On February 27, 2025, Loyalist Exploration Limited announced a binding letter of intent with STLLR Gold Inc. to acquire a 100% interest in the Loveland Nickel/Copper/Gold property, located approximately 45 kilometers northwest of Timmins, Ontario. The property comprises 292 contiguous mineral claims totaling 6,244 hectares and includes the Hollinger and Cominco zones, both with historical estimates of nickel and copper mineralization. The Hollinger Zone has an estimated 422,350 short tons grading 0.71% nickel and 0.42% copper, while the Cominco Zone has an estimated 130,000 short tons grading 0.73% nickel and 0.68% copper. These zones are open along strike and at depth, forming a 10-kilometer prospective exploration corridor. Notably, gold assays have reported 6.37 grams per tonne (g/t) over 8.55 meters, with additional intervals showing 6.17 g/t over 3.0 meters and 10.39 g/t over 3.1 meters. Surface gold grab samples about 400 meters southeast of the historical Cominco Zone contained 8.98 g/t and 11.48 g/t gold. The acquisition terms include an upfront cash payment of $250,000, issuance of 7 million Loyalist common shares to STLLR, and a 2.0% net smelter royalty, with Loyalist retaining the option to buy back 1.0% for $1 million. Loyalist plans to consolidate its understanding of the property, aiming to publish an NI 43-101 technical report and initiate additional exploration programs.
Loyalist Exploration to Acquire Loveland Nickel-Copper-Gold Property