CleanTech Acquires Significant Package of Fluorspar Projects Totaling 7,180 Acres for US$4,000,000 in Illinois-Kentucky Fluorspar District
Executive Summary
- CleanTech Vanadium Mining Corp. entered a binding option‑to‑purchase agreement to acquire up to 7,180 acres of historic fluorspar projects in Kentucky and Illinois for a total purchase price of US$4 million payable over five years.
- The assets comprise more than a dozen historic deposits with ~720 historic drill holes, representing significant strategic land position in the Western Kentucky Fluorspar District – a key domestic source of fluorite for nuclear fuel, EV batteries, steel and aluminum production.
- If exercised, CleanTech will become one of the largest fluorspar holders in the United States, potentially adding historic resources such as 805,841 t at 37% CaF₂ (Campbell‑Crotser) and other sizable deposits.
Key Details
- Option Structure:
- Total purchase price US$4,000,000.
- Payments: US$250,000 paid at signing; four additional installments of US$250,000 due by Sept 1 2026, 2027, 2028, 2029; final US$3,000,000 due by Sept 1 2029.
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Flexibility: CleanTech may acquire both project groups for the full price or elect a single group for US$2,250,000 (less any amounts already paid).
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Project Portfolio Highlights (selected historic resources):
- Campbell‑Crotser: 805,841 t @ 37.10% CaF₂, 3.23% Zn, 0.99% Pb.
- Tabb (Lafayette‑Crouch‑Simpkins‑Travis): 6,560,000 t @ 14.2% CaF₂, 3% Zn.
- Babb‑Barnes: 424,000 t @ 44% CaF₂.
- Robinson‑Lasher (multiple horizons): up to 387,225 t @ 5‑10% CaF₂, 14% Zn.
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Additional projects (Carr, Big Four, Pitillo, Memphis, etc.) collectively cover the remaining acreage with historic estimates ranging from ~70,000 t to >1 million t.
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Strategic Significance:
- Controls ~60,000 ft of fault systems across the most productive segment of the Western Kentucky Fluorspar District.
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Provides domestic supply in an import‑dependent U.S. market; fluorspar price has risen from ~$300/t (2020) to >$450/t (2025).
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Forward‑Looking Statements: Management expects the option to enable CleanTech to become a leading U.S. fluorite producer, supporting demand for nuclear fuel, EV battery electrolytes, and steel/aluminum fluxing.
Notable Quotes
“With this transaction, CleanTech has now become one of largest Fluorspar players in the USA… our goal is to be the leading Fluorspar mining company to supply Florine … for nuclear fuel, batteries, and steel production,” – Ron Espell, President, CleanTech Vanadium Mining Corp.