Ballistic has the option to acquire a 100% interest in a Rare Earth Elements (REE) and polymetallic claims package known as the Sisters Mountain critical metals project (the “Property”), located in Southwestern New Brunswick, which totals 8 claim blocks comprising 975 claim units covering 243 km2.

The claim package is located in Southwestern New Brunswick and has two primary targets, namely REE and nickel/copper. The claims host potentially four distinct mineral deposit types, including REE, nickel, copper, tungsten, tin, molybdenum, and Platinum Group Elements (PGE)

REEs and nickel deposits are under-discovered resources in Canada, and New Brunswick is seeing increased exploration activity for these types of deposits. These minerals are on the Canadian Critical Minerals Strategy list. The former Burnt Hill Tungsten mine is located in the project area.

REEs are critical components in many electronic devices and have a variety of industrial applications. Although not a current commercial producer of REE’s, Canada is host to a number of advanced exploration projects. Manufacturing permanent magnets is the largest global use for REEs, accounting for 29% of total forecasted demand. China is the world’s largest producer, with an estimated 140,000 tonnes of REEs in 2020, accounting for almost 60% of global production. Many countries, including Canada, have rare earth resources but producing REEs requires complex separation and refining processes.

HISTORIC WORK

Historically, Southwestern New Brunswick was successfully prospected a century ago for Sn, W, and Mo. The former Burnt Hill Tungsten mine is located on the southwest corner of the project area. Sn, W, and Mo occurrences are plentiful.

Since 1956,, only a small handful of companies have worked on this claim block. The work ranged from stream and soil sampling to airborne magnetics and EM surveys. Early-stage exploration focused on copper, lead zinc, and uranium until the late 1970s/early 1980s, when more emphasis was placed on tin and tungsten.

In 1981, Shell Resources conducted reconnaissance, including a stream sediment sampling survey. Initial roadside, pace, and compass geologic mapping and prospecting were done to delineate areas of interest for tin and tungsten. During exploration for Sn, W, and Mo deposits, indications of Ni, Cu, and PGE deposits became apparent. Indicator minerals were recovered in till samples from Sisters Mountain (center of the 400 square kilometer area), which indicated a strong potential for a nearby Ni, Cu, and PGE deposit.

GEOLOGY

GEOLOGY

TECHNICAL REPORTS