Vancouver-based Maxus Mining has entered into a property option agreement with Equinox Resources to acquire a 100% interest in the Alturas antimony project, in British Columbia’s Slocan mining division.

The project includes five claims covering 634 ha adjacent to Maxus’ existing ground. Together, the Alturas East and Alturas West blocks now total 1 748 ha. Historical production at the nearby Alps-Alturas mine averaged 57.2% antimony, with peak grades of up to 59.5% stibnite.

Under the agreement, Maxus will pay C$300 000 in cash within 15 business days and issue C$400 000 worth of shares within 12 months, priced at the 20-day CSE volume-weighted average price. Equinox will retain upside exposure through the equity component, which is subject to staged resale restrictions.

“The acquisition of Alturas represents a defining moment for the company as we strengthen our position in critical minerals. Alturas is a high-impact project which carries a strong history of encouraging results, and we are proud to be able to drive real value for our shareholders with this acquisition," said Maxus CEO Scott Walters.

The Alturas antimony project sits 15 km north-east of New Denver within a 1.3 km mineralised corridor hosting quartz veins with stibnite. Rock chip sampling has returned grades of up to 69.98% stibnite. Maxus plans to integrate light detection and ranging, geochemical, structural and IP data to refine drill targets, with maiden drilling possible as early as the fourth quarter of 2025.

Equinox CEO Zac Komur described the divestment as “a straightforward step that converts a noncore asset into cash and listed equity. It also marks our exit from British Columbia and lets us concentrate time and capital on delivering Hamersley in Western Australia. In parallel, we are assessing opportunities, while also reviewing our existing projects in Brazil to accelerate value creation. Maxus is the right owner for Alturas given their adjacent ground, and this agreement simplifies our portfolio and supports our focus.”