Auxico Resources Canada Inc. (CSE: AUAG) has announced that it has made an additional discovery of a high-grade tin-tantalum target area in the Vichada department of Colombia, with titanium, niobium, scandium and hafnium credits. The target area is located one kilometer north from the high-grade rare earth area on an Auxico-controlled property from which samples resulted with 56.78% total rare earth oxide content.
Subsequent to an ongoing trenching program, the samples from the tin-tantalum target area are the results of pan concentration and screening. Samples were sent to Canada and analyzed by Coalia Research Institute in Thetford Mines.
Of particular interest is the scandium content in the tin-tantalum area that averages over 3.6 kilograms of scandium oxide per ton. When combined with aluminum, scandium oxide makes alloys lighter and stronger and can significantly reduce the weight of cars, aircrafts and ships, helping reduce costs, increasing range, and reducing emissions. Tantalum is widely used in every kind of electronic device, such as phones, computers, automotive electronics and cameras. Tantalum alloys can be extremely strong and have been used for turbine blades, rocket nozzles and nose caps for supersonic aircrafts.
The current sampling program is ongoing for both the tin-tantalum area and the rare earth area of the property. Pits are being excavated with the use of a backhoe as the mineralization has been identified at a depth of 3 meters. The company will be conducting metallurgical testing using the ultrasound extraction process (UAEx) on these samples.
Auxico also notified shareholders it had granted to a consultant to the company 500,000 stock options to purchase 500,000 common shares of Auxico at a strike price of $0.75 and expiring on December 21, 2021.