advancing its exploration program, supported by a recent private placement of CDN$3.3 million, to fund near-term exploration activities [11]. Future Plans - Critical One is awaiting results from a recent airborne geophysical survey to assist in target selection and further exploration [9]. - The company plans to conduct follow-up drilling to delineate and expand the antimony-gold resource, including a maiden drill program on the V-3 historical antimony deposit [11].
Critical One Acquires KCR Project – Historic Drill Hole Intersected Visible Gold Assaying 64.1 g/t Gold Within 20.4 Metre Interval Grading 3.54 g/t Gold
Globenewswire·2025-09-04 21:42