Sulliden Ventures into Polish Mining with New Acquisition
Introduction to New Acquisition
TORONTO -- Sulliden Mining Capital Inc. (“Sulliden” or the “Company”) (TSX: SMC) has made a strategic move by acquiring a 5.2% stake in a nickel, zinc, and lead mining exploration project in Poland. This acquisition was achieved through the purchase of 10% of the issued shares of Sustainable Royalty Corp., reflecting the company's commitment to expanding its resource portfolio.
Details of the Acquisition
Under the terms of a share purchase agreement solidified on April 3, Sulliden acquired 1,000,000 shares of the Target with the total consideration amounting to C$100,000. In addition, the company has committed to an expenditure of 250,000 euros for further project development, showcasing its proactive approach to resource exploration. Mr. Stan Bharti, a significant player in the company’s past, has retained a 63% interest in the Target.
Exploration Projects: Szklary and Dabrowka
The Project is composed of two main sites: the Szklary and Dabrowka concessions. The Szklary site, notable for its nickel laterite deposits, is located about 50km from a major Polish city. This area is rich in history, showcasing significant historical production rates and extensive drilling activity during the Soviet era. A previous technical report compliant with National Instrument 43-101 has validated the site's mineral resource potential, with plans for additional drill holes to confirm historical data.
The Promise of Szklary
Population of historical estimates have determined the site to hold impressive quantities, including 32.9 million tonnes of nickel-laden earth. The extraction process involves skimming the laterite, while ongoing exploration efforts are set to delve deeper into the unexplored sulphide deposits beneath the surface. The potential for increased nickel recovery positions Szklary as a critical component of Sulliden's growth strategy.
Highlighting the Dabrowka Site
Situated closer to urban centers, Dabrowka contains both existing infrastructure and promising resources. A pre-existing mined shaft eliminates some primary development requirements, allowing for efficient operations. Historical estimates have suggested significant quantities of zinc and lead are present, establishing a solid foundation for Sulliden’s ongoing exploration efforts.
Potential Benefits of the Project
This project not only enhances Sulliden’s portfolio but also comes with strategic advantages. The proximity of two operational smelters within a 20km radius improves logistical efficiency for mineral transportation, while proven mining methods, including room and pillar techniques, provide confidence in the operation's viability.
Moreover, the possibility of discovering additional deposits below the surface presents exciting opportunities for expansion and increased resource recovery.
Company Leadership and Vision
Mr. Fred Leigh, the Chief Executive Officer of Sulliden, expressed enthusiasm about the acquisition, noting that this investment underscores the company’s commitment to growth in significant resource sectors. With a strategic focus on advancing exploration efforts, Sulliden aims to unlock the full potential of its mining projects.
About Sulliden Mining Capital Inc.
Sulliden Mining Capital Inc. is dedicated to acquiring and advancing mining projects across various stages in geographies including the Americas, Australia, Africa, and Europe. The company’s portfolio is designed to include both brownfield projects and those in the early stages of development, ensuring a diverse and resilient approach to mining.
Contact Information
For further inquiries, please reach out to:
Sulliden Mining Capital Inc.
“Fred Leigh”, Chief Executive Officer
info@sulliden.com
(416) 861-2267
Frequently Asked Questions
What is the significance of the acquisition for Sulliden?
This acquisition allows Sulliden to enhance its resource portfolio and expand its operations into Europe, particularly in the mining sectors focusing on nickel, zinc, and lead.
What are the key attributes of the Szklary site?
Szklary is known for its nickel laterite deposits with significant historical production data, making it a valuable target for further exploration and extraction efforts.
How does the location of the Dabrowka site benefit Sulliden?
Dabrowka is conveniently positioned near urban centers and existing mining infrastructure, offering logistical advantages for mineral processing and transport.
What exploration activities are planned for these sites?
Sulliden plans to conduct additional drilling to confirm historical mineral resources and explore further potential beneath the surface.
Who is leading Sulliden's exploration efforts?
Mr. Fred Leigh, the CEO, is at the forefront of this strategic initiative, emphasizing the company's commitment to growth in key resource sectors.
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