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Lux Metals Corp. reports developments tied to its Canadian mineral-exploration issuer activities, governance changes, market-awareness arrangements and capital-structure actions. Formerly Huntsman Exploration Inc., the company completed a name and ticker change to Lux Metals Corp. and LXM on the TSX Venture Exchange, while BBBMF has appeared as its OTC symbol in company releases.
Recurring updates include director and financial-officer appointments, consulting and marketing-service agreements, share consolidation mechanics, and mineral-property option activity. Earlier Huntsman releases also covered project-level matters involving the Canegrass Nickel Project and lithium or pegmatite-related exploration rights.
Huntsman Exploration Inc. (US:BBBMF) announced significant drilling results from its Canegrass Nickel Project in Western Australia. The project has completed 7 drill holes, with promising results from the Tulloch Prospect, including a notable intercept of 26.55m at 1.4% Ni. All holes are now cased for downhole electromagnetic (DHEM) studies, critical for identifying mineralization targets at depth. The company plans to advance to Phase two, focusing on DHEM completion and further drilling of identified anomalies.
Huntsman Exploration Inc. announced progress on its Canegrass Nickel Project in Western Australia. The company completed a 1,500 m RC drilling program with encouraging visual results, pending assays expected soon. Significant drill targets include Bonecrusher and Saintly, which showed promising mineralization. A 3,500 m diamond drilling program also revealed continuous nickel mineralization at depths of 120 m to 270 m. However, the company faces a 9-12 week turnaround time for assay results due to market conditions. CEO Scott Patrizi expressed optimism about upcoming updates.
Huntsman Exploration Inc. has initiated a 5,000m drilling program at its wholly-owned Canegrass Nickel Project in Western Australia, employing both Reverse Circulation and Diamond Drill techniques. The drilling will focus on three key prospects: Tulloch, Sunline, and additional targets such as Tobin Bronze, Bonecrusher, and Saintly. Previous drilling campaigns from 2018-2020 yielded significant nickel mineralization, and the current strategy seeks to expand on these findings. President Scott Patrizi emphasized this as a pivotal opportunity for the company to unlock the project's potential.
Huntsman Exploration Inc. (OTC PINK: BBBMF) has entered an agreement to acquire PieCo Metals Pty Ltd through its subsidiary, Bluebird Battery Metals Australia Pty Ltd. This exclusive option allows Bluebird to acquire all shares of PieCo, which holds projects in the Julimar province of Western Australia, an area noted for significant PGE-Ni-Cu mineralization. Huntsman will pay a non-refundable option fee of AUD $30,000 and issue up to 39 million common shares to the Vendors over three periods. The acquisition is pending due diligence and TSX Venture Exchange approval.
Huntsman Exploration has unveiled its 2022 exploration strategy, focusing on its fully owned Canegrass Nickel project in Western Australia. The project aims to delineate a new nickel province, with a significant 5,000m drill program commencing in February 2022. Previous drilling has shown promising results, including high-grade nickel and copper intersections. Huntsman is leveraging advanced exploration techniques and plans to expand its knowledge, supported by experienced consultants Newexco.
Huntsman Exploration Inc. (OTC PINK: BBBMF) has completed a private placement, issuing 31,027,529 shares at a price of $0.07 per share, generating $2,171,927 in gross proceeds. A total of $114,092.81 was paid in finder's fees. Insiders acquired 882,857 shares, classified as a related party transaction. The funds will support exploration at the Canegrass property, cover acquisition costs for the Baxter Spring property, and provide general working capital. Additionally, the Company surrendered 40% of its tenement tenure due to regulatory requirements but deemed it non-impactful for ongoing operations.
Huntsman Exploration Inc. (OTC PINK: BBBMF) has successfully exercised its option to acquire 100% of the Baxter Spring property in Nevada. Following previous announcements from August and November 2020, the company has confirmed that a payment of US$250,000 originally due on December 1, 2021, has been extended to May 31, 2022. Further details on upcoming exploration programs will be communicated in due course.
Huntsman Exploration Inc. (OTC PINK: BBBMF) announced the appointment of Mathew O'Hara as a new director. O'Hara, a Chartered Accountant, brings extensive experience in capital markets and financial governance, having served in various executive roles within the resources sector. His past roles include directorships at companies such as Benz Mining Corp and Carbine Resources Limited. Scott Patrizi, CEO, expressed confidence in O'Hara's ability to contribute to Huntsman's strategic review and future planning, aimed at maximizing shareholder value.
Huntsman Exploration Inc. (TSXV:HMAN)(OTC PINK:BBBMF) announced the appointment of Scott Patrizi as President and Chief Executive Officer. Mr. Patrizi brings extensive experience in equity capital markets and project acquisition, having previously led successful IPOs and significant acquisitions in the mining sector. He replaces Peter Dickie, who has resigned from his positions. Huntsman focuses on mineral exploration, particularly the Canegrass Nickel Sulphide project in Australia and gold projects in Nevada and Idaho.
Huntsman Exploration has successfully exercised its option to acquire 100% interest in the Canegrass Mineral Exploration Tenement. The company is currently awaiting results from final diamond core drilling and ongoing electromagnetic surveys at the site. Prior drill results indicate promising nickel, copper, and cobalt mineralization, with recent assays confirming favorable host rock and multiple high-grade intersections. Huntsman plans to expand drilling to further define mineralized horizons, enhancing the project's potential.