Hertz Energy Inc. has announced that it has acquired a comprehensive digital geological and technical database related to the historic Lake George Antimony Mine, located in south-central New Brunswick.
The Lake George Antimony Mine in New Brunswick, Canada, was North America’s largest primary antimony producer, operating from the 1870s until its closure in 1996 due to poor market conditions (Government of New Brunswick, Mineral Commodity Profile No. 12, 2018).
The Lake George Antimony Mine is currently under care and maintenance and owned by the Province of New Brunswick and is expected to be put up for tender in the coming months. The Company’s Lake George Antimony-Tungsten-Gold Project is a strategically positioned claims package that surrounds the past-producing Lake George Antimony Mine, and Hertz Energy has secured institutional support as a back stop and plans to submit an aggressive bid to acquire the Lake George Antimony Mine from the Province of New Brunswick in order to restart the mine.
The Database consolidates decades of historical exploration, mining and technical work completed at the mine and provides Hertz Energy with a modern, integrated foundation to support future technical evaluation and exploration planning.
The Database includes a fully integrated three-dimensional (3D) geological and mine model generated from digitised historical surface and underground level plans for the historical Lake George Antimony Mine. The model incorporates 452 historical surface and underground drill holes, including underground development around the historical Lawrence and Adams mine shafts, which are peripheral to the main Durham and Proust shafts.
Also included is the complete historical drill hole database used to support a 2014 historical mineral resource estimate for Lake George, comprising 2,467 assay intervals totaling 1,768 metres of sampled core from 452 historical diamond drill holes, representing a cumulative drilled length of 85,217 metres, along with compiled assay data from underground drilling.
The Database further contains all supporting files from the 2014 historical estimate, including geological and grade interpolation parameters, variography, statistical analyses, mineralised wireframes and polygons, volumetric calculations (with and without mining pillars), and grade estimation and validation files.
In addition, Hertz Energy has acquired a recommended diamond drilling program designed to test the down-plunge extent of the principal mineralised zones, providing a framework for future exploration and drilling activities.
The Database includes historical geological reports, maps, and scientific publications related to the Lake George antimony and tungsten deposit, including all relevant historical work reports submitted to the New Brunswick Department of Natural Resources and Energy Development (DNRED) by previous operators.
With Hertz controlling the Lake George Antimony-Tungsten-Gold Project, a large, contiguous land package along favorable geological trends that surround one of Canada’s leading past-producing critical mineral assets, the Company’s Tungmony Project’s scale and location provide optionality beyond the historic Lake George Mine and supports a long-term growth story rather than a single-asset thesis.
Kal Malhi, CEO of Hertz Energy stated, “The acquisition of this comprehensive database is expected to significantly enhance Hertz Energy tender bid and reduce the time and cost required for Hertz Energy to evaluate the Project by consolidating historical data into a validated digital format that can be readily interrogated and updated. We plan to integrate the database into our internal geological and 3D modeling platform, and to utilise AI data compilation to refine geological interpretations, prioritise exploration targets, and design future drilling programs.
“Antimony and tungsten are designated as a critical minerals in Canada due to their importance in strategic, energy, and industrial applications, and historically the Lake George mine has produced some of the highest-grade antimony in North America.”
Hertz Energy intends to complete a thorough review and verification of the acquired database, including validation of historical drill hole, assay, and geological information by a Qualified Person(s), prior to using the Database to support future exploration, drilling, and technical studies at Lake George. Concurrently, Hertz Energy will be executing an aggressive exploration program on its 100%-owned Lake George mineral claims that surround the Lake George Antimony Mine with a goal to outline a mineral resource for future feed to a re-activated Lake George Mine. Hertz Energy has secured financial support for a tender bid to be made to the Province of New Brunswick to acquire the historical Lake George Antimony Mine in 2026 when it is put up for tender.
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