HTX Minerals Corp Forms Strategic Alliance with Impala Platinum
HTX Minerals Corp announce that it has entered into a strategic alliance with Impala Platinum Holdings Limited, the world’s second largest primary platinum producer. The alliance will focus on PGE-Nickel exploration in Ontario, Canada.
Under the terms of the strategic alliance agreement, Implats will fund $900,000 towards HTX’s Nickel-Copper-PGE Ontario project generation activities over three years. During the term, Implats will retain the right to earn 50% interest in any properties generated or acquired by funding acquisition costs, paying HTX a further $250,000 and funding the initial $750,000 of exploration on each project it wishes to pursue. Upon Implats earning a 50% interest, HTX retains a one-time option on each JV property, to reduce its interest to 25% which would be carried through to the completion of a Feasibility Study. The strategic alliance and each joint venture arrangement completed are subject to the necessary South African Reserve Bank approvals.
Commenting on the agreement with Implats, Scott McLean, President & CEO of HTX, stated: “HTX is very excited to form a strong alliance with a leading mining company like Implats. Implats brings a level of expertise and experience to our exploration approach which complements the solid technical expertise of HTX and I feel this will ultimately bring significant value to our shareholders.”
About HTX Minerals Corp
HTX Minerals Corp is a privately held company that was incorporated in late 2007. Its primary focus is the exploration for nickel, copper and platinum group metals (PGM’s) ore within North America. Currently it manages projects near Timmins, Thunder Bay and Red Lake Ontario.
About Impala Platinum Holdings Limited
Impala Platinum Holdings Limited is one of the most significant producers of platinum and platinum group metals globally with operations on the Bushveld Complex in South Africa and the Great Dyke in Zimbabwe.
For further information, please visit the Company’s website at www.htxminerals.com.
