Silicon Metals Corp. Acquires Silica Ridge and Longworth Projects, Establishes Advisory Board

Silicon Metals Corp. has announced the acquisition of two silica projects in British Columbia through option agreements with Cronin Exploration Inc., signed on November 6, 2024. These agreements grant the company the option to purchase a 100% interest in both the Silica Ridge and Longworth Silica Projects, which are located in close proximity to key areas in the province—approximately 70 kilometers southwest of MacKenzie and 85 kilometers east of Prince George, respectively.

The Silica Ridge property spans 2,538.22 hectares and is known for its large quartzite occurrence, which was last drilled by Silver Standard Mines Limited in 1975. The drilling focused on the northwest corner of the property, where five holes were drilled, indicating substantial tonnage of silica with an impressive 99.43% SiO2 content and minimal impurities. Historical work at Silica Ridge suggests strong potential for expanding the high-purity silica mineralization further southeast, according to regional government mapping.

The Longworth Silica property covers 3,863.06 hectares and contains a series of sedimentary and volcanic rock formations, particularly the Nonda Quartzite formation. This formation is characterized by faulted offsets and folds, with four significant quartzite bands mapped along the western flank of Bearpaw Ridge. Some of these quartzite bands are up to 400 meters thick. Historical sampling in the 1980s by the Geological Survey Branch of British Columbia revealed that the quartzite in the area contained up to 99.5% SiO2. Further exploration and metallurgical studies were carried out by Silver Standard in the 1970s and 1980s, with recent reports in 2016 by MGX Minerals showing silica content as high as 99.56%. Silicon Metals sees significant opportunities to build on this historical data and expand the mineralization along strike to the southeast.

To exercise the option on the Silica Ridge property, Silicon Metals must pay $15,000 to Cronin Exploration and issue 1.8 million shares of its common stock within five days of executing the agreement. For the Longworth Silica property, the company must pay $25,000 and issue 3.3 million shares within the same timeframe. The company has also granted a 2% net smelter return (NSR) royalty to the Optionor on both properties, with the right to purchase 50% of each NSR for $1 million upon achieving commercial production.

Morgan Good, CEO of Silicon Metals, commented on the acquisitions, noting that the company now holds three promising silica-focused properties in British Columbia. The addition of Kyler Hardy, principal of Cronin Exploration, to the company’s advisory board further strengthens its technical team and enhances its exploration efforts. Good expressed optimism about the growing critical minerals sector and the future potential of these projects.