Rush Rare Metals CEO Peter Smith joined Steve Darling from Proactive to share news about the mineral exploration company’s focus on its Boxi Property in Quebec and the Copper Mountain Project in Wyoming. The company recently announced the staking of the Knob claims in Wyoming, comprising 52 mineral claims totaling 780 acres. According to Smith, these claims are now part of the Copper Mountain Project, subject to an option/earn-in agreement between Rush and Myriad Uranium.
Under the agreement, Myriad can earn a 50% interest in the project by spending $1.5 million exploring Copper Mountain and increase its interest to 75% by spending a total of $5.5 million. As Myriad meets certain progress thresholds, Rush will receive Myriad shares and other incentives. Conversely, the Boxy property in Quebec, initially acquired for its uranium potential, has shifted focus towards its exceptional niobium prospects. Niobium, a lesser-known element, is highly valued for its …