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Green Bridge Metals Corporation reports developments tied to critical-mineral exploration in Minnesota's Duluth Complex. The company is a Canadian-based exploration issuer focused on acquiring and advancing mineral assets, with its South Contact District property package associated with copper, nickel, cobalt, titanium, vanadium and platinum group element mineralization.
Recurring updates cover work programs at Serpentine, Titac and Skibo, including diamond drilling, historical core re-sampling, geophysics, metallurgical testing of ilmenite-hosted titanium mineralization and NI 43-101 technical disclosure. Company news also includes regional engagement in Minnesota, additions to technical and corporate-development personnel, and clarifications of mineral-project disclosure standards.
Green Bridge Metals has appointed Michael Henrichsen as Technical Advisor to the Board effective immediately. Henrichsen, a seasoned geologist with a distinguished career at Newmont , brings significant expertise in structural geology. He has managed technical programs in Ghana, leading to multiple gold discoveries, and has overseen initiatives to locate high-grade ore in Peru and Nevada. At Auryn Resources, he developed a major project portfolio and secured a $35 million investment from Goldcorp. He also contributed to the acquisition and profitable sale of the Homestake Ridge Project. Currently, as Chief Geological Officer at Torq Resources, he formed a strategic partnership in Chile that led to a $15 million investment from Goldfields. CEO David Suda stated that Henrichsen's expertise will greatly influence Green Bridge's strategic decisions and accelerate growth.
On May 15, 2024, Green Bridge Metals revealed promising prospecting results for its Chrome Puddy Project, indicating significant iron-nickel oxide mineralization and a CO2 sequestration opportunity. Analysis of 52 grab samples showed nickel values up to 0.38% Ni, averaging 0.20% Ni. CEO David Suda highlighted the potential for a bulk tonnage nickel deposit and significant CO2 capture. Historically, a 1964 discovery estimated 30 million tons of nickeliferous magnetite resource. Current efforts aim to expand this with an estimated 80-100 million tons. Further exploration includes airborne surveys and drilling plans for 2024. Samples also revealed an average of 11.7% Fe, 0.015% Co, and 0.25% Cr. An incentive plan has been introduced, granting 11,050,000 stock options and 80,000 RSUs. The CO2 sequestration potential in the area due to serpentinization is under evaluation.
Green Bridge Metals has entered into a definitive agreement with Encampment Minerals Inc. for an option to earn an 80% interest in the South Contact Zone Project in Duluth Complex Minnesota. The agreement includes conditions such as completion of due diligence, regulatory approvals, and a minimum $3 million in financing.
Green Bridge Metals supports the passing of H.R. 3195 by the US House of Representatives, aiming to unlock mineral-rich land in Minnesota's Superior National Forest. The company sees the legislation as a positive step towards enhancing the domestic mineral supply chain.