Noronex to acquire Sleitat Tin Project in Alaska
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- Noronex has executed an agreement to acquire the high-grade Sleitat Tin Project located in Alaska, USA.
- Following the announcement, the company's stock rose as investors reacted to the critical minerals acquisition.
- The transaction aligns with the company's strategy to leverage US critical minerals policy amid a complete lack of domestic US tin production.
Minerals explorer Noronex (ASX:NRX) has executed an agreement to acquire the 25.9 million tonne Sleitat Tin Project in Alaska.
The critical minerals acquisition marks a notable shift from the company's prior focus on African copper exploration.
In tandem with the asset purchase, the company appointed experienced mining executive James Thompson as CEO.
The historical Alaskan deposit contains an estimated 58,060 to 96,162 contained tonnes of tin alongside tungsten and silver credits.
The company stated that the transaction is expected to position the business to capitalise on American critical mineral policies.
Following the announcement, the Noronex share price was up at $0.013.
The company enters a region where the United States has produced zero domestic tin since 1993.
