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NeoTerrex Minerals Inc ( (TSE:NTX) ) has provided an update.
NeoTerrex Minerals Inc. has secured mechanical trenching permits for its Gravitas project’s Petosa Tungsten zone in Québec, clearing the way for an excavation program aimed at exposing a tungsten-bearing quartz-rich porphyry vein system currently buried under overburden. By reopening and extending historic trenches, the company plans detailed mapping, sampling, and structural analysis to refine its geological model and prepare for a targeted drill campaign.
The Petosa zone, first worked in the 1930s and confirmed to host scheelite-bearing quartz veins, has shown historical tungsten grades of 0.5% to 4% W over structures traced for up to 150 metres, though recent sampling returned lower values due to limited bedrock exposure. NeoTerrex aims to obtain more representative grade data, test for vein extensions, and leverage the project’s rare road-accessible location to reduce costs and increase operational flexibility.
Management frames the program against rising geopolitical concerns over tungsten supply, as China dominates global production and Western governments seek secure North American sources of this critical mineral used in defense, aerospace, industrial tooling, and energy infrastructure. The company suggests that even modest domestic discoveries like Petosa could have outsized strategic importance, while the wider Gravitas project is emerging as a multi-metal prospect, potentially enhancing NeoTerrex’s positioning in the critical minerals space.
More about NeoTerrex Minerals Inc
NeoTerrex Minerals Inc. is a Canadian mineral exploration company focused on its 100%-owned Gravitas project in the Abitibi-Témiscamingue region of Québec, one of Canada’s most prolific mining districts. The company is targeting tungsten at the historic Petosa zone while also advancing a broader multi-metal opportunity with copper, gold, and silver potential, supported by strong local infrastructure and community engagement.
Average Trading Volume: 47,053
Technical Sentiment Signal: Sell
Current Market Cap: C$8.03M
For a thorough assessment of NTX stock, go to TipRanks’ Stock Analysis page.