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CleanTech To Commence Diamond Drilling at Campbell-Crotser Fluorspar Project, Kentucky

Cleantech Vanadium divests its zinc-germanium asset to Silver Elephant and initiates drilling at the Campbell-Crotser fluorspar project.

By The Northwire Desk — AI Analysis Jun 12, 2026 · 08:54 CTV · 0.125 Cleantech Vanadium Mining Corp.

Executive Summary

CleanTech Vanadium Mining Corp. announced the commencement of a diamond-core drilling program at its Campbell-Crotser fluorspar project in Kentucky. The initial phase targets 8 holes (~9,000 ft) with potential expansion to 16 holes, designed to delineate a conceptual exploration target of 150,000–250,000 tons of raw CaF2 at ~35% grade. The program aims to support engineering-level underground mine planning and feed a planned 500 tpd flotation processing plant.
Simultaneously, the company entered a binding Asset Purchase Agreement to sell its non-core Robinson-Lasher zinc-germanium-gallium project to Silver Elephant Mining Corp. The transaction consideration comprises 6.3 million common shares (~9.9% equity stake in Silver Elephant) and US$1,255,000 in cash installments. The divestiture is intended to reduce future property cash obligations and allow management to concentrate capital and operational focus on the core fluorspar portfolio in the Illinois-Kentucky Fluorspar District (IKFD).

Material Impact

The drilling update represents a standard, expected progression in the company's exploration cycle, moving from land acquisition and historic data compilation to engineering-level drilling. While positive for long-term resource definition, it carries no immediate revenue or near-term catalyst.
The Robinson-Lasher asset sale is strategically sound, removing a non-core, cash-burning liability from the balance sheet. However, the consideration is modest: US$1.255 million in cash spread over four years and a 9.9% equity stake in another junior miner. This does not materially alter the company's liquidity position or offset its historical cash burn.
The news aligns with management's stated strategy of consolidating the IKFD land package and focusing on fluorspar. It is incremental and expected given the prior acquisitions and the company's pivot away from the El Triunfo gold-antimony project.

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Company Overview

CleanTech Vanadium Mining Corp. is a mineral exploration and development company focused on critical minerals, primarily fluorspar and vanadium.
Flagship Project: Gibellini Vanadium Mine in Nevada. The project holds Measured & Indicated resources of 127 million lbs V2O5 and Inferred resources of 195 million lbs V2O5. It has received a positive Environmental Impact Statement Record of Decision from the BLM in October 2023. A Feasibility Study is in preparation.
IKFD Portfolio: The company has aggressively accumulated over 17,550 acres of fluorspar mineral rights in Kentucky and Illinois, including the Campbell-Crotser, Quarant, Pope, and Hicks Dome projects. The region historically produced ~90% of U.S. fluorspar.
The company is positioning itself to capitalize on U.S. critical mineral independence initiatives, targeting domestic supply for nuclear, battery, and semiconductor applications.

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