Seventy Ninth Resources Expands Gold Exploration with Canadian Concession Acquisitions
TL;DR
Seventy Ninth Resources' purchase of two gold concessions from First Class Metals PLC gives them a strategic advantage in acquiring valuable natural resource assets.
The acquisition includes the McKellar and Enable concessions, located in Marathon and Terrace Bay, Ontario, providing valuable data-verified exploration projects for Seventy Ninth Resources.
Seventy Ninth Resources' focus on ESG initiatives and community partnerships demonstrates a commitment to responsible mining practices, making the world a better place.
The acquisition aligns with Seventy Ninth Resources' long-term strategy to expand their mining exploration footprint across the globe, signaling exciting opportunities for future growth.
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Seventy Ninth Resources, a prominent player in the natural resources sector, has announced the acquisition of two gold concessions, McKellar and Enable, located in Marathon and Terrace Bay, Ontario, from the UK-listed metals exploration company, First Class Metals PLC (FCM). One of the concessions also includes base metals such as zinc and copper.
This acquisition represents Seventy Ninth Resources' first gold concession acquisition in Canada since entering into a partnership with First Class Metals PLC. The move aligns with the company's long-term strategy to expand its mining exploration footprint across various territories globally and comes as it prepares to apply for listing on the Toronto Stock Exchange Venture (TSXV).
Natalie Bellis, CEO of Seventy Ninth Resources, expressed her excitement about the concession acquisitions, stating, The concession acquisitions of McKellar and Enable are significant milestones and an exciting step towards building a pipeline of quality, data-verified exploration projects in Canada, particularly as we prepare to list on the TSXV.
She further highlighted the opportunity to explore other metals alongside gold, including manganese and lithium, as one of the concessions includes base metals like zinc and copper.
Marc. J Sale, CEO of First Class Metals, welcomed the consolidation of the partnership with Seventy Ninth Resources through the sale of the Enable and McKellar properties. He expressed excitement about the opportunity to collaborate further with Seventy Ninth Resources in developing their Canadian portfolio and maximizing the potential of their newly acquired assets.
Seventy Ninth Resources holds a unique position in the natural resources sector, specializing in the acquisition, management, and development of desirable assets globally. With a strong presence in the Republic of Guinea since 2011, the company has cultivated trusted relationships with local communities, enabling unique access to acquire land with significant potential for gold, diamonds, and other precious resources.
Environmental, social, and governance (ESG) principles are at the heart of Seventy Ninth Resources' operations, with initiatives such as collaborating with a local orphanage and partnering with a non-governmental organization to address mining-related issues in impacted communities.
The company boasts a team of experienced geologists, field consultants, and ESG specialists, working alongside industry-leading strategic partners like SRK Exploration Services and The MSA Group. With its recent partnership with First Class Metals PLC and the intention to list on the TSXV in the last quarter of 2024, Seventy Ninth Resources is committed to exploring opportunities to expand its natural resource offerings globally.
Curated from News Direct
