Implats Alliance, MCR Region, ON
Map highlighting the Mid-Continent Rift (MCR) area of interest being explored by HTX Minerals as part of its strategic alliance with Implats
- 3 year- $3.9 million dollar Strategic Alliance to explore the Mid Continent Rift region in Ontario for PGE-Ni-Cu.
- Focused on high grade ultramafic hosted (Eagle-Tamarack-Current Lake) type deposits using high tech geophysical and geochemical techniques.
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On January 1 Implats and HTX signed a new 3 year strategic alliance agreement. Under the terms of the agreement, Implats immediately vest for a 50% interest in all HTX projects within an Area of Interest in exchanged for guaranteed and committed annual funding of $1,300,000. HTX is entitled to collect a $100,000 annual lump sum payment and a 10% management fee on all expenditures. In addition to the annual funding, HTX recovers all property acquisition costs to date and Implats may, before May 16th, choose to commit to a further $250,000 of expenditures to the Icarus project and it in the Alliance.
Exploration will continue to be driven by HTX's one of a kind advanced Ontario Geoscience Compilation.
The figure below highlights the exploration model for magmatic sulphide deposits in the Mid Continent Rift region, and the relative location of deposits in the region.