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Essex Minerals Inc. (TSX-V:ESX) told investors that it is “very pleased” with the results so far from its continuing due diligence program on the Lagersdrift vanadium project in South Africa's Limpopo province. The minerals exploration and development said it has collected a total of 62 rock and cut-channel samples.
Essex Minerals Inc said it has developed a rare earth element (REE) target on the western portion of the Drummer fault area of the Mt Turner project in Queensland, Australia. The company said the geological environment is very similar to that observed at Arafura Rare Earth Ltd's large Nolans Bore rare earths-phosphate-uranium-thorium deposit.
Essex Minerals Inc. (TSX-V:ESX) has said it is pursuing its corporate strategy to acquire precious metal royalty and income streams having signed letters of intent (LOI) on projects in South Africa and Peru, and also revealed the appointment of a new president. The company also noted that its Queensland, Australia, gold and precious metals exploration projects are advancing with follow-up exploration planned to be funded by either joint venture expenditure or a spin-out in order to realise non-dilutive value for shareholders on the company's investment to date.
Essex Minerals Inc has announced that, further to its news release of September 21, 2022, it has closed the final tranche of its non-brokered private placement, raising an aggregate of $880,000 in gross proceeds. The company said it issued 44,000,000 units under the private placement at a price of $0.02 per unit.
Essex Minerals Inc. (TSX-V:ESX) said it has closed a second tranche of its non-brokered private placement for $75,000, bringing the total raised so far to $819,500 in gross proceeds, issuing 40,975,000 units at a price of $0.02 per unit. The net proceeds from the financing will be used by Essex for general working capital purposes, its mineral project and royalty-generative activities and exploration expenditures on its existing mineral projects.
Essex Minerals Inc. (TSX-V:ESX) announced that it has completed the first tranche of its non-brokered private placement, raising C$744,500 in gross proceeds by issuing 37,225,000 company units at a price of C$0.02 per unit. The project generator said net proceeds from the financing will be used for general working capital purposes, the company's mineral project and royalty generative activities, and exploration expenditures on its existing mineral projects.
Essex Minerals Inc has said it is arranging a non-brokered private placement of 44 million units of the company at a price of two cents per unit to raise gross proceeds of $880,000. The company said it will use approximately 80% of the net proceeds from the proposed offering for general working capital purposes, its mineral project and mineral royalty generative activities and exploration expenditures on its existing mineral projects; approximately 15% will be used to pay management fees to company officers and approximately 5% on investor relations activities.
Essex Minerals Inc. (TSX-V:ESX) revealed that Meryllion Resources Corporation has formally advised the company that it intends to exercise its option to earn up to a 70% interest in the Mt Turner Copper-Molybdenum-Gold project, in north Queensland, Australia by funding up to a further $3.8 million in exploration in three stages. On April 26, 2022, Meryllion struck a 90-day option agreement with Essex to fund a minimum $250,000 on exploration at Mt Turner, including a detailed IP survey, to define drill targets within the porphyry system.
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