Tomahawk Metals (AQSE:TMHK) has completed due diligence on a package of Slovakian gold and antimony assets first optioned in April, and is now targeting a transaction close within four to six weeks.
The Aquis-quoted exploration company is acquiring 100% of three active mineral exploration licences and two licence applications in Slovakia, covering gold and antimony targets with polymetallic upside.
The five assets are Poproc, Lom, Strieborna, Zalomy and Zlatá Baňa, spanning structurally controlled antimony-gold vein systems and, at Zlatá Baňa, a stratovolcano-hosted polymetallic target with historical estimates of approximately 12 million tonnes of zinc-lead-silver-gold material, though the company cautions these are unverified historical figures and should not be treated as current mineral resources.
At Lom, historical mining between 1941 and 1944 returned mined grades of approximately 2.3% to 4.2% antimony and 3.1 to 4.2 grams per tonne gold, illustrating the high-grade potential, though continuity remains unconfirmed.
A further cash payment of £100,000 falls due if the company completes an AIM listing, which it is pursuing but has not guaranteed.
Upon transaction completion, Tomahawk says a detailed exploration programme will begin immediately.
