Cleantech acquires Quarant fluorspar project
Executive Summary
- Cleantech Vanadium Mining Corp., via its subsidiary U.S. Fluorspar LLC, acquired the 7,825‑acre Quarant fluorspar project in Kentucky, bringing total mineral rights in the Illinois‑Kentucky Fluorspar District (IKFD) to 15,975 acres.
- The acquisition was executed through a lease assignment agreement with a $210,000 payment schedule and includes a 2.5 % royalty on zinc and fluorspar sales payable to the lessor.
- The Quarant project surrounds Cleantech’s flagship Campbell‑Crotser deposit, extending its known mineral strike by ~3,300 ft and adding historic drill data (e.g., hole HJ 5 intersecting 17.4 % Zn over 21 ft).
Key Details
- Acquisition Structure:
- Lease assignment dated Sept. 30 2025; existing lease originally dated Nov. 16 2022.
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Consideration: $210,000 total payable in four installments ($60k at execution, then $50k each at 12‑month intervals).
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Royalty Terms:
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2.5 % royalty on sales of zinc and fluorspar products from the Quarant project paid to an arm’s‑length lessor.
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Land Holdings:
- Pre‑acquisition: 8,150 acres in IKFD.
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Post‑acquisition: 15,975 acres (nearly double).
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Geological Context:
- Project lies along the Rock Creek fault system in Livingston County, KY, within the Carrsville corridor that extends ~5.5 km.
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Historic production in the corridor exceeds 375,000 t of crude fluorspar; notable historic mines include Ellis and Shouse‑Skelton.
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Historic Drill Results (Quarant):
- 15 core holes (10,240 ft total) drilled by Kuttawa Mineral Co. (2000‑2001).
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Hole HJ 5: 17.4 % Zn over 21 ft within a 42‑ft sulphide‑rich zone at the top of the Renault formation.
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Campbell‑Crotser Historic Resource (for context):
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1974 estimate: 805,841 t grading 37.10 % CaF₂, 3.23 % Zn, 0.99 % Pb (not validated under current NI 43‑101 standards).
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Strategic Significance:
- Quarant surrounds the 250‑acre Campbell‑Crotser project, extending its mineral strike southward by ~1 km and deepening potential drill targets to 300–800 ft below surface.
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Enhances Cleantech’s position as a major U.S. fluorspar producer amid rising domestic demand for critical minerals (fluorspar used in batteries, semiconductors, steel/aluminum production).
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Qualified Person:
- Technical content prepared under supervision of Carlos Zamora, AIPG member and certified professional geologist (2024), acting as an independent qualified person per NI 43‑101.
Notable Quotes
(No direct CEO/President quotes were provided in the release.)