(TheNewswire)
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Vancouver, British Columbia – TheNewswire - December 10, 2024 – Bolt Metals Corp. (“Bolt” or the “Company”) (CSE: BOLT) (OTCQB: PCRCF) (FSE: A3D8AK), a North American mineral acquisition and exploration company, provides an update on China's recent announcement banning exports of gallium, germanium, and antimony to the United States. This strategic move, paired with September 2024 export restrictions, has exacerbated global concerns over supply chain stability for these indispensable materials.
China is the world’s leading producer of antimony, accounting for 48 percent of global production and 63 percent of U.S. antimony imports. The United States has no domestic antimony production and severely limited stockpiles. Since antimony export restrictions were imposed in September 2024, antimony shipments from China dropped 97 percent while prices rose 200 percent 3.
Antimony, a mineral vital for defense systems, renewable energy storage, and high-tech manufacturing has become the latest flashpoint in the resource security landscape. Industry experts warn that this trend could severely impact U.S. national defense readiness and the development of advanced technologies unless alternative sources are secured.
"As geopolitical dynamics shift, securing stable and ethical supplies of critical materials is paramount," said Branden Haynes, CEO of Bolt Metals Corp. "China's policy underscores the West's over-reliance on single-source suppliers and the urgent need for long-term solutions."
Bolt Metals Corp. is uniquely positioned to address these challenges with several prospective projects focused on critical minerals, including the promising New Britain Antimony Property in British Columbia.
New Britain Property
The New Britain Property comprises 2,035 hectares located approximately 40kms north, north-west of Kaslo, BC and is accessible by highway and forest service roads.
Development at New Britain in the early 1980s included extending a short adit excavated to evaluate a quartz vein within a 20-metre-wide shear zone that strikes north and dips subparallel to bedding. The rocks within the shear are altered to sericite schist. High silver, lead and antimony values occur with massive sulphides on the apex of drag-folds within the shear. Mineralization consists of galena and tetrahedrite within quartz-calcite veins. A chip sample across 0.6 metre of vein material assayed 2358 grams per tonne silver, 29.9% lead, 10.4% antimony and 9.7 grams per tonne gold 1.
There are multiple antimony occurrences in the area, including the North Star prospect in Goat Range Park, and the West Ridge prospect at Eagle Plains Snowstorm property. Geological mapping and interpretation at Snowstorm, indicates a southeast-northwest tend in geology and structure, trending onto the New Britain property. The West Ridge prospect, located 4.7 kms to the northwest was developed in the late 1920’s, with a shallow shaft and a 150-metre adit. Assessment reports indicate mineralization of massive stibnite-galena in quartz veining assaying up to 16.1% antimony, 1.58% copper, 41.1% lead, and 1,539 g/t silver over a width of at least 1 metre 2.
Qualified Person
Mr. Garry Clark, P. Geo., a member of the Company's Board of Directors, a "Qualified Person" under NI 43-101, has reviewed the technical contents of this news release and has approved the disclosure of the technical information contained herein.
About Bolt Metals Corp.
Bolt Metals Corp. is a North American mineral acquisition and exploration company focused on the development of quality precious and base metal properties that are drill-ready with high-upside and expansion potential. Based in Vancouver, BC, Bolt’s portfolio of strategic properties provides target-rich diversification and also include Soap Gulch, a copper SEDEX project in Montana, and Switchback, a copper-silver project located in British Columbia. Bolt trades on the CSE Exchange under the symbol BOLT, the OTCQB Exchange under the symbol PCRFC and in Germany under the WKN A3D8AK.
1 (BC Geological Survey - Assessment Report 8532; Donald W. Tully, P.Eng. for Paymaster Mines Inc.; September 15, 1980).
2 (BC Geological Survey - Assessment Report 16433; C. Geoffrey Spearing, B.SC. (Eng) and John Ostler, M.Sc., P.Geol. for Ambergate Explorations Inc.; October 15, 1987);
2 (BC Geological Survey – Assessment Report 18136; C. Geoffrey Spearing, B.SC. (Eng) and John Ostler, M.Sc., P.Geol. for Ambergate Explorations Inc.; November 1, 1988.
3 China Imposes Its Most Stringent Critical Minerals Export Restrictions Yet Amidst Escalating U.S.-China Tech War. Centre for Strategic and International Studies. December 4, 2024.
Bolt Metals Corp.
Branden Haynes – Director and CEO
(604) 817-1595
Reader Advisory
This news release may contain statements which constitute “forward‐looking information”. The words “may”, “potential”, “should”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect”, and similar expressions, are intended to identify such forward‐looking statements. Such statements include, without limitation, statements regarding Bolt Metals’ unique position to address challenges. Investors are cautioned that any such forward‐looking statements are not guarantees of future business activities and involve risks and uncertainties, and that the Company’s future business activities may differ materially from those in the forward‐looking statements. There can be no assurances that such information will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. The Company does not assume any obligation to update any forward-looking information except as required under the applicable securities laws.
The Canadian Securities Exchange has not approved or disapproved this news release.
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