10:27 AM EST, 01/07/2025 (MT Newswires) -- Black Mammoth Metals ( LQRCF ) rose 2% on Tuesday after unit Antelope Creek Gold entered into a mineral lease purchase agreement dated Jan. 3, 2025, with TUVERA Exploration to buy a 100% interest in eight leased patented claims. The company also recently staked 89 federal unpatented lode claims.

The patented and unpatented claims total about 710 contiguous hectares and is called the Coleman Canyon Gold property, located in Elko County, NE Nevada, at the NE extent of the Jerritt Canyon Trend.

The company said there is an existing plan of operations for drilling 19 holes at Coleman Canyon. Majority of the known gold and silver mineralization is hosted by sedimentary and meta-sedimentary rocks surrounding a central intrusive stock, the company added.

Black Mammoth Metals ( LQRCF ) said nearly all known mineralization is open laterally within the sedimentary units and is potentially open vertically both in the deeper oxide zone and into the sulfide zone.

Under the deal, Antelope Creek bought TUVERA Exploration's extensive property data, including drill core and RC chips in storage, in exchange for a 1% NSR royalty which covers the unpatented claims that the company has staked.

The company added that the eight leased patented claims include mineral rights, surface rights and any water rights that the underlying owners may have. The leases, signed in 2010 for an initial term of 20 years, can be extended for an additional 20 years under certain conditions.

Shares of the company were last seen up $0.030 at $1.12 in early morning trade on the TSX Venture Exchange.

Price: 1.12, Change: +0.03, Percent Change: +2.75