METALLIC EXPLORATIONMetallic minerals

SBH / Buckton polymetallic black shale

Critical Minerals Americas · Historical 534 kt TREO inferred; 19–29 Bt exploration target

Updated NI 43-101 April 2026; C$12 M program planned.

RESOURCE CONTEXT

Buckton 472.6 kt TREO inferred + 28.5 kt indicated; FTT monazite 43.6–72.5 kt/yr; Genesee ash ≤1,399 ppm REO

Half a million tonnes of TREO in Birch Mountains black shale, monazite in oil sands tailings, and REE-rich coal ash — all low grade, all by-product plays.

Official reserve statements for this commodity (1)

  • Buckton / SBH black shale — historical inferred TREO534 kt TREO · Resource estimate · 2014 (historical)AGS INF 157 ↗

GEOLOGICAL SETTING

Prospectivity envelopes for Rare earth elements & coal-ash critical metals

  • Coal fly-ash and Ardley coal REE-Ga-Ge stockpilesPermissive, under-explored
    Secondary recovery of REE, gallium, germanium from coal, ash ponds and petcoke

Development regime

Tenure
Metallic & Industrial Minerals Tenure Regulation (AR 265/2022): permit — exclusive exploration right, indefinite term, no rent, $625 fee, assessment work $7/ha (first 2 years) → $13 → $20/ha; lease — 15-year initial + 15-year intermediate term, indefinite while producing, $3.50/ha rent. Recovery from oil sands tailings sits under the oil sands lease and may need a separate MIM lease for non-bitumen minerals.
Royalty
Metallic minerals: 1 % of mine-mouth revenue pre-payout; post-payout the greater of 1 % mine-mouth or 12 % of net revenue (AR 350/93 s.4).

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