Cleantech Vanadium acquires Pope fluorspar properties
Executive Summary
- Cleantech Vanadium Mining Corp. entered a binding option‑to‑purchase agreement to acquire the Pope fluorspar properties (970 acres across three subdistricts) for a total purchase price of $184,000 payable in four installments through September 2028.
- The acquired parcels are located adjacent to historic high‑grade fluorite mines (Gaskin, Barnett, Henson) within the Illinois‑Kentucky Fluorspar District, a region identified as critical for U.S. supply of fluorspar and associated rare earth elements.
- Cleantech now holds over 8,150 acres of mineral rights in the district, positioning the company to pursue further exploration, resource definition, and potential development of domestic fluorite supplies.
Key Details
- Transaction Structure: Option‑to‑purchase (OTP) executed on Aug 26 2025; total consideration $184,000 U.S.
- $29,100 paid at OTP signing (already paid)
- $42,680 due ≤ Sept 1 2026
- $54,320 due ≤ Sept 1 2027
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$57,900 due ≤ Sept 1 2028
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Land Package: 15 mineral‑rights parcels totaling 970 acres across the Empire, Stewart, and Hobbs Creek subdistricts of Pope County, Illinois.
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Geological Context – Empire Subdistrict: Adjacent to historic Gaskin mine (≈179,000 raw tons produced; high‑grade gemstone‑quality fluorite with REE traces). Veins strike NE–ENE along major fault systems linked to Hicks Dome uplift.
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Stewart Subdistrict: Near former Barnett complex (≈550,000 tons historic production; depth 787 ft) and other legacy mines (Parkinson, Stockton). Historical resource estimates >600,000 tons fluorspar (40% barite, 20% CaF₂), though not verified to current CIM standards.
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Hobbs Creek Subdistrict: Contains former Henson mine (112,000 tons extracted; depth 950 ft) demonstrating deep‑vein mining potential.
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Strategic Importance: IKFD historically supplied >90 % of U.S. fluorspar (1914‑1995). Current U.S. consumption is ~32.5 million tons, with >95 % imported; domestic price rose from $300/ton (2020) to >$470/ton (2025). Fluorspar classified as critical for nuclear power, lithium batteries, and semiconductors.
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Future Work Planned:
- Compile and validate historic drill data.
- Twin‑drill select historic holes.
- Conduct confirmatory drilling in key zones.
- Update geological modeling.
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Prepare a new NI 43‑101 compliant mineral resource estimate.
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Qualified Person: Carlos Zamora, CPG (American Institute of Professional Geologists), reviewed and approved technical information per NI 43‑101.
Notable Quotes
“With fluorspar designated as critical for applications in nuclear power, lithium batteries and semiconductors, Cleantech's fluorspar projects represent more than an attractive mining investment – they are key to America's mineral independence.” – Ron Espell, President, Cleantech Vanadium Mining Corp.
“Cleantech has positioned itself at the epicentre of America's potential fluorite renaissance… we are looking forward to partnering with America’s industrial fluorspar users and federal agencies to accelerate development of IKFD.” – Ron Espell.