01:43:49 EDT Wed 15 May 2024
Enter Symbol
or Name
USA
CA



ProAm Explorations Corp (2)
Symbol PMX
Shares Issued 17,519,736
Close 2023-07-27 C$ 0.02
Market Cap C$ 350,395
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ProAm acquires Hells Hole Pass property in Utah

2023-08-14 18:39 ET - News Release

Mr. Donald MacDonald reports

ProAm Explorations Corp. has formally acquired a mineral property which is generally referred to as Hells Hole Pass, resident in the state of Utah, approximately 22 kilometres west of the city of St. George. This property was brought to the company by David L. Trueman, PhD, PGeo, a long-time director of the company who has since passed away. The property currently consists of 10 mineral claims and 640 acres of state-owned school trust land. These claims and school trust property are located on highly altered Calville limestone along a fault believed to be an offshoot of the Apex fault. The Apex mine, eight kilometres south, was mined between 1884 and 1962, producing copper-lead-silver. In the 1980s, it was mined exclusively for the very high gallium (Ga) and germanium (Ge) enrichment associated with secondary iron minerals goethite and jarosite.

The company has been pursuing a property referred to as the Jet property, in Nevada, for some time and therefore has delayed the active pursuit of the Hells Hole property. The Hells Hole property is prospective for gallium and germanium. These green technology, rare earth metals are utilized in the manufacture of batteries. China has control of the greatest part of the worldwide inventory and production of these metals. China has recently announced that it is restricting the export of these metals, which suggests a significant increase in worldly demand from countries other than China. The U.S. government has suggested it is willing to incentivize exploration for these minerals.

Significant exploration activity has taken place on this property in past years. An Aster (advanced spaceborne thermal emission and reflection) imagery survey was conducted over the area to identify potential mineralized targets associated with the hydrothermal alteration. A total of 17 targets were identified, ground truthed and sampled. Numerous gossanous occurrences of copper-zinc-germanium-gallium were observed. Widespread, pervasive argillization/dolomitization/silicification alteration was observed over many of these targets.

Rocks mapped as Precambrian gneisses two kilometres to the west contain uranium/copper granites, which are postulated as the source of the Cu-Ga-Ge mineralization. The strong clay alteration in the limestones is considered a hydrothermal alteration halo associated with subcropping metal-enriched structures.

It was noted that the alteration at Hells Hole Pass is extensive, and appears broader in scope and intensity than in the vicinity of the Apex mine. There is no evidence of previous exploration in and around the Hell Hole property. Anomalous Ga and Ge samples have been encountered in this immediate vicinity.

A working model for the Hells Hole property envisions the formation of a pipe (or pipes) related to circulating hydrothermal or hot mineralizing fuels in relation to Miocene intrusive activity.

Chris Pedersen is the qualified person responsible for commentary in this news release.

The company is contemplating an airborne magnetic and radiometric survey to further delineate the ground and is pursuing financing for exploration activity on this property, as well as on its Jet property in Nevada.

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