Hertz Energy (HZ.CN) said Friday it "significantly" expanded its land holdings surrounding the past producing Lake George Antimony Mine in New Brunswick. The company is also initiating an exploration program on its claims package.
The company, which currently holds three mineral claims, totaling 2,036 hectares which surround the Lake George antimony mine on three sides, has entered into a 90-day exclusivity agreement with a third-party vendor to acquire an additional two mineral claims covering an area of 2,356.2 hectares, and contiguous with its existing claim blocks.
The expansion gives Hertz Energy exposure to the same structural controls and host rocks that supported North America's largest primary antimony producer until 1996, a statement said.
Hertz Energy has initiated exploration permitting at Lake George antimony project and sent out landowner notifications and initiated exploration permitting and contractor selection.
Hertz Energy shares were last seen up $0.02 to $0.40 on the Canadian Securities Exchange.
Price: $0.40, Change: $+0.02, Percent Change: +5.26%