Metalero Reports Extended Copper and Gold Soil Results at the Cantin Target on the Benson Project, Quesnel Trough, British Columbia.
Executive Summary
- Metalero Mining announced significant soil geochemical anomalies for copper and gold at the Cantin Target of its flagship Benson Project, highlighting two large, open‑ended anomalies covering >23 km².
- The company disclosed a non‑brokered private placement of up to 3,000,000 common shares at $0.15 per share, targeting gross proceeds of $450,000 to fund ongoing exploration and working capital.
- A total of 2,300,000 incentive stock options were granted to officers, directors and consultants at an exercise price of $0.15 per share.
Key Details
- Soil Survey Results
- Two discrete copper‑in‑soil anomalies identified:
- Cantin Northwest (> 8 km²) based on ~135 samples.
- Cantin Southeast (> 15 km²) based on ~260 samples.
- Two discrete gold‑in‑soil anomalies identified:
- Cantin Northwest (> 7 km²).
- Cantin Southeast (> 14 km²).
- Anomalies correlate with QUEST AI targets and regional magnetic highs; both remain open in multiple directions.
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Total of 835 soil samples collected across Cantin, Sundberg, and Chiaz targets (100‑m spacing; line spacing 500–1,500 m).
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Private Placement
- Up to 3,000,000 common shares at $0.15 per share.
- Expected gross proceeds: $450,000.
- Proceeds earmarked for exploration/development of mineral properties and general working capital.
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Subject to TSX‑V regulatory approval; statutory hold period of four months and one day applies.
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Stock Option Grants
- 2,300,000 incentive stock options granted to officers, directors, and consultants.
- Exercise price: $0.15 per common share.
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Options exercisable for five years from grant date under the Company’s 10 % rolling stock option plan.
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QA/QC Procedures
- Sample preparation performed by ALS Global (Vancouver, BC).
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Ionic Leach method used to analyze 61 elements; chain‑of‑custody maintained throughout.
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Project Context
- Benson Project located in the Quesnel Trough, a prolific copper‑gold porphyry belt with >360 known occurrences.
- Infrastructure includes Highway 26 and extensive logging roads, facilitating cost‑efficient exploration.
Notable Quotes
“The results from our 2‑week follow‑up sampling campaign at Cantin have expanded and refined our previously defined copper and gold anomalies… We are excited to explore the other target areas while moving Cantin ahead to our maiden drill campaign.” – Rob L'Heureux, President & CEO
All forward‑looking statements are subject to risks and uncertainties, including those related to the private placement, exploration outcomes, and market conditions.