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Metallica Metals ( (TSE:QREE) ) has issued an update.
Quebec Rare Earth Elements Corp. has entered into an arm’s length option agreement to acquire a 100% interest in the Moose REE Project in Quebec, a 5,324-hectare property defined by a 7km circular magnetic anomaly believed to be highly prospective for rare earth elements. Early sampling from the project returned grades of 6.17% total rare earth oxides with a significant proportion of neodymium-praseodymium oxides, and the company plans an airborne spectrometry survey followed by a targeted drill program in 2026, with the potential to outline an initial mineral resource by 2028 if results are positive. The option terms require staged cash payments and share issuances to the vendor over three years, plus a contingent cash payment upon completion of key technical studies, with the transaction subject to customary corporate and regulatory approvals, underscoring QREE’s bid to strengthen its rare earth exploration portfolio in a strategically important region for critical minerals.
More about Metallica Metals
Quebec Rare Earth Elements Corp. is a Canadian exploration company focused on rare earth element (REE) projects in Quebec, targeting critical magnet metals such as neodymium and praseodymium that are essential for high-tech and green energy applications. The company’s strategy centers on acquiring and advancing early-stage, high-potential REE properties with good infrastructure access in mining-friendly jurisdictions.
Average Trading Volume: 38,987
Technical Sentiment Signal: Buy
Current Market Cap: C$6.04M
For a thorough assessment of QREE stock, go to TipRanks’ Stock Analysis page.