11:20 AM EDT, 08/26/2025 (MT Newswires) -- Black Mammoth Metals ( LQRCF ) up 3% on last look, said its Antelope Creek Gold subsidiary entered into a long-term lease for the Gallinas rare earth elements (REE) property in the Gallinas Mountains in New Mexico.

The 40-year lease carries an option to purchase and consists of 49 federal unpatented claims. Antelope Creek had previously staked 43 federal unpatented claims in March. The lease option covers the remaining six claims, which Antelope Creek may purchase for US$300,000, subject to a royalty.

The magmatic REE deposits of the Gallinas Mountains are considered to be amongst the highest ranked deposits for economic potential for REEs in New Mexico, a statement said.

The company's shares were last seen up $0.07 to $2.35 on the TSX Venture Exchange.

Price: 2.35, Change: +0.07, Percent Change: +3.07