Mr. Rishi Kwatra reports
MOLTEN METALS CORP. REMAINS ENTHUSIASTIC ON THE CURRENT MINERAL EXPLORATION ACTIVITIES AND DISCOVERIES IN QUEBEC
Molten Metals Corp. has shared its outlook on the promising future of gold exploration in Quebec and the inherent advantages of operating in this supportive and resource-rich jurisdiction.
The company’s decision to acquire the Senneterre West gold project included consideration of the desirable location near other projects in the Val d’Or area of Quebec, which is part of the Abitibi greenstone gold belt, a region that spans Northeastern Ontario and northwestern Quebec that is a prolific mining area in a prime mining jurisdiction.
The Senneterre West gold project comprises 40 mineral claims that cover over 20 square kilometres and is located within the prolific Val d’Or mining district, which includes projects owned and operated by Agnico Eagle Mines Ltd. (Canadian Malartic mine, 7.9 million ounces gold), Eldorado Gold Corp. (877,000 oz Au) and O3 Mining Inc. (Marban alliance, 2.6 Moz Au).
The project is located in the eastern portion of the Val d’Or mining camp and is contiguous with Abcourt Mines’ Pershing-Manitou project, which hosts a current mineral resource. The claims straddle several regional-scale faults that separate distinct volcanic packages and are spatially associated with gold occurrences in the district.
The company cautions that information concerning resources on contiguous and nearby claims is not necessarily indicative of mineralization on the company’s project.
The province of Quebec is a globally recognized hub for mineral exploration and mining, and is highly prospective for gold and other valuable minerals, with significant geological potential yet to be fully realized.
Quebec is consistently top rated by the Fraser Institute in its annual ranking of mining-friendly jurisdictions and has an economy firmly entrenched in the natural resource sector, which includes a long history of mining and mineral processing.
Advantages for mining and mineral exploration investments in Quebec:
- Rich in a wide range of minerals;
- Top-rated province for flow-through financing opportunities in Canada;
- Surety of land title for the purposes of mineral exploration and mining;
- Extremely well-developed mining and exploration data and administration system;
- A leader in infrastructure development to support the natural resource sector;
- Generous tax credit toward mineral exploration expenditures in the province;
- There is breath of technical expertise in Quebec;
- Excellent government-generated geological data to support mineral exploration.
Rishi Kwatra, chief executive officer of the company, commented: “I am excited for this year as our company is financially strong and has great assets, particularly with us securing the prospective Senneterre gold project. We are excited to explore our flagship project throughout 2025 after securing 100 per cent of this project located in the heart of the prolific Val d’Or mining camp. The metals business looks promising, especially with potential supply shortages, highlighting the importance of our projects in Quebec’s globally recognized mineral-rich greenstone belt. We look forward to sharing further updates in the coming weeks and months as we work complete exploration on the project.”
Mr. Kwatra continued: “My focus as CEO will be to build a new technical team, new shareholder base and really energize the company as we carry out our exploration plan in 2025 confidently. It is early days, but I believe the growth potential here is exceptional.”
The Abitibi gold belt in Quebec is experiencing a surge in mergers and acquisitions as gold prices rise and companies seek to consolidate assets and expand operations. Agnico Eagle Mines has been particularly active, acquiring O3 Mining in 2024 for $204-million and Yamana Gold’s stake in the Canadian Malartic mine in 2023 for $4.8-billion. This follows its significant 2022 merger with Kirkland Lake Gold, consolidating key assets like the Macassa and Detour Lake mines.
This trend extends beyond Agnico Eagle. Newmont Corp., the world’s largest gold producer, acquired Goldcorp in 2019 for $10-billion, gaining control of assets like the Porcupine gold mines. Hecla Mining expanded its presence with the 2022 acquisition of Alexco Resource Corp. Even smaller players like Yorbeau Resources are participating, selling its Rouyn gold property to Lac Gold for $25-million. This wave of M&A activity solidifies the Abitibi gold belt’s status as a global hub for gold production, exploration and investment.
The company is focused on gold exploration in 2025. Gold’s appeal as a safe haven asset is fuelled by several factors contributing to its consistent growth. Global economic uncertainty and inflationary pressures drive demand for gold as a hedge against financial volatility. Simultaneously, technological advancements in exploration and data analysis are improving the efficiency of gold discovery, increasing supply potential. This is coupled with growing demand influenced by industrial applications and the rise of gold-backed exchange-traded funds. These combined forces solidify gold’s position as a valuable asset in the current market.
The company is also pleased to report on its successful participation in the Vancouver Resource Investment Conference held on Jan. 19 and Jan. 20, 2025. The company’s chief executive officer engaged in productive meetings with numerous accredited investors, showcasing Molten’s exciting gold exploration projects in Quebec and outlining the company’s strategic vision for growth.
“The Vancouver Resource Investment Conference provided an excellent platform to connect with the investment community and share our compelling story,” said Mr. Kwatra. “We received strong interest in our Quebec-focused exploration strategy, and we are confident that our ongoing efforts will generate significant value for our shareholders.”
Molten remains committed to pro-active investor relations and plans to participate in several coming industry events, including the prestigious Prospectors and Developers Association of Canada convention. These conferences offer valuable opportunities to:
- Increase awareness: showcase the company’s promising gold projects and exploration potential to a wider audience of investors and industry professionals;
- Build relationships: foster relationships with existing and potential investors, analysts and key stakeholders in the mining sector;
- Stay informed: gain insights into the latest industry trends, technologies and best practices.
“We believe that consistent and transparent communication is crucial to our success,” added Mr. Kwatra. “By actively engaging with the investment community at key industry events, we aim to further strengthen Molten Metals’ profile and attract the capital necessary to advance our exploration programs.”
The company also announces the closing of its previously announced private placement of units at a price of 40 cents per unit. The company raised $489,000 in gross proceeds through the issuance of 1,222,500 units. Each unit consists of one common share of the company and one-half of one transferable share purchase warrant of the company. Each whole warrant will entitle the holder to purchase an additional common share of the company at an exercise price of 70 cents for a period of two years from the date of issuance. The proceeds will be used toward exploration at the company’s projects, potential acquisitions, marketing and awareness campaigns, and general working capital. All securities issued pursuant to the offering are subject to a hold period of four months plus one day from the date of issuance and the resale rules of applicable securities legislation.
In connection with the offering, the company paid finders’ fees to certain qualified non-related parties totalling $34,230 and 85,575 broker warrants. Each broker warrant entitles the holder to acquire one-half of one common share at 70 cents for two years from the date of issue in accordance with the policies of the Canadian Securities Exchange.
Qualified person
The technical contents of this news release has been reviewed and approved by Deepak Varshney, PGeo, a qualified person as defined by National Instrument 43-101.
About Molten Metals Corp.
Molten is a North American mineral acquisition and exploration company focused on the development of quality properties that are drill-ready with high upside and expansion potential.
We seek Safe Harbor.
For Additional Information Please Contact
Rishi Kwatra
Chief Executive Officer
Molten Metals Corp. 604.760.3999
ir@moltenmetalscorp.com
The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
